According to The Economist, family-controlled businesses now account for more than 19% of the Fortune Global 500 companies.
Nearly 67% of firms are family-run, alone in India. According to the 2014 article, By 2025, McKinsey projects there will be more than 15,000 enterprises worldwide with at least USD 1 billion in annual revenues, of which 37% would be family-owned businesses in emerging markets.
Family-run enterprises need help. How ready is the upcoming generation? How effectively will they run the company going forward?
According to the Economist article, it might be challenging for family-run enterprises to transition from a one-person general management method to a professional management approach.
Numerous Business Schools and MBA colleges are now offering an MBA in Family and Business Entrepreneurship to help with the issues of such businesses.
The MBA covers the concerns and issues that family enterprises face on a global scale in Family Business and Entrepreneurship.
In addition to introducing adjustments under the most recent market trends, they assist students in learning how to deal with complicated structures, hierarchy, and business governance.
The top MBA schools for family business and entrepreneurship are mentioned below in this article.
Below is a list of 11 popular MBA programs in India that provide family business and entrepreneurship courses.
Indian Institute of Management (IIM) Ahmedabad
IIM Ahmedabad is one of the most prestigious business schools in India and is considered a management education leader. The MBA in Family and Business Entrepreneurship program at IIM Ahmedabad is designed to provide students with the necessary knowledge and skills to start and manage a family business or to take over an existing one. The curriculum is designed to provide students with a solid foundation in business and management and an understanding of the unique challenges facing family businesses.
The program covers family business management, entrepreneurship, innovation, and strategy. Indian Institute of Management (IIM) Calcutta
IIM Calcutta is another highly reputable business school. The MBA in Family Business Management program is designed to provide students with a comprehensive understanding of family businesses' challenges. The curriculum covers family business governance, succession planning, and strategic management. Students will also have the opportunity to participate in case studies, simulations, and projects to help them develop the skills needed to manage a family business.
Indian Institute of Management (IIM) Bangalore
IIM Bangalore offers an MBA program in Family Business and Entrepreneurship Management, a unique program aimed at developing leaders of family-owned businesses. The program is designed to equip students with the knowledge and skills required to manage and grow a family business. The curriculum covers various topics, including family business governance, succession planning, strategic management, and entrepreneurship. The program also includes a capstone project that allows students to apply their learning to a real-world family business scenario. The program also provides mentorship opportunities and the chance to network with a community of family business leaders.
Indian Institute of Management (IIM) Lucknow
IIM Lucknow offers an MBA in Family Business Management program that provides students with the knowledge and skills needed to manage and grow a family business. The program covers many topics, including family business governance, succession planning, strategic management, and entrepreneurship. The curriculum includes case studies, simulations, and projects that allow students to apply their learning to real-world scenarios. Additionally, students can participate in mentorship programs, networking events, and other activities that help them connect with family business leaders.
Indian Institute of Management (IIM) Kozhikode
IIM Kozhikode offers an MBA in Family Business and Entrepreneurship program that is designed to provide students with the knowledge and skills needed to manage and grow a family business. The program covers many topics, including family business governance, succession planning, strategic management, and entrepreneurship. The curriculum includes case studies, simulations, and projects that allow students to apply their learning to real-world scenarios. Additionally, students can participate in mentorship programs, networking events, and other activities that help them connect with family business leaders.
Indian Institute of Technology (IIT) Delhi
IIT Delhi offers an MBA in Entrepreneurship and Family, providing students with the knowledge and skills needed to start and manage a family business. The program covers many topics, including family business governance, succession planning, strategic management, and entrepreneurship. The curriculum includes case studies, simulations, and projects that allow students to apply their learning to real-world scenarios. Additionally, students can participate in mentorship programs, networking events, and other activities that help them connect with family business leaders.
Indian Institute of Technology (IIT) Bombay
IIT Bombay offers an MBA in Entrepreneurship and Family Business program that is designed to provide students with the knowledge and skills needed to start and manage a family business. The program covers many topics, including family business governance, succession planning, strategic management, and entrepreneurship. The curriculum includes case studies, simulations, and projects that allow students to apply their learning to real-world scenarios. Additionally, students can participate in mentorship programs, networking events, and other activities that help them connect with family business leaders.
Indian Institute of Technology (IIT) Kharagpur
IIT Kharagpur offers an MBA in Entrepreneurship and Family Business program that is designed to provide students with the knowledge and skills needed to start and manage a family business. The program covers many topics, including family business governance, succession planning, strategic management, and entrepreneurship. The curriculum includes case studies, simulations, and projects that allow students to apply their learning to real-world scenarios. Additionally, students can participate in mentorship programs, networking events, and other activities that help them connect with family business leaders.
Indian Institute of Technology (IIT) Roorkee
IIT Roorkee offers various undergraduate, postgraduate and research programs in engineering, applied sciences, management, humanities and social sciences. IIT Roorkee does not offer MBA programs in Family Business and Entrepreneurship. However, it has a strong reputation in engineering and technology.
XLRI Jamshedpur
XLRI Jamshedpur's MBA in Family and Business Entrepreneurship is a two-year full-time program designed for individuals who wish to start or manage family-owned businesses. The program covers family business management, entrepreneurship, strategic management, and leadership. It also includes experiential learning opportunities like live projects, field visits, and industry interactions.
SPJIMR Mumbai
SPJIMR Mumbai's MBA in Family Managed Business (FMB) program is a two-year full-time program. It is designed for individuals who wish to manage or take over family-owned businesses. The program covers family business management, entrepreneurship, strategic management, and leadership. It also includes experiential learning opportunities like live projects, field visits, and industry interactions. The program also allows students to work on real-life family business projects.
In SPJIMR, Mumbai programs are designed to provide students with the knowledge and skills necessary to manage and grow a family-owned business successfully. These institutions are well known for providing quality education and have a good reputation in their respective regions.
