IIM Lucknow Launches MBA in Family Business to Prepare Next-Generation Leaders

The Indian Institute of Management (IIM) Lucknow has launched a two-year MBA in Family Business programme aimed at preparing the next generation of leaders for family-owned enterprises. The programme is designed to help business owners and successors strengthen their management skills, navigate leadership transitions and develop strategies for sustainable business growth.

The course combines core management education with practical learning focused on participants' own family enterprises. Its curriculum aims to help students preserve established business legacies while adapting to changing market conditions, new technologies and emerging business opportunities.

IIM Lucknow MBA in Family Business: Programme Highlights

A key feature of the programme is a capstone project called the Business Transformation and Growth Plan, which requires participants to develop a strategic roadmap for their enterprises over a five-to-ten-year period.

The programme also includes six Family Business Labs conducted across its six trimesters. These labs progressively address enterprise diagnosis, vision and strategy, succession planning, leadership transitions, innovation and venture investing.

Participants will also have opportunities for global immersion, visits to international family-run enterprises, simulations and case-based learning. Selected workshops will involve parents, siblings and senior family members in discussions about succession and business governance.

By combining academic instruction with practical business challenges, IIM Lucknow aims to provide a learning experience tailored to the needs of family enterprises.

Eligibility Criteria for the MBA in Family Business

Applicants interested in the programme must meet the following eligibility requirements:

• Educational qualification: A bachelor's degree or an equivalent professional qualification, such as CA, CS or ICWA, from India or abroad.

• Academic performance: At least 50% aggregate marks or an equivalent CGPA in Class 10, Class 12 and the undergraduate degree.

• Family business background: Applicants must be owners or scions of a family business or enterprise.

• Business scale: The family enterprise must meet the stated minimum business investment or annual turnover threshold of ₹20 crore.

• Entrance examination: Applicants must have a valid GMAT or GRE score, or a score from the IIM Lucknow entrance examination.

Prospective applicants should check the institute's official admission notification for the complete eligibility conditions, documentation requirements and application deadlines.

Programme Duration and Learning Format

The two-year MBA programme will follow an on-campus modular format, with participants attending sessions at IIM Lucknow's Noida campus approximately once a month for around seven days.

The programme is structured across six trimesters over approximately 20 months and includes 33.5 academic credits, of which five are audit credits. Each credit represents 30 hours of academic engagement.

A distinctive feature is the integration of classroom learning with practical application to participants' family businesses. This approach is intended to help learners translate management concepts into strategies for their own enterprises.

Key Subjects Covered in the Curriculum

The curriculum combines core management disciplines with subjects specifically designed for family-owned businesses.

Key areas include:

• Family Enterprise Foundations

• Family Business Governance

• Growth Strategies

• Leadership in Family-Managed Businesses

• Succession and Generational Transition

• Regulatory Frameworks

• Strategic Venture Investing

These subjects are intended to help participants understand business governance, manage intergenerational transitions, identify growth opportunities and make informed strategic decisions.

Preparing Family Businesses for the Future

Family-owned enterprises often face challenges involving succession, professionalisation, governance and changing market conditions. Preparing the next generation to address these issues can play an important role in maintaining business continuity.

Through its MBA in Family Business, IIM Lucknow aims to equip future leaders with the management knowledge and practical skills needed to navigate these challenges.