MBA (Family Business Management): Courses, Admission, Syllabus, Colleges, Eligibility, Entrance Exam, Career Scope and Salary

(1). About the Course

MBA in Family Business Management is a 2-year postgraduate control degree software that allows college students to transition their family-run corporations into professionally controlled enterprises. MBA in Family Business Management college students are organized to realize the dynamics of competition in addition to organizational transformation because of globalization, restructuring, and modernization. The Family Business Management Course is created for folks that need to be a member of their family-owned enterprise and would love to develop, diversify, and manipulate it.

The minimal eligibility standards for admissions on this path are a degree of BBA, B.Com, or B.Sc. from a recognized university with minimum aggregate marks of 50%. MBA Family Business Management average course fee ranges from INR 1,00,000-15,00,000 per annum for MBA Family Business Management. Graduates of this course can bag an initial high package ranging from INR 12,00,000-16,00,000 in any leading MNC.

Candidates after completing MBA in Family Business Management can work as a business administrator, assistant manager, accounts manager, etc. With more managerial skills, they can also successfully run a family business after completing MBA.

Course Highlights

Given below are a few of the important highlights of the MBA in Family Business program:

Particular	Value
Course Name	Master of Business Administration in Family Business Management
Course Level	Postgraduate
Course Duration	2 years
Eligibility Criteria	Graduation degree with a minimum of 50% from a recognized university
Entrance Exams	CAT, MAT, GMAT, CMAT, XAT, NMAT
Examination type	Semester based
Admission Process	Entrance/ Merit-based
Average Annual Fee	Rs. 30,000-15,00,000
Average Annual Salary	Rs. 12,00,000-16,00,000
Job profiles	Entrepreneur, Business Administrator, Entrepreneur, Account Manager, Human Resource Manager, Assistant Manager, etc.
Top recruiters	Deloitte, IndusInd Bank, KPMG, Ernst & Young, Hindustan Unilever Ltd, Amazon, Airtel, Vodafone, Whirlpool

Why study MBA in Family Business Management?

(ii). MBA in Family Business Management can help in fostering and encouraging the entrepreneurial spirit of young minds so that they develop best practices for family business management.

(iii). It enables students to pursue new avenues for applying the skills thus learned.

(iv). MBA in Family Business Management is a springboard for those already in executive or managerial positions to plunge into the family business. Whether the business is big or small, the students are taught to manage it efficiently.

(v). It prepares candidates to strike a balance between theoretical and practical knowledge

(2). Admission Process

Individuals should apply to the institutions of higher learning at which they wish to pursue an MBA  in Family Business Management. They should have a high-grade factor on their last assessments and fulfill the desired percent criteria to get admitted. Students must test the cutoff rating before enrolling in a university and finishing all required documentation. Candidates also can affirm their eligibility with the aid of using traveling to the institute's authentic website, filling out the web software form, and filing the desired documents.

Types of MBA Family Business Management Courses

Aspirants can pursue the MBA Family Business Management path in the full-time, part-time mode and Distance modes. Below are the varieties of MBA Family Business Management publications in detail:

(1). Distance

MBA Family Business Management Distance learning is provided by lots of institutions and colleges in India and like full-time, it is for 2-4 years. This course is for students for whom it is unaffordable to attend classes on campus or who are working full-time and are unable to devote the time necessary to complete a full-time course.

(2). Full-Time

The full-time MBA Family Business Management duration is of 2 years, during which students attend classes in person, submit assignments, and write their exams on-campus.

(3). Part-Time

The part-time MBA Family Business Management course is for 2-4 years and is designed for students who cannot attend regular classes. Part-time courses either occur at weekends or night, depending on the type of course.

Eligibility Criteria

Those inquisitive about pursuing an MBA in Family Business Management need to meet sure criteria. Admission to the MBA in Family Business Management program calls for that scholar to fulfill the subsequent criteria:

(ii). Applicants ought to have scored nicely on the required to get the right of entry to examinations and met all unique conditions.

(iii). There are not any age barriers for the MBA in Family Business Management program.
(iv). Work entertainment is pretty recommended, even though it isn't always compulsory.

Admission Process

Here are the details regarding the process of admission to the MBA Family Business Management course.

(ii). The candidates need to appear for MBA entrance exams which incorporate CAT, MAT, XAT / IPMAT, etc. Some private colleges have seats reserved under the management quota for which direct admissions are conducted.

(iii). The candidates who qualify for the cutoff of the college are shortlisted for selection. Shortlisted candidates are then called for a GD/PI round of the institute.

(iv). Final admissions are granted primarily based totally on the general overall performance of the candidates.

Accepted Entrance Exam

Listed below are some of the MBA in Family Business Management Entrance exams are as:

CAT	ATMA
IIFT	TANCET
MAH CET	MAT
XAT	IBSAT
SNAP	NMAT
CMAT	TISSNET

Skills Required

The central factors of conventional MBA Programs are the improvement of managerial skills, expertise in organizational culture, communications systems, and collaboration. Each enterprise calls for a unique set of skills. In this sector, each difficult and tender competencies are especially important, and additionally being capable of taking care of complaint at the same time as being honest let you thrive. Some of the skills required for an MBA in Family Business Management include:

Strategic mindset	Communication Skills
Leadership Skills	Business and Management Interest
Critical Thinking	Time Management
Professional Behavior	Decision-making Skills
Dedication	Analytical Skills
Interpersonal Skills	Entrepreneurial Skills
Collaborative Work Approach	Project Management
Motivating

Fee Structure

The average MBA Family Business Management fee in India is around INR 30,000-15,00,000 PA.

Name of College	Average Fee
Sandip Institute of Technology and Research, Nashik	INR 1,50,00
Galgotia University of Business, Greater Noida	INR 1,59,000
Sona School of Management, Salem	INR 41,000
Dr. DY Patil Institute of Management and Research, Pune	INR 1,30,000
Royal Global University , Guwahati	INR 2,47,000

Selection Criteria

The selection process for MBA Family Business Management in India is mainly similar, regardless of the subspecialty. In many circumstances, universities make their very last choice of applicants primarily based totally on their admission examination rankings after receiving a utility for a program. Furthermore, the instructional achievements of the applicants in the course of their undergraduate tiers have an enormous impact.

(3). Course Comparison

MBA in Family Business Management v/s MBA in International Business

The table below showcases the differences between MBA in Family Business Management and MBA in International Business:

Parameter	MBA in Family Managed Business	MBA in International Business
Course Name	Master of Business Administration in Family Business Management	Master of Business Administration in International Business
Course Overview	MBA in Family Business Management is a 2-year postgraduate control degree software that allows college students to transition their family-run corporations into professionally controlled enterprises.	MBA in International Business is a two-year postgraduate management degree that deals with the nuances of international finance, e-commerce, and trade policy while providing a basic understanding of international business and how it promotes a more interdependent and interconnected global economy.
Course Duration	2 years	2 years
Eligibility Criteria	Graduation degree with a minimum of 50% from a recognized university	Graduation from any stream from a recognized university
Admission Process	Merit-Based/Entrance Exam	Merit-Based/Entrance Exam
Course Stream	Family Business	Business Analytics
Entrance Exams	MAT, XAT, SNAP	CAT, MAT, CMAT, SNAP
Average Fees	INR 30,000-15,00,000	INR 50,00,000-30,00,000
Top Colleges	Dr. DY Patil Institute of Management and Research(Pune), Royal Global University(Guwahati), Sona School of Management(Salem), Sandip Institute of Technology and Research(Nashik)	IIFT-New Delhi, IMI-New Delhi, Alliance University-Bangalore, etc.

Read More: MBA in International Business

(4). Top Colleges

Here are some of the top colleges which offer an MBA in Family Business Management:

Name of College	Average Annual Fee(INR)
University of Technology	INR 90,000
Shri Ram Swaroop Memorial Institute	INR 1,32,000
Amity University	INR 5,15,000
Institute of Business Management and Research	INR 80,000
Parul University	INR 90,000
Chandigarh University	INR 2,58,000
Jamia Millia Islamia	INR 1,30,200
Manipal University	INR 4,59,000
Manav Rachna University	INR 5,92,500
MIDAS School of Entrepreneurship	INR 12,00,000
Hindustan University	INR 4,58,500
Auro University	INR 4,21,000
Loyola Institute of Business Administration	INR 95,050
NMIMS	INR 19,12,000

(5). Job & Placements

For the ones who've studied their circle of family enterprise control course, there are numerous work potentialities available. This assists in organizing one's enterprise or strolling a longtime own circle of family enterprise. After they graduate, they're additionally given managerial positions.

Job Profile

Family Business courses offer plenty of employment opportunities and a good income. The unique task profiles applicants can pick out after finishing Family Business publications are indexed below, in conjunction with task descriptions:

Job Profile	Job Description
Business Administrator	A Business Administrator handles and administers all of the everyday operations of the enterprise and guarantees that the organization's dreams are met inside the only green way and makes positive that productiveness increases.
Human Resource Manager	A Human Resource Manager guarantees that the proper character is employed in the proper vicinity for the proper job. It makes positive that there's no or very much less worker turnover and that there are pleasant surroundings inside the corporation to work. It additionally looks after the repayment of the personnel and guarantees truthful pay to them.
Account Manager	A money-owed supervisor looks after all of the books of account and keeps adapting with the customers and acts as a hyperlink between the customer and the employer.
Business Consultant	A commercial enterprise representative is engaged in strategic making plans and problem-solving. He/She offers all of the demanding situations of the commercial enterprise and springs up with a solution. He/She oversees all of the regions of weak points and attempts to enhance them and create a possibility for the business.
Entrepreneur	An entrepreneur is someone who establishes his enterprise and through combining various factors of manufacturing creates his private enterprise. It bears all of the risks, profits, and losses for my part and takes all of the business-associated decisions.

Top Recruiters

Listed below some of the top recruiters for an MBA in the Family Business Management Course are:

Deloitte	Whirlpool
Ernst & Young	IndusInd Bank
Airtel	Hindustan Unilever Ltd.
KPMG	Vodafone
Amazon

Average Salary

The common earnings presented to humans who have a degree in Family Business Management Course relies upon numerous elements which include task degree within the organization, competencies possessed, years of experience, qualifications, and different things. The common earnings supplied according to month on the access degree are given below:

Job Role	Average Annual Fee(INR)
Business Consultant	Rs. 2,00,000-3,00,000
Accounts Manager	Rs. 3,50,000-4,50,000
Business Administrator	Rs. 3,00,000-4,00,000
Human Resource Manager	Rs. 2,50,000-3,50,000

(6). Career/Scope

Candidates who've pursued the Family Business Management Course can step into the startup world, begin their very own enterprise, or come to be proprietors in their circle of family enterprise and extend them. Family-owned agencies make contributions a lot to the Gross Domestic Product of America like Reliance, TATA, etc.

Apart from this humans also can search for task possibilities in numerous MNCs and different corporations on the managerial degree which include Finance Manager, Business Administration Researcher, Human Resource Manager, Research and Development Manager, Business Consultant, Information Systems Manager, Marketing Manager, Employment Areas, Business Administrator, Accounts Manager, etc.

Career options after MBA in Family Business Management

After completing an MBA in Family Business Management in India, you have several career options available to you. Here are a few possibilities:

(i). Business Development
(ii). Finance and Investment
(iii). Academic or Research Positions
(iv). Non-Profit and Philanthropic Organizations
(v). Joining the Family Business
(vi). Entrepreneurship
(vii). Consulting

Scope for Higher Education

There also are positive better look at alternatives to be had for graduate students after an MBA in Family Business Management, which can help them better understand the subject. Also, gaining extra training can assist college students to replace their abilities and additionally offer professional growth. Listed underneath are a number of the better schooling alternatives to be had for students:

(i). Ph.D. in Management
(ii). Certification in Risk Management Assurance
(iii).Certified in Production and Inventory Management
(iv). CFA

Skills that make you the Best MBA in Family Business Management Graduate

The MBA in Family Business Management course aims to build a solid grounding in management disciplines as well as strong analytical skills to compete globally. This course will help students to learn and increase their knowledge of organizational behavior and psychology for tackling real-world business problems. Must have skills are:

(i). Resourceful
(ii). A Good Communicator
(iii). A Multitasker?
(iv). Approachable
(v). Analytical
(vi). Strategic

(7). FAQs

(1). What is a Family Business course?

Ans. The Family Business course helps individuals who want to manage their family business. The Family Business course also prepares for managerial positions in the business.

(2). What is the MBA in Family Business program?

Ans. MBA in Family Business Management is a two-year postgraduate management degree program that helps students transition their family-run businesses into professionally managed enterprises.

(3). What is the admission process for MBA in Family Business?

Ans. The admission procedure for MBA in a Family Business direction is equal to everyday MBA, i.e. shortlisting based on an entrance exam followed by group discussion and personal interview.

(4). What is the Duration of the Course MBA in Family Business Management?

Ans. The complete duration of the course is two years

(5). What are the top Family Business courses?

Ans. Top Family Business courses are MBA - Entrepreneurship & Family Business, BBA - Entrepreneurship & Family Business, and PG Certificate in Family Business.

(6). What are the skills required for Family Business courses?

Ans. Some of the top skills required for Family Business courses are given below:

(i). Team Management
(ii). Communication Skills
(iii). Critical Thinking
(iv). Organizational skills
(v). Business Aptitude

(7). What are the eligibility criteria for MBA in Family Business?

Ans. Eligibility criteria for MBA  in Family Business are graduation in any stream with 50 percent aggregate or equivalent (45 percent for SC/ST candidates) from a recognized university.  The mode of education can be full-time, part-time, or distance learning.

(8). What are the attractive Salary Packages that One can Expect After the Course Completion?

Ans. Skilled professionals can bag an attractive salary package ranging from Rs 5,00,000-10,00,000.

(9). What are the job profiles offered to MBA in Family Businesses?

Ans. The top job profiles offered to MBA Family Businesses are Business Consultants, Business Reporters, Accounts Managers, and Business Administrators.

(10). Can I pursue a management course in Family Business online?

Ans. Yes, management courses in Family Business are available online as well as part-time and distance learning modes.

(11). What is the fee for the MBA in Family Business Management course?

Ans. The fee is Rs.30,000-15,00,000, relying on the school.

(12). Which schools provide MBA in Family Business Management guides in India?

Ans. Some of the pinnacle schools which provide MBA in Family Business Management tiers are the 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.

(13). Is MBA in Family Business Management difficult?

Ans. An MBA is handiest as tough as you are making it, and it's miles handiest as profitable as you placed into it. There is hardly ever any hand-protecting in business. Either you end up a ready enterprise professional or you're passed with the aid of using the competition.

(14). Is it feasible to pursue a Ph.D. after finishing an MBA in Family Business Management?

Ans. Students who've finished an MBA in Family Business Management diploma can practice for a Ph.D. in Family Business Management program.