Online MBA In Family Managed Business

The MBA family-managed business program is created to equip family business owners with the leadership skills to supplement their technical knowledge and improve their business base. An MBA in family business management provides the well-rounded skills and knowledge to start new firms and expand already-existing family businesses. Even though many of the enterprises are operated by families, only a few of them are organised. Graduates with an MBA in Family Business can create a structured organisation. The MBA in Family Business Management is the right course for all facets of modern business that has been mandated. It equips future corporate leaders to succeed by conquering all obstacles.

Key Features of Online MBA in family-managed business

• The delivery of the course and the tests are focused on actual situations and applications that will help students make the most of opportunities, develop strategies, and increase productivity.
• The programme provides a comprehensive grasp of the disciplines necessary for today's family businesses to maintain competitiveness, expand, and experience long-term success.
• People's knowledge of the most cutting-edge and effective business practices is improved by taking this course, which also encourages innovation.
• This degree teaches students the entrepreneurial skills to establish a new family enterprise.
• The programme has been created to aid budding and forward-thinking business owners in adapting to such developments and remain competitive. They actively participate in the organisation's efforts to promote the firm's liberalisation, globalisation, and privatisation.
• The high package for graduates of this course ranges from INR 12,00,000 to INR 16,00,000.

Subjects/Syllabus

Since MBA graduates are taught business management, planning, and even financial handling, any graduate can become an entrepreneur. As a result, the MBA curriculum will help you manage your firm and increase your contribution to the national GDP. For a more comprehensive perspective, the programme includes elements of new venture development, finance, worldwide marketing, strategy, operations, and innovation.

Application Criteria 

• A three-year bachelor's degree (10+2+3) or equivalent from an accredited university in any discipline with a minimum cumulative grade point average (CGPA) of 50%.
• Candidates in their last year of undergraduate study may also apply if they provide documentation within three months of starting the programme proving they match the basic requirements. By the time the curriculum began, they were supposed to have taken all their graduation exams. 
• Applicants have an advantage if they have at least two years of work experience.
• Candidates must have minimal communication skills to be asked to join the programme. 

Course Duration

After enrolling in the course, you have 24 months to finish the curriculum. If it takes you longer than 24 months to complete the course, you can apply for a 12-month extension by paying a course extension fee.

Admission Process

The online application form must be filled out completely and submitted along with the non-refundable admission processing fee by the applicants:

• Select the family business MBA programme you want to pursue, then register by providing your contact information and paying the registration cost.
• Please provide information about your training and employment history.
• Complete the payment for the application fee through online banking.
• To finalise the procedure, provide any necessary documents and complete the form.

The following documents must be uploaded by all candidates to be considered for admission:

1. Documentation showing you have a bachelor's degree, such as a certificate. If the documents are not in English, certified translations must be provided.

2. The bachelor's degree final TC.

3. An ID card issued by the government.

Specialisation 

Students can get a thorough understanding of particular subjects by pursuing their online MBA specialisation:

• Online MBA in Finance
• Online MBA in Healthcare
• Online MBA in Business Analytics
• Online MBA in Financial Marketing
• Online MBA in HR Analytics
• Online MBA in Digital Marketing
• Online MBA in Quality Management
• Online MBA in International Trade Management
• Online MBA in International Finance
• Online MBA in business intelligence and analytics
• Online MBA in Public Policy
• Online MBA in finance and HR
• Online MBA in forensic accounting and corporate fraud investigation
• Online MBA in Online Operations
• Online MBA in Marketing

Career Opportunities

Courses of MBA family-managed business provide a wealth of work opportunities and a respectable wage. The distinctive job profiles that candidates can choose from after completing the degree are listed below, along with job descriptions:

Entrepreneur: An entrepreneur is responsible for creating the company's policies, managing and supervising daily operations, overseeing all financial matters, etc. It makes all the business-related choices and pays all the risks, rewards, and losses on my behalf.

Financial Advisor: A financial advisor's job is to respond to inquiries from clients about economic plans and tactics. To gather the necessary data to create a financial plan, they speak with clients about their costs, revenue, insurance reach, financial goals, tax situation, risk tolerance, and other factors.

Accounts Manager: Responsible for overseeing all customer relationships, supervising account executives who work under them, and managing the company's accounts. 

Business Consultant: A business consultant's responsibility is to offer advice regarding any problem or issue. They gather the data, evaluate and analyse it, and then perform tasks on behalf of the company, following their needs.

Manager of information technology: The manager of information technology's job is to oversee, carry out, and maintain the requirements of a corporation. They guarantee the safety of the company's hardware and software.

Other Modes of Courses After Online MBA in Family Business Management

After earning your MBA in family business management in India, you can choose from several job specialisations. Here are some potential examples:

• Commercial Development
• Investment and Finance
• Positions in academia or research
• Charitable and nonprofit organisations
• Taking a Job in the Family Business
• Entrepreneurship
• Consulting

Availability of Higher Education:

Graduate students with an MBA in family business management have several options to consider that will help them comprehend the topic better. Additionally, getting additional training can help college students advance their careers and update their skill sets. Some of the better educational options available to students are listed below:

• Doctorate in Management
• Risk management assurance certification
• A Production and Inventory Management Certification
• CFA

Top Hiring Firms

1. Infosys
2. Hindustan Unilever Ltd.
3. IndusInd Bank
4. Bank HDFC
5. KPMG
6. Amazon
7. Flipkart
8. Whirlpool
9. Vodafone
10. Nokia

Top Universities 

Conclusion

The best element of an online MBA in family-managed business is helping students understand the complexities of their family businesses so they are prepared to take over. By teaching students about intricate hierarchies and systems, this degree will educate students to successfully manage the family business in the face of a constantly changing environment. 

FAQs

Will employers accept an online MBA when I apply for jobs?

Yes, governments, businesses, and institutes of higher learning recognise a UGC-accredited online MBA from a university.

How long does an online MBA programme endure?

The distance-learning MBA is a two-year qualification programme with four semesters, just like the on-campus MBA. Still, students can finish the degree in as little as 4 years at their speed.

What types of job positions are available to MBA in Family Business graduates?

Prominent career options for MBA Family Business graduates include business consultants and business reporters. Applicants may also seek a new business endeavour or their family business.

Is a BBA required before starting an MBA in family business?

All MBA programmes demand management of business expertise. Candidates require a BBA degree for an MBA in Family Business. No matter their field, candidates having a bachelor's degree may enrol in MBA in Family Business courses.

What is the typical CTC awarded to graduates with an MBA in family business in India?

The average CTC granted to premier-level MBA students is INR 16–20 LPA. According to the payscale, the average income provided after graduating from the MBA in Family Business programme is INR 7 LPA.