Family Business: A Programme for Establishing Family Business
Those days are gone when an heir could take over the charge of parental business as per his/her convenience with limited business knowledge. In today's dog-eat-dog competitive scenario, it's vital to be well acquainted with the intricacies of different aspects of business.
A programme in family business management is one of the hot choices of Indian students. This programme differs from regular MBA courses, and primarily targets concepts such as entrepreneurial evolvement.
A BBA course in Family Business Management has been recently introduced by Amity School of Business. The course will commence from July, 2010. The fee of each of the six semesters of this three-year course is Rs. 1,15,500.
Alka Munjal, Director, Amity School of Business-Noida (www.amity.edu) said, "All basic areas of management such as marketing, finance, information technology and law are covered. The focus, however, of all the teaching is geared towards managing small business," All basic areas of management such as marketing, finance, information technology and law are covered. The focus, however, of all the teaching is geared towards managing small business."
If we talk about the eligibility criteria, a candidate should have cleared 10+2 with minimum 60 per cent marks & should also have an established family business.
Besides Amity, some top B-schools such as Indian Institute of Management, Bangalore (IIM-B), SP Jain Institute of Management and Research, Mumbai (www.spjimr.org), are also offering varied family management programmes, mostly as post graduate degrees. IIM-B introduced Management Programme for Entrepreneurs and Family Businesses (MPEFB) in the year 2006.
This one-year programme, with a fee of Rs. 4 lakh, in Family Business Management is imparted at the N S Raghavan Centre for Entrepreneurial Learning. Ganesh N. Prabhu, Professor of strategy at IIM-B, said, "The course is tailored for those who are reasonably successful in their business. We help them in formulating effective business strategies and ensuring steady growth." Once the students finish this programme, they are groomed adequately to become successful entrepreneurs in their lives.
The students can also choose the incubation process & present a detailed business plan to already successful entrepreneurs and faculty members. The student projects are under complete supervision of a team of mentors, and regular reviews & meetings are scheduled with angel investors etc.
Source: Shiksha Team
Date: 5th August, 2010
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