MBA in Family Business

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Updated on
October 16, 2023

MBA in Family Business & Entrepreneurship: Key Highlights, Top Colleges, Types and Modes of Program, Cut off, Fee, Placements, Admission Process

 

Latest Updates: 

  • IIM Calcutta, ISB are among top MBA colleges offering 1 years MBA in Family Business Programme
  • NMIMS Mumbai, EDII Ahmedabad among top MBA Colleges offering 2 Year MBA in Entrepreneurship and Family Business
  • MBA in Entrepreneurship & Family Business program focuses on grooming Entrepreneurship and leadership skills instead of Managers and Job Seekers

Read the Table of Contents below to know the key highlights and importance of  MBA Family Business and Entrepreneurship Program, Top MBA Colleges for Entrepreneurship and Family Business Programs, Eligibility, Admission process and more

 

MBA in Family Business

Table of Contents

  1. What is MBA in Entrepreneurship and Family Business in India? Key Details & Scope
  2. Type of MBA in Family Business and Entrepreneurship Colleges in India
  3. 10 Popular MBA in Family and Business Entrepreneurship Colleges in India
  4. Family Business MBA In IIM
  5. MBA Entrepreneurship and Family Business Programs Fees
  6. MBA in Entrepreneurship & Family Business Eligibility Criteria for Admission
  7. MBA in Entrepreneurship & Family Business Admission Process
  8. MBA Entrepreneurship & Family Business: Great Contributor to GDP
  9. MBA in Entrepreneurship & Family Business Courses and Syllabus

1. What is MBA in Entrepreneurship and Family Business in India? Key Details & Scope
MBA Family Business Management Program offers the opportunity to the students to further expand and strengthen their family business and also to venture into entrepreneurship with innovative ideas after getting proper grooming and skills on completion of their MBA Family Business and Entrepreneurship Program. In the rapidly altering business environments and economies, the next generation of business owners want to tackle the uncertainty and volatility of business world effectively. To cater to the needs of this group, many top B-schools offer MBA Family Business and Entrepreneurship Program which is  specifically designed to help meet the needs of next generation of family business

 

MBA Family Business and Entrepreneurship programs are offered by many top MBA colleges to give boost to entrepreneurship ventures and to expand and modernize the family business to make it a successful and growth oriented business. ‘Make in India’; ‘Start-Up India’ could be a great success, if more and more graduates after completing their MBA in Entrepreneurship & family Business resorted to Entrepreneurship projects and indulge to boost the Family Business instead of running after meagre placement packages.    . 

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2. Type of MBA in Family Business and Entrepreneurship Colleges in India
MBA Entrepreneurship and Family Business Management Courses in India are many which offer different types of MBA in Entrepreneurship & Family Business programs. These Family Business Management Colleges in India are located in almost every state. For example, MBA in Family Business and Entrepreneurship Colleges in Delhi NCR are located in Delhi, Gurgaon, Greater Noida, Ghaziabad among other cities. Besides, IIM Bangalore Family Business & Entrepreneurship specialization is offered in its flagship PGP and EPGP programmes.  Family Business Management SP Jain programme is also offered as 18 months course.

Following are the best Family Business MBA In India which is offered by top MBA colleges

  • 2-Year Full Time Specialized MBA in Entrepreneurship & Family Business by NMIMS, EDII
  • 1 Year Full Time MBA Specialization in Entrepreneurship and Family Business by IIM Calcutta, ISB Hyderabad among others 

10 Popular MBA in Family Business and Entrepreneurship Colleges in India
MBA Family Business programme or MBA in Entrepreneurship & Family Business Programmes are offered by  many colleges.  Some of the top MBA colleges offering Family Business Management Courses in India are IIM Calcutta, ISB, S P Jain, Nirma University, NMIMS Mumbai, EDII among others.  

Name of the Institute
Course
Duration
Fee (Under revision)
Indian School of Business
Post Graduate Programme in Management for Family Business (PGP MFAB)
15 Months
Rs. 41,98,000
IIM Calcutta
Post Graduate Certificate in Family Business Management (PGC-FBM)
12 Months
Rs. 4,40,000
SPJIMR, Mumbai
Post Graduate Programme in Family Managed Business (PGP-FMB)
18 Months
Rs.17,05,000
NMIMS Pravin Dalal School of Entrepreneurship and Family Business Management., Mumbai
MBA- Entrepreneurship & Family Business
24 Months
Rs. 23,00,000 (Under revision)
SIBM Pune
MBA (Innovation & Entrepreneurship)
24 Months
Rs.18,29,000
Prin L.N Welingkar Institute Of Management Development & Research, Mumbai
PGDM – Family Managed Business( PGDM – FMB)
11 Months
Rs. 7,00,000
Entrepreneurship Development Institute of India, Ahmedabad 
 
Post Graduate Diploma in Management - Business Entrepreneurship 
(PGDM-BE)
24 Months
Rs. 13,70,000
 
Institute of Management, NIRMA University, Ahmedabad
MBA (Family Business & Entrepreneurship)
 
24 Months
Rs.8,91,000

IIM Bangalore Family Business, Family Business Management Sp Jain

 

4. Family Business MBA in IIM and Symbiosis Colleges
Apart from their general MBA programs, MBA in Family Business in IIM and Symbiosis colleges include 1 year and 2 year full time specialized MBA programmes. IIM Bangalore also offers  Below are the top IIMs and SIBM colleges offering MBA in Family Business and Entrepreneurship programme 

IIMs & Symbiosis Colleges offering MBA in Family Business
Programme Name
Duration & Mode
IIM Calcutta
Post Graduate Certificate in Family Business Management (PGC-FBM)
1 Years Part time Time; Hybrid Programme
SIBM Pune
MBA (Innovation & Entrepreneurship)
2 Years Full Time; On Campus

5. MBA Entrepreneurship and Family Business Programs Fees
Amongst the top MBA in Family business programmes, the highest fee is charged by ISB while other B-schools charge moderate fee for MBA in Family Business programme. Below is shared the MBA Entrepreneurship and Family Business Programs Fees for top MBA colleges

Name of the Institute
Programme Offered
Fee (Under revision)
Indian School of Business
Post Graduate Programme in Management for Family Business (PGP MFAB)
Rs. 41,98,000
IIM Calcutta
Post Graduate Certificate in Family Business Management (PGC-FBM)
Rs. 4,40,000
SPJIMR, Mumbai
Post Graduate Programme in Family Managed Business (PGP-FMB)
Rs.17,05,000
NMIMS Pravin Dalal School of Entrepreneurship and Family Business Management., Mumbai
MBA- Entrepreneurship & Family Business
Rs. 23,00,000 (Under revision)
SIBM Pune
MBA (Innovation & Entrepreneurship)
Rs.18,29,000
Prin L.N Welingkar Institute Of Management Development & Research, Mumbai
PGDM – Family Managed Business( PGDM – FMB)
Rs. 7,00,000
Entrepreneurship Development Institute of India, Ahmedabad 
Post Graduate Diploma in Management - Business Entrepreneurship 
(PGDM-BE)
Rs. 13,70,000
 
Institute of Management, NIRMA University, Ahmedabad
MBA (Family Business & Entrepreneurship)
Rs.8,91,000

6. MBA in Entrepreneurship & Family Business Eligibility Criteria for Admission
So, who should pursue MBA in Family Business and what are the key points that determine the Admission Eligibility for MBA in Family Business & Entrepreneurship? Read below the key details:

 

6.1 Who should pursue MBA in Entrepreneurship & Family Business?
MBA in Family Business and Entrepreneurship is a specific program designed for:

  • Next generation family business owners/successors
  • Startup founders
  • Aspiring Entrepreneurs

6.2 Eligibility for MBA in Family Business and Entrepreneurship
The eligibility criteria for admission to MBA in family Business Management and Entrepreneurship vary according to different colleges.

  • The general requirements for this course include graduation with 50% Marks
  • Some colleges may require prior professional experience; some colleges relax the experience criteria for business owners.
  • However, a professional experience of 3-4 years adds a lot of value to the application.
  • Applicant must have appeared in at least one of entrance exams accepted by the institute like CAT/XAT/NMAT/SNAP/IBSAT/MAT/CMAT among others

7. MBA in Entrepreneurship & Family Business Admission Process
MBA in Family Business and Entrepreneurship Admissions are done like other MBA courses. The top MBA in family business and entrepreneurship colleges shortlist the applicants based on different MBA Finance Entrance Exams. The step wise MBA in family business & entrepreneurship admission process is as below:

  • Check your eligibility. Minimum 50% marks in graduation required
  • Check experience requirement
  • Apply and appear in the MBA finance entrance test acceptable to the institute. For example-IIMs, SPJIMR accept CAT, XLRI accepts XAT, SIBM accepts SNAP, NMIMS accepts only NMAT, ISB accepts GMAT
  • Appear in the final selection round, if shortlisted for interview
  • Pay Fee for the MBA in Family Business and Entrepreneurship Course

8. MBA Entrepreneurship & Family Business: Great Contributor to GDP
During few years, MBA in family business has become one of the most sought after management courses. Family-owned businesses play a crucial role in the economy of a country. According to EY India, it is estimated that globally family businesses contribute around 70%–90% of the global GDP. India is no exception to this fact. Family-run businesses account for more than 85% of businesses in India. Additionally, 67% of total listed companies with market capitalization exceeding more than US$50 million each, accounts for family businesses in India. Apart from conglomerates like Reliance and Godrej, a lot of retail trade, small scale industry, and service sector are run by family businesses. As such with an aim to enhance further family owned businesses, MBA in family business has become the best choice to manage and give wings to the family owned business. . 

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9. MBA in Entrepreneurship & Family Business Courses and Syllabus
MBA in Family Business & Entrepreneurship Courses in India as offered by ISB, IIM Calcutta, NMIMS Mumbai, S P Jain, Nirma University, EDII among other top institutes more or less have similar course design. Since MBA Family Business and Entrepreneurship offers key benefits like grooming entrepreneurship and leadership skills, freshers as well as working professionals earn this degree every year with the target to enhance and improve their career opportunities and position themselves for success in their family business.

 

The MBA in Family Business & Entrepreneurship course structure in India as offered by top B-schools is shared below:

 

Key Facts about MBA in Family Business & Entrepreneurship Courses and Syllabus

  • MBA in Family Business & Entrepreneurship programme offers Core and Elective courses
  • Core courses in MBA in Family Business are compulsory courses offered in the first year and second year
  • In case of the colleges offering one year MBA in Family Business course, the core and electives are offered in first year itself
  • Elective courses in MBA Family Business & Entrepreneurship are offered in the second year, where students get the opportunity to choose from a basket of multidisciplinary courses and courses with functional depth in Family Business Management. 
  • Course delivery in the MBA in Family Business programme use a combination of the lectures, classroom discussions, industry interactions, case studies, individual and group projects, term papers, role plays, dissertations, business games, films and various experiential learning methods.
  • The concept of credits in MBA in Family Business is used to define the weightage of a course

MBA in Family Business & Entrepreneurship Courses & Syllabus

  • Business Environment and Strategy
  • Communication
  • Economics
  • Human Resource and Behavioral Sciences 
  • Finance
  • Information System
  • Marketing
  • Operations and Decision Sciences
  • Inter-disciplinary learnings
  • Seminar Courses/Workshops
  • Project – During Term End
  • Case Writing Projects
  • Courses of Independent Studies
  • Term End Integration - Selection of Directors & Board Members
  • Business Environment and Strategy
  • Distribution & Logistics Management
  • Building and Leading Sales Team The CEO Research Methodology for Entrepreneurs
  • Sustainable Innovations, Innovation, Change and Entrepreneur 
  • Valuation & Business Expansion
  • Compensation & Benefits
  • Market Analysis and value Creation
  • Building Social capital Venture growth strategies Government Policies and SME’s
  • Case writing –individual Companies submissions
  • Family relations during transition
  • Integrated Term End Project presentations and submissions