Family Business Courses: Admission 2024, CAT 2023, Fees, Exams, Syllabus, & Career Scope

Vipra ShrivastavaSenior Manager - Content
Family Businesses contribute 70 to 80 per cent of the global Gross Domestic Product (GDP). In India, approximately 85 per cent of businesses are family-run. India has a long history of family business and Tata, Birla, Reliance and Mahindra groups are the best examples of it.
What is a family business? Family Business is defined as a business in which two or more family members are involved and the ownership of control lies with the family.
One may think that in a family business set-up knowledge and training is passed on from one generation to another or that the family member have a natural flair of business management because it is in their genes. However, that is not enough to run a business empire set up with decades of hard work. A lot more is needed to run a family business. Which is why, the Family Business courses.
In India, several B-schools offer BBA and MBA/PGDM in Family Business. These courses are best suited for the next-generation family business owners, startup founders and aspiring entrepreneurs. The family business programme offers an opportunity to an individual to expand and improve the knowledge and skills for running the existing business or even starting a new business. Some of the top MBA colleges offering family business courses are NMIMS Mumbai, SP Jain, Nirma University, Entrepreneurship Development Institute of India (EDII), Indian School of Business, etc.
Family Business Courses Eligibility Criteria & Entrance Exams
One can pursue family business courses at both undergraduate (UG) and postgraduate (PG) levels. Check eligibility criteria for family business courses below:
- For admission to BBA in Family Business, candidates must have completed Class 12 or equivalent examination from a recognised board.
- The eligibility criteria for admission to the MBA in Family Business is graduation. Some institutes also require professional experience while some relax the experience for business owners.
Required Skillset for Family Business
Given below are the key skill oen should possess and improve during the course to be able to run a family business:
- Business Aptitude
- Leadership Qualities
- Marketing Skills
- Organisational Skills
- Financial Accounting Skills
- Adaptability
- Critical Thinking
- Strong Mathematical Skills
- Team Management
- Self-Starter and Ability to take Ownership
- Communication Skills
Entrance Exams for Family Business Courses
Since Family Business course is a part of management stream, and offered as a specialisation in MBA (or BBA) admission is usually based on entrance exams. Some institutes conduct their own entrance test whereas some accept the national-level MBA entrance exam scores for admission. Few institutes also offer direct admission to candidates based on their marks in graduation. Some of the popular management entrance exams are given below:
MBA Entrance Exams for Family Business |
|
---|---|
Also Read: All MBA entrance exams
Family Business Course: Syllabus and Subjects
Subjects covered under Family Business include power and leadership, professionalisation of family business, market research, and operations management among others. The syllabus of MBA Family Business Management course is given below for reference:
MBA in Family Busines Syllabus Semester I |
||
---|---|---|
Family Business Management |
Dynamics of family business governance |
|
Business Plan Preparation |
Small Business Promotion |
|
Entrepreneurial Finance |
- |
|
MBA in Family Busines Syllabus Semester II |
||
Innovation and Creativity |
Social Entrepreneurship |
|
Technology innovation and sustainable enterprise |
Business Plan and Ethics |
|
Mergers and Acquisitions |
- |
|
MBA in Family Busines Syllabus Semester III |
||
Sickness and turnaround strategies |
Business Regulations |
|
Corporate Governance and Social Responsibility |
Finance and tax strategies for family business |
|
Cost and Management Accounting |
- |
|
MBA in Family Busines Syllabus Semester IV |
||
Organizational Behavior |
Managing Human Resource |
|
Finance Management |
New Product Development |
|
Enterprise Resource Building |
- |
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 INR 3 lakh to INR 37 lakh. Following are the popular family business courses/programmes offered by the B-Schools along with their average fees.
MBA Colleges |
Family Business Course / Department |
*Fee (Approx.) |
---|---|---|
Global Family Managed Business |
INR 15,00, 000 |
|
Master of Business Administration (Entrepreneurship & Family business) |
INR 20, 84, 000 |
|
SP Jain Institute of Management and Research, Mumbai
|
Post Graduate Program in Family Managed Business (PGPFMB) |
INR 13, 04, 000 |
Owner Management Program (OMP) |
INR 3, 00, 000 |
|
MBA (Family Business & Entrepreneurship) |
INR 3, 81, 000 |
|
Management Programme for Family Business (MFAB) |
INR 41, 98, 000 |
|
National Institute of Construction Management and Research (NICMAR) |
Post Graduate Programme in Management of Family Owned Construction Business |
INR 7, 10, 000 |
Post Graduate Diploma in Management - Business Entrepreneurship (PGDM-BE) |
INR 5, 27, 000 |
|
MBA in Family Business Management |
INR 6,80, 000 |
|
MBA in Entrepreneurship |
INR 5, 18, 000 |
|
PGP in Family Managed Business |
INR 8, 48, 000 |
|
MBA in Family Business and Entrepreneurship |
INR 4, 58, 300 |
|
WE School - Prin L N Welingkar Institute of Management Development and Research |
PGP in Entrepreneurship Management |
INR 7, 00, 000 |
Also Read:10 Popular MBA in Family and Business Entrepreneurship Colleges in India
Family Business: Scope, Profile & Salary
Candidates after completing the family business courses may either join their family businesses or start their own venture. Besides this, candidates can take up 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 role and profile.
If candidates join their own business or they become entrepreneurs, the profit generated will be their earning. In case of joining a company, the average salary offered to the business administrator is INR 4 lakh and above per annum. If candidates join any company in the business manager position, the average salary will be INR 7 lakh and above per year. The average salary of an accounts manager is INR 5 lakh and above.
FAQs on Family Business Courses
Q: What are the types of family business?
- Simple Business, simple family
- Simple Business, complex family
- Complex business, simple family
- Complex business, complex family
Q: What is the admission process for MBA in Family Business?
Q: Can I purse a management course in Family Business online?
Q: Which entrance exams are there for MBA in Family Business?
Q: I am pursuing Science in graduation but want to join my family business. Should I do an MBA?
Q: What are the key skills taught in a family business course?
Q: What is BBA in Family Business?
Q: Which are the top family businesses in the world?
Q: What is MBA in Family Business?
Q: What is the eligibility criteria for MBA in Family Business?
Popular Family Business Courses Colleges in India
Family Business Applications open. Apply Now
Popular Private Family Business Courses Colleges in India
Family Business Applications open. Apply Now
Most Popular Courses
Popular Courses
- Post Graduate Programme in Family Managed Business (PGP-FMB)S.P. Jain Institute of Management and Research, Mumbai
- MBA in Family Business and EntrepreneurshipInstitute of Management, Nirma University
- Bachelor of Business Administration (BBA)PES University
- M.Com. in Entrepreneurship and Family BusinessGoswami Ganesh Dutta S.D. College
- BBA in Family BusinessInstitute of Business Management, GLA University
- Bachelor of Business Administration ( BBA Hons.)Institute of Business Management, GLA University
- Bachelor of Business Administration (BBA)Institute of Business Management, GLA University
- Online Master of Business Administration (MBA)Amity University Online
- Bachelor of Business Administration (BBA)MIT Arts, Commerce and Science College
- Post Graduate Diploma in Management (PGDM)Delhi School of Business
Popular Family Business Courses UG Courses in India
UG Courses
- BBA
38 Colleges
- B.A.
1 College
- B.Com
1 College
- UG Diploma
1 College
Popular Family Business Courses PG Courses in India
PG Courses
- MBA/PGDM
68 Colleges
- PG Diploma
4 Colleges
- Executive MBA/PGDM
2 Colleges
- M.Com
2 Colleges
- M.Sc.
1 College
News & Updates
Student Forum
Answered 2 months ago
The fee structure for MBA in Family Business and Entrepreneurship at Amity University, Patna is INR 2.93 Lacs per year.
However, this is just the tuition fees. There are also other fees that you will need to pay, such as the hostel fee, the mess fee, and the library fee. The total cost of studying MB
Taking an Exam? Selecting a College?
Find insights & recommendations on colleges and exams that you won't find anywhere else
On Shiksha, get access to
- 61k Colleges
- 929 Exams
- 460k Reviews
- 900k Answers
- Agriculture & Food Business
- Business Economics
- Digital Marketing
- Online Digital Marketing
- MBA in Digital Marketing
- Disaster Management
- Energy & Environment
- Entrepreneurship Courses
- Finance
- MBA in Healthcare Management
- Human Resources
- Import & Export
- Infrastructure Courses
- International Business
- IT & Systems
- Materials Management
- NGO Management
- Oil & Gas Courses
- Operations
- Pharma
- Retail Courses
- Rural Management
- Sales & Marketing
- Sports Management
- Supply Chain
- Telecom Courses
- Textile Management
- Transport & Logistics Courses
- Business Analytics
- Data Science
What is the fee structure for MBA in Family Business and Entrepreneurship at Amity University, Patna?