To ensure that the new generation of entrepreneur is well-grounded in all aspects of managing businesses,the Indian Institutes of Management (IIMs) and other B-schools are focusing on the oldest and the most common type of business — the family business.
IIM-Bangalore (IIM-B) is offering a course called Management Program for Entrepreneurs and Family Business (MPEFB). The course takes into consideration the limited time with entrepreneurs, while not compromising on the learning process.
The course, to be conducted under the institute’s NS Raghavan Centre for Entrepreneurial Learning (NRSCEL), has been designed for graduate entrepreneurs and those running family businesses, between the age group 25-45. The course will be conducted from February 9, 2009 to Feb 5, 2010.
The objective of this programme, according to IIM-B, is to enhance the quality of business management skills in the entrepreneurial firms by providing a workable model for the entrepreneurs. A certificate would be offered by NSRCEL on completion.
IIM-Indore (IIM-I) has also announced a Post graduate Certificate Programme in Family Owned Business and Entrepreneurship ( PGCFOBE ). Aimed at entrepreneurs, members of family-owned businesses and managers of entrepreneurial and family-owned businesses, the programme aims to benefit those who want to grow their business and would also be beneficial for professionals wishing to start their own business.
IMD, a leading global business school, had recently held the Annual Family Business Network World Summit in New Delhi, with the theme ‘Family Business Values - For Sustainable Success in the Global Economy’. Joachim Schwass, family business professor at IMD, said: “In India, around 95 per cent of all registered companies are family businesses or founded by entrepreneurial families. Therefore, it becomes imperative that the nuances of relationships be understood and worked upon so that family-run businesses are strengthened and are able to expand in the global arena.”
For those wishing to expand their family business, the Institute of Management at Nirma University offers an MBA in Family Business and Entrepreneurship. The two-year full-time programme, approved by the All India Council for Technical Education, is designed to meet the career requirements of young men and women hailing from business families.
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Similarly, Ahmedabad-based Entrepreneurship Development Institute of India is also offering a post graduate diploma in business entrepreneurship. The course offers competency-based training targeted at graduates who intend to launch and manage business units or family business.
Mudra Institute of Communication, Ahmedabad (MICA) has also included a course in Leadership in Family Business Management in its Post Graduate Programme in Communications, Management and Enterprise (PGPCME) course.
Narsee Monjee Institute of Management Studies (NMIMS) also offers a two-year full-time Post Graduate Diploma in Business Management (Family Business).