I have a family business.So should i opt for Family Business Management or MBA(marketing) itself. What is the value and scope of FBM?

Eligibility for MBA Program: The prospective applicant must satisfy one of the following eligibility criteria for admissions to the MBA programme. A graduate degree under 10+2+3 or 10+2+4 pattern under any discipline, securing at least 50% marks in aggregate, from a recognized university.

Family-owned businesses play a crucial role in the economy of a country. According to EY India, It is estimated that globally family businesses contribute around 70% - 90% of the global GDP. India is no exception.Family-run businesses account for more than 85% of businesses in India. Additionally, 67% of total listed companies with market capitalization exceeding more than US$50 million each accounts for family businesses in India. Apart from conglomerates like Reliance and Godrej, a lot of retail trade, small scale industry, and service sector are run by family businesses.

In the rapidly altering business environments and economies the next generation of business owners want to tackle the uncertainty and volatility of business world effectively. To cater to the needs of this group, many top B-schools offer MBA - Family Business and Entrepreneurship Program which is a specifically designed to help meet the needs of next generation of family business owners.

MBA Family Business programme or Entrepreneurship & Family Business Programmes are offered by many colleges. Some of the top MBA colleges offering Family Business Management Courses In India are IIM Bangalore, NMIMS Mumbai, S P Jain, Nirma University, EDII among others.MBA Family Business and Entrepreneurship Program offers the opportunity to the students to further expand and strengthen their family business and also to venture into entrepreneurship with innovative ideas after getting proper grooming and skills on completion of their MBA Family Business and Entrepreneurship Program.

The fee for MBA in Family Business in general ranges from 5 lakhs to 15 lakhs, ISB being an exception with Rs 37.35 lakhs as its fee.

Thanks,

Azim

Dear student,



Greetings.



Family Business Management programme or FBM is a course specially designed for family business owners. This programme include concepts of entrepreneurship, business sustainability, market trends which thereby lead to portfolio expansion and business growth and on the other hand, MBA in Marketing is a course which deals with entertainment, media, promotions, advertisement, sales and general management field, and is a good scope for the candidate to have a bright future.



Both the courses have their qualities, it depends on person to person as different people have different areas of interest. Opting for FBM will help you to expand and develop your own family business as you are a part of it, you are completely eligible for this course and MBA in marketing will help you to have a good career in becoming a Marketing Manager, Brand manager, Asset Management, Corporate sales, Market Research Analyst, Sales Manager, Media Planner, Product Manager,  Head of Digital Marketing.



I hope you will make a good choice!