MBA in Family Business: Course, CAT 2024, Fees, Syllabus, Entrance Exam, Top Colleges, Career Scope

An MBA in Family Business Management is a specialised graduate degree programme designed to provide individuals with the knowledge, skills, and strategies needed to successfully manage and lead family-owned enterprises.

Family businesses are unique in that they blend familial relationships with business operations, which can introduce both opportunities and challenges. Therefore, an MBA in Family Business Management focuses on understanding the dynamics of family-owned businesses and equipping students with the tools to navigate these complexities effectively.

Innovative 12-month, tri-city Postgraduate programme designed to equip incumbents of family businesses with the knowledge, skills and attitude required to tackle challenges that are unique to family managed businesses. Global intelligence is a unique outcome of the Global FMB programme as participants are given opportunities to study at our campuses in Dubai, Mumbai and Singapore, and as a result, develop the skills needed to take their business global.

• 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:

Popular Colleges Offering MBA in Family Business

An MBA in Family Business Management is a specialized Master of Business Administration programme designed to equip individuals with the skills and knowledge necessary to effectively manage and lead family-owned businesses. 

Family businesses have unique dynamics and challenges compared to other types of enterprises, often involving complex interplay between family relationships, ownership structures, and business operations.

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.

While pursuing an MBA in Family Business Management is not necessary for the upliftment of one’s family business endeavours, however,  the course can help in numerous ways. 

Whether you need to pursue an MBA in Family Business Management to expand your family's business depends on various factors, including your current skills, the specific needs of the business, and your long-term goals. 

Here are some considerations to help you make an informed decision:

• Understanding Family Dynamics: Family businesses often have complex dynamics that can affect decision-making, succession planning, and overall business strategy.
• Succession Planning: Succession planning is a critical aspect of family business management, ensuring a smooth transition of leadership and ownership from one generation to the next.
• Enhancing Leadership Skills: Effective leadership is essential for the success of any business, and family-owned enterprises are no exception. 
• Access to Resources and Expertise: Many MBA programs have faculty members with expertise in family business management, as well as resources such as research centres, case studies, and industry partnerships focused on family-owned enterprises.

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.

The table below shows the private best MBA colleges in India with no entrance exams along with their total tuition fees:

The admission procedure for MBA at IPS business school is as follows:

• Fill out the application form and upload the required documents online on the site of IPS business school.
• Than Pay the application fee of 550 INR.
• After that Appear for the entrance exam, if applicable. 

The entrance exams for different courses are:

• CAT (Common Admission Test)
• MAT (Management Aptitude Test)
• XAT (Xavier Aptitude Test)
• CMAT (Common Management Admission Test)
• ATMA (Aspiring Minds Test for Management Admissions)

Than appear for an Interview. Wait for the admission decision and check the college website for the latest update.

Don't forget the required documents for the application that are follows:

• Class 10 and 12 marksheets
• Graduation marksheet (if applicable)
• CAT/MAT/XAT/CMAT/ATMA score (if applicable)
• Passport-size photographs
• Signature
• Aadhaar card copy or passport copy 

The CAT (Common Admission Test) is a highly competitive entrance exam for admission to various management programs offered by top business schools in India. The percentile score in CAT exam is based on the relative performance of the test taker compared to all the other test takers.

The cutoff percentile for admission to top business schools varies from year to year and also depends on factors such as the number of candidates, difficulty level of the exam, and the number of available seats. In general, a percentile score of 90 or above is considered a good score and can help you secure admission to some of the top business schools in India. However, to increase your chances of admission to the top-tier business schools, a percentile score of 95 or above is preferred.

In rare circumstances, it is possible to pursue an MBA without taking any entrance exam. The CAT, MAT, GMAT, XAT, and other standardized entrance exams are required for admission to many MBA programs worldwide. 

If you are not planning to take the CAT in 2024, listed below are some direct admission eligibility criteria to help you be accepted into MBA programs.

• The minimum score required in the UG level examination may differ from one college to another, however, the student must have scored at least 50%-65% aggregate in his or her graduation.
• For the reserved category, the score should at least be 45% aggregate.
• Some institutes accept other competitive exam scores such as XAT, MAT, GMAT, NMAT, ATMA, SNAP, etc.

If you did not appear for the CAT exam and still wish to get admission to the best MBA colleges in India without CAT, then, here is a list of top MBA institutes that give admissions based on different entrance criteria or exams.

The ideal preparation time for the Xavier Aptitude Test exam is six to nine months with complete dedication. Some students take lesser time in completing the Xavier Aptitude Test preparation. However, students must make their own Xavier Aptitude Test exam preparation strategy according to their strengths and weaknesses.

XAT exam pattern:-

Exam Mode: Online Exam

Duration: 180 minutes

Sectional Time Limit:

• For Part 1: 170 minutes
• For Part 2: 10 minutes

XAT Syllabus: Decision Making, Verbal & Logical Ability, Quantitative Ability & Data Interpretation, General Knowledge, and Essay Writing. Question Paper Break Up

Part 1: Decision Making, Verbal & Logical Ability, And Quantitative Ability & Data Interpretation 

Part 2: GK

Sectional Breakup:

• Decision Making: 21 Questions 
• Verbal & Logical Ability: 26 Questions
• Quantitative Ability & Data Interpretation: 28 Questions 
• General Knowledge: 20 Questions

Marking Scheme you will get 1 mark for every correct answer. 1/4th mark will be deducted for every incorrect answer. 0.10 marks will be deducted for more than 8 un-attempted questions No negative marking in the General Knowledge section.

Sectional Weightage:

• Decision Making: 21 marks
• Verbal & Logical Ability: 26 marks
• Quantitative Ability & Data Interpretation: 28 marks
• General Knowledge: 20 marks 

Preparation Tips:

Know the exam pattern and the syllabus.

• Make a short note.
• Practice the Previous year's question paper.
• Attempt Mock tests.
• Revision is necessary

For more information, you may visit the Shiksha XAT exam page.

 (https://www.shiksha.com/mba/xat-exam). .

XAT (Xavier Aptitude Test) and CAT (Common Admission Test) are both popular management entrance exams in India. Both exams are known for their high level of difficulty and are considered challenging to crack. In terms of difficulty, it is difficult to compare XAT and CAT as both exams have their own unique characteristics.

However, XAT is considered to be more challenging than CAT in certain aspects such as:

1) Exam Pattern: XAT has a more varied exam pattern as compared to CAT. XAT has an additional section of General Knowledge, Essay Writing, and decision-making which requires a different skill set as compared to CAT.

2)Time Management: XAT has a higher number of questions as compared to CAT. And the time allotted for the exam is also relatively less. This makes time management a critical aspect for XAT aspirants.

3) Verbal Ability: XAT has a stronger focus on Verbal Ability as compared to CAT. The Reading Comprehension passages in XAT are usually longer and more complex than CAT. Which makes it more challenging. However, it is important to note that the level of difficulty of these exams varies from year to year, and it ultimately depends on the individuals preparation and skill set.

Choosing the best MBA specialisation for a family business depends on various factors such as the specific needs and challenges of the business, your personal career goals, and the resources available to you. 

However, here are some MBA specializations that are particularly relevant and beneficial for managing Family Business:

·       MBA in Marketing

·       MBA in Finance

·       MBA HR (Human Resource)

·       MBA in International Business

·       MBA in Banking & Financial Services

·       MBA Business Analytics

·       MBA Family Business

Hi, to determine the worth of joining an MBA college in India, you need to go through its Return o Investment (ROI). Listed below are some of the top MBA colleges in India along with their total tuition fees and average placement package:

Hope this information proves beneficial for you!!

It is estimated that pursuing an MBA course in India can be economical. Listed below are some of the affordable MBA colleges in india which are having fees of less than INR 1 lakh:

IIM Ahmedabad emerged to be as the No. 1 MBA college in India followed by IIM Bangalore and IIM Kozhikode. Listed below are the various colleges along with their NIRF ranking over the past three years, i.e. from 2022 to 2024:

Hope this information proves beneficial for you!!

Hi, IIM Bangalore offered the highest placement package ranging between INR 32 LPA. Prominent recruiters include BCG, Brain, HUL, ITC, TATA, Airtel, Amazon, Uber, etc.

The following is a list of the top recruiters and average placement packages of top MBA colleges in India:

Hope this information proves beneficial for you!!

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

Here is a list of a few companies that hire MBA in Family Business Management graduates: 

Hi, Maharashtra has the highest number of MBA colleges in India, i.e., 749 followed by Uttar Pradesh, Delhi NCR, Andhra Pradesh, etc. The table below shows the state-wise distribution of top MBA colleges in India along with their number and names of colleges:

Hope this information proves beneficial for you!!

The prerequisites for MBA programs might vary from one campus to the next. The following, however, is the basic MBA eligibility requirement:

• As a baseline requirement for admission to the MBA (full-time) program, candidates must have earned their bachelor's degree in any discipline or its equivalent from an accredited university.
• The majority of institutions adhere to the graduation minimum score requirement of 50% overall or an equivalent CGPA. The required minimum score for students in the reserved category is 45% overall, or an equivalent CGPA.
• Candidates for graduation who are in their final year may also apply for an MBA if they can offer documentation that their degree was earned within the institute-specified time frame.

Yes, the difficulty level of CAT syllabus is very high as compared to other MBA entrance exams. However, if you prepare well and follow the CAT exam pattern well, you will be able to score well. Besides having an understanding of the CAT syllabus 2024, candidates also need to be well aware of the CAT exam pattern before they start preparing for the exam. The CAT exam pattern was revised in 2021 and the number of questions were reduced from 76 to 66. The structure of CAT 2022 and CAT 2023 was the same. The syllabus is still tougher than other exams.

The most important things to keep in mind are:

1. CAT exam mode is online
2. Each question carries three marks 
3. There is negative marking of minus one mark for wrong attempts

The section-wise distribution of questions and difficulty levels as per the latest CAT exam pattern are listed below:

• Quantitative Ability (QA) - 24 questions, difficulty level - moderate to high 
• Data Interpretation and Logical Reasoning (DILR) - 20 questions, difficulty level - moderate 
• Verbal Ability and Reading Comprehension (VARC) - 22 questions, difficulty level - moderate. to high

There are 5,500+ best MBA full form (Master of Business Administration) Colleges in India. Out of which, 3,787 colleges are privately owned, 532 colleges are owned by public/government organisations, and 77 colleges are owned by public-private entities. CAT, MAT, and CMAT are some of the most accepted entrance exams in top MBA colleges in India. IIM Ahmedabad, IIM Bangalore, and IIM Kozhikode are some of the top MBA colleges in India.

The table below shows the top MBA colleges in India along with their various courses offered and its total tuition fees:

Hi, Doing an MBA at institutions other than the Indian Institutes of Management (IIMs) can still be very valuable. Many non-IIM institutions offer excellent MBA programs with strong faculty, career support, and networking opportunities. It's important to research and consider factors such as programme reputation, faculty expertise, alumni network, and specific career goals when evaluating the worth of an MBA program. 

Listed below are the top MBA colleges in India other than IIMs along with their total tuition fee:

Hope this information proves beneficial for you!!

Hi, It is estimated that pursuing an MBA in India is economical, with 1,716 colleges offering MBA courses with annual fees ranging from INR 1-2 lakh. The table below showcases the names of the top MBA schools in India along with their fee ranges.