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BBA in Family Business Management at Jain Institute of Business Management
Ramanagara, Karnataka
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About the Specialization
What is Family Business Management at Jain Institute of Business Management Ramanagara?
This Family Business Management program at Jain Institute of Business Management, Ramanagara, Karnataka, focuses on equipping students with the unique skills needed to manage, sustain, and grow family-owned enterprises in India. It delves into the specific challenges and opportunities faced by these businesses, covering aspects from succession planning to professionalization. The curriculum typically aims to prepare the next generation of leaders for their ancestral ventures, fostering both traditional values and modern business acumen, crucial for India''''s diverse business landscape.
Who Should Apply?
This program is ideal for young individuals from business families who aspire to join or lead their family enterprise, bringing fresh perspectives and professional management practices. It also caters to aspiring entrepreneurs interested in understanding the dynamics of inherited businesses or professionals seeking to consult for family-run organizations. Graduates looking to contribute to the growth and modernization of traditional Indian businesses, often found in MSMEs, will find this specialization highly relevant.
Why Choose This Course?
Graduates of this program can expect to assume key leadership roles within their family businesses or contribute as specialized consultants to other family-owned entities in India. Career paths include managing specific departments, leading expansion projects, or steering digital transformation initiatives. Entry-level salaries can range from INR 3-6 lakhs, increasing significantly with experience and the scale of the business. The program aims to foster skills essential for long-term sustainability and wealth creation in an Indian context.
Student Success Practices
Foundation Stage
Immerse in Core Business Fundamentals- (Semester 1-2)
Focus intensely on foundational subjects like accounting, economics, and management principles. These build the bedrock for understanding complex business operations. Engage actively in case studies and group discussions to apply theoretical knowledge to practical scenarios.
Tools & Resources
Coursera for supplementary courses, Economic Times, Business Standard, Academic clubs for peer learning
Career Connection
A strong foundation ensures a holistic understanding of business, crucial for effective decision-making in any family enterprise role, enhancing versatility.
Shadow and Observe Family Business Operations- (Semester 1-2)
Spend non-academic hours observing your own or a known family business. Understand day-to-day operations, decision-making processes, and different departmental functions. Document observations and questions for discussion with mentors.
Tools & Resources
Personal observation journal, Informal interviews with family business members, LinkedIn for industry insights
Career Connection
Provides invaluable real-world context to classroom learning, helping identify future areas of contribution and potential challenges within a family business.
Develop Basic Communication and Presentation Skills- (Semester 1-2)
Participate in public speaking events, debate clubs, and workshops to hone communication and presentation abilities. Effective communication is vital for managing stakeholders within a family business and dealing with external partners.
Tools & Resources
Toastmasters International, College debate societies, Online tutorials for presentation tools like Canva or PowerPoint
Career Connection
Strong communication skills are essential for convincing stakeholders, leading teams, and representing the family business professionally, fostering trust and clarity.
Intermediate Stage
Undertake Short-Term Internships in Family Businesses- (Semester 3-4)
Seek out structured internships, preferably outside your own family business initially, to gain diverse exposure to different family business models and management styles. Focus on specific functions like marketing, finance, or operations.
Tools & Resources
College placement cell, Internshala.com, Company websites, Networking through family contacts
Career Connection
Practical experience in diverse settings helps in understanding best practices and adapting them to one''''s own family business, enhancing employability and strategic thinking.
Engage in Entrepreneurial Competitions and Projects- (Semester 4-5)
Actively participate in business plan competitions, startup weekends, and college-led entrepreneurial projects. This fosters innovative thinking, problem-solving, and resilience – key traits for family business leaders.
Tools & Resources
E-Cell (Entrepreneurship Cell) of the college, Local startup incubators, Industry associations for mentorship
Career Connection
Develops an entrepreneurial mindset crucial for identifying new growth avenues and diversifying family business operations, preparing for future innovation.
Build a Network with Family Business Leaders- (Semester 3-5)
Attend industry seminars, workshops, and networking events focused on family businesses. Connect with successful family entrepreneurs and professionals. Learn from their experiences and insights into navigating unique challenges.
Tools & Resources
LinkedIn, Industry associations like FICCI, CII, Local Chambers of Commerce, Alumni networks
Career Connection
Offers mentorship opportunities, potential partnerships, and a deeper understanding of the family business ecosystem, vital for future collaborations and strategic alliances.
Advanced Stage
Initiate a Capstone Project Focused on Family Business- (Semester 6-7)
Undertake a comprehensive project on a real-world problem or opportunity within a family business (ideally your own or a partnered one). This could involve market research, strategy development, or operational improvement.
Tools & Resources
Academic advisors, Industry mentors, Market research databases, Business analysis tools
Career Connection
Demonstrates practical application of knowledge, critical for showcasing readiness to lead or consult for family businesses during placements or entry into the family enterprise.
Develop Succession Planning and Governance Understanding- (Semester 6-8)
Research and study various models of succession planning, governance structures, and conflict resolution in family businesses. Attend specialized workshops or webinars on these topics to prepare for future leadership responsibilities.
Tools & Resources
Books on family business (e.g., ''''Family Business'''' by Poza), Harvard Business Review articles, Insights from specialized consulting firms, Legal and financial expert consultations
Career Connection
Equips students with the foresight and skills to ensure smooth transitions and long-term stability, directly preparing them for leadership challenges in family-owned ventures.
Prepare a Professional Business Plan for Family Business Expansion/Diversification- (Semester 7-8)
Work on developing a detailed business plan for expanding an existing family business product/service or diversifying into a new venture. This involves market analysis, financial projections, and strategic planning.
Tools & Resources
Business plan templates, Financial modeling software (e.g., Excel), Mentorship from industry experts, Pitch deck creation tools
Career Connection
A well-developed business plan is a tangible output demonstrating strategic thinking, financial acumen, and entrepreneurial drive, highly valued for taking over or joining a family business.
Program Structure and Curriculum
Eligibility:
- No eligibility criteria specified
Duration: Not specified
Credits: Credits not specified
Assessment: Assessment pattern not specified
