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Background - Family Managed Businesses
In the next 15 years, 40% of India's large family businesses will undergo a handover from the founder to the second generation of owners, and 35% of them to the third or fourth generation. (Source CII Family Business Newsletter Aug 2016)
Contribution Of Family Managed Businesses In Corporate History:
According to CII, Family Business contributes 60-70% of the GDP of
most developed & developing countries.
According to Farhad Forbes, co-chairman of Pune-based Forbes Marshall, also the current chairman of FBN (Family Business Network) International, Globally, as well as in India, family businesses contribute to over 70% of the GDP (size of the economy) of most developing and developed countries.
In the case of India, this could be even more because every small enterprise is family-run
Family Managed Businesses (small as well as large) have a significant transnational presence – 35% of Fortune 500 are family-controlled.
India’s largest companies (Ambani, Adani, Bajaj, Birla, Godrej, Goenka, Hinduja, Tata, etc.) were once Family Managed Businesses which have later transitioned into Professionally Managed Businesses with the Owner's Family still owning a large part of these Companies.
Problems Faced By Family Business
Family businesses have a long-term vision and tend to perform better than corporate enterprises. However, only 13% of family businesses survive to the 3rd generation and one-third of families disintegrate due to generational conflict. Indian family businesses form the backbone of the Indian economy and there is a need to extend the life span of these businesses to ensure the economy continues to benefit from their contribution. The rapid change in consumer preferences, the development of disruptive technologies, and the increasing complexity of the global marketplace are just some of the issues that family businesses must contend with. In order to stay competitive and remain relevant, owners must find innovative ways to ensure their businesses are agile, efficient and focused on long-term growth. Furthermore, in order to ensure their longevity, family businesses must be prepared to tackle the unique challenges that come with this structure, such as succession planning and managing multi-generational dynamics.
The Need for a Family Business Management & Entrepreneurship Program
Traditionally managed Family Businesses are undergoing intense churn and transformation due to competition and changing business models in the current disruptive VUCA environment. As Family Businesses transition to their Next Generation, there is a growing need for preparing their next in Line Leaders for the Success, Growth and Continuity of their existing Business as well as Venture into New Businesses.
IIM Indore has evolved and designed a Program that would help aspiring Family Business and Entrepreneurs create and develop their new-age leaders who have the skill sets and competencies required to navigate a volatile, uncertain, complex, ambiguous, and disruptive environment.
The course is designed for "next in line" and "future generation" leaders who desire to build and grow their businesses as well as build new ones.
It will focus on building capabilities in decision making and strategies in various aspects of business. The Program aims at creating a new mindset and business outlook for family-managed businesses.
The course is intended for the next generation of family scions who are contemplating growing and building family businesses as well as starting a new entrepreneurial venture. It will address aspects of the management and transition of a family-controlled enterprise.
The Program will present both a conceptual as well as a practical, hands-on framework for managing family business organisations.
Program will aim at expanding the knowledge base of participants through exposure to new and diverse management tools, techniques, frameworks, theories, peer group learning, networking, relationship dynamics, and transition strategies. The program will provide an opportunity for participants to assess their current businesses and identify strengths, opportunities, threats, and areas for improvement to help grow family legacy businesses as well as build new businesses.
ACCELERATES YOUR BUSINESS GROWTH
HELPS DEVELOP ENTREPRENEURIAL ACUMEN
STRATEGIZE BETTER & LEAD EFFECTIVELY
To Be Eligible For The Course, You Need
50% In UG/PG Of Any Discipline
2+ yrs of Work Experience
Class Schedule & Delivery
Live 2-way interactive Lectures delivered by IIM Indore
faculty over an HD Video Conference Direct to Desktop
Every Wednesday & Saturday Evening.
The normal timing of the sessions will be as follows:
Wed, First session: 7.00 PM to 8:15 PM
Sat, First Session: 2:30 PM to 3:45 PM
Sat, Second Session: 4:00 to 5:15 PM
The 12 months program includes 9 days of Intensive Learning at the IIM Indore Campus situated atop a scenic hillock for contemplative learning.
- The pedagogy will be a judicious mix of Conceptual Teaching and Case Studies and Discussions.
- Hands on application of Knowledge and Concepts to Family Business will be tested for each Module in the form of Projects / Assignments will have substantial weightage in Assessments along with online exams / assessments for conceptual testing.
- Objective of learning Sessions is to bring to life management of various aspects of family business functions, through conceptual understanding, experience sharing and dialogue of students, application of concepts, frameworks, tool kits, through interactive sessions.
- Application of knowledge through hands on assignments in terms of application of learnings in the Family business will prepare participants to gain first-hand knowledge of managing and improving family Business.
Participants who successfully complete the program will be
awarded Executive Education Alumni status. They will be
required to apply separately along with the necessary fee to
register their name.
Benefits available to Executive Education Alumni:
- Communication of brochures and newsletters from IIM Indore
- Access to IIM Indore Campus Library (onsite access only)
- Official email ID of the institute
- ID Card
The IIM Indore Advantage
Indian Institute of Management (IIM) has been ranked 7th as per the MHRD-NIRF Rankings 2022
IIM Indore is amongst 6 IIMs and amongst top 100 MBA - School's Globally
Prof. Kajari Mukherjee
“Prof Kajari Mukherjee is Professor in Indian Institute of Management Indore. Her area of research is Organisation Design using the paradigm of Complexity Theory, issues in Human Resources Management with focus on family business, and Corporate Social Responsibility in emerging countries. Her various books, journal articles, case studies and conference papers reflect her wide-ranging research interest. Before joining academics, she worked in industry for over two decades. Her experience, in senior positions, spans a wide gamut of industries (IT, BFSI, FMCG, Oil & Gas, Manufacturing, Ports & Infrastructure, Engineering, etc), both in public and private sector. She was Head of the Department of human resources management (HRM) of a software firm for close to five years. She was Principal Consultant in one of the largest consultancy firms in the world. She consults in the areas of change management, end-to-end HR process design and corporate social responsibility. She is M.Sc. (Mathematics), PGDRM (IRMA) and PhD from Tata Institute of Science (TISS). She was one of the twelve senior managers of India selected for Chevening scholarships (UK) in 2004. She is the recipient of multiple research grants. She was awarded the “Best Teacher” award in IIM-Indore.”
Evaluation & Certification
Industry Mentors will assess Performance of Application of Knowledge
Performance of participants will be monitored on a continuous evaluation basis through quizzes, assignments, tests and examinations. The participant is required to score minimum marks/grades as decided by the Institute from time to time to complete the course.
Sample certificate is indicative. The Institute reserves the right to revise it
Learn At Your Own Pace
Frequently Asked Questions (FAQs)
|Commitment Fee (within 7 days from the date of offer sent)
|Program Fee (1st Instalment)
|Payable at the time of admission
|Program Fee (2nd Installment)
|Payable within 3 months of admission (excluding GST)
|Program Fee (3rd Installment)
|Payable within 6 months of admission (excluding GST)
|Program Fee (4th Installment)
|Payable within 9 months of admission (excluding GST)
|Total Fees Exclusive of Application Fee & GST*
Participants are expected to attend all sessions of a given course. Participants may take leave on account of emergencies, participation in management festivals, co-curricular activities, etc., subject to the approval of the Programme Coordinator. However, a 75% minimum attendance requirement would be considered for the final grading.