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M-COM in Entrepreneurship And Family Business at Panjab University
Chandigarh, Chandigarh
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About the Specialization
What is Entrepreneurship and Family Business at Panjab University Chandigarh?
This Entrepreneurship and Family Business program at Panjab University focuses on nurturing entrepreneurial talent and providing in-depth knowledge for managing family-owned enterprises. It addresses the unique challenges and opportunities within India''''s dynamic business landscape, blending modern management principles with traditional business acumen, preparing students for innovative leadership roles.
Who Should Apply?
This program is ideal for fresh graduates aspiring to launch their own ventures or join family businesses, working professionals seeking to transition into entrepreneurial roles or improve family business operations, and individuals from business backgrounds looking to formalize their understanding of entrepreneurship and succession planning.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including establishing startups, leading family business transformations, or taking up roles as innovation managers. Entry-level salaries typically range from INR 4-7 LPA, with significant growth potential up to INR 15-25+ LPA for experienced professionals in entrepreneurial leadership or management consultancy roles.
Student Success Practices
Foundation Stage
Build a Strong Business Foundation- (Semester 1-2)
Focus on mastering core concepts in Organisational Theory, Business Environment, and Financial Management. Actively participate in class discussions, case studies, and introductory projects to understand the basics of business operations and market dynamics. Utilize the university library''''s business journals and online learning platforms like Coursera for foundational courses.
Tools & Resources
University Library, Coursera (for business fundamentals), Class discussions, Case studies
Career Connection
A solid foundation is crucial for understanding complex business scenarios in later stages, aiding in strategic decision-making in future entrepreneurial or management roles.
Develop Research and Analytical Skills- (Semester 1-2)
Engage deeply with Research Methodology and Statistical Analysis. Practice data collection, analysis using tools like Excel or basic R/Python for business data, and report writing. Form study groups to discuss research techniques and critically evaluate existing business case studies.
Tools & Resources
Microsoft Excel, R/Python (basic for data analysis), Academic databases (JSTOR, EBSCO)
Career Connection
Strong analytical skills are indispensable for market research, financial forecasting, and making data-driven decisions in any entrepreneurial venture or family business.
Explore Entrepreneurial Ecosystems- (Semester 1-2)
Attend local startup events, entrepreneurship workshops, and interact with startup founders. Understand the ecosystem for new ventures and family businesses in Chandigarh and broader India. Utilize platforms like LinkedIn to connect with entrepreneurs and industry leaders for early insights.
Tools & Resources
LinkedIn, Local startup events, Workshops, Incubation Centre at Panjab University (if available)
Career Connection
Early exposure helps in identifying potential business opportunities, understanding industry trends, and building a professional network that can be vital for future collaborations or mentorship.
Intermediate Stage
Undertake Practical Entrepreneurial Projects- (Semester 3-4)
Apply theoretical knowledge by participating in hackathons, business plan competitions, or initiating small-scale entrepreneurial projects. Focus on designing innovative marketing strategies, understanding entrepreneurial finance, and navigating the legal framework for startups in India. Seek mentorship from faculty or local entrepreneurs.
Tools & Resources
Business plan competition platforms, Lean Canvas/Business Model Canvas, Mentors from industry
Career Connection
Hands-on experience in project execution and problem-solving significantly enhances employability and prepares for the practical realities of starting or managing a business.
Network with Family Business Leaders and Professionals- (Semester 3-4)
Actively seek opportunities to connect with leaders of established family businesses and professionals specializing in family business advisory. Attend conferences, webinars, and alumni meets focused on family business dynamics. Understand succession planning and conflict resolution strategies directly from practitioners.
Tools & Resources
Industry conferences (e.g., FICCI, CII events), Alumni network, Family Business forums
Career Connection
Building a robust network provides insights into real-world challenges, potential mentorship, and future career opportunities within the thriving Indian family business sector.
Develop Advanced Analytical and Strategic Thinking- (Semester 3-4)
Deepen skills in Business Analytics and Strategic Management. Work on case studies involving complex business problems, utilize analytical software for strategic decision-making simulations, and explore frameworks for technology and operations management to optimize business processes.
Tools & Resources
SPSS/R/Python for advanced analytics, Strategic management case studies, Simulation software (if available)
Career Connection
These skills are critical for making informed strategic choices, improving operational efficiency, and driving growth in both startups and established family enterprises.
Advanced Stage
Undertake a Comprehensive Dissertation/Project Work- (Semester 4)
Select a challenging topic for your dissertation related to entrepreneurship or family business. Conduct in-depth primary and secondary research, analyze findings, and propose actionable solutions. This project should reflect your specialized knowledge and research capabilities.
Tools & Resources
Academic databases, Survey tools (Google Forms, Qualtrics), Statistical software for analysis
Career Connection
A strong dissertation showcases expertise, critical thinking, and problem-solving skills, making you highly attractive to employers or preparing you for advanced research/consulting roles.
Engage in Innovation and Design Thinking Applications- (Semester 4)
Actively participate in workshops or projects focused on Innovation and Design Thinking. Learn to identify unmet needs, brainstorm creative solutions, and prototype new products or services. Focus on developing a minimum viable product (MVP) or innovative business model for an Indian market context.
Tools & Resources
Design Thinking workshops, Prototyping tools (e.g., Figma for digital, physical modeling), MVP frameworks
Career Connection
Mastering innovation and design thinking is essential for creating competitive advantages, driving product development, and fostering a culture of continuous improvement in any business.
Prepare for Post-Graduation Opportunities- (Semester 4)
Utilize university career services for resume building, interview preparation, and mock placement drives. Actively seek internship or job opportunities aligned with your specialization. For those starting their ventures, focus on refining business plans, seeking incubation support, and pitching to potential investors.
Tools & Resources
Career Services Department, LinkedIn Jobs, Startup India portal, Incubators
Career Connection
This stage is crucial for translating academic learning into tangible career outcomes, whether through successful placements or launching a well-prepared entrepreneurial venture.
Program Structure and Curriculum
Eligibility:
- B. Com. (Hons.) / B. Com. / BBA / B.A. with Commerce (at H.S. Level) with 45% marks in aggregate.
Duration: 2 years / 4 semesters
Credits: 80 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCEFB101 | Organisational Theory & Behaviour | Core | 4 | Organisational Behaviour: Concepts and Challenges, Foundations of Individual Behaviour: Perception, Learning, Personality, Motivation and Leadership Theories, Group Dynamics and Team Building, Organisational Culture and Conflict Management |
| MCEFB102 | Business Environment | Core | 4 | Concept and Significance of Business Environment, Economic Environment and Policies, Political, Legal, and Socio-Cultural Environment, Global Environment and International Institutions, Technological Environment and Innovation |
| MCEFB103 | Research Methodology & Statistical Analysis | Core | 4 | Foundations of Research: Types and Process, Research Design and Data Collection, Sampling Design and Measurement Scales, Data Analysis: Univariate and Bivariate Techniques, Hypothesis Testing and Report Writing |
| MCEFB104 | Entrepreneurial Marketing | Core | 4 | Introduction to Entrepreneurial Marketing, Market Research and Opportunity Analysis, Product/Service Development and Branding, Pricing Strategies for Start-ups, Promotion and Distribution Channels for Entrepreneurs |
| MCEFB105 | Information Systems for Business | Core | 4 | Foundations of Information Systems, Data Management and Business Intelligence, Enterprise Systems and Supply Chain Management, E-commerce and Digital Business, Information System Security and Ethics |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCEFB201 | Financial Management | Core | 4 | Introduction to Financial Management and Objectives, Capital Budgeting Decisions, Cost of Capital and Capital Structure, Working Capital Management, Dividend Policy and Financial Planning |
| MCEFB202 | Human Resource Management | Core | 4 | Introduction to HRM and its Functions, Human Resource Planning and Recruitment, Selection, Placement, and Induction, Training and Development, Performance Appraisal, Compensation Management and Industrial Relations |
| MCEFB203 | Entrepreneurial Finance & Project Management | Core | 4 | Sources of Capital for Entrepreneurs, Venture Capital and Angel Investment, Financial Forecasting and Valuation for Start-ups, Project Planning and Risk Analysis, Project Implementation and Control |
| MCEFB204 | Family Business Management | Core | 4 | Introduction to Family Business: Characteristics and Models, Succession Planning in Family Business, Governance and Conflict Management in Family Firms, Professionalization of Family Business, Growth and Sustainability Strategies for Family Businesses |
| MCEFB205 | Legal Framework of Entrepreneurship | Core | 4 | Forms of Business Organizations: Proprietorship, Partnership, Company, Intellectual Property Rights: Patents, Trademarks, Copyrights, Contract Law and Business Agreements, Competition Law and Consumer Protection, Startup India Policies and Government Regulations |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCEFB301 | Business Ethics & Corporate Governance | Core | 4 | Concept and Theories of Business Ethics, Ethical Decision Making in Business, Corporate Social Responsibility, Fundamentals of Corporate Governance, Role of Board of Directors and Stakeholder Management |
| MCEFB302 | Strategic Management | Core | 4 | Nature and Scope of Strategic Management, Environmental Scanning and Industry Analysis, Formulation of Business Level Strategies, Corporate Level Strategies: Diversification, Integration, Strategy Implementation and Control |
| MCEFB303 | Operations Management | Core | 4 | Introduction to Operations Management, Product Design and Process Selection, Capacity Planning and Location Decisions, Inventory Management and Supply Chain Management, Quality Management and Lean Systems |
| MCEFB304 | Technology Management | Core | 4 | Concept and Role of Technology Management, Technology Forecasting and Innovation, Technology Transfer and Absorption, R&D Management and Intellectual Property Strategies, Challenges and Trends in Technology Management |
| MCEFB305 | Business Analytics for Decision Making | Core | 4 | Introduction to Business Analytics and Data Science, Descriptive Analytics: Data Visualization and Reporting, Predictive Analytics: Regression and Forecasting, Prescriptive Analytics: Optimization and Decision Models, Big Data Concepts and Business Applications |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCEFB401 | International Business | Core | 4 | Nature and Scope of International Business, Theories of International Trade and Investment, International Financial System and Exchange Rates, Global Marketing and HRM Strategies, Challenges and Opportunities in International Business |
| MCEFB402 | Managerial Economics | Core | 4 | Basic Concepts of Managerial Economics, Demand Analysis and Forecasting, Production and Cost Analysis, Market Structures and Pricing Decisions, Profit Management and Capital Budgeting |
| MCEFB403 | Entrepreneurship & Innovation | Core | 4 | Concepts of Entrepreneurship and Intrapreneurship, Theories of Entrepreneurship and Motivational Factors, Business Idea Generation and Opportunity Evaluation, Innovation Process and Diffusion, Government Policies and Support for Entrepreneurship in India |
| MCEFB404 | Innovation & Design Thinking | Core | 4 | Fundamentals of Innovation and Creativity, Introduction to Design Thinking Process, Empathy and Problem Definition, Ideation and Prototyping Techniques, Testing and Implementation of Innovative Solutions |
| MCEFB405 | Dissertation / Project Work (Entrepreneurship & Family Business) | Project | 4 | Problem Identification and Literature Review, Research Design and Methodology, Data Collection and Analysis, Report Writing and Presentation, Ethical Considerations in Research |
