MBA in Family Business Management is a unique course that has been designed to address the needs of family business owners and managers. The program essentially aims at:
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MBA in Family Business Management is a rigorous, accelerated and application-oriented course. It intends to develop in students the requisite skills needed for:
The average course fee in India ranges between INR 1 and 15 lacs for the total duration. The average annual salary offered in the country to successful postgraduates of the field lies between INR 12 and 16 lacs.
Listed below are some of the major highlights of the course.
|Examination Type||Semester System|
|Eligibility||Graduation from a recognized university|
|Admission Process||Direct admission to colleges. Entrance test in some cases.|
|Course Fee||INR 1-15 lacs|
|Average Starting Salary||INR 12-16 lacs|
|Top Recruiting Fields/Areas||Leading MNCs, own firms, etc.|
|Job Titles||Entrepreneur, Business Administrator, Accounts Manager, Assistant Manager, etc.|
MBA in Family Business Management primarily addresses the following areas:
issues and problems that are pertinent in family businesses worldwide.
MBA in Family Business Management as an academic discipline, sheds light on the importance of family businesses as they represent a substantial proportion of the business sector. They face unique circumstances, especially with the global economy being constantly unpredictable. The program has been designed to help fledgling and visionary entrepreneurs to keep up with such changes and sustain in the competition. They play an active part in the organization to facilitate globalization, liberalization, and privatization of the firm.
Students wishing to study this course must have the ability to navigate uncertain and fluctuating economic conditions, and the course helps by:
The candidate must have the following skills to pursue the course:
Listed below are some of the top institutes offering Master of Business Administration [MBA] in Family Business Management in the country with the corresponding locations and fees charged by each.
|Name of Institute||City||Average Fees Per Annum in INR|
|Institute of Management, Nirma University (IMNU Ahmedabad)||Ahmedabad||3.8 lacs|
|Indian School of Business||Hyderabad||20 lacs|
|Indian Institute of Management||Bangalore||2.8 lacs|
|S. P. Jain Institute of Management and Research||Mumbai||6.45 lacs|
|School of Business Management, NMIMS University||Mumbai||8 lacs|
|Entrepreneurship Development Institute of India||Gandhi Nagar||2.6 lacs|
|Amity University||Noida||2.75 lacs|
|National Institute of Construction Management and Research||Pune||3 lacs|
|Hindustan University||Chennai||2.25 lacs|
Candidates wishing to apply for the course need to fulfill the following minimum eligibility criteria:
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Most institutes offering the course admit students based on their performance in a relevant entrance test followed by a round of Personal Interview. Some institutes conduct their own entrance tests for offering admission. Admission process generally varies across colleges. A few institutes also provide direct admission based on the candidate’s score at the level of graduation.
Some of the popular entrance exams held in the country for admission to the course are:
A semester-wise breakup of the course’s syllabus is tabulated below
|Family Business Management||Innovation and Creativity|
|Dynamics of family business governance||Social Entrepreneurship|
|Business Plan Preparation||Technology innovation and sustainable enterprise|
|Small Business Promotion||Business Plan and Ethics|
|Entrepreneurial Finance||Mergers and Acquisitions|
|Sickness and turnaround strategies||Organizational Behavior|
|Business Regulations||Managing Human Resource|
|Corporate Governance and Social Responsibility||Finance Management|
|Finance and tax strategies for family business||New Product Development|
|Cost and Management Accounting||Enterprise Resource Building|
Some of the popular professional avenues open to successful postgraduates of Master of Business Administration [MBA] in Family Business Management are listed below with the corresponding salaries offered for the respective positions.
|Job Position||Job Description||Average Annual Salary in INR|
|Entrepreneur||The job duties of an Entrepreneur include formulating policies that directly benefit the firm, managing and supervising daily operations of the firm, and planning effective use of materials and human resources. Their job areas are diverse and general in nature; hence they cover all areas of administration, personnel, purchasing, or administrative services.||10-18 lacs|
|Business Administrator||The job of Business Administrators is to handle the operational, organizational, and managerial responsibilities of the company they work under. The Business Administrator is also known as the CEO/ General Manager/ Operations Manager. The field of Business Administration is a highly competitive and demanding field.||12-16 lacs|
|Accounts Manager||They are responsible for managing a number of accounts pertaining to a company. They work to achieve high sales targets and oversee the work of Account Executives. Account Managers build relationships with new clients for overall growth in productivity.||6-8 lacs|