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Rs3 million course on how to run your family business

P.S. Jayaram / 18 December 2012

HYDERABAD - The Indian School of Business (ISB), the Hyderabad-based world-renowned premier management institution, has announced the launch of its new Management Programme for Family Business (MFAB) to tap the potential in family-managed businesses which account for more than 70 per cent of the top 500 companies in India.

The course would meet the growing demand for a management programme specifically designed to groom the younger generation of family-owned businesses. The 15-month flexible course, designed in collaboration with US-based Kellogg School of Management, will commence in August next year and the application process would start in January.

ISB Deputy Dean Deepak Chandra said: “It is a part-time course spread over 15 months and will be delivered in modules of seven days, every sixth week at the ISB campuses in Hyderabad and Mohali.”

But how is this programme different from the conventional management course?

Say Deepak Chandra: “Family-owned companies around the globe are currently facing unique challenges as they navigate a highly competitive business environment developing their next generation leadership and managing succession, governance, generational struggles around business strategy and professionalisation. We believe that MFAB will play a crucial role in addressing these complex challenges.”

Chandra and Kavil Ramachandran, an expert in family-managed businesses, explained that they had done market research and found that FMB programmes were the need of the hour. “The course designed by us will bring together the best practices in this segment globally to the classroom,” they said.

The selected candidates will have an opportunity to pursue a part of the course at Kellogg School of Management in Chicago. The programme will provide an opportunity for international immersions in the US, Africa and China.

“We are planning an intake of 60 candidates. The admissions for the programme will begin on January 1. To be a part of this course, prior work experience of four years is recommended, though it is not the prerequisite,” Chandra said, adding that the course fee, inclusive of boarding and other charges, will be around Rs3 million.

Like the other world-class programmes from the ISB, the curriculum of MFAB has been contextualised to the needs of the segment. The curriculum will focus on enhancing analytical and functional skills, strengthen strategy and leadership as well as bring to the fore solutions to unique family business related challenges.

The MFAB will support the business scions to realise their growth aspirations by providing modern management tools and help professionalise their businesses. It will equip them with diverse learning opportunities through interactions with world-class faculty, international exposure, industry interventions and experiential learning, the ISB officials said.

“This course is a part of the school’s mission of developing and enhancing business leadership through innovative world class programmes in management. We believe that there exists a huge need for a top-notch global programme for grooming the future leaders of family-owned businesses,” ISB Dean Ajit Rangnekar said,

Over the years, ISB has successfully launched pioneering management programmes in India, aimed at young working professionals, mid-managers as well as senior management. The latest offering seeks to address the distinctive challenges that are faced by family business owners and groom the future leadership for an increasingly globalised world, he said.

The applicants for the course will be required to appear for the Business Aptitude Test (BAT), and a personal interview.


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