MBA Family Business Management: Course, Admission 2024, Fees, Colleges, Syllabus, Career

Edited By Moksh Dheri | Updated on Oct 11, 2024 10:16 AM IST

MBA Family Business Management is a postgraduate degree programme that lasts two years and consists of four semesters. Students learn the concepts to establish or transform their family-run businesses. Family businesses are a crucial part of the economy and contribute a significant amount to the nation’s GDP. As of now, only 12 institutes offer this course.

This Story also Contains

MBA Family Business Management Course Details
MBA Family Business Management Eligibility Criteria
Top MBA Family Business Management Entrance Examinations
Top MBA Specialisations
MBA Family Business Management Syllabus
MBA Family Business Management Course Fee Structure
Scope of MBA Family Business Management
Career Options after MBA in Family Business Management
Benefits of Studying MBA Family Business Management
Salary after MBA Family Business Management
Browse Top MBA in Family Business Management colleges in Top Locations
Top Private MBA Family Business Management Colleges in India
Top Government MBA Family Business Management College in India with Fees

MBA Family Business Management: Course, Admission 2024, Fees, Colleges, Syllabus, Career

MBA degree in Family Business Management also provides students with managerial and entrepreneurial skills highly desired nowadays. Due to its broad scope, many institutes will offer this course in the future. Some of the popular colleges are JMI New Delhi, Sharda University, and NICMAR Pune.

Candidates require a bachelor’s degree in a relevant discipline to be eligible for the course. Admissions are majorly based on either the entrance examination or merit score. CAT, XAT, MAT, and CMAT are the popular entrance examinations. Apart from entrance tests, many candidates may also conduct personal interviews and group discussion sessions.

The course curriculum includes subjects such as Management Information Systems, Principles of Management, Marketing Management, Operations Research, and Business Economics are the core subjects. Some of the job roles opted by MBA Family Business Management are Entrepreneur, Business Administrator, Accounts Manager, and Business Consultant.

MBA Family Business Management- Important Dates

CAT Exam- 24 Nov, 2024
CAT Admit Card- 05 Nov 2024 - 24 Nov 2024

MBA Family Business Management Course Details

Particulars	Values
Degree Name	MBA in Family Business Management
Degree Type	Postgraduate
Degree Duration	Two year
Semesters	Four
Entrance Exams	CAT, MAT, GMAT, CMAT, XAT, NMAT
Eligibility Criteria	Bachelor’s degree
Admission process	Entrance Exam
Fees for the entire duration	Rs. 1.30 Lakhs to Rs. 10.61 Lakhs
Average Salary	Rs. 11 LPA
Job profiles	Business Administrator, Entrepreneur, Account Manager, Human Resource Manager
Top recruiters	Deloitte, IndusInd Bank, KPMG, Ernst & Young, Hindustan Unilever Ltd, Amazon, Airtel, Vodafone, Whirlpool

MBA Family Business Management Eligibility Criteria

Every institute has some eligibility requirements, that must be met by the applicants to be eligible for the course. Before applying for admissions, students should fulfil these requirements. Eligibility details can be found either on the official website of the institute or the programme brochure of the respective institute. In the table mentioned below, we have provided some of the qualification requirements.

Eligibility Parameters	Details
Educational Qualification	Bachelor's degree in relevant discipline from a UGC-recognised institute
Minimum aggregate score (for general and reserved categories)	50 per cent aggregate score (for general) 5-10 per cent relaxation for candidates belonging to the reserved categories
Provisional Admission	Final-year students are eligible on a provisional basis
Work Experience	Not mandatory, though many renowned institutes may prefer candidates with some experience

MBA Family Business Management Admission Process

Management institutes generally have a three-stage selection procedure, consisting of entrance examinations, personal interviews and group discussions. A merit list is prepared and candidates are allotted colleges through a counselling session. In the table mentioned below, we have discussed the admission procedure for an MBA in Family Business Management.

Candidates should begin with the application process after fulfilling the eligibility requirements of the course.
They should fill out the application form carefully before submission.
Many colleges provide admissions based on the entrance exam scores. CAT, MAT, XAT, and CMAT are the popular examinations.
Based on the examination results, a merit list will be prepared and students will be allotted colleges.
After clearing these admission tests, candidates should pay the course fees and submit relevant documents

Top MBA Family Business Management Entrance Examinations

In India, there are several management entrance examinations. Apart from popular exams such as CAT, MAT, and CMAT, some institutes may have university-specific examinations. Some of the major MBA examinations are listed below.

Exam Name	Exam Level	Conducting Body	Exam Schedule
CAT	National Exam	Indian Institute of Management Lucknow	CAT Exam Schedule
MAT	National Exam	All India Management Association	MAT Exam Schedule
CMAT	National Exam	National Testing Agency (NTA)	CMAT Exam Schedule
XAT	University/National Level	XLRI Jamshedpur	XAT Exam Schedule
SNAP	University/National Level	Symbiosis International University	SNAP Exam Schedule

Top MBA Specialisations

Apart from Family Business Management, many specialisations are offered in MBA. Students can choose their specialisations depending on their interests and future goals. In the table below, we have listed the popular MBA specialisations.

MBA in Marketing Management	MBA Data Science
MBA Artificial Intelligence	MBA in Entrepreneurship
MBA Hospital and Health Care Management	MBA in Rural Management
MBA in International Business	MBA Textile Management
MBA in Digital Marketing	MBA in Sustainability Management

MBA Family Business Management Syllabus

The syllabus of MBA Family Business Management may vary depending on the institute. However, the core topics covered are Principles of Management, Quantitative Techniques for Business, Financial Management Accounting, Marketing Management, and Legal Aspects of Business. In the following table, we have listed the syllabus of Parul University.

Semester 1
Principles of Management	Quantitative Techniques for Business
Financial Management Accounting	Marketing Management
Managerial Economics	Human Resource Management
IT Skills	-
Semester 2
Organisational Behaviour	Financial Management
Legal Aspects and Business Environment	Production and Operation Management
Research Methods for Business	Management Information System
Business Ethics and Corporate Governance	-
Semester 3
Innovation and Entrepreneurship	Project Management
Social Entrepreneurship Small Business Promotion	Institutional & Legal Framework for Start-Ups & Family Business
Small Business Operation	Communication and Branding Strategies
Project Appraisal & Management	Dynamics of Family Business Management
Summer Internship Project	Business Analytics
Inter-Departmental Course	-
Semester 4
Strategic Management	Family Business Models
Managing Conflict in Family Business Leadership and Teamwork	Taxation Law and Planning
Master Thesis/ Dissertation	Sickness and Turnaround Strategies for Small Business
Governmental Schemes for Entrepreneurship Development	Business Finance for Start-Ups and Growth
Artificial Intelligence in Business	Intra-departmental Course

MBA Family Business Management Course Fee Structure

The fee structure is decided by the college administration. The tuition fees do not include the security deposit and application fee. Candidates can check the fees either on the official website of the institute or by contacting the admissions office. MBA Family Business Management fee generally ranges from Rs. 1.30 Lakhs to Rs. 10.61 Lakhs.

Scope of MBA Family Business Management

At present, family-run businesses are developing quickly. They are also an integral component of India's economy and a lot of people are involved in establishing and expanding their family-owned businesses. Students with an MBA degree in Family Business Management can also apply for a PhD in a similar stream. It will also help them get high-paying jobs, the average salary of a Business Manager in India is Rs. 11 LPA and depends on the experience and skills of the candidate.

Career Options after MBA in Family Business Management

Apart from entrepreneurship, an MBA in Family Business Management also enables the candidates to apply for several high-paying careers. They can work in both private and public sectors after graduation. In the table below, we have provided some of the popular career choices, job descriptions and average salary.

Job Profiles	Job Descriptions	Average Salary
Business Administrator	Business administrators help businesses run smoothly and achieve their short- and long-term objectives. They also direct other employees on their progress and adherence to business laws.	Rs. 6.2 LPA
Entrepreneur	Entrepreneurs are professionals who start a new business. They can bear the risk. They generally have an idea that will help solve a problem.	Rs. 18.6 LPA
Account Manager	Account Managers are usually the business representative who has the most one-on-one contact with the client. They are in charge of the day-to-day chores of responding to customers' wants and complaints, as well as keeping track of their account activities.	Rs. 8.8 LPA
Human Resource Manager	Human resources managers plan, organise, and manage an organization's administrative activities. They are in charge of recruitment, and interviewing new employees, as well as consulting with top management on strategy development and acting as a bridge between management and workers.	Rs. 11 LPA

Source: AmbitionBox

Top Recruiters

Deloitte
Airtel
Amazon
KPMG
Induslnd Bank
EY
Wipro

Benefits of Studying MBA Family Business Management

An MBA Family Business Management course has many benefits. Nowadays, people are focused on running their businesses or expanding their family-owned businesses. MBA Family Business Management will help the candidates by providing them with the necessary skills. After graduation, students can also work at corporations to get the necessary business and managerial skills.

Salary after MBA Family Business Management

The average salary of an MBA Family Business Management graduate depends on various factors. Some of the factors influencing the salary are skills and experience, work location, and the job profile opted by the candidate. The salaries for private and government sectors are also different. In the table below, we have provided the average salaries of the private and government sectors.

Sectors	Average Salary
Private	Rs. 3 LPA-Rs. 75 LPA
Government	`Rs. 3 LPA-Rs. 75 LPA

Source: Naukri.com

Browse Top MBA in Family Business Management colleges in Top Locations

A variety of higher education institutions offer an MBA in Family Business Management. Depending on the institution and geographic region, the fee may differ. In the table below, we have compiled a list of the best MBA in Family Business Management programmes in India.

Top Private MBA Family Business Management Colleges in India

The fees of a private institute may be higher than a government institute. Students can check the website of the college to learn more course details. Listed below are the popular colleges along with their respective fees.

Colleges	Fees
Sharda University, Greater Noida	Rs. 8.01 Lakhs
NICMAR University, Pune	Rs. 6 Lakhs
Institute of Management, Nirma University, Ahmedabad	Rs. 10.61 Lakhs
Auro University, Surat	Rs. 8 Lakhs
Amity University, Patna	Rs. 7.80 Lakhs
Career Point University, Kota	Rs. 3.13 Lakhs
Geeta University, Panipat	Rs. 2.05 Lakhs
Anjaneya University, Raipur	-

Top Government MBA Family Business Management College in India with Fees

As of now, only one government institute offers an MBA in Family Business Management. Government colleges are generally affordable as compared to private institutes. JMI New Delhi is a popular government college offering an MBA in Family Business Management. The fee is Rs. 1.30 Lakhs for the course.

Frequently Asked Questions (FAQs)

1. What is MBA Family Business Management?

MBA Family Business Management is a postgraduate level degree programme in the field of management. The course duration is two years, spread across four semesters. It prepares the candidates to establish or expand their family-owned businesses.

2. What is a family-owned business?

As the name suggests, a family-owned business is a type of business entity owned by a family.

3. What is the tuition fee of the MBA in Family Business Management course?

The average fee of an MBA in Family Business Management generally ranges from Rs. 2.05 Lakhs to Rs. 10.61 Lakhs, depending on the institute.

4. What is the eligibility criteria for an MBA in Family Business Management?

A bachelor's degree in any specialisation from a recognised university is required for an MBA in Family Business Management.

5. What is the duration of the MBA in Family Business Management course?

The course duration of an MBA in Family Business Management is two years consisting of four semesters.

6. What are the skills required for an MBA in Family Business Management?

Strategic mindset, Time Management, Communication Skills, Leadership Skills, Decision-making Skills, Business and Management interests, Critical Thinking, Analytical Skills, and Decision-Making are some of the skills required for an MBA in Family Business Management.

7. Which colleges offer MBA in Family Business Management courses in India?

Some of the top colleges which offer MBA in Family Business Management degrees are School of Business Management SVKM's Narsee Monjee Institute of Management Studies, Mumbai, JMI New Delhi - Jamia Millia Islamia, HITS Chennai - Hindustan Institute of Technology and Science, Nirma University, Ahmedabad, NMIMS Mumbai - Narsee Monjee and Institute of Management Studies.

8. What are the career options after an MBA in Family Business Management?

There are various career options after an MBA in Family Business Management. Some of the careers are Business Administrator, Entrepreneur, Account Manager, Human Resource Manager.

9. What are the best firms to work for if you have an MBA in Family Business Management?

Deloitte, IndusInd Bank, KPMG, Ernst & Young, Hindustan Unilever Ltd., Amazon, Airtel, Vodafone, Whirlpool are some of the leading organisations that hire MBA in Family Business Management graduates.

10. Is it possible to pursue a Ph.D. after completing an MBA in Family Business Management?

Students who have completed an MBA in Family Business Management degree can apply for a Ph.D. in Family Business Management programme.

11. Is MBA in Family Business Management is difficult?

An MBA is only as difficult as you make it, and it is only as rewarding as you put into it. There is rarely any hand-holding in business. Either you become a competent business expert or you are surpassed by the competition.