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Updated at : March 14, 2024DOWNLOAD E-BOOK
Online MBA in Family-Managed Business
An online MBA in family-managed business makes you run family-owned enterprises which play an important part in the global economy in today's dynamic and competitive commercial environment. These businesses face unique difficulties and possibilities that need specialized knowledge and a thorough understanding of family dynamics and business concepts. Individuals looking to develop and manage family companies would benefit from studying an online MBA program customized to their requirements to grow and achieve in this field.Watch Video
Online MBA in Family-Managed Business Program Overview
Online MBA in Family-Managed Business is a 2 years postgraduate program that provides a comprehensive curriculum tailored to handle the various dynamics inside such organizations. It gives students a thorough grasp of business administration and the special difficulties that family firms confront, such as succession planning, family governance, dispute resolution, and asset management. Students obtain the information and abilities needed to handle difficult family connections and efficiently run their businesses with a long-term vision by digging into these specialist areas.
Online MBA programs in family business give students practical skills and techniques they can immediately apply in their family businesses. Participants may examine and apply business principles to their situations using case studies, real-world scenarios, and interactive learning platforms. This hands-on approach bridges the gap between theory and practice, encouraging critical thinking, problem-solving ability, and imaginative decision-making—all necessary for long-term development and success in family-owned businesses.
Obtaining an online MBA in Family-Managed Business provides you with the ability to network with others confronting similar issues. A robust community of students, alumni, and industry professionals is formed through collaborative online platforms, discussion forums, and virtual networking events. Engaging experts from different backgrounds and experiences allows for sharing ideas, best practices, and prospective partnerships.
Why Online MBA in Family-Managed Business?
An online MBA program in family-managed business is delivered in online style providing exceptional flexibility, allowing students to manage career and personal responsibilities while pursuing their education. Individuals may study at their speed from anywhere globally, as course materials and lectures are available 24 hours a day, seven days a week. This flexibility is especially beneficial for people currently active in the day-to-day operations of family companies, as it allows them to use their acquired knowledge in real time without disturbing business operations.
Geographic restrictions are no longer hindering family-owned enterprises. Pursuing an online MBA in Family-Managed Business exposes students to a wide range of viewpoints, global trends, and best practices worldwide. This experience assists employees in understanding diverse corporate cultures, adapting to developing market trends, and gaining a competitive advantage.
Who Should Pursue an Online MBA in Family-Managed Business?
Graduates and even professionals who are willing to join their family businesses are the perfect applicants for this online MBA major in family-managed business. This online master’s program helps you nurture and preserve your family legacy and makes you turn it into a sustainable business.
When to do an Online MBA in Family-Managed Business?
Well, the moment you realize that you need to advance your understanding of business to take your family business to new heights, you can enroll in an online MBA program specialized in family-managed business. This program comes without any age barrier and due to its flexible schedule, it does not demand a full-time commitment from its learners. Thus, you can pursue this program and practice the learned applications at the same time in your workplace.
Key Highlights of Online MBA in Family-Managed Business In India
The online MBA in Family-Managed Business has several significant features that distinguish it and make it a desirable curriculum for anyone participating in or wanting to run family companies. The following are the program's main highlights:
- The program's curriculum is designed to meet family-owned businesses' unique difficulties and dynamics.
- The program provides students with affordable payments and various payment schedules, making it financially reasonable.
- Students can participate in sessions with successful entrepreneurs, obtaining essential insights and motivation for their family companies.
- Eligible firms launched by program participants can access significant financial opportunities of up to 10 Cr (100 million rupees) to fuel their entrepreneurial enterprises.
- 180+ new businesses Incubated: Over 180 start-ups have been successfully incubated and grown as a result of the program, which provides a supporting ecosystem for budding entrepreneurs within family companies.
- Students acquire hands-on experience assessing and addressing difficult challenges encountered by family companies through case studies, simulations, and interactive learning platforms.
- Experienced faculty members with expertise in business administration and family business management teach the online MBA in Family-Managed Businesses.
- The program instructors bring a wealth of real-world expertise and knowledge to the virtual classroom, offering students useful insights, best practices, and assistance.
- Online discussion forums, collaborative projects, and virtual networking events provide a lively community where students can share ideas, exchange experiences, and develop professional connections.
- The program's online approach offers students flexibility and convenience. They may access course materials, lectures, and assignments at their leisure and from anywhere on the planet.
- The program provides a global view of family business management. It introduces students to global best practices, emerging trends, and case studies.
- The online MBA in Family-Managed Business focuses on long-term company sustainability and family legacy preservation. It teaches students how to handle family dynamics and succession plans and implement effective governance systems.
- The curriculum equips students to manage their family companies effectively into the future by stressing strategic thinking, innovation, and ethical practices.
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Online MBA in Family-Managed Business Course Subjects/Syllabus
Students enrolled in the Online MBA in Family-Managed Business will obtain in-depth knowledge and abilities in various disciplines vital to effectively managing and leading family enterprises. The following are some of the major subjects addressed in the program:
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Family Business Governance |
Family Business Ethics and Social Responsibility |
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Strategic Management |
Conflict Resolution and Relationship Management |
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Family Wealth Management |
Entrepreneurship and Innovation |
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Leadership and Organizational Behavior |
Financial Management |
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Succession Planning |
Global Perspectives on Family Business |
Top Specializations of Online MBA
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Online MBA in Family-Managed Business Eligibility & Duration
The prerequisites for an Online MBA in Family-Managed Business may differ based on the program and school. However, the following are some common qualifying criteria that students must normally meet:
- Applicants are typically expected to hold a bachelor's degree or equivalent from a recognized institution. The degree can be in any subject. However, certain programs may prefer applicants with business or similar backgrounds.
- Many online MBA programs prefer candidates with relevant job experience, notably those in family-owned businesses. The required job experience varies, but it usually spans two to five years of professional experience.
- The candidate must submit a statement of purpose explaining why they want to pursue the online MBA in Family-Managed Business.
- Proof of English language competency is frequently requested for overseas candidates whose first language is not English. Standardized examinations, such as the TOEFL (Test of English as a Foreign Language) or IELTS (International English Language Testing System), can indicate this.
It's crucial to remember that eligibility requirements differ from school to program, so it's best to check the official website or admissions office for the most up-to-date information on eligibility criteria and application procedures.
Online MBA in Family-Managed Business Duration
An Online MBA in Family-Managed Business normally takes 2 years to complete. However, based on the precise program structure, course load, and the student's pace of study, the actual period may vary.
Many online MBA programs, like traditional on-campus programs, use a semester-based schedule. Each semester normally lasts 24 weeks, and students take a set number of courses every semester. Some programs may provide expedited alternatives or allow students to take additional courses to finish the degree sooner.
The overall number of credits required to finish the program also impacts the length. More credits may be required if a program includes specialties or elective courses. Students can complete the program at their own speed. One of the benefits of online MBA programs is their flexibility, allowing students to combine their education with personal obligations.
Skills Required for Online MBA in Family-Managed Business
To make the best out of your online MBA program in a family-managed business, you must possess some key skills of:
- Managing family business and business family without any major conflicts. This will help you prosper your business and retain responsible professionals with you.
- Maintaining a healthy balance between stakeholders from diversified backgrounds.
- Developing leadership skills to get a stronghold of the executive teams of your firm.
- Maintaining transparency between family and non-family employees to gain the trust of the employees working in the firm.
- A good command over communication skills both verbal and non-verbal will help you establish a clear message about your vision for the firm.
Is an Entrance Exam Conducted For an Online MBA in Family-Managed Business?
This is a list of popular admission entrance exams that are accepted for on-campus MBA programs in India. You are not required to try any of them to receive an online MBA, though.
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CAT (Common Admission Test) |
GMAT (Graduate Management Admission Test) |
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SNAP (Symbiosis National Aptitude Test) |
PGCET (Postgraduate Common Entrance Test) |
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KMAT (Karnataka Management Aptitude Test) |
ATMA (AIMS Test for Management Admission) |
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CMAT (Common Management Admission Test) |
TANCET (Tamil Nadu Common Entrance Test) |
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MAT (Management Aptitude Test) |
XAT (Xavier Aptitude Test) |
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NMAT (NMIMS Management Aptitude Test) |
MAH CET (Maharashtra Common Entrance Test) |
Recommended Books
To improve your management skills for a family business, you should read some of the recommended books listed below in addition to the ones you are required to read for your course.
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Book Title |
Author |
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Generation to Generation: Life Cycles of the Family Business |
Kelin E. Gersick |
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Perpetuating the Family Business: 50 Lessons Learned From Long Lasting, Successful Families in Business |
John L. Ward |
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The Harvard Business Review Family Business Handbook |
Josh Baron |
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Dare to Lead |
Brene Brown |
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The Personal MBA |
Josh Kaufman |
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Grit: The Power of Passion and Perseverance |
Angela Duckworth |
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Keep the Family Baggage Out of the Family Business |
Quentin J Fleming |
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Borrowed From Your Grandchildren: The Evolution of 100-Year Family Enterprises |
Dennis T. Jaffe |
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The Business of Family |
Linda Davis Taylor |
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Entrepreneurs in Every Generation |
Allen Cohen and Pramodita Sharma |
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Program Fees for Online MBA in Family-Managed Business
Starting at ₹ 6,776/month
Program Fee: ₹1,00,000 - ₹1,00,000
Low Cost EMI Available
Recommended
The program fee of this online MBA program costs around 30,000 to 50,000 INR per semester. This makes the total cost for 4 semesters or 2 years to be 1,20,000 to 2,00,000 INR. This range varies with your choice of institution and thus, can only be confirmed after deciding upon it first.
Online MBA in Family-Managed Business Admission Procedure
The following steps are included in the admission process for an Online MBA in a Family-Managed Business:
Step 1: Conduct extensive research on numerous online MBA programs in Family-Managed Businesses to identify those that correspond with your objectives.
Step 2: Fill out the application form supplied by the university offering the online MBA program. Include biographical information, educational background, job experience, and other program needs.
Step 3: Official transcripts from all prior educational institutions, containing data on courses completed, grades received, and the awarding institution, must be submitted.
Step 4: Arrange for letters of recommendation from people who can speak to your academic ability, career achievements, and prospects for success in the program and create a personal statement or statement of purpose detailing your motivations for pursuing the online MBA in Family-Managed Business.
Step 5: Determine whether the program requires results from standardized entry examinations such as the GMAT or GRE. For applicants with considerable job experience, certain programs may eliminate this criterion.
Step 6: If you are chosen, you may be asked to participate in an interview to examine your communication skills, motives, and fit with the program.
Step 7: Pay the application fee to support the administrative costs of processing your application.
Step 8: The admissions committee considers each candidate and makes an admission decision after considering all application papers. Successful candidates are offered admission, while unsuccessful applicants may be placed on a waiting list or rejected.
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Other Specializations for Online MBA in 2024
Education Loan/EMI Facilities for Online MBA in Family-Managed Business
Depositing 1.5 to 2 Lakhs INR for an online MBA program in family-managed business might be difficult for everyone. The facility of education loans makes you pay for it in easy installments. This choice of EMI payments even makes many applicants consider this option for upskilling their knowledge of business and management.
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Is Online MBA in Family-Managed Business Worth it?
One of the finest employment possibilities is an online MBA program in family-managed business, which combines specialized knowledge needed to run a corporation with fundamental management skills. It equips students with a broad variety of abilities necessary for success in the quick-paced business field. Because to the flexibility of the online method, working individuals may easily incorporate education into their busy schedules.
By placing a strong emphasis on real-world case studies, theoretical knowledge is applied in practice, enhancing the problem-solving abilities required to launch a long-lasting company. One of the best ways to find out about new trends in business is to network and meet with industry professionals. The curriculum is a smart choice because of its emphasis on innovation, worldview, and accessibility to education.
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Job Opportunity after Online MBA in Family-Managed Business
Individuals who get an Online MBA in Family-Managed Business have access to many intriguing job opportunities. Graduates are well-positioned to tackle the problems and dynamics inherent in family-owned firms, thanks to their specialized knowledge and abilities in family business management.
This comprehensive curriculum gives students a thorough grasp of family company strategic decision-making, succession planning, governance frameworks, and operational management. The employment prospects for Online MBA graduates in Family-Managed Businesses go beyond their family businesses; some are mentioned below:
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Family Business Management |
Entrepreneurship and Start-ups |
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Consulting |
Business Development and Strategy |
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Wealth Management |
Corporate Management |
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Education and Research |
Non-Profit and Philanthropy |
Top Recruiters for Online MBA in Family-Managed Business
Every business need a successor, whether from its family or non-family employees. Completing an online MBA in family-managed business will make you eligible for not only running your family business but also joining one and lead to a successive path. Top organizations also hire MBA grads of this specialization because of their innovative approach towards business.
Our students work at
Accenture
Amazon
American Express
Berger
Bosch
Byjus
Capgemini
HDFC Bank
Infoedge
KPMG
Genpact
Let's clear up some doubts about Online MBA in Family-Managed Business
Absolutely! A standard on-campus MBA has the same value and recognition as an online MBA in Family-Managed Business. Accredited online programs provide the same rigorous curriculum, faculty experience, and networking opportunities as traditional programs, helping students to obtain the information and skills they need to flourish in their employment.
You certainly can! While experience in a family business might give a unique perspective, pursuing an Online MBA in Family-Managed Business is not required. The curriculum is meant to offer students a thorough grasp of family business dynamics and management concepts, allowing them to use their knowledge in various professional settings.
Graduates of an Online MBA in Family-Managed Business have several job options. They can work in family companies, take on leadership roles, start enterprises, work in consulting firms specialising in family business counseling, or pursue careers in corporate management, wealth management, and strategic planning.
An Online MBA in Family-Managed Business focuses on family-owned businesses' special difficulties and dynamics. The curriculum addresses succession planning, governance, family dynamics, and strategic decision-making within family enterprises. On the other hand, a regular MBA program offers a broader overview of business administration without a focus on family company management.
Yes, many online MBA programs are tailored to fit working people's schedules. Online learning allows you to study independently and access course materials from anywhere. However, you must examine the program's burden and ensure enough time for work and education.
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