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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.
Program Overview
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
Program Objective
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
Program Takeaways
- 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.
What Does
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.
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
Frequently Asked Questions (FAQs)
Fees Structure
| Fee Towards | Deadline | Amount |
|---|---|---|
| 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.
