MBA Family Business Management Course, Admission 2023

MBA Family Business Management Is a 2 year postgraduate course with a unique curriculum catering knowledge about the management and owning a family business successfully. It is made in a way that provides an insight about providing some expertise in assisting a family business.

Note: Students who wish to pursue their education in Management field or get a career boost, can check MBA course.

The minimum eligibility criteria for admissions in this course are a degree of BBA, B.Com, B.tech or B.Sc. from a recognized university with minimum aggregate marks of 50%.

The list of colleges which are ranked best among the list for MBA Family Business

Management is as follows:-

Name of Institute	Location	Admission Procedure	Average Fees
SIBM	Bangalore	Entrance Examination	INR 6.95 Lacs
Institute of Management, Nirma University (IMNU Ahmedabad)	Ahmedabad	Entrance Examination	INR 3.8 lacs
Indian School of Business	Hyderabad	Entrance Examination	INR 20 lacs
Indian Institute of Management	Bangalore	Entrance Examination	INR 2.8 lacs
S. P. Jain Institute of Management and Research	Mumbai	Entrance Examination	INR 6.45 lacs

Candidates with good communication skills and passion for running a family business can choose this course and can get admission by passing the valid entrance examination like CAT/ NMAT/ MAT/ GMAT/ XAT etc.

Checkout: Top Colleges offering MBA Family Business Management in India

MBA Family Business Management average course fee ranges from INR 1,00,000/- to INR 15,00,000/- per annum for MBA Family Business Management. Graduates of this course can bag an initial high package ranging from INR 12,00,000/- to INR 16,00,000/- in any leading MNC. Check MBA Full Form

The course MBA Family Business Management helps in understanding the competition dynamics and gets familiarized with the organizational change in terms of globalization, privatization, and liberalization etc.

It develops an entrepreneurial skill in the candidate and hence opening an opportunity to start and run an entrepreneurial venture successfully.

MBA Admissions 2023	MBA Distance Education	MBA Online

Candidates after completing MBA Family business management can work as a business administrator, assistant manager, accounts manager etc. With more managerial skills, they can also successfully run a family business after completing MBA.

What is the MBA Family Business Management Admission Process?

MBA Family Business Management is a postgraduate course in which admissions are granted only on the basis of entrance examination and no merit based admissions are possible.

Below are the steps which need to be followed for getting admission in MBA Family Business Management:-

Examination registration: Visit the official portal of central level examination and fill all the details including name, email address, password, etc.
Download Admit card: Once the admit card is released, download the admit card for examination.
Appear for the examination: - On the entrance examination day, appear for the entrance examination. After passing the cut off marks, apply for the preferred college.
Register: - Fill up the form by mentioning important details, entrance examination marks and attaching the documents in the college registration form.
Merit list: - As per the candidates entrance examination marks, a merit list is formed by every college and a cut off is decided for candidates.
Counseling procedure: - After getting qualified on the basis of entrance examination marks, candidates need to appear for a group discussion and personal interview round for the final selection.

Admissions are solely done on the basis of aggregate marks scored by the candidates in the entrance examination and counseling round.

MBA GD Topics	One Year MBA	MBA without Entrance Exams

What is the MBA Family Business Management Eligibility Criteria?

Candidates passing the following eligibility criteria can register for admission in PhD hospitality:-

Candidates should have a 10+2 examination certificate with aggregate marks of at least 85% from a recognized board.
The graduation of the candidate should be in the following courses:- BBA, Bcom, Btech and BSc from a recognized university
Candidates should have aggregate marks of 50% in the graduation degree.
Candidates with minimum 2 years of work experience are preferred.

Readmore: MBA Admission Process 2023

What are the MBA Family Business Management Entrance Examinations?

MBA Family Business Management admissions are granted on the basis of central level examinations like CAT/ XAT/ CMAT/ GMAT among many others. The examination question paper is divided into various sections with reading passage section; aptitude based reasoning sections, mathematical based questions, and even language evaluation.

Here is detailed information about the entrance examination which are applicable for MBA Family Business Management

Exam Name	Exam Details
CAT	Check Here
MAT	Check Here
SNAP	Check Here
IIFT	Check Here
IBSAT	Check Here
CMAT	Check Here
MAH CET	Check Here
NMAT	Check Here
ATMA	Check Here
XAT	Check Here
TISSNET	Check Here
TANCET	Check Here

How to prepare for MBA Family Business Management Entrance Examinations?

All the entrance examinations which are being considered for admissions in MBA Family Business Management are similar and follow an objective evaluation based upon the aptitude, reasoning, mathematics and language evaluation.

Here are certain tips and tricks which need to be taken care of while preparing for entrance examination:-

Know your capabilities and judge yourself as per the examination pattern followed for MBA Family Business Management.
Make your managerial subjects strong including business laws, entrepreneurial management, marketing management etc.
Practice passage based questions, aptitude questions and reasoning based questions regularly for improving the time management.
Divide all the sections properly to complete the syllabus on time and study each topic thoroughly.
Build a strong command on the data interpretation and language section with regular practice.
Solve mock papers regularly and check your improvement to keep an update about the necessary topics which are required to be prepared.

CAT Practice Papers, Mock Test Papers 2023	XAT Exam Pattern, Syllabus 2023

How to get into a good MBA Family Business Management College?

Below are some points which should be considered for getting admissions in a good MBA Actuarial college:

Prepare well for the entrance examination to get a good score for reserving a seat in a reputed MBA Family Business Management college.
Practice for the group discussion and interview round with a fluency on language and knowledge base.
The colleges need to be selected as per the preference. Know all the requisites of the desired college to get admission in that particular college.
Keep your research thesis and work experience handy for scoring good marks in the collected entrance examination and counseling round.
Do track the important dates like registration date and counseling date and follow them positively.

What is MBA Family Business Management about?

MBA Family Business Management is a unique course and can be described by following points:-

MBA Family business management is a postgraduate course that throws some importance on the family businesses and how they can be improved in the business sector.
It imparts the students various skills to enable them for entrepreneurial ventures and how the innovative changes happening in the business industry can be implemented in their venture.
It facilitates the globalization, liberalization and privatization of the firm.
Candidates after completing their graduation with minimum 55% aggregate mark can pursue this course after clearing the entrance examination.
The course is mostly opted after completing a B.Sc./B.com degree to focus on a certain area and to gain specialized knowledge of the subject.
It open door for students either to start a new entrepreneurship venture or successfully running a family business

Find out: Job Offers, Placement, Job Abroad after MBA Course

MBA Family Business ManagementCourse Highlights

Course Level	Post graduation
Full-Form	Masters of business administration in Family Business Management
Duration	2 years
Examination type	Semester Examination
Eligibility	Graduation degree of BBA, Bcom, Btech and BSc from a recognized university
Admission Process	Entrance Examination + Counseling
Course Fee	INR 1,00,000 to INR 15,00,000/-
Average Salary	INR 12,00,000 to INR 16,00,000/-
Job Positions	Entrepreneur, Business Administrator, Accounts Manager, Assistant Manager, etc.

Why study MBA Family Business Management?

MBA Family Business Management can help in fostering and encouraging the entrepreneurial spirit of young minds so that they develop best practices for family business management.
It guides candidates to explore the many facets of business continuity, plan the succession of business, opportunity, failure and risk analysis, taxes and finances.
It prepares candidates to strike a balance between theoretical and practical knowledge
It enables students to pursue new avenues for applying the skills thus learnt.
MBA Family Business Management acts as a springboard to those already at executive or managerial positions to plunge into family business. Whether the business is big or small, the students are taught to manage it efficiently.

College Name	Location	Average Fees	Average Salary Package
Sona School of Management	Salem	INR 41,000	5 LPA
Sandip Institute of Technology and Research	Nashik	INR 150,00	3.5 LPA
Galgotia University of Business	Greater Noida	INR 159,000	6 LPA
Royal Global University	Guwahati	INR 247,000	5.2 LPA
Dr. DY Patil Institute of Management and Research	Pune	INR 130,000	8 LPA
Amity University	Mumbai	INR 515,000	6.8 LPA
Shri RamSwaroop Memorial Institute	Lucknow	INR 132,000	6 LPA
Parul University	Vadodara	INR 90,000	4.8 LPA
University of Technology	Jaipur	INR 90,000	3.8 LPA
Institute of Business Management and Research	Pune	INR 80,000	5.2 LPA

Semester I	Semester II
Family Business Management	Innovation and Creativity
Dynamics of family business governance	Social Entrepreneurship
Business Plan Preparation	Technology innovation and sustainable enterprise
Small Business Promotion	Business Plan and Ethics
Entrepreneurial Finance	Mergers and Acquisitions
Semester III	Semester IV
Sickness and turnaround strategies	Organizational Behavior
Business Regulations	Managing Human Resource
Corporate Governance and Social Responsibility	Finance Management
Finance and tax strategies for family business	New Product Development
Cost and Management Accounting	Enterprise Resource Building

What are the MBA Family Management Business Important Books?

Important books which can be used for reference in the course MBA Family Business Management are:

Name of the Book	Author
Take Charge of Your Family Business	S A Krishnan
Business Organization and Management	Dr. Asthana, Dr. Sahal
Business and Form of Organization	S. C. Gupta and V. K. Kapoor
Macroeconomic Theory and Policy.	William H Branson
Mathematical Statistics	J.E.Freund

What is the MBA Family Business Management Jobs Prospects and Career Options?

After completing MBA Family Business Management, one can easily manage and take their family enterprise to a different level by implying to the skills. Moreover, the course curriculum teaches the basics of managerial and administration part of a business enhances the entrepreneurial skills in a student, making them start a new business venture successfully.

Apart from it, they can also work as a business administrator and accounts manager in any MNC or organization.

Below are some of the job positions which can be taken after completing MBA Family Business Management

Job Position	Job Description	Average Annual Salary in INR
Entrepreneur	Entrepreneur formulates policies that directly benefit the firm, managing and supervising daily operations of the firm, and planning effective use of materials and human resources.	10-18 LPA
Business Administrator	Business Administrators handle the operational, organizational, and managerial responsibilities of the company they work under. The Business Administrator is also known as the CEO/ General Manager/ Operations Manager.	12-16 LPA
Accounts Manager	He or She is responsible for managing a number of accounts pertaining to a company. They work to achieve high sales targets and oversee the work of Account Executives.	6-8 LPA
Relationship Manager	A Relationship Manager is responsible for the overall relationship of the company in terms of business and finance.	4-6 LPA
Management Consultant	A Management Consultant usually provides insights and guides in the process of managing business and taking it forward.	5-8 LPA

What is the MBA Family Business Management Future Scope?

Some of the future prospects available after completing the course of MBA Family Business Management are:-

Students with MBA Family Business Management can work as accounts manager, business administrator or finance manager in any leading MNC
Students who want to pursue further studies can opt for PhD in the same field. PhD in the same course will brush up the knowledge of a student and will develop a more research thinking.
After MBA Family Business Management, students can also work as a lecturer or assistant professor in any academic institute or educational hub by appearing for NET.
Someone willing to start a new business venture can opt for it or they can continue to run their family business successfully.

MBA Family Business Management FAQs

Ques. Which colleges in India offer MBA Family Business Management?

Ans. Top management colleges which offer MBA Family Business Management in India are IIM, ISB, Amity University etc.

Ques. Can a commerce student do MBA Family Business Management?

Ans. Yes, a commerce student is eligible to pursue MBA Family Business Management. The major eligibility criterion is that the candidate should hold a graduation degree with at least 50% minimum marks.

Ques. What is the salary of a business administrator after MBA in FBM in India?

Ans. MBA Family Business Management gives a head start for a fresher. Anyone with MBA Family Business Management can earn upto INR 8,00,000 to INR 15,00,000 per annum as a fresher. After some experience, an actuary earns as much as INR 20,00,000 to 25,00,000.

Ques. What type of subjects does MBA Family Business Management involve?

Ans. Subjects like Entrepreneurial skills, Business Management, business laws, marketing management etc. are taught in MBA Family business Management

Ques. What is the demand of students after completing MBA (Family Business Management)?

Ans. In India, expected job prospects will probably go as high as 20% in the next 10 years. The demand of a manager is high both in India and abroad. Salary packages offered to a person with MBA Family Business Management is also good.

Ques. What are Family Business Management entrance exams composed of?

Ans. The entrance exam is patterned with QMR format. The questions are composed of basic mathematics, aptitude and reasoning questions.

Ques. How to prepare for the entrance exam of MBA (Family Business Management)?

Ans. The entrance exam for MBA Family Business Management is not very tough. A person with a managerial background will find it easy to crack. Moreover, the key idea is to study smartly and practice aptitude based questions for getting through the entrance exam.

Ques. In which sectors a person with MBA Family Business Management can work?

Ans. A person with a degree of MBA Family Business Management can work in the sectors of Banking, Finance, Telecom, Events, Sports, Branding & Advertising, Digital Marketing, Foreign Trade, Human Resource Management, Marketing, etc.

Ques. Is it compulsory to have a commerce background to study MBA (Family Business Management) ?

Ans. No, it is not compulsory to have a commerce background for pursuing MBA Family Business Management. Any candidate with graduation can enter into this course.

Ques. What is the fee in MBA Family Business Management?

Ans. The fee structure for the course of MBA Family Business Management varies as per the college. However, the average fee of the course MBA Family Business Management is INR 1,00,000 to 15,00,000.