An MBA helps in understanding the business environment and efficiently manage time and resources. Courses like MBA in entrepreneurship is devised with an aim to help you in creating and implementing startups and innovative ventures. With the rising competition, one needs to evolve with time even in their family businesses.
To help in improving one’s business, there are specialized courses designed in MBA to manage family business in a more professional way and leverage the benefits of globalization and digitalization. Some of the famous institutes providing MBA in family business and entrepreneurship include:
- Indian School of Business (ISB, Hyderabad)
ISB has a course named PGP MFAB which is a postgraduate program in MBA in family business and entrepreneurship. This is a 15-month course which is designed to help the new aged family business owners to run their business in a more professional way and use the best practices across the industry. The course is designed in such a way that there is no impact on their business and they can continue to run their business as well.
The program also includes two international assignments during the course in the US and in Europe to also visualize the international concepts of the family managed businesses.
- Indian Institute of Management, Bangalore
IIMB started this program in 2007 to enhance the quality of the management course taken up by the entrepreneurs and the family business owners. IIMB has also planned to start the MBA in entrepreneurship and family business including a series of online videos called as MOOCs (Massive Open Online Courses). IIMB with its experience throughout these years has been continuously revamping and redesigning the course curriculum. IIMB’s MBA in family business course is based on some common principles which include foundational learning, Peer learning, Action learning and Self-learning.
- Nirma University, Ahmedabad
Institute of Management Nirma University was started 20 years back. It is one of the institutes that provide MBA in family business and entrepreneurship. Overall the course has 60 seats, of which 15% are reserved for the NRIs and the students of Indian origin staying in the gulf and South East Asian countries. It has designed the curriculum of the program after discussion with family business owners, entrepreneurs, and subject experts. The course curriculum of Nirma includes simulations, lectures, case studies and live projects.
- SP Jain School of Global Management
SP Jain has a course named Global family managed business program. This is a 1-year course which is designed to provide knowledge to the owners of family businesses and help them tackle challenges specific to family businesses. The program involves the academia with a total combined experience of more than 100 years. The course is designed in such a way so that the students can apply the knowledge in their real business situations. The program includes a global business experience as well and combines the knowledge and application of latest tools and technologies in the family business.
- Narsee Monjee Institute of Management Studies
MBA in family business is also run by NMIMS, Mumbai. Here, this course is a weekend program for one year which is designed to equip the owners of the business with the latest techniques and knowledge of the modern management concepts. The knowledge acquired through MBA in family business and entrepreneurship conducted at NMIMS helps the owners equip with the knowledge to fight against the new generation business challenges. The course structure involves lectures by renowned and experienced faculty members followed by assignments. This also includes presentations by guest faculty and speakers.
MBA in family business is one of the latest courses of MBA and is of utmost demand because of the growing economy. More and more youngsters are taking up this course to learn new skills and get trained to run their family business in the best possible way.