What is Family Business Management
Family Business Management Course is a course designed for individuals willing to be a part of their family business and aim to expand, diversify and manage the family-owned business. By pursuing this course, individuals can improve their skills in various aspects of starting up, like running the business, management, and scaling family businesses and new ventures as they are the family business owners of the next generation of their families. Apart from being an entrepreneur, the Family Business course also helps in getting managerial roles at business firms. Family Business Management Course is offered at the undergraduate as well as postgraduate level.
Eligibility Criteria (UG & PG) of Family Business Management
Eligibility For Undergraduate Courses
Aspirants willing to get admission to various colleges and universities offering Family Business Management courses have to fulfill the eligibility criteria. Candidates fulfilling the eligibility requirement will be able to move to the further stage of the admission process.
Aspiring candidates should have passed 10+2 successfully in any stream from a recognised board in India.
Candidates should have at least 50% marks in aggregate to be eligible for admission to the Family Business Management Course.
Eligibility for Postgraduate Courses
Candidates wishing to pursue postgraduate courses in Family Business offered by various universities and colleges will have to fulfill the eligibility criteria and hence only after meeting the eligibility criteria they will be able to apply for admission to Family Business Course.
Aspirants should have a bachelor’s degree in the relevant field from a recognised institute/university.
Candidates have to appear and secure valid scores in entrance exams such as SNAP/CAT/XAT/MAT.
Resource Links for Online MBA
College Predictors VIEW ALL
Scope of Family Business Management in India and Abroad
Family Business Management Course is a programme designed to fulfill the needs of family-managed businesses and aspiring entrepreneurs in today’s world. It helps in enhancing the managerial as well as the entrepreneurship skills of a person. The scope of the Family Business Management course is much wider as nowadays people are more inclined towards establishing their own business or venturing into startups or expanding their family business as it gives a sense of independence and greater job satisfaction. The Family Business Management programme is also suitable for people wanting to venture into startups, or get hired in top companies in managerial roles such as Business Consultant, Finance Manager, Business Administration Researcher, and Human Resource Manager.
Some of the areas where candidates pursuing the Family Business Management Course can get an employment opportunity are mentioned below:
Setting up own business - After completing the Family Business Management Course, one can start his/her own business as their entrepreneurial skills are honed during this course and they have a better understanding of business operations and have the ability to change the challenges into opportunities and can take business decisions in the most effective and efficient way.
Jobs in mid-level Management - After pursuing a Family Business Management Course candidates can get job opportunities at the mid-level management such as Associate Manager, Project Manager, or Business Development Manager.
Jobs in high-level Management - High-level managerial jobs are usually offered to people after the completion of their postgraduate studies. They are offered jobs in various job profiles such as Human Resource Manager, Accounts Manager, Senior Accounts Manager, etc.
Accounting - One can take up job roles as accounting personnel in the accounts department of various companies/firms/organizations.
Office Administration - One can also seek job opportunities in office administration and can work as an Admin Office Assistant, Executive - Office Administration/Facility Manager, and Administration Manager.
Students also liked
Course Fees Family Business Management
| Minimum Fees | Maximum Fees | |||
|---|---|---|---|---|
| Private | Government | Private | Government | |
| UG |
43.50 K
B.Com(Hons) in Family Business Management at Pranab Jubilee College, Bokajan
|
56.10 K
B.B.A in Family Business Management at Mizoram University Centre for Distance and Online Education
|
23.00 Lakhs
BBA MBA in Family Business Management at Amrut Mody School of Management, Ahmedabad University, Ahmedabad
|
57.00 K
B.A. in Family Business Management at IK Gujral Punjab Technical University, Jalandhar
|
| PG |
1.53 K
M.Phil. in Family Business Management at Queen Mary's College, Chennai
|
17.00 K
M.Sc. in Family Business Management at Bangalore University, Bangalore
|
42.38 Lakhs
P.G.P in Family Business Management at Indian School of Business, Hyderabad Campus
|
4.19 Lakhs
MBA in Family Business Management at University School of Management and Entrepreneurship, Delhi Technological University, Delhi
|
| DOCTORAL |
1.67 Lakhs
Ph.D in Family Business Management at Indus University, Ahmedabad
|
22.55 K
Ph.D in Family Business Management at College of Community and Applied Sciences, Maharana Pratap University of Agriculture and Technology, Udaipur
|
1.78 Lakhs
Ph.D in Family Business Management at Indus University, Ahmedabad
|
1.06 Lakhs
Ph.D in Family Business Management at IC College of Home Sciences, Hisar
|
| DIPLOMA |
1.11 Lakhs
Diploma in Family Business Management at Loyola Institute of Business Administration, Chennai
|
1.16 Lakhs
M.Sc. in Family Business Management at Chandra Shekhar Azad University of Agriculture and Technology, Kanpur
|
1.11 Lakhs
Diploma in Family Business Management at Loyola Institute of Business Administration, Chennai
|
1.16 Lakhs
M.Sc. in Family Business Management at Chandra Shekhar Azad University of Agriculture and Technology, Kanpur
|
Course Subjects
The duration of undergraduate courses in Family Business Management is three years and each year is divided into 2 semesters. The course curriculum of undergraduate courses in Family Business is given below:
Family Business Management Syllabus for Undergraduates
SEMESTER 1 | |
Management Foundations | Introduction to Family Business Management |
Business Environment | Polity & Society |
Basic Mathematics & Statistics | English |
Computers in Management | Behavioral Science - I |
Financial Accounting – I | Foreign Language – I French, German, Spanish, Japanese and Chinese |
SEMESTER 2 | |
Quantitative Techniques for Management | Financial Accounting – II |
Financial Services & Institutional Supports | Environmental Studies |
Managerial Economics | English |
Organizational Behavior | Analysis & Design of Business System |
Foreign Language – II French, German, Spanish, Japanese and Chinese | - |
SEMESTER 3 | |
Venture Management | Business Laws |
Financial Management | Communication Skills – I |
Management Information Systems | Behavioral Science – III |
Marketing Management – I | Foreign Language – III French , German, Spanish, Japanese and Chinese |
Cost & Management Accounting | Summer Assignment & Project (Evaluation) |
SEMESTER 4 | |
Personal Financial Planning | E-Business Management |
Marketing Management - II | Human Resource Management |
Research Methodology & Report Preparation | Communication Skills – II |
Production & Operation Management | Behavioral Science – IV |
Analytical Skill Building | Foreign Language – IV French, German, Spanish, Japanese and Chinese |
SEMESTER 5 | |
Entrepreneurial Resource Management | Communication Skills – III |
Sales & Distribution Management | Behavioral Science – V |
Change & Innovations Management | International Business Management |
Business Tax Planning | Summer Training (Evaluation) |
Foreign Language – V French, German, Spanish, Japanese, and Chinese | - |
SEMESTER 6 | |
Business Policy & Strategic Management | Communication Skills – IV |
Project Management | Behavioral Science – VI |
Foreign Trade Procedure & Documentation | Financial Inclusions – Micro Finance |
Industrial Relations & Compensation Management | Dissertation |
Foreign Language – VI French, German, Spanish, Japanese and Chinese | - |
Family Business Management Subject - For Postgraduate
The duration of postgraduate courses in Family Business Management is two years and each year is divided into 2 semesters. The course curriculum of postgraduate courses in Family Business Management is given below:
SEMESTER 1 | |
Accounting for Entrepreneurs | Quantitative Methods for Business - 1 |
Economic for Entrepreneurs | Business Plan Development Workshop - 1 |
Entrepreneurship and Intrapreneurship | Communication Workshop |
Entrepreneurial Marketing | Skill Development Workshop - 1 |
Indian Ethos and Business Context | Organizational Study - 1 (Social Enterprise) |
Organization and People Management | - |
SEMESTER 2 | |
Business Research Methods | Operations Management |
Enterprise Strategy | Leadership and Change Management workshop |
Entrepreneurial Finance | Business Plan Development Workshop - 2 |
Experiences in Venture Creation | Skill Development Workshop - 2 |
Managing Costs | Organizational Study - 2 (Commercial enterprise) |
SEMESTER 3 | |
Elective 1 | Elective 5 |
Elective 2 | Unique Model - 1 (Focus on a unique aspect of entrepreneurship) |
Elective 3 | Unique Model - 2 |
Elective 4 | Summer Project (Outbound with a focus on one strategic decision-making area) |
SEMESTER 4 | |
Unique Model - 3 | Unique Model - 5 |
Unique Model - 4 | Organizational Study - 4 (Overseas outbound visit) |
Careers in Family Business Management
Candidates who have pursued the Family Business Management Course can step into the startup world, start their own business or become owners of their family business and expand them. Family-owned businesses contribute much to the Gross Domestic Product of the country like Reliance, TATA, etc. Apart from this people can also seek job opportunities in various MNCs and other companies at the managerial level such as Finance Manager, Business Administration Researcher, Human Resource Manager, Research and Development Manager, Business Consultant, Information Systems Manager, Marketing Manager, Employment Areas, Business AdministratorAccounts Manager, etc.
Job Profiles and Top Recruiters
For those who have studied a family business management course, there are several work prospects available. This assists in establishing one's own business or running an established family enterprise. After they graduate, they are also given managerial positions. Below is a list of some of the positions along with their descriptions:
Entrepreneur: An entrepreneur is a person who establishes his own business and by combining different factors of production creates his own business. It bears all the risks, profits, and losses individually and takes all the business-related decisions.
Business Administrator: A Business Administrator handles and administers all the day-to-day operations of the business and ensures that the organisation's goals are met in the most effective and efficient manner and makes sure that productivity increases.
Human Resource Manager: A Human Resource Manager ensures that the right person is hired at the right place for the right job. It makes sure that there is no or very less employee turnover and that there is a friendly environment in the organization to work. It also takes care of the compensation of the employees and ensures fair pay to them.
Account Manager: An accounts manager takes care of all the books of account and maintains a relationship with the clients and acts as a link between the client and the employer.
Business Consultant: A business consultant is engaged in strategic planning and problem-solving. He/She deals with all the challenges of the business and comes up with a solution. He/She oversees all the areas of weakness and tries to improve them and create an opportunity for the business.
Top Recruiters of Family Business Management Course are:
Deloitte
IndusInd Bank
KPMG
Ernst & Young
Hindustan Unilever Ltd.
Amazon
Airtel
Vodafone
Whirlpool
Average Salary
The average salary offered to people who have a degree in Family Business Management Course depends on several factors such as job level in the organisation, skills possessed, years of experience, qualification and other things. The average salary offered per month at the entry-level is given below.
Job Position | Average salary per month |
Business Administrator | Rs. 30,000 - 40,000 (approx) |
Human Resource Manager | Rs. 25,000 - 35,000 (approx) |
Accounts Manager | Rs. 35, 000 - 45, 000 (approx) |
Business Consultant | Rs. 20,000 - 30,000 (approx) |
Popular Family Business Management Entrance Exams in India
MAT
Exam Date: 22 Dec, 2024
CSIR UGC NET
Application Process: 09 Dec, 2024 - 30 Dec, 2024
CMAT
Application Process: 14 Nov, 2024 - 25 Dec, 2024
XAT
Exam Date: 05 Jan, 2025
SNAP
Declaration of Result: 08 Jan, 2025
Popular Family Business Management Colleges in India VIEW ALL
SPJIMR, Mumbai
- Fees: ₹ 1705000
Questions related to Family Business Management
Showing 12 out of 12 Questions
39 Views
how to apply pgdm in family business management in EDI ahamedabad
31st Aug, 2020
Hello,
In order to apply for EDI Ahmedabad you need to follow the below steps: -
- Visit the college official website
- Register yourself
- Verify your email
- Fill out the application form
- Pay the application fee
The eligibility criteria to apply is : -
- Graduates from a recognized university / Final Year students
- The candidate have to undergo any of these exams CAT/MAT/XAT/ATMA and CMAT
Answer later 135 Views
How good is midas for Family Business Management program
Student Expert
22nd Mar, 2020
Hello Aspirant,
MIDAS is an entrepreneurship ecosystem for aspiring as well as established entrepreneurs and offers 11 months PGDM program for students who want to start their own business or join their family business. I'll recommend you to go for MIDAS if you already have a family business. The institution provides the essential ingredients of startup mentorship, incubation and a product/service development centre under one roof. The courses provided are inspired by international research and specifically designed to suit the needs of budding entrepreneurs & individuals with family business.
Good Luck
133 Views
I need to do family business management what is the procedure for doing fbm and what percentage are required
18th Nov, 2019
Hi Akshat,
For doing Family Business Management, you can do a BBA in it first and then go for an MBA. For admissions, one needs to pass 10+2 from a recognized board and seats are filled according to the candidates' score in different entrance examinations, the most prominent ones being CAT, MAT, SNAP, NMAT and many more. Different colleges accept different entrance exam scores. For a full list of colleges offering this course, please check this link:
https://bschool.careers360.com/colleges/list-of-bba-in-family-business-management-colleges-in-india
109 Views
my graduation will be complete shortly, and I am confused where should i take admission for family business management course,
Student Expert
19th Apr, 2019
hello aspirant,
i have mentioned some colleges name which are really good for admission in family business and enterprenuership.
Indian School of Business
IIM Bangalore
SP Jain Institute of Management and Research, Mumba
SP Jain School of Global Management
Institute of Management, Nirma University
SVKM’s NMIMS School of Business Management
Entrepreneurship Development Institute of India (EDI)
Amity University
National Institute of Construction Management and Research (NICMAR)
Hindustan University, Chennai
Universal Business School, Mumbai
WE School - Prin L N Welingkar Institute of Management Development and Research
147 Views
colleges in india that offer bachelor course in family business management
24th Dec, 2018
Hello,
Here is name of the best colleges;
1. IIM Bangalore.
2. SP Jain Institute of Management and Research, Mumbai.
3. Institute of Management, Nirma University
4. SVKM’s NMIMS School of Business Management.
5. Amity University.
6. National Institute of Construction Management and Research (NICMAR).
7. Hindustan University, Chennai.
8. Universal Business School, Mumbai.
All the best.
