Family Business: Courses, CAT 2024, Fees, Syllabus, Exams, Top Colleges, Career Scope
Pallavi Priyadarshini PandaContent Writer
Family Business courses are educational programs that focus on the unique challenges, dynamics, and opportunities associated with managing and operating family-owned businesses. Family Business courses are designed to provide individuals with the knowledge, skills, and tools necessary to navigate the complexities of running a business that is owned and operated by members of the same family.
To be eligible for Family Business courses, candidates must make sure to complete Class 12 or equivalent examination from a recognized board. The average fee for Family Business courses ranges between INR 8,000 and INR 16.2 LPA. Admission to Family Business courses is based on the scores acquired by candidates on entrance exams such as CAT, MAT, SNAP, XAT, CMAT, etc.
Once graduated with Family Business courses, candidates can opt for job profiles such as Family Business Manager/Executive, Succession Planner, Family Business Consultant, Family Office Manager, etc. The average Family Business salary that a graduate can earn ranges between INR 5.1 LPA and INR 22.2 LPA.
Family Business Courses Latest Update:
TANCET exam 2024 will be held on Mar 9, 2024.
OJEE application form 2024 have been released and the last date to fill out the OJEE application form is March 15, 2024.
OJEE 2024 will be conducted from May 6, 2024, to May 10, 2024.
The MAH CET 2024 exam dates are also announced and the exam is scheduled to be conducted on Mar 9, 2024, and Mar 10, 2024.
- Family Business Courses: Highlights
- All About Family Business Courses
- 2.1 Why Study Family Business Courses?
- Family Business Admissions 2024
- 3.1 Family Business Courses: Eligibility Criteria
- Family Business Entrance Exams 2024
- Family Business Courses: Syllabus and Subjects
- Top Colleges for Family Business Courses
- 6.1 Top Government Colleges for Family Business Courses
- 6.2 Top Private Colleges for Family Business Courses
- Family Business Career Scope: Job Profiles, Salary and Top Recruiters
- 7.1 Family Business Salary in India
- 7.2 Family Business Top Recruiters
- Family Business Courses FAQs
Family Business Courses: Highlights
Family Business courses are common in many industries and play a significant role in the global economy. These businesses face specific issues related to family dynamics, succession planning, governance, and more.
Candidates can check the key points of Family Business courses in the table below.
| Particulars |
Family Business Course Details |
|---|---|
| Family Business Course Level |
UG, PG, Diploma |
| Family Business Course Duration |
2-3 years |
| Family Business Course Fee |
INR 8,000 and INR 16.2 LPA |
| Family Business Entrance Exams |
|
| Family Business Popular Colleges |
IIM Calcutta, IIM Indore, Jamia Millia Islamia, S.P. Jain Institute of Management and Research, Amity University, etc. |
| Family Business Job Profiles |
Family Business Manager/Executive, Succession Planner, Family Business Consultant, Family Office Manager, etc. |
| Family Business Average Salary |
INR 5.1 LPA and INR 22.2 LPA |
| Family Business Top Recruiters |
Deloitte, KPMG, Mahindra, Hindustan Unilever, Airtel, etc. |
Note: This information is sourced from the official website and may vary.
Family Business Courses Useful Links:
Q: Which course is best for Family Business?
MBA (Entrepreneurship & Family Business) and BBA (Entrepreneurship & Family Business) are the best Family Business courses in the Management stream that are widely chosen by the candidates.
MBA (Entrepreneurship & Family Business) is a specialised programme designed for individuals seeking to pursue a career in the field of entrepreneurship and family businesses.
On the other hand, BBA (Entrepreneurship & Family Business) refers to a specialised degree programme that focuses on equipping students with the essential knowledge and skills to excel in both the entrepreneurial and family business sectors.
Q: Why should I study an MBA in Family Business?
- Understanding Unique Dynamics: Family businesses have distinct characteristics and challenges compared to non-family businesses, including issues related to governance, succession planning, family dynamics, and long-term sustainability.
- Direct Application: The knowledge gained from an MBA in Family Business can be immediately applied to real-world scenarios within family-owned enterprises.
- Leadership Development: The programme often focuses on developing leadership skills specific to family business contexts, such as conflict resolution, effective communication within family structures, and fostering collaboration among family members.
- Entrepreneurial Ventures: The programme may inspire and empower graduates to pursue entrepreneurial ventures within the family business context or to launch their own family-owned enterprises, leveraging the skills and insights gained during their studies.
Suggested Reading for MBA in Family Business Management:
All About Family Business Courses
Family Business courses are specialized educational programs that focus on the unique challenges, dynamics, and strategies associated with managing and operating a business that is owned and operated by members of the same family.
Family Business courses are designed to provide individuals with the knowledge, skills, and tools necessary to navigate the complexities of running a family-owned enterprise successfully.
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Why Study Family Business Courses?
- Understanding Family Dynamics: Family businesses are distinct in that they involve both family and business aspects.
- Succession Planning: One of the most critical aspects of family businesses is planning for the transition of leadership and ownership to the next generation.
- Specialized Knowledge: Family business courses offer specialized knowledge and skills tailored to the specific needs of family-owned enterprises.
- Career Opportunities: If you plan to work in or with family businesses, having a background in family business management can make you a more attractive candidate for various roles, including managerial, consulting, and advisory positions.
Q: What is Family Business studies?
Family Business studies is a field of research and education that focuses on understanding the unique dynamics, challenges, and opportunities of businesses that are owned and managed by families. Family Business studies examine the intersection between family and business, exploring the complexities that arise when these two worlds collide.
Family businesses are a distinct category characterized by the strong presence of family influence in decision-making processes, succession planning, and the transmission of values and traditions.
Q: What is a BBA in Family Business?
A BBA in Family Business is a specialised degree programme that focuses on preparing students for the unique challenges and opportunities of running a family-owned business. BBA in Family Business combines traditional business education with a deep understanding of family dynamics and the complexities of succession planning.
Students enrolled in a BBA in Family Business will gain knowledge in areas such as Finance, Marketing, Management, and Entrepreneurship, but also gain valuable insights into how to effectively navigate the intricacies of family-owned enterprises.
Family Business Admissions 2024
- Step-1 Choose the program: First research and choose the program then look for universities or colleges that offer Family Business programs. Don't forget to Review the curriculum, specializations, faculty, and facilities after that check academic qualifications, entrance exam requirements, and any additional criteria.
- Step-2 Prepare Required Documents: Prepare all the documents beforehand so that no last-minute issues occur. The documents include academic mark sheets, certificates, Standardized Test Scores (GMAT or GRE), and letters of recommendation.
- Step-3 Fill out the Application Form and Pay the Fees: Complete the application form provided by the institution. This may be done online or on paper and pay any required application fees.
- Step-4 Entrance Exams (if applicable): If the program requires an entrance exam, such as a common entrance test or a specific university's test, register and prepare for it. Take the exam then wait for the result.
- Step-5. Submit Application: Submit all required documents along with the completed application form. Always ensure that all documents have been received and verify the status of your application.
- Step-6 Interview (if applicable): Some programs require a personal or virtual interview Attend it and demonstrate your motivation, skills, and suitability for the program.
- Step-7 Await Admission Decision: Monitor the admission portal or your email for updates on the results. If accepted an official offer letter will be provided by the university.
- Step-8 Confirm Enrollment: Confirm your intention to enroll in the program and Pay the required enrollment or tuition Fees.
- Step-9 Prepare for the Start of Classes: Follow instructions for course registration and orientation. If needed, arrange for on-campus or off-campus housing and attend any orientation sessions to familiarize yourself with the campus and program.
- Step-10. Start Classes: Attend classes and start your academic journey.
Family Business Courses: Eligibility Criteria
The eligibility criteria for Family Business courses can vary depending on the specific program and institution. However, here are some common Family Business eligibility requirements candidates might encounter when applying for Family Business courses:
| Course Level |
Eligibility Criteria |
|---|---|
| UG |
Class 12 or equivalent examination from a recognized board. |
| PG |
Graduation |
Note: This information is sourced from the official website and may vary.
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Q: What degree should I choose if I want to run my Family Business?
If you aspire to run your family business, the choice of degree should ideally align with the nature of the business and provide you with a solid foundation in key business skills.
Below are some of the options of courses that can prepare candidates for a leadership role in a family business:
- BBA
- BCom with a Business Management Focus
- BSc in Entrepreneurship
- MBA in Family Business Management
- Bachelor of Management Studies
Family Business Entrance Exams 2024
Since the Family Business courses are a part of the Business Management stream and are offered as a specialization in MBA (or BBA), admission is usually based on entrance exams. Some institutes conduct their entrance test whereas some accept the national-level MBA entrance exam scores for admission. Few institutes also offer direct admission to candidates based on their marks in graduation.
Some of the popular entrance exams for Family Business courses are given below:
| Entrance Exams |
Exam Dates |
Exam Details |
|---|---|---|
| MAT |
Aug '25 (Tentative) |
|
| CAT |
24 Nov '24 |
|
| XAT |
5 Jan '25 (Tentative) |
|
| CMAT |
May '25 (Tentative) |
|
| ATMA |
Feb '25 (Feb Session) (Tentative) May '25 (May Session) (Tentative) Jun '25 (June Session) (Tentative) |
|
| MAH CET |
March '25 (Tentative) |
Note: This information is sourced from the official website and may vary.
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30 Nov ' 24 | Karnataka PGCET Counselling Final Seat Allotment ... |
Jun '24 | CT SET 2024 Counselling Start TENTATIVE |
Jun '24 | CT SET 2024 Result TENTATIVE |
Important Exam Dates
| Dates | Past Exam Dates |
|---|---|
09 Jun '18 | MMET 2018 June exam |
24 Mar '18 | MMET 2018 March exam |
Q: What is the format of Family Business entrance exams?
The format for the entrance exam of Family business course are:
Objective Type: Multiple-choice questions (MCQs) are common, covering various business and family business-related topics.
Descriptive Type: Some exams may include essay questions or case studies that require detailed responses.
Duration: The duration can vary, typically ranging from 1 to 3 hours.
Family Business Courses: Syllabus and Subjects
The Family Business syllabus includes power and leadership, professionalism of family business, market research, and operations management among others.
The syllabus of Family Business courses is given below for candidates’ reference:
| Family Business Semester 1 |
|
|---|---|
| Business Statistics and Research Methodology |
Computer Applications & Comprehensive Viva |
| Management Of Technology |
Management Concepts and Principles |
| Family Business Semester 2 |
|
| Business Environment |
Marketing Management |
| Industrial Relations Laws |
Organizational Behavior |
| Family Business Semester 3 |
|
| Management Of International Business |
Management Information Systems and E-business |
| Negotiations and Union Management Relations |
Organizational Psychology |
| Family Business Semester 4 |
|
| Business Communications |
Empowerment and Participative Management |
| Strategic Management |
Management of Transformation |
Detailed Family Business Syllabus
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Q: What is taught in Family Business Management course?
Family Business Management focuses on teaching individuals how to successfully manage and navigate the unique challenges faced by businesses that are owned and operated by family members. Family Business Management covers a wide range of topics, including strategic planning, governance, succession planning, and organizational structure.
Candidates can check the Family Business Management syllabus below:
Semesters | Main Subjects |
|---|---|
Semester 1 | Family Business Management, Business Plan Preparation, Small Business Promotion, Entrepreneurial Finance, Dynamics of Family Business Governance. |
Semester 2 | Technology Innovation and Sustainable Enterprise, Social Entrepreneurship, Business Plan and Ethics, Innovation and Creativity, Mergers and Acquisitions. |
Semester 3 | Business Regulations, Finance and Tax Strategies for Family Business, Cost and Management Accounting, Sickness and Turnaround Strategies, Corporate Governance and Social Responsibility. |
Semester 4 | Managing Human Resources, Organizational Behaviour, New Product Development, Enterprise Resource Building, and Finance Management. |
Q: How does the syllabus of Family Business course prepare students for real-world challenges?
The Syllabus is prepared very carefully by taking in mind all the aspects a student needs in real life.
- Practical Exposure: Through internships, consulting projects, and case studies.
- Expert Insights: Learning from faculty with experience in family business consulting or management.
- Networking: Opportunities to connect with family business leaders and alumni for insights and mentorship.
Q: What topics are typically covered in a Family Business syllabus?
Following are the topics that are covered in the syllabus of Family Business courses:
Family Business Dynamics: Understanding family structures, roles, and governance.
Succession Planning: Strategies for transferring leadership and ownership across generations.
Family Governance: Mechanisms for decision-making, conflict resolution, and family meetings.
Business Strategy and Management: General business management principles applied to family-owned businesses.
Financial Management: Financial planning, control and management specific to family enterprises.
Legal and Tax Issues: Legal considerations and tax implications for family businesses.
Conflict Resolution: Techniques for managing and resolving conflicts within family businesses.
Ethics and Values: Addressing ethical dilemmas and integrating family values into business practices.
Top Colleges for Family Business Courses
Several renowned universities and business schools around the world offer Family Business courses and programs. These institutions are known for their expertise in Family Business courses and provide valuable education and resources for individuals interested in Family Business courses.
Here are some top colleges and universities known for their Family Business courses:
Top Government Colleges for Family Business Courses
In India, government colleges and universities often provide quality education in various fields, including Family Business courses. While Family Business courses may not be as common in government institutions compared to private business schools, there are still some government colleges that offer relevant Family Business courses and programs.
Here are a few government institutions in India known for their Family Business courses:
| College Name |
Total Fees |
|---|---|
| INR 60 K |
|
| INR 8 K |
|
| INR 10.98 L |
|
| INR 4 L |
|
| INR 4.37 L |
|
| INR 1.3 L |
|
| INR 8.16 K |
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Top Private Colleges for Family Business Courses
These colleges have a strong reputation for providing high-quality education and preparing students for successful careers after Family Business courses.
Here are a few private institutions in India known for their Family Business courses:
| College Name |
Total Fees |
|---|---|
| INR 11.61 L |
|
| INR 3.4 L |
|
| INR 38.98 L |
|
| INR 8.64 L |
|
| INR 16 L |
|
| INR 6.6 L |
|
| INR 2.25 L |
|
| INR 15.72 L |
|
| INR 16.2 L |
Note: This information is sourced from the official website and may vary.
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Q: Can you suggest the best colleges for BBA in family business and entrepreneurship management in India?
Q: Can you suggest the best colleges for family business management (integrated BBA/MBA)?
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Popular Private Family Business Courses Colleges in India
Family Business Career Scope: Job Profiles, Salary and Top Recruiters
Candidates after completing the Family Business courses may either join their family businesses or start their own venture.
Besides this, candidates can take up managerial roles in business houses, MNCs, or corporate houses in profiles like business administrator, business manager, accounts manager, etc. The Family Business salary will depend on the type of role and profile.
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Family Business Salary in India
The average salary in a family business largely depends on factors such as the size of the business, the industry it operates in, and the region in which it is located.
Candidates can check the job profiles often chosen by the candidates after the Family Business course along with their average salary in the table below.
| Job Profiles |
Description |
Average Salary |
|---|---|---|
| Family Business Manager/Executive |
They play a pivotal role in overseeing the operations of a family-owned business. |
5.1 LPA |
| Succession Planner |
They have an essential role within an organization that focuses on ensuring smooth transitions of leadership and talent within the company. |
17 LPA |
| Family Business Consultant |
They are an expert professional who specializes in guiding and assisting family-owned businesses. |
14.4 LPA |
| Family Office Manager |
They are skilled professionals who oversee the comprehensive financial operations of a high-net-worth individual or family. |
22.2 LPA |
Note: The average salary has been taken from Ambitionbox.com.
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Family Business Top Recruiters
When it comes to pursuing a course in Family Business, it's crucial to have a clear understanding of the top recruiters who actively seek out graduates in this field. These recruiters play a pivotal role in ensuring that the skills and knowledge acquired during the course are put to good use.
Candidates can check the top recruiters in the table below:
| Family Business Top Recruiters |
|
|---|---|
| Deloitte |
KPMG |
| Mahindra |
Hindustan Unilever |
| Airtel |
American Express |
Useful Links for Family Business Courses:
Q: What is the salary of an MBA in Family Business graduate?
The salary of an MBA graduate specializing in Family Business in India can vary widely depending on several factors such as the individual's level of experience, the reputation of the business school from which they graduated, the size and profitability of the family business, the industry in which the business operates, and the geographic location.
However, here's a general overview of the salary range based on different experience levels:
· Entry-Level: INR 5 - 10 LPA
· Mid-Level: INR 10 - 20 LPA
· Senor-Level: INR 20 - 50 LPA
Q: Is it worth to opt for family business program? What are the placement opportunities after it?
Family Business Courses FAQs
Here are some important FAQs related to the Family Business Course:
Q: What is an MBA in Family Business?
MBA in Family Business is a specialised programme that focuses on equipping individuals with the knowledge and skills required to successfully manage and sustain a family-owned business. This unique degree programme goes beyond the traditional MBA curriculum and delves into the complexities and dynamics specific to family-owned enterprises.
MBA in Family Business covers a wide range of topics, including strategic planning, succession management, governance, conflict resolution, and wealth preservation. MBA in Family Business emphasizes the importance of balancing family dynamics with business decision-making, as well as fostering intergenerational communication and collaboration.
Q: Is pursuing an MBA in Family Business Management worth it?
Yes, an MBA in Family Business Management is worth it if you intend to work within your family business or aspire to take on leadership roles within it, an MBA in Family Business can provide valuable knowledge and skills tailored to the unique challenges of managing such enterprises.
If you're already involved in the family business, an MBA in Family Business Management can equip you with a broader set of management skills that can be applied to various aspects of business operations, potentially leading to improved performance and competitiveness.
Q: What is the difference between entrepreneurship and family business management programme in BBA /MBA?
The primary distinction between an Entrepreneurship programme and a Family Business Management programme in BBA/MBA lies in their focus and scope. An Entrepreneurship programme generally emphasizes the skills and mindset required to start and manage a business, irrespective of its ownership structure. It covers aspects like ideation, business planning, and risk management applicable to a variety of ventures.
On the other hand, a Family Business Management programme specifically tailors its curriculum to address the unique challenges of running a family-owned enterprise. It delves into topics such as succession planning, family dynamics in business, and governance structures unique to family businesses. While both programs foster business acumen, the Family Business Management programme narrows its focus to address the intricacies of businesses where family relationships are intertwined with the management structure. Choosing between the two depends on whether your interests lie in launching a new venture or managing an existing family business.
Know More:- https://www.shiksha.com/college/entrepreneurship-development-institute-of-india-gandhinagar-1363
Most Popular Courses
Popular Courses
- Post Graduate Programme in Family Managed Business (PGP-FMB)S.P. Jain Institute of Management and Research, Mumbai
- BBA in Family Business and EntrepreneurshipAmity University, Noida
- MBA in Family Business and EntrepreneurshipInstitute of Management, Nirma University
- M.Com. in Entrepreneurship and Family BusinessGoswami Ganesh Dutta S.D. College
- Post Graduate Diploma in Management (PGDM)Calcutta Business School
- Post Graduate Diploma in Management (PGDM)Delhi School of Business
- Bachelor of Business Administration ( BBA Hons.)Institute of Business Management, GLA University
- BBA in Family BusinessInstitute of Business Management, GLA University
- Bachelor of Business Administration (BBA)Institute of Business Management, GLA University
- Master of Business Administration (MBA)S.B Patil Institute of Management, Pimpri Chinchwad Educations Trust's
Popular Family Business Courses PG Courses
PG Courses
- MBA/PGDM
73 Colleges
- PG Diploma
5 Colleges
- Executive MBA/PGDM
2 Colleges
- M.Com
2 Colleges
- M.Sc.
1 College
News & Updates
Student Forum
Anything you would want to ask experts?Answered a month ago
While work experience is not always mandatory, it can significantly enhance your profile and chances of admission. It demonstrates your practical understanding of business operations and your commitment to the family business.
P
Contributor-Level 10
Answered 2 months ago
A BBA in Family Business is a specialised course designed to help students learn the skills and knowledge needed to manage and grow family-owned businesses. It focuses on entrepreneurship, management, and the unique challenges of running family enterprises.
K
Beginner-Level 5
Answered 2 months ago
Following are the topics that are covered in the syllabus of Family Business courses:
Family Business Dynamics: Understanding family structures, roles, and governance.
Succession Planning: Strategies for transferring leadership and ownership across generations.
Family Governance: Mechanisms for decisio
P
Contributor-Level 10
Answered 2 months ago
The Syllabus is prepared very carefully by taking in mind all the aspects a student needs in real life.
- Practical Exposure: Through internships, consulting projects, and case studies.
- Expert Insights: Learning from faculty with experience in family business consulting or management.
- Networking: Opportu
P
Contributor-Level 10
Answered 2 months ago
The format for the entrance exam of Family business course are:
Objective Type: Multiple-choice questions (MCQs) are common, covering various business and family business-related topics.
Descriptive Type: Some exams may include essay questions or case studies that require detailed responses.
Duration:
P
Contributor-Level 10
Answered 2 months ago
If you aspire to run your family business, the choice of degree should ideally align with the nature of the business and provide you with a solid foundation in key business skills.
Below are some of the options of courses that can prepare candidates for a leadership role in a family business:
- BBA
- BCom
P
Contributor-Level 10
Answered 2 months ago
Family Business Management focuses on teaching individuals how to successfully manage and navigate the unique challenges faced by businesses that are owned and operated by family members. Family Business Management covers a wide range of topics, including strategic planning, governance, succession p
P
Contributor-Level 10
Answered 2 months ago
MBA in Family Business is a specialised programme that focuses on equipping individuals with the knowledge and skills required to successfully manage and sustain a family-owned business. This unique degree programme goes beyond the traditional MBA curriculum and delves into the complexities and dyna
P
Contributor-Level 10
Answered 2 months ago
Family Business studies is a field of research and education that focuses on understanding the unique dynamics, challenges, and opportunities of businesses that are owned and managed by families. Family Business studies examine the intersection between family and business, exploring the complexities
P
Contributor-Level 10
Answered 2 months ago
MBA (Entrepreneurship & Family Business) and BBA (Entrepreneurship & Family Business) are the best Family Business courses in the Management stream that are widely chosen by the candidates.
MBA (Entrepreneurship & Family Business) is a specialised programme designed for individuals seeking to pursue
P
Contributor-Level 10
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How important is work experience for admission to MBA in Family Business program?