Family-owned businesses have played a crucial role in the economy of most countries. Much of the retail trade, the small scale industry, and the service sector are run by family businesses where two or more extended family members influence the direction of the business through the exercise of kinship ties, management roles or ownership rights. In India, it is estimated that a major percentage of the registered firms are family businesses. Family members create new firms together and fund new ventures rather than seeking true venture capital. It has also been observed that as an exit strategy, entrepreneurs are more likely to pass their firms to their families instead of going public. An MBA in Entrepreneurship and Family Business helps graduates to identify family dynamics that affect most business decisions and learn how to overcome day-to-day operational hurdles to continue growth and profitability. It aims to assist family-owned firms to be in line with professional organizations and is offered as a professional course at the postgraduate level, which aims at stimulating strong entrepreneurial interest among family-owned businesses even as it equips graduates with the subject-matter expertise, skills, attitude to create, innovate and build, and sustain scalable businesses. The course is also relevant and useful to first generation graduate-entrepreneurs who plan to create new businesses and prepares them for fulfilling entrepreneurial careers—both as family-owned businesses as well as first-generation innovators.

Entrepreneurship

Graduate