Family Business Courses

Family owned businesses contribute 70% to 80% of the global Gross Domestic Product (GDP). In India, approximately 85% of businesses are family-run businesses. India has a long drawn history of family businesses, Tata, Birla, Reliance and Mahindra are the best examples in this field.

What are family-run businesses? This is basically defined as the business in which two or more family members are involved and the ownership of control lies with the family.

The businesses have their own challenges, one being the difficulty in moving from the one-person general management approach to professional management approach. A leading magazine, The Economist, too has highlighted this problem. To address this, many B-schools in India are offering MBA/PGDM/BBA courses in Family Business which will train the future family business owners.

Family business courses are best suitable for next-generation family business owners, startup founders, and aspiring entrepreneurs. The programme offers an opportunity for candidates to expand and strengthen the existing business or even starting a new business. Some of the top MBA colleges that provide family business courses are IIM Bangalore, NMIMS Mumbai, SP Jain, Nirma University, Entrepreneurship Development Institute of India (EDII), Indian School of Business etc.

Family Business Courses Eligibility Criteria & Entrance Exams

• For admission to the BBA programme in the family business, candidates must have completed 10+2 or equivalent examination from a recognized board.
• The eligibility criteria for admission to the MBA/PGDM programme is graduation. Some institutes also require professional experience while some relax the experience for business owners.

Family Business Courses: Entrance exams

The admission process varies from institute to institute. Most institutes offer admission to family business courses on the basis of entrance exams followed by personal interview. Some institutes conduct their own entrance test for admission to family business courses. In some institutes, admission will be provided to candidates based on their performance at the national level management entrance exams. Few institutes also offer direct admission to candidates based on their marks in graduation. Some of the popular management entrance exams are given below.

CAT	MAT
CMAT	SNAP
XAT	ATMA
NMAT by GMAC	-

Know about all MBA entrance exams

Family Business Courses & Average Fees

Family business courses are available at graduate, postgraduate, and diploma levels. Aspiring candidates can pursue programmes like MBA in entrepreneurship & family business, PGDM in Family Managed Business, Post Graduate Programme in Management for Family Business etc. The fee for these courses usually ranges between Rs 3 lakh to Rs 37 lakh. Following are the popular Family business courses/programmes offered by the B-Schools along with their average fees.

Family business Courses	Average Fees
Post Graduate Programme in Management for Family Business (PGP MFAB)	Rs 37 lakh
Management Programme for Entrepreneurs and Family Businesses (MPEFB)	Rs 5 lakh
Post Graduate Programme in Family Managed Business (PGP-FMB)	Rs 11 lakh
MBA- Entrepreneurship & Family Business	Rs 9 lakh
MBA (Innovation & Entrepreneurship)	Rs 13 lakh
PGDM – Family Managed Business( PGDM – FMB)	Rs 7 lakh
Global Family Managed Business (Global FMB)	Rs 9 lakh
Post Graduate Diploma in Management - Business Entrepreneurship (PGDM-BE)	Rs 5 lakh
MBA (Family Business & Entrepreneurship)	Rs 3 lakh
MBA in Family Business Management	Rs 3 lakh
MBA in Entrepreneurship	Rs 5 lakh
Post Graduate Programme in Management of Family Owned Construction Business	Rs 6 lakh
PGP in Family Managed Business	Rs 8 lakh

Family Business Courses Syllabus

The subjects covered under this programme are understanding the family business, power and leadership, professionalization of family business, market research, and operations management among others. The subjects taught in MBA (Family Business Management) programme are given below.

Semester I
Family Business Management	Dynamics of family business governance
Business Plan Preparation	Small Business Promotion
Entrepreneurial Finance	-

 

Semester II
Innovation and Creativity	Social Entrepreneurship
Technology innovation and sustainable enterprise	Business Plan and Ethics
Mergers and Acquisitions	-

 

Semester III
Sickness and turnaround strategies	Business Regulations
Corporate Governance and Social Responsibility	Finance and tax strategies for family business
Cost and Management Accounting	-

 

Semester IV
Organizational Behavior	Managing Human Resource
Finance Management	New Product Development
Enterprise Resource Building	-

Read More:

10 Popular MBA in Family and Business Entrepreneurship Colleges in India

Family Business Courses – Scope, Profile & Salary

Candidates after completing family business courses may either take over their family businesses or start their own venture. Besides this, candidates can take managerial roles in business houses, MNCs or corporate houses in profiles like business administrator, business manager, accounts manager etc. The salary will depend on the type of work.

If candidates are involved in their own business or they become entrepreneurs, the profit generated will matter rather than the salary. The average salary offered to the business administrator is Rs 2 lakh and above per annum. If candidates join any company in the business manager’s position, the average salary will be Rs 7 lakh and above per year. The average salary of an accounts manager is Rs 5 lakh and above.

Following are the most popular Family Business Courses Colleges in India. Learn more about these Family Business Courses colleges (Courses, Reviews, Answers & more) by downloading the Brochure.

Following are the top-rated Family Business Courses courses, based on alumni reviews. Explore these reviews to choose the best course in Family Business Courses.

Following are the most popular Family Business Courses UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

Following are the most popular Family Business Courses PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.