The Family Managed Business

S.P. Jain Institute of Management and Research
Mumbai, India

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' SPJIMR pioneered the Family Managed Business Programme for young family business managers, which is now in its 10th Year.

The Family Managed Business (FMB) programme has a custom designed architecture reflecting the central theme of preparing the participant for leadership of his/her family business. The architecture adopted focuses on the objectives and pedagogy for fulfilling the theme

Family Businesses make numerous and critical contributions to the economy both in terms of money income and such intangibles as time, flexibility, control and personal expertise. Family businesses add the realities of family life to traditional business ethos, expanding the range of issues, personalities, needs and potential solutions for each decision. Knowing something about family types, communication patterns, managerial styles and the amount of support members can expect from their families, may be as important to entrepreneurs as knowing how to reach a market or managing cash flows.

The SPJIMR Family Managed Business Programme was evolved to assist family-owned firms in meeting the unique managerial challenges associated with operating and sustaining a successful family enterprise. The programme helps the students to identify which family dynamics most often affect business decisions, and learn how to overcome these hurdles to continued growth and profitability.

This program is offered by the Centre for Family Businesses in India at SPJIMR, which is committed in its mission to:

Further the understanding, growth and development of responsible family-owned business.
Celebrate the importance of family enterprises in our economy and our society.
To prepare next generation family business leaders for their unique leadership roles.
To increase the survival rate of mature family-owned businesses by focusing on opportunities inherent in these enterprises

The connection between entrepreneurship and family business appears to be widely recognized. An entrepreneur is often defined as someone who specializes in making judgmental decisions about the coordination of scarce resources, is institution-free, deals with the factors of risk, and has influence over the flow of information, Although the literature often portrays the entrepreneur as a single individual, family business literature strongly suggests that families are vital and supportive environments for entrepreneurial behavior. Put simply, entrepreneurship is the start and heart of most family managed businesses, and the phenomenon of an entrepreneurial family fosters, subsidises and enhances the efforts of its members who engage in entrepreneurship. "Family business" is a wider-lens view of entrepreneurship, as the initial business effort of one or more family members grows and changes over time.

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Phone:26237454/0396/2401

School Address:

Munshi Nagar, Dadabhai Road, Andheri (W),
Mumbai-400058 India

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