Family Business Management

Family Business Management

Degrees offered: B.A., B.B.A, Diploma, Dual Degree, Executive MBA, M.Com, M.M.S

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 Course have to fulfil 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 of Family Business offered by various universities and colleges will have to fulfil 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.

Scope of Family Business Management in India and Abroad

Family Business Management Course is a programme designed to fulfil 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 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. 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, Human Resource Manager, etc.


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 about 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, Business Development Managers, etc.  

  • 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/organisations.

  • Office Administration - One can also seek job opportunities in office administration and can work as an Admin Office Assistant, Executive - Office Administration/Facility Manager, Administration Manager, etc.

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
57.00 K
B.A. in Family Business Management at IK Gujral Punjab Technical University, Jalandhar
15.81 Lakhs
B.B.A in Family Business Management at Amity University, Noida
57.00 K
B.A. in Family Business Management at IK Gujral Punjab Technical University, Jalandhar
PG
1.20 K
M.Sc. in Family Business Management at Queen Mary's College, Chennai
21.09 K
M.Sc. in Family Business Management at College of Home Science, Udaipur
41.98 Lakhs
P.G.P in Family Business Management at Indian School of Business, Hyderabad Campus
1.33 Lakhs
M.Sc. in Family Business Management at SNDT Womens University, Mumbai
DOCTORAL
2.54 Lakhs
Ph.D in Family Business Management at Indus University, Ahmedabad
22.55 K
Ph.D in Family Business Management at College of Home Science, Udaipur
2.54 Lakhs
Ph.D in Family Business Management at Indus University, Ahmedabad
22.55 K
Ph.D in Family Business Management at College of Home Science, Udaipur
DIPLOMA
95.05 K
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
95.05 K
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

S. No. 

SUBJECT

A

SEMESTER 1

1

Management Foundations

2

Business Environment

3

Basic Mathematics & Statistics

4

Computers in Management

5

Financial Accounting – I

6

Introduction to Family Business Management

7

Polity & Society

8

English

9

Behavioral Science - I

10

Foreign Language – I

French, German, Spanish, Japanese and Chinese

B

SEMESTER 2

1

Quantitative Techniques for Management

2

Financial Services & Institutional Supports

3

Managerial Economics

4

Organizational Behavior

5

Analysis & Design of Business System

6

Financial Accounting – II

7

Environmental Studies

8

English

9

Foreign Language – II

French, German, Spanish, Japanese and Chinese

C

SEMESTER 3

1

Venture Management

2

Financial Management

3

Management Information Systems

4

Marketing Management – I

5

Cost & Management Accounting

6

Business Laws

7

Communication Skills – I

8

Behavioral Science – III


9

Foreign Language – III

French , German, Spanish, Japanese and Chinese

10

Summer Assignment & Project (Evaluation)

D

SEMESTER 4

1

Personal Financial Planning

2

Marketing Management - II

3

Research Methodology & Report Preparation

4

Production & Operation Management

5

Analytical Skill Building

6

E-Business Management

7

Human Resource Management

8

Communication Skills – II

9

Behavioral Science – IV

10

Foreign Language – IV

French, German, Spanish, Japanese and Chinese

E

SEMESTER 5

1

Entrepreneurial Resource Management

2

Sales & Distribution Management

3

Change & Innovations Management

4

Business Tax Planning

5

International Business Management

6

Communication Skills – III

7

Behavioral Science – V

8

Foreign Language – V

French, German, Spanish, Japanese and Chinese

9

Summer Training (Evaluation)

F

SEMESTER 6

1

Business Policy & Strategic Management

2

Project Management

3

Foreign Trade Procedure & Documentation

4

Industrial Relations & Compensation Management

5

Financial Inclusions – Micro Finance

6

Communication Skills – IV

7

Behavioral Science – VI

8

Foreign Language – VI

French, German, Spanish, Japanese and Chinese

9

Dissertation


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:


Family Business Management Syllabus for Postgraduates

S.No.

Subject


SEMESTER 1

1

Accounting for Entrepreneurs

2

Economic for Entrepreneurs

3

Entrepreneurship and Intrapreneurship

4

Entrepreneurial Marketing

5

Indian Ethos and Business Context

6

Organization and People Management

7

Quantitative Methods for Business - 1

8

Business Plan Development Workshop - 1

9

Communication Workshop

10

Skill Development Workshop - 1

11

Organizational Study - 1 (Social enterprise)


SEMESTER 2

1

Business Research Methods

2

Enterprise Strategy

3

Entrepreneurial Finance

4

Experiences in Venture Creation

5

Managing Costs

6

Operations Management

7

Leadership and Change Management workshop

8

Business Plan Development Workshop - 2

9

Skill Development Workshop - 2

10

Organizational Study - 2 (Commercial enterprise)


SEMESTER 3

1

Elective 1

2

Elective 2

3

Elective 3

4

Elective 4

5

Elective 5

6

Unique Model - 1 (Focus on a unique aspect of entrepreneurship)

7

Unique Model - 2

8

Summer Project (Outbound with focus on one strategic decision-making area)


SEMESTER 4

1

Unique Model - 3

2

Unique Model - 4

3

Unique Model - 5

5

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

There are plenty of job opportunities offered to one who has pursued a Family Business Management Course. This helps in becoming entrepreneurs or managing their existing family business. They are also offered managerial roles after their post graduation. Some of the jobs and their description are listed below :


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 goals are met in the most effective and efficient manner and makes sure that the 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 there is a friendly environment in the organisation to work. It also takes care of the compensation of the employees and ensures fair pay to them.


Accounts 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 it 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)

Questions related to Family Business Management

Showing 12 out of 12 Questions
19 Views

how to apply pgdm in family business management in EDI ahamedabad

Mehnaz Siddiqui 31st Aug, 2020

Hello,

In order to apply for EDI Ahmedabad you need to follow the below steps: -

  1. Visit the college official website
  2. Register yourself
  3. Verify your email
  4. Fill out the application form
  5. 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
46 Views

How good is midas for Family Business Management program

harshita sharan 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

54 Views

I need to do family business management what is the procedure for doing fbm and what percentage are required

Arya 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

78 Views

my graduation will be complete shortly, and I am confused where should i take admission for family business management course,

Manidipa Kundu 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


108 Views

colleges in india that offer bachelor course in family business management

TANU JAIN 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.

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