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BBA in Family Business at GITAM (Gandhi Institute of Technology and Management)
Visakhapatnam, Andhra Pradesh
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About the Specialization
What is Family Business at GITAM (Gandhi Institute of Technology and Management) Visakhapatnam?
This Family Business program at GITAM focuses on equipping students with the unique skills needed to manage, sustain, and grow family-owned enterprises, which form the backbone of the Indian economy. It delves into entrepreneurial dynamics, governance, and succession planning within a familial context, crucial for India''''s diverse business landscape.
Who Should Apply?
This program is ideal for young heirs/heiresses of family businesses seeking formal training to lead their ventures, aspiring entrepreneurs who wish to understand the nuances of family-run firms, and fresh graduates aiming for management roles in such companies. A foundational interest in business and entrepreneurship is a prerequisite.
Why Choose This Course?
Graduates can expect to join their family businesses in leadership roles, drive innovation, and manage transitions effectively. They can also pursue careers in consulting for family firms or establish their own ventures. The program enhances skills vital for long-term growth and contributes to the professionalization of Indian family enterprises.
Student Success Practices
Foundation Stage
Develop Strong Business Fundamentals- (Semester 1-2)
Focus on thoroughly understanding core subjects like accounting, economics, and management principles. Join study groups and use online resources to solidify conceptual knowledge.
Tools & Resources
NPTEL courses, Khan Academy for basics, GITAM''''s library resources, Peer study groups
Career Connection
A solid foundation is crucial for making informed business decisions, essential for future managerial roles in a family business.
Cultivate Networking and Communication Skills- (Semester 1-2)
Actively participate in campus clubs, debates, and public speaking events to enhance interpersonal and presentation skills. Attend guest lectures by industry leaders to expand your network.
Tools & Resources
Toastmasters International clubs (if available), LinkedIn for professional networking, GITAM''''s career services workshops
Career Connection
Effective communication and networking are vital for building relationships with stakeholders, crucial in family and entrepreneurial environments.
Explore Entrepreneurial Mindset Early- (Semester 1-2)
Engage with the startup ecosystem at GITAM, participate in ideation challenges, and read extensively about Indian entrepreneurs and successful family business stories.
Tools & Resources
GITAM''''s Innovation & Incubation Centre (GIIC), Startup events in Visakhapatnam, Books like ''''Stay Hungry Stay Foolish''''
Career Connection
This helps in identifying opportunities and developing the problem-solving approach needed to innovate within or start a family business.
Intermediate Stage
Gain Practical Exposure through Internships- (Summer after Semester 4, or during Semester 5)
Seek summer internships, ideally within family-owned businesses or small to medium enterprises (SMEs), to apply theoretical knowledge and understand operational challenges.
Tools & Resources
GITAM''''s placement cell, Internshala, LinkedIn, Family connections
Career Connection
Hands-on experience is invaluable for developing industry-specific skills and preparing for real-world responsibilities in a family business setting.
Specialize in Family Business Dynamics- (Semester 4-5)
Deep dive into courses like Entrepreneurship and Family Business. Research case studies of Indian family businesses, their challenges, and growth strategies.
Tools & Resources
Harvard Business Review case studies, NPTEL courses on entrepreneurship, Business journals
Career Connection
This specialized knowledge directly prepares students for the unique governance, succession, and growth aspects of family enterprises.
Develop Data-Driven Decision Making- (Semester 3-5)
Focus on developing strong analytical skills through courses like Business Statistics and Business Research Methods. Use data analysis tools to solve business problems.
Tools & Resources
Microsoft Excel, R/Python for basic analytics, Online courses on business intelligence
Career Connection
Data-driven insights are critical for strategic planning, resource allocation, and ensuring sustainable growth in any modern business, especially family businesses looking to professionalize.
Advanced Stage
Master Strategic Planning and Implementation- (Semester 6)
Apply concepts from Strategic Management and Project Management to develop comprehensive business plans for existing or new ventures, focusing on sustainability and scalability.
Tools & Resources
Business plan templates, SWOT analysis tools, Mentorship from faculty
Career Connection
Essential for leading the strategic direction and growth initiatives of a family business or starting a new venture.
Prepare for Leadership and Succession- (Semester 6)
Engage in leadership roles within student organizations, work on the final project/dissertation with a focus on family business challenges, and seek guidance on career pathing.
Tools & Resources
Leadership workshops, GITAM alumni network, Industry mentors
Career Connection
Directly prepares students for assuming leadership roles, understanding governance, and managing succession within their family businesses or other organizations.
Optimize Placement and Career Launch- (Semester 6 (pre-placement and placement period))
Actively participate in placement preparatory activities, mock interviews, and resume building workshops. Leverage the summer internship experience and project work to showcase practical skills.
Tools & Resources
GITAM''''s career services, Online job portals, Professional networking events
Career Connection
Secures successful entry into the desired career path, whether joining a family business, a corporate role, or starting an entrepreneurial venture.
