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Overview
MBA In Family Business Management: MBA in family business management is a two-year programme that enables students to learn about modern businesses' needs and requirements. The changing trends result in the conditions of an MBA degree that provides firms with successful growth. Made in India concepts have gained massive importance in recent years. By doing an MBA in Family, Business management candidates will boost their family businesses instead of handling other companies. Under this 2-year postgraduate programme, candidates will be given a thorough knowledge of the economy and environment. Candidates will be guided toward the working of the economies and how the situations need to be handled under the changing business trends
Why MBA In Family Business Management?
India is always known for family businesses. Changing trends somehow shifted the focus of the students of the Indian economy, and many of the people moved to find rewarding job positions. However, the insufficient knowledge of the students dragged them to opt for a job rather than expanding their family business. To boost Family Businesses in India and the "made in India concept", the government is now supporting its youth to convert their small family businesses to business Tycoons. MBA in Family Business Management is the only management programme that guides students to grow their family business by evaluating the current business statistics..
What is MBA In Family Business Management?
MBA in family business management is a 2-year postgraduate programme that guides the students through the changing trends of the growing economies. The next generation under this programme learns about the uncertainties of the business world and prepares itself on how to deal with them. The course gives the students practical exposure to family business management and its contribution to the Global GDP. According to EY, family businesses contribute around 70%-80% of the global GDP. In India, family-run companies account for more than 85%. However, these businesses cannot progress due to insufficient funds or insufficient knowledge on allocating resources. An MBA in Family Businesses Management can be a stepping stone for a candidate looking to make a standout in the family business.
Types of Course
MBA in Family Business Management Courses
MBA in Family Business Management Course details are given below:
| Duration | 2 year |
| Eligibility | Bachelor’s degree with 50% marks and valid scores in any MBA exams of national level. |
| Admission Process | Merit-based as well as Entrance-based |
| Course Fee | INR 1 to 12 lakhs |
| Average Salary | INR 10 to 15 Lakhs per annum |
Admission Process
MBA in Family Business Management Admission Process
MBA in Family Business Management admission process are divide into four steps:
- Apply for MBA Entrance Exams
- Attend the Entrance Exam
- Shortlisting Process
- Written Ability Test (WAT), Group Discussion (GD) and Personal Interview (PI)
Eligibility
MBA in Family Business Management Eligibility
The eligibility criteria for MBA in Family Business Management are as follows:
| Parameters | Description |
|---|---|
| Minimum Educational Qualification | Graduation |
| Minimum Marks | 50% (General and NC/OBC) |
| Relaxation for Reserved Categories | 45% |
| Age Limit | None |
Admission
MBA in Family Business Management Admission 2021
MBA in Family Business Management Admission is divide in three steps which are given below:
- Apply for the Entrance Exams (CAT, CMAT, MAT, SNAP, XAT etc.)
- Appear at Entrance Exams & Pass the Cutoff
- Final Admission Round (Written Ability Test (WAT), Group Discussion (GD) and Personal Interview (PI))
Subjects
MBA in Family Business Management Subjects
List of subjects of MBA in Family Business Management Subjects are as follow:
- Business Communication
- Business Plan and Project Implementation
- Business Statistics and Analytics for Decision Making
- Buying an Existing Business
- Computer Applications for Business
- Corporate Entrepreneurship
- Corporate Social Responsibility and Sustainability
- Corporate Strategy
- Developing the Project Report
- Entrepreneurial Development
- Entrepreneurial Finance
- Entrepreneurship
- Entrepreneurship Theory & Practice
- Family Business Management
- Finance for Managers
- Financial Reporting, Statements and Analysis
- Growth Plan Formulation
- Human Resources Management
- Identifying, Starting and Growing a Social Venture
- Indian Economy and Policy
- Indian Ethos and Business Ethics
- Indian Financial System and Financial Markets
- Launching and Managing an Enterprise
- Legal and Business Environment
- Management Skills for Effectiveness
- Managerial Economics
- Managing Innovation and Technology
- Marketing Management
- Marketing Research
- New Enterprise Financing & Appraisal
- Operations Management
- Opportunity Sensing and Preparing for Launch
- Organization Design
- Organizational Behaviour
- Organizational Study
- Project Formulation and Feasibility Analysis
- Project Management
- Quantitative Techniques
- SIP and Research
- Strategic Leadership in Family Business
- Technology Commercialization & Entrepreneurial Innovation
Colleges in India
MBA in Family Business Management Colleges in India
The following are the colleges in India that are offered MBA in Family Business Management:
| College Name | Fees |
|---|---|
| Indian Institute of Management (IIM), Bangalore | INR 5.53 lakh |
| Amity Global Business School – (AGBS), Malad West, Mumbai | INR 7.44 lakh |
| Prin L.N Welingkar Institute Of Management Development & Research, Mumbai | INR 7.00 lakh |
| Symbiosis Institute of Business Management (SIBM), Pune | INR 13.2 lakh |
| S. P. Jain Institute of Management and Research, Mumbai | INR 11.05 lakh |
| NMIMS University, Mumbai | INR 9.06 lakh |
| Praxis Business School, Kolkata | INR 6.0 lakh |
Colleges in Abroad
MBA In Family Business Management Colleges Abroad
MBA in Family Business Management Abroad is trendy course in Canada, Italy, United States, Spain, United Kingdom etc. It is 01-02 years course. The following are the colleges in Abroad (Canada, Italy, United States, Spain, United Kingdom) that are offered MBA in Family Business Management: .
| College Name | Fees |
|---|---|
| University of Alberta, Canada | INR 16.06 Lakhs |
| Bocconi University/SDA Bocconi, Italy | INR 49.02 Lakhs |
| University of Barcelona, Spain | INR 18 Lakhs |
| Northwestern University, USA | INR 74.71 Lakhs |
| IE Business School, Spain | INR 33 Lakhs |
| London Business School, United Kingdom | INR 37 Lakhs |
Scope
MBA In Family Business Management Scope
MBA in Business Management can be a rewarding career opportunity for candidates who are willing to grow their family business, their friends family business, or family businesses that have been established over the years. Family businesses like Godrej and Reliance have been the top players of the market. The growth of these businesses is so exponential that they are contributing to the Indian economies at a massive scale. The course is rewarding for the next generation of family business owners/ successors/ startup founders and aspiring entrepreneurs. The course is conducted with a combination of lectures, industry interactions, group projects, case studies, and more.
Jobs
MBA in Family Business Management Fresher Jobs
MBA in Family Business Management fresher can apply fob in the field of Family Business Management. Some of Job profiles are as follow:-
- Accounts Manager
- Business Administrator
- Entrepreneur
- Management Consultant
- Relationship Manager
Salary
MBA in Family Business Management Salary in India
Average Salary of Some Job profiles in the Family Business Management field are as follow:
| Job profile | Average Salary |
|---|---|
| Accounts Manager | ₹ 6 Lakhs |
| Business Administrator | ₹ 13 Lakhs |
| Entrepreneur | ₹ 14 Lakhs |
| Management Consultant | ₹ 5 Lakhs |
| Relationship Manager | ₹ 5 Lakhs |
Frequently Asked Questions (FAQ)
MBA in Family Business Management FAQs
Ques: What is the Duration of the Course MBA in Family Business Management?
The complete duration of the course is two years
Ques: What are the Top-B Schools Offering MBA in Family Business Management?
Top MBA colleges offering Family Business Management Courses in India are:
- IIM Bangalore--Management Programme for Entrepreneurs and Family Businesses (MPEFB) and Management Programme for Women Entrepreneurs (MPWE)
- S P Jain
- Nirma University
- NMIMS Mumbai
Ques: What are the attractive Salary Packages that One can Expect After the Course Completion?
The skilled professionals can bag an attractive salary package ranging from Rs 5-10 lakhs.
Admission 2021
MBA in Family Business Management Admission 2021
MBA in Family Business Management Admission is divide in three steps which are given below:
- Apply for the Entrance Exams (CAT, CMAT, MAT, SNAP, XAT etc.)
- Appear at Entrance Exams & Pass the Cutoff
- Final Admission Round (Written Ability Test (WAT), Group Discussion (GD) and Personal Interview (PI))
Admission Process
MBA in Family Business Management Admission Process
MBA in Family Business Management admission process are divide into four steps:
- Apply for MBA Entrance Exams
- Attend the Entrance Exam
- Shortlisting Process
- Written Ability Test (WAT), Group Discussion (GD) and Personal Interview (PI)
Eligibility
MBA in Family Business Management Eligibility
The eligibility criteria for MBA in Family Business Management are as follows:
| Parameters | Description |
|---|---|
| Minimum Educational Qualification | Graduation |
| Minimum Marks | 50% (General and NC/OBC) |
| Relaxation for Reserved Categories | 45% |
| Age Limit | None |
Subjects
MBA in Family Business Management Subjects
List of subjects of MBA in Family Business Management Subjects are as follow:
- Business Communication
- Business Plan and Project Implementation
- Business Statistics and Analytics for Decision Making
- Buying an Existing Business
- Computer Applications for Business
- Corporate Entrepreneurship
- Corporate Social Responsibility and Sustainability
- Corporate Strategy
- Developing the Project Report
- Entrepreneurial Development
- Entrepreneurial Finance
- Entrepreneurship
- Entrepreneurship Theory & Practice
- Family Business Management
- Finance for Managers
- Financial Reporting, Statements and Analysis
- Growth Plan Formulation
- Human Resources Management
- Identifying, Starting and Growing a Social Venture
- Indian Economy and Policy
- Indian Ethos and Business Ethics
- Indian Financial System and Financial Markets
- Launching and Managing an Enterprise
- Legal and Business Environment
- Management Skills for Effectiveness
- Managerial Economics
- Managing Innovation and Technology
- Marketing Management
- Marketing Research
- New Enterprise Financing & Appraisal
- Operations Management
- Opportunity Sensing and Preparing for Launch
- Organization Design
- Organizational Behaviour
- Organizational Study
- Project Formulation and Feasibility Analysis
- Project Management
- Quantitative Techniques
- SIP and Research
- Strategic Leadership in Family Business
- Technology Commercialization & Entrepreneurial Innovation
Colleges in India
MBA in Family Business Management Colleges in India
The following are the colleges in India that are offered MBA in Family Business Management:
| College Name | Fees |
|---|---|
| Indian Institute of Management (IIM), Bangalore | INR 5.53 lakh |
| Amity Global Business School – (AGBS), Malad West, Mumbai | INR 7.44 lakh |
| Prin L.N Welingkar Institute Of Management Development & Research, Mumbai | INR 7.00 lakh |
| Symbiosis Institute of Business Management (SIBM), Pune | INR 13.2 lakh |
| S. P. Jain Institute of Management and Research, Mumbai | INR 11.05 lakh |
| NMIMS University, Mumbai | INR 9.06 lakh |
| Praxis Business School, Kolkata | INR 6.0 lakh |
Colleges in Abroad
MBA In Family Business Management Colleges Abroad
MBA in Family Business Management Abroad is trendy course in Canada, Italy, United States, Spain, United Kingdom etc. It is 01-02 years course. The following are the colleges in Abroad (Canada, Italy, United States, Spain, United Kingdom) that are offered MBA in Family Business Management: .
| College Name | Fees |
|---|---|
| University of Alberta, Canada | INR 16.06 Lakhs |
| Bocconi University/SDA Bocconi, Italy | INR 49.02 Lakhs |
| University of Barcelona, Spain | INR 18 Lakhs |
| Northwestern University, USA | INR 74.71 Lakhs |
| IE Business School, Spain | INR 33 Lakhs |
| London Business School, United Kingdom | INR 37 Lakhs |
Fresher Jobs
MBA in Family Business Management Fresher Jobs
MBA in Family Business Management fresher can apply fob in the field of Family Business Management. Some of Job profiles are as follow:-
- Accounts Manager
- Business Administrator
- Entrepreneur
- Management Consultant
- Relationship Manager
Salary
MBA in Family Business Management Salary in India
Average Salary of Some Job profiles in the Family Business Management field are as follow:
| Job profile | Average Salary |
|---|---|
| Accounts Manager | ₹ 6 Lakhs |
| Business Administrator | ₹ 13 Lakhs |
| Entrepreneur | ₹ 14 Lakhs |
| Management Consultant | ₹ 5 Lakhs |
| Relationship Manager | ₹ 5 Lakhs |
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