NEW DELHI: The Indian Institute of Management (IIM) Lucknow has introduced a two-year MBA programme in Family Business for business owners and the next generation of family business leaders. The programme is set to begin in July 2027.
Applications will be accepted in two phases. The last date to apply for Phase 1 is December 31, 2026, while Phase 2 applications will close on April 2, 2027.
The course aims to help participants manage their family businesses, plan for leadership changes and find ways to grow their enterprises.
It will combine classroom learning with practical work related to their own businesses.
The programme will cover business management, leadership, succession planning, growth strategies and investment.
Participants will prepare a five-to-10-year Business Transformation and Growth Plan for their family businesses.
Family Business Labs
The programme will include six Family Business Labs across six trimesters, focusing on understanding business challenges, setting goals, planning leadership transitions and exploring new growth opportunities.
Participants may get opportunities to visit family-run businesses abroad and take part in global immersion programmes, case studies and business simulations.
Some workshops will include parents, siblings and senior family members to discuss succession planning and how family businesses are managed.
Eligibility criteria
Academic qualification: A bachelor’s degree or an equivalent professional qualification, such as CA, CS or CMA.
Minimum marks: At least 50% marks or an equivalent CGPA in Class 10, Class 12 and graduation.
Family business: Applicants must be owners or members of the next generation of a family business. The business must have an annual investment or turnover of at least Rs 20 crore.
Entrance exam: A valid GMAT or GRE score, or a score from the IIM Lucknow entrance examination, is required.
Candidates who meet the requirements may be shortlisted for a personal interview. The interview will focus on their involvement in the family business, leadership plans and how they intend to use the knowledge gained through the programme.
Course format
The MBA will follow a modular, on-campus format at IIM Lucknow’s Noida campus. Participants will attend classes for around seven days every month.
The programme will have six trimesters and approximately 20 months of study. It will include 33.5 academic credits, of which five will be audit credits. Each credit represents 30 hours of learning.
The curriculum will also cover family business governance, leadership, succession, generational transitions, regulatory requirements and investment in new ventures.
For more details about the course, click here.
“As of now, not many institutes run this course in the country. Currently, IIM-Bangalore offers Management Programme for Entrepreneurs and Family Businesses (MPEFB), IIM-Sirmaur offers MBA in Family Managed Businesses, IIM-Indore’s PG certificate course in Family Business Management and Entrepreneurship and a few others,” said a professor who is preparing the roadmap for the programme.