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.
Welingkar's Family Managed Business Program explores and analyzes best management practices, governance practices and family continuity challenges, including issues relating to first generation entrepreneurs. It's designed for those of you, who are looking at making an existing successful business even more competitive. And also for those who are keen on creating business turnarounds or starting new ventures besides their existing ones.
Only 30 participants thus focused mentoring and coaching to develop your business.
This two year program has sessions for just 7 days a month so that business can go on as usual.
Participants will undertake a real time project and also work on creating an Integrated Business Plan for the benefit of their business, under guidance from experienced and expert faculties.
Participants will undertake an International study tour to gain exposure to global organisations, SMEs & best work practices.
Standard MBAs are trained for seeking jobs in Corporates / MNCs etc. whereas, FMB students are trained with management skills to be entrepreneurs
MBAs are tailored to create employees whereas, FMB students are trained to be the employers
MBA trains a student to operate one function such as Marketing, Operations, Finance, HR, whereas, FMB provides knowledge of all functions as required by the head of the company
MBA divides management into functions and focuses on one whereas, FMB integrates all the functions
MBAs are, typically, not responsible for major decisions of the company in the early stages of their career whereas, FMBs are sculptured to take important decisions for their own company immediately
MBA programs have a general understanding of business whereas, FMB program helps understand your own business better
MBA programs are designed to sustain the needs of the company whereas, FMB program is designed for the rapid scale up of your business
In addition, FMB program offers international exposure, including an educational visit to observe and understand the unique and highly productive work culture of Japan
