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MBA in Family Business, Admission, Syllabus, Eligibility, Fees

The MBA in Family Business Management is a two-year postgraduate program featuring a distinctive curriculum tailored to impart knowledge on effectively managing and owning a family business. The program is designed to offer insights and expertise aimed at supporting the success of family-owned enterprises.
authorImageAnil Solonki16 Sept, 2023
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MBA in Family Business, Admission, Syllabus, Eligibility, Fees

To be eligible for admission to MBA in Family Business, candidates must hold a recognized bachelor's degree in fields like BBA, B.Com., B.Tech., or B.Sc. with a minimum aggregate score of 50%. Prospective students who possess strong communication skills and a genuine passion for managing family businesses can pursue this course. Admission can be secured by successfully clearing a recognized entrance examination such as CAT, NMAT, MAT, GMAT, XAT, and others.

The average annual course fee for MBA in Family Business Management typically ranges from INR 1,00,000 to INR 15,00,000. Upon graduation, individuals completing this program can expect attractive initial salary packages ranging from INR 12,00,000 to INR 16,00,000 at prominent multinational corporations.
  • This MBA program equips students with the knowledge to comprehend competitive dynamics and adapt to organizational changes driven by factors like globalization, privatization, and liberalization. Furthermore, it nurtures entrepreneurial skills, providing candidates with the opportunity to initiate and successfully operate their entrepreneurial ventures.

MBA in Family Business Management Admission Process?

MBA in Family Business Management is a postgraduate program that strictly admits students through an entrance examination, with no provision for merit-based admissions. Here are the steps to follow for securing admission to the MBA in Family Business Management: Examination Registration: Visit the official central-level examination portal and complete the registration by providing essential details like your name, email address, password, and more. Admit Card Download: Once the admit card becomes available, download it for the upcoming entrance examination. Appear for the Examination: On the designated examination day, take the entrance test. After achieving the required cutoff scores, proceed to apply to your preferred college. Registration: Complete the college registration process by furnishing crucial information, entrance examination scores, and attaching the necessary documents. Merit List: Each college compiles a merit list based on the candidates' entrance examination scores, establishing specific cutoffs for admission. Counseling Process : Candidates who meet the entrance examination score criteria must participate in a group discussion and a personal interview round as part of the final selection process.

What is the MBA in Family Business Management Eligibility Criteria?

Applicants who meet the following eligibility requirements are eligible to enroll in the PhD program in hospitality:
  • Candidates must possess a 10+2 examination certificate with a minimum aggregate score of 85% from a recognized board.
  • The candidate's undergraduate degree should be in one of the following disciplines: BBA, Bcom, Btech, or BSc from an accredited university.
  • Applicants should have achieved an aggregate score of at least 50% in their undergraduate degree.
  • Preference is given to candidates with a minimum of 2 years of professional work experience.

What are the MBA in Family Business Management Entrance Examinations?

Admission to the MBA in Family Business Management program relies on central-level exams such as CAT, XAT, CMAT, GMAT, and various others. These entrance exams encompass multiple sections, including passages for reading, reasoning based on aptitude, mathematical questions, and language assessment. Below, you'll find comprehensive details about the entrance exams pertinent to the MBA in Family Business Management.
Exam Name Exam Details
CAT Check Here
MAT Check Here
SNAP Check Here
IIFT Check Here
IBSAT Check Here
CMAT Check Here
MAH CET Check Here
NMAT Check Here
ATMA Check Here
XAT Check Here
TISSNET Check Here
TANCET Check Here

How to prepare for MBA in Family Business Management Entrance Examinations?

All the entrance exams considered for MBA in Family Business Management admissions share similarities and employ an objective assessment approach encompassing aptitude, reasoning, mathematics, and language evaluation. Here are some valuable tips and strategies to keep in mind when preparing for these entrance examinations:
  • Assess your capabilities and align your preparation with the specific examination pattern adopted for MBA in Family Business Management.
  • Strengthen your understanding of managerial subjects, including but not limited to business laws, entrepreneurial management, and marketing management.
  • Regularly practice questions related to passages, aptitude, and reasoning to enhance your time management skills.
  • Effectively allocate time to each section to ensure comprehensive syllabus coverage within the designated timeframe.
  • Cultivate a strong command of data interpretation and language comprehension through consistent practice.
  • Engage in frequent solving of mock papers to gauge your progress and stay updated on essential topics that require preparation.

How to get into a good MBA in Family Business Management College?

Here are some factors to consider when seeking admission to a reputable MBA Actuarial program:
  • Thoroughly prepare for the entrance examination to secure a high score and secure a seat in a well-regarded MBA Actuarial college.
  • Practice for the group discussion and interview phase, demonstrating fluency in language and a strong knowledge base.
  • Select colleges based on your preferences and familiarize yourself with the admission requirements of your desired institution.
  • Ensure you have your research thesis and work experience documentation ready to earn favorable scores during the entrance examination and counseling phase.
  • Stay informed about important dates, such as registration and counseling deadlines, and adhere to them diligently.

What is MBA in Family Business Management about?

MBA in Family Business Management is a distinctive program that can be characterized by the following key points:
  • It is a postgraduate course with a strong emphasis on family-owned businesses and strategies for enhancing their performance in the corporate landscape.
  • The program equips students with a diverse skill set, empowering them to embark on entrepreneurial ventures and effectively implement innovative changes within their business endeavors.
  • It fosters an understanding of the impacts of globalization, liberalization, and privatization on businesses.
  • Eligible candidates, having completed their undergraduate studies with a minimum aggregate score of 55%, can pursue this course upon successfully clearing the entrance examination.
  • This program is often pursued after obtaining a B.Sc. or B.Com. degree, allowing students to specialize in a particular area and acquire in-depth knowledge of the subject.
  • MBA in Family Business Management offers opportunities for students to either launch new entrepreneurial ventures or effectively manage and grow existing family businesses.

Also Read:

MBA in Finance Course MBA in HR
MBA in Banking & Financial Services MBA in International Business
MBA in Rural Management MBA in Business Analytics
MBA Agri Business Management MBA in Healthcare Management

Why study MBA in Family Business Management?

MBA in Family Business Management plays a pivotal role in nurturing and inspiring the entrepreneurial spirit among young individuals, enabling them to cultivate best practices for effectively managing family businesses.
  • The program instructs candidates in exploring various aspects of business continuity, including succession planning, seizing opportunities, conducting failure and risk analyses, and managing tax and financial aspects.
It equips students to strike a harmonious balance between theoretical knowledge and practical application. Furthermore, it empowers learners to explore new avenues for applying the skills they have acquired during the program.
  • MBA in Family Business Management serves as a launchpad for individuals currently in executive or managerial roles, encouraging their transition into family business operations. Whether the business is of substantial scale or more modest proportions, students are trained to efficiently oversee its management.

MBA in Family Business Management Course Highlights:

Here is a enchanting MBA in Family Business Management Course highlights listed below:
Course Level Post graduation
Full-Form Masters of business administration in Family Business Management
Duration 2 years
Examination type Semester Examination
Eligibility Graduation degree of BBA, Bcom, Btech and BSc from a recognized university
Admission Process Entrance Examination + Counseling
Course Fee INR 1,00,000 to INR 15,00,000/-
Average Salary INR 12,00,000 to INR 16,00,000/-
Job Positions Entrepreneur, Business Administrator, Accounts Manager, Assistant Manager, etc.

MBA in Family Business Management Colleges

Here is a compilation of prominent institutions offering MBA programs in Family Business Management:
College Name Location Average Fees Average Salary Package
Sona School of Management Salem INR 41,000 5 LPA
Sandip Institute of Technology and Research Nashik INR 150,00 3.5 LPA
Galgotia University of Business Greater Noida INR 159,000 6 LPA
Royal Global University Guwahati INR 247,000 5.2 LPA
Dr. DY Patil Institute of Management and Research Pune INR 130,000 8 LPA
Amity University Mumbai INR 515,000 6.8 LPA
Shri RamSwaroop Memorial Institute Lucknow INR 132,000 6 LPA
Parul University Vadodara INR 90,000 4.8 LPA
University of Technology Jaipur INR 90,000 3.8 LPA
Institute of Business Management and Research Pune INR 80,000 5.2 LPA

MBA in Family Business Management Syllabus

Here are some subjects which are taught for MBA in Family Business Management:

Semester I

Semester II

Family Business Management Innovation and Creativity
Dynamics of family business governance Social Entrepreneurship
Business Plan Preparation Technology innovation and sustainable enterprise
Small Business Promotion Business Plan and Ethics
Entrepreneurial Finance Mergers and Acquisitions

Semester III

Semester IV

Sickness and turnaround strategies Organizational Behavior
Business Regulations Managing Human Resource
Corporate Governance and Social Responsibility Finance Management
Finance and tax strategies for family business New Product Development
Cost and Management Accounting Enterprise Resource Building

MBA in Family Management Business Important Books

Here are some recommended reference books for MBA in Family Business Management:
Name of the Book Author
Take Charge of Your Family Business S A Krishnan
Business Organization and Management Dr. Asthana, Dr. Sahal
Business and Form of Organization S. C. Gupta and V. K. Kapoor
Macroeconomic Theory and Policy. William H Branson
Mathematical Statistics J.E.Freund

List of Colleges offering MBA in Family Business Management

The following are the colleges that have been ranked as the best among those offering MBA in Family Business Management:
Name of Institute Location Admission Procedure Average Fees
SIBM Bangalore Entrance Examination INR 6.95 Lacs
Institute of Management, Nirma University (IMNU Ahmedabad) Ahmedabad Entrance Examination INR 3.8 lacs
Indian School of Business Hyderabad Entrance Examination INR 20 lacs
Indian Institute of Management Bangalore Entrance Examination INR 2.8 lacs
S. P. Jain Institute of Management and Research Mumbai Entrance Examination INR 6.45 lacs

MBA in Family Business Management Jobs Prospects and Career Options?

Upon finishing an MBA in Family Business Management, individuals can adeptly elevate and elevate their family-owned enterprises through the application of acquired skills. Additionally, the program's curriculum imparts fundamental knowledge of business management and administration, thereby nurturing students' entrepreneurial abilities, enabling them to launch new business ventures triumphantly. Furthermore, graduates have the potential to assume roles such as business administrators and account managers in multinational corporations (MNCs) and other organizations. Here are several potential job positions available to those who have completed an MBA in Family Business Management:
Job Position Job Description Average Annual Salary in INR
Entrepreneur The entrepreneur formulates policies that directly benefit the firm, manages and supervises the daily operations of the firm, and plans the effective use of materials and human resources. 10-18 LPA
Business Administrator Business administrators handle the operational, organizational, and managerial responsibilities of the company they work for. The business administrator is also known as the CEO, general manager, or operations manager. 12-16 LPA
Accounts Manager He or she is responsible for managing a number of accounts pertaining to a company. They work to achieve high sales targets and oversee the work of account executives. 6-8 LPA
Relationship Manager A relationship manager is responsible for the overall relationship of the company in terms of business and finance. 4-6 LPA
Management Consultant A management consultant usually provides insights and guides in the process of managing business and taking it forward. 5-8 LPA

MBA in Family Business Management Future Scope?

Upon completing an MBA in Family Business Management, various promising career avenues become accessible, including:
  • Graduates holding an MBA in Family Business Management are well-equipped to assume roles as account managers, business administrators, or finance managers in prominent multinational corporations (MNCs).
  • Individuals with aspirations for further academic pursuits can opt for a Ph.D. in the same field. A Ph.D. program in this discipline not only enhances students' knowledge but also fosters a more research-oriented mindset.
  • Post-MBA in Family Business Management, individuals have the option to pursue a career as a lecturer or assistant professor at academic institutions or educational centers, provided they qualify the NET (National Eligibility Test).
Those with entrepreneurial ambitions can either establish new business ventures or effectively continue the management of their existing family businesses for sustained success.

MBA in Family Business FAQs

What is the eligibility criteria for MBA Family Business Management?

To be eligible for MBA Family Business Management, candidates typically need a bachelor's degree from a recognized university with a minimum aggregate score, and they may also need to clear a relevant entrance exam.

How long does it take to complete an MBA in Family Business?

An MBA in Family Business is usually a two-year program, but the duration may vary depending on the specific university or institution offering the course.

What are the career prospects after completing an MBA in Family Business?

Graduates can pursue various career paths, including managing family-owned businesses, working in consulting firms, entering entrepreneurship, or taking on leadership roles in other organizations.

Can I apply for an MBA in Family Business if I don't have a family business background?

Yes, many MBA Family Business Management programs admit students without a family business background. These programs provide valuable skills and knowledge applicable to a wide range of business scenarios.

What subjects are typically covered in an MBA Family Business Management curriculum?

The curriculum often includes courses in family business governance, entrepreneurship, succession planning, financial management, and leadership, among others, to prepare students for the unique challenges of family-run enterprises.
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