The Indian Institute of Management, Lucknow, has launched an MBA in Family Business course. The course has been launched to train the next generation of leaders of family enterprises and business owners.
As per a press statement issued by IIM Lucknow, this course is designed for business owners and the next generation of family enterprise leaders. The last date to apply for Phase 1 is December 31, and Phase 2 is April 2, 2027. The program will commence in July 2027.
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The two-year MBA in Family Business at IIM Lucknow aims to equip participants with the management capabilities needed to sustain family legacies, navigate leadership transitions and build future-ready enterprises. It will focus on a capstone 5–10-year ‘Business Transformation and Growth Plan’ that will equip its graduates to implement strategic initiatives for their companies.
The six Family Business Labs, conducted across the programme’s six trimesters, progressively guide participants through enterprise diagnosis, vision and strategy, succession, leadership transition, innovation and venture investing.
The programme also proposes global immersion opportunities, visits to international family-run enterprises, simulations and case-based learning, alongside select workshops that allow parents, siblings and elders to participate in discussions on succession and governance. This combination of enterprise-specific problem-solving, cross-generational engagement and long-term strategic planning gives the programme a distinctive, practice-oriented approach.
Eligibility Criteria
Eligibility to apply: a bachelor’s degree or an equivalent professional qualification (CA/CS/ICWA) from India or abroad, with a Minimum of 50% aggregate marks/equivalent CGPA in 10th, 12th, and Undergraduate Degree. The applicant must be an Owner or Scion of a family business/enterprise with a minimum investment in business/turnover of at least Rs. 20 crore per annum. Applicants must have a valid GMAT/GRE score OR an IIM Lucknow Entrance Exam score
Shortlisted candidates will be invited for a Personal Interview, focusing on family-enterprise engagement, leadership intent and the ability to apply learnings.
About the program
The 2-year MBA program will be delivered in an on-campus modular format, with participants visiting the Noida campus once every month for approximately seven days. The program will span six trimesters over approximately 20 months and will include 33.5 academic credits (1 credit = 30 hrs), of which 5 are audit credits. Its distinctive feature is the integration of classroom learning with application to the participants’ own family enterprises. The curriculum covers core management disciplines alongside family-business-specific areas, including Family Enterprise Foundations, Family Business Governance, Growth Strategies, Leadership in Family-Managed Businesses, Succession and Generational Transition, Regulatory Frameworks, and Strategic Venture Investing.
