MBA Family Business Management: Course, Admission 2024, Fees, Colleges, Syllabus, Career
MBA Family Business Management is a postgraduate degree programme. The course spans around two years, spread across four semesters. It prepares the students to grow their family-run business and start their own family business. MBA degree in Family Business Management provides students with managerial and entrepreneurial skills which are highly desired nowadays.
- Highlights: MBA in Family Business Management
- MBA Family Business Management Eligibility Criteria
- MBA Family Business Management Admission Process
- Top MBA Family Business Management Entrance Examinations
- Top MBA Specialisations
- Skills Required for MBA Family Business Management
- 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 with Fees
- Top Government MBA Family Business Management College in India with Fees
Only 13 colleges offer this programme in India since it is a relatively new specialisation. Due to its broad scope, many institutes will offer this course in the future. The popular college options are JMI New Delhi, Sharda University, and NICMAR Pune. CAT, XAT, MAT, and CMAT are the renowned management examinations in India.
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
- 01 Aug, 2024 - 13 Sep, 2024 - CAT Application Process
- 24 Nov, 2024 - CAT Exam
- 05 Nov, 2024 - 24 Nov, 2024 - CAT Admit Card
- 22 Jun, 2024 - 31 Aug, 2024 - Ongoing - KMAT Application Process
- 09 Aug, 2024 - Last date of Application - MAT IBT 1 August session
- 11 Aug, 2024 - Last date of Application - MAT CBT August session
- 14 Aug, 2024 - Exam - MAT IBT 1 August session
- 11 Aug, 2024 - 14 Aug, 2024 - Admit Card - MAT IBT 1 August session
- 18 Aug, 2024 - Exam - MAT CBT August session
- 14 Aug, 2024 - 18 Aug, 2024 - Admit Card - MAT CBT: August session
- 18 Aug, 2024 - Last date of Application - MAT IBT 2: August session
- 18 Aug, 2024 - Last date of Application - MAT PBT: August session
Highlights: MBA in Family Business Management
| 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
The eligibility criteria for MBA Family Business Management are similar to other master’s level management specialisations. Before applying for admission, students should meet these requirements. They can check the official website or the programme brochure of the respective institutes for other details. Listed below are the eligibility requirements for an MBA Family Business Management course.
- Candidates should have a bachelor’s degree with a minimum aggregate score of 50 per cent or an equivalent CGPA score from a recognised institute in India.
- Applicants from reserved categories will get some relaxation in the aggregate percentage, which is generally 45 per cent.
- Students in their final year of graduation or those awaiting results are also eligible to apply on a provisional basis.
- Many renowned management institutes may require some work experience, though, it is not mandatory.
MBA Family Business Management Admission Process
Students who have successfully fulfilled all the eligibility requirements of the course can apply to their desired colleges. Many colleges provide admissions based on entrance exam scores. Based on their cutoff score, students are allotted the colleges through a counselling session. Below, we have mentioned the admission procedure for an MBA in Family Business Management.
- The admission procedure for MBA Family Business Management is similar to other specialisations.
- To begin with the application process, students should fill out the application carefully.
- Candidates can also apply for the entrance examinations directly. CAT, XAT, MAT, and CMAT are the popular exams for MBA courses.
- After the declaration of the results, a merit list will be prepared, students can choose the college based on their cutoff score.
- To confirm their seats, candidates should pay the course fees and submit the required documents.
Top MBA Family Business Management Entrance Examinations
Many examinations are conducted at university, state, and national levels. Students should visit the website of the institute for other admission requirements. Some of the major MBA examinations are mentioned below.
| Exam Name | Exam Level | Conducting Body | Exam Schedule |
|---|---|---|---|
National Exam | Indian Institute of Management Lucknow | ||
National Exam | All India Management Association | ||
National Exam | National Testing Agency (NTA) | ||
University/National Level | XLRI Jamshedpur | ||
University/National Level | Symbiosis International University |
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.
Skills Required for MBA Family Business Management
Family Business Management requires both a theoretical and practical understanding of the concepts. Students require good managerial skills, leadership skills, and good communication skills. These skills will help the candidates in their professional careers. Mentioned below are the necessary skills for an MBA in Family Business Management.
- Time Management
- Managerial Skills
- Decision-making skills
- Good Leadership skills
- Analytical Thinking
MBA Family Business Management Syllabus
The syllabus of MBA Family Business Management may vary depending on the institute. However, the core topics 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
Nowadays, family-run businesses are on the rise. It enables the students to either set up their family-run business or expand existing businesses. At present, an MBA in Family Business Management has a much broader reach because people nowadays are eager to start their businesses or expand 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 help them get high-paying jobs. The average salary of a Business Manager in India is Rs. 11 LPA which depends on the experience and abilities of the applicant.
Career Options after MBA in Family Business Management
Students who have completed their MBA Family Business Management programme can pursue entrepreneurship, or expand their family-owned business. Graduates are qualified to work in both public and private sectors. Some of the popular job roles are listed below.
| 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 |
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 | |
An account manager is usually the business representative who has the most one-on-one contact with the client. He/she is 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 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 a corporation to get experience before setting up their businesses.
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.
| 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 with Fees
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. In the table below, have mentioned the government college offering an MBA in Family Business Management along with the respective fee details.
| Colleges | Fees |
|---|---|
Rs. 1.30 Lakhs |
MBA Family Business Management is a promising course. The course equips the students with the skills necessary for setting up their family business or expanding existing businesses. At present entrepreneurship is on the rise therefore, this course will prove to be beneficial for the applicants.
Frequently Asked Question (FAQs)
MBA Family Business Management prepares students to comprehend competition dynamics and to become familiar with organisational transformation as a result of globalisation, restructuring, and modernization.
A family-owned corporation, as the name implies, is a company managed mostly or exclusively by family members.
MBA in Family Business Management costs on average between Rs. 2.05 Lakhs to Rs. 10.61 Lakhs depending on the institute.
A bachelor's degree in any specialisation from a recognised university is required for an MBA in Family Business Management.
The MBA in Family Business Management is a two-year post-graduate degree programme that focuses on family business management.
Strategic mindset, Time Management, Communication Skills, Leadership Skills, Decision-making Skills, Business and Management interests, Critical Thinking, Analytical Skills, Decision-Making are some of the skills required for an MBA in Family Business Management.
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.
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.
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.
Students who have completed an MBA in Family Business Management degree can apply for a Ph.D. in Family Business Management programme.
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.
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