PGDM Family Managed BusinessWelingkar Institute of Management Development & Research
- Post Graduate Diploma
- At 2 venues
Frequent Asked Questions
Students seeking admission to the PGDM FMB should: be graduates from a recognized university, having minimum 2 years work experience after graduation, in a family business
The Indian and world economy are dominated by family owned businesses, which generate most of the economic output and wealth of a nation. In some regions of the world family-owned companies virtually control the economy. While family-owned companies are often strong competitors, they have vulnerabilities that need to be managed. A vast majority of family controlled businesses experience difficulties like moving from one-person general management to an institutionalized competence that results into competitive fitness across generations.
Keeping in view different issues which confront family managed business, Welingkar has designed PGDM Family Managed Business (PGDMFMB) program, which explores and analyzes best management practices in family-owned businesses, governance practices and family continuity challenges, including issues relating to first generation entrepreneurs.
About the Program
The PGDM FMB program trains young members of business families who are eager to acquire management skills while contributing to their business. It explores businesses, personal and family issues confronting such businesses and the managerial, strategic and behavioural complexities in such firms.
Through the combination of classroom sessions which includes different forms of experiential learning and international exposure, the participants will learn how to leverage on their strengths and manage the challenges of family managed businesses.
Participants whose family (or spouse's family) owns a business, whether or not the participant intends to work in the business or will be a shareholder of it.
Participants who may work with these businesses as a non-family manager, consultant, investment banker, private banker or in other roles.
Participants who are first generation entrepreneurs/ members of the family.
The program aims at:
Identifying the characteristics that differentiate family business from other businesses.
Evaluating situations and managing problems specific to family businesses.
Examining the life cycle of family businesses from the perspective of family and ownership development.
Enhancing understanding, effectiveness and commitment as members of family and business/ new business.
Building professionalism in the family business.
Examining the complexities of ownership and management, separation issues, succession planning and their implications for future generations.
Nurturing family members as family business managers.
Defining and dealing with women's issues in family business.
Designing effective family business boards and family governance.
Applying Management Science to family managed business.
Imbibing family values and ethics in the family managed businesses.
Cultivating global thinking in the family managed businesses.
Understanding latest international trends in family managed businesses.
Appreciating strategic issues peculiar to family managed businesses.