- Personalised Academic Advisory by Senior & Experienced Counsellors
- An Edtech you can trust - Advisory on what is relevant and good for you
- Focused Institutes and Programs hence no Cross-Selling
- Best in class and unmatchable technology, infrastructure and experienced team which were pioneers and now with decades of Experienced VCNow
- Centers deliver the next best thing to a Live Classroom experience
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
The program has been designed to equip family business leaders with a specific set of skills that enhances their competencies and conditions them to capitalise on opportunities and challenges. The next generation of family business leaders will gain a deep understanding of business operations, master the latest management methodologies, tools and techniques, enhance their leadership skills and help drive innovation to create a business that endures for generations
- Assess and grow existing Family Business
- Identify and build New Business Opportunities
- Learn Business Modelling, Planning and Fund raising
- Gain financial proficiency to Run your Own Business
- Understanding Venture Finance, Risks, Returns
- Growth Hacking by using new age Digital Sales, Marketing, Logistics, Supply Chain & Distribution Tools using Analytics
- Get up to speed with GST, TDS, Labour Law Compliances
- Manage Self and Teams,
- Learn to innovate, think differently, create, and implement Business Strategy
- Help family in Succession Planning
- Get your way through effective Business and Leadership Communication
Who Will Benefit?
The course is intended for next in line Family scions who are contemplating to grow and build family businesses as well as starting a new Entrepreneurial Venture. lt will address aspects of the management and transition of a family-controlled enterprise. Basically all business owner and entrepreneurs will gain a more of a holistic view point to reach to next milestone in their business.
This Program Cover?
- Getting to know your Business, its Eco-system and Environment, Entrepreneurial approaches, mapping and measuring key business health metrics - OKRs, Passion and Values driving, building and growing Family businesses, Challenges and suggested management approaches
- Understanding and Managing Finance & Commercial Functions - Costs, Expenses, Understanding Gross Margin, Net Margin, Driving Profitability, Ability to Read, understand and analyse P&L and Balance Sheet, Ratio Analysis
- Project Finance, Risk, Returns, lRR, lmportance of cash flows and its management, budgeting, VC investment
- TDS, GST and Business & New Labour Law Codes
- New Age Sales & Distribution Management - Tools and Techniques B2B and B2C
- Vision Mission and Values, Strategy formulation, implementation and Governance
- Organization Building - Managing Self and Managing Teams, Leadership development.
- Driving Change Management in Family Businesses
- Roles, processes, and structures to ensure that the organization success.
- Succession Planning in Family Businesses.
- Driving Excellence in Operations and Execution
- Vendor Management, Input Cost Management
- Creating Business Models, Value Proposition, Use of Canvases Writing a Business Plans for external fund raising
- Regulatory Compliances for Managing and Starting a Business
- Digitization of Business - Leveraging IT tools for organizational growth
- Negotiations, conflict resolution, persuasion, lnfluencing skills in family business context.
Module 01: Entrepreneurship in the New Age
Module 02: Managerial Accounting and Finance
Module 03: Venture Financing
Module 04: Taxation
Module 05: Marketing 101
Module 06: Product Management for Entrepreneurs
Module 07: Digital Marketing Tools Techniques and its applications for branding and lead generation
Module 08: Business Strategy
Module 09: People Management and Leadership
Module 10: Organization Design and FB - Succession Planning
Module 11: Operations 101
Module 12: Advance Excel and Analytic Tools for Decision Making and Growth Hacking
Module 13: Logistics & Supply Chain Management
Module 14: Business Model
Module 15: Business & Company Laws
Module 16: Designing and using IT Systems
Module 17: Business & leadership Communication
Application of Learning in Family Business through Project Assignment Presentations in almost all courses
Optional International immersion Practical Information sharing sessions (on schemes)
Why Should You
Invest In This Program?
- One of the Top IIM to Offer Family Business & Entrepreneurship Programme - Programme offered by one of the leading business schools with proven pedagogy.
- The program will introduce participants to the latest theories and best practices in marketing, digital marketing tools, finance, and innovation into actionable strategies.
- Prestigious IIM Indore Executive Education. Alumni status awarded to participants who complete the program successfully.
You will get 9 days (36 sessions) of Intensive
Learning at the IIM Indore Campus situated atop a
scenic hillock for contemplative learning.
- 3 Days at the beginning of the program 12 Sessions
- 3 Days around the mid of the program 12 Sessions (Dates to be decided)
- 3 Days Towards the end of the program 12 Sessions
- It entails Insightful use-cases and a discussion-led hands-on learning approach culminating with a Capstone Project.
- Contextually designed for executive participants. Program faculty team includes the best of the domain experts. Focus on real business use cases.
Note: This is an indicative list of courses. Institute may change the courses from time to time to meet the demand of the industry/Learners.
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. Sachidananda B S
“Prof Sachidananda Benegal (Sachi has he is affectionately
known) is a faculty in Strategic Management area at the
Indian Institute of Management Indore - where he teaches
strategic management and entrepreneurship.
He is one of the top specialists in entrepreneurship thanks to his 15-year active involvement with the entrepreneurial ecosystem. He has taught in numerous management development programs catering to governmental agencies, corporate and family businesses. At incubators and accelerators connected to reputable academic institutions like Indian Institute of Management and Indian School of Business, as well as regional entrepreneurial networks, he has given a number of invited guest lectures and workshops.
He can communicate the subtleties of the intricate business process of resolving uncertainty with enthusiasm and accuracy thanks to his experience across various stages of the venture growth and the strong academic training. In addition to actively engaging with participants across programs and institutions as a teacher, he also engages with entrepreneurs, family businesses and SMEs as an advisor and mentor guiding them to navigate uncertainty and pursue their venture growth. The socio-cognitive dynamics of venture ideas, perspective-taking in family firms, an evolutionary perspective on entrepreneurial ecosystems, and social enterprises are some of his areas of interest in research. His work has been accepted at numerous reputed and competitive national and international academic conferences, including those organized by the Strategic Management Society, the Academy of Management, the CCGC, GIZ, the BAM, and INDAM, among others. Additionally, he has received best paper recognition for his submitted academic work. In order to assist aspiring entrepreneurs with their venture process, he has also written a book.
He holds a PhD in strategic management and entrepreneurship from the Indian Institute of Management Bangalore (IIMB), a postgraduate management diploma from the same institution, as well as a bachelor's degree in computer science and engineering from the National Institute of Technology Karnataka Surathkal. He started a couple of entrepreneurial businesses in the educational and SME consultancy fields before entering the academic world at IIM Indore. During this time, he assisted various SMEs in locating opportunities and growing their operations. Later, he worked with the IIMB-affiliated N S Raghavan Centre for Entrepreneurial Learning (NSRCEL), one of the top incubators and accelerators in India. He keeps giving business owners, family enterprises, and SMEs guidance and mentoring them to assist them overcome growth challenges ”
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||Commitment Fee (within 7 days from the date of offer sent)||10,000|
|Program Fee (1st Instalment)||Payable at the time of admission||110,000|
|Program Fee (2nd Installment)||Payable within 3 months of admission (excluding GST)||110,000|
|Program Fee (3rd Installment)||Payable within 6 months of admission (excluding GST)||110,000|
|Program Fee (4th Installment)||Payable within 9 months of admission (excluding GST)||107,000|
|Total Fees Exclusive of Application Fee & GST*||450,000|
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.