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Post Graduate Certificate Programme in Family Business Management & Entrepreneurship (PGCP -FBM&E) Batch 01
Associate for Technical and Student Support: VC NOW
Speak to Academic Advisors: +918929010853
Programme Overview
The Context:
In the next 15 years, 40% of India’s large family businesses will undergo a handover from the founder to the second generation of owners, and 35% of them to the third or fourth generation. (Source CII Family Business Newsletter Aug 2016)
Contribution of Family Managed Businesses in Corporate History:
According to CII – Family Business contributes 60-70 percent of GDP of most developed & developing countries.
According to Farhad Forbes co-chairman of Pune-based Forbes Marshall, also current chairman of FBN (Family Business Network) International, Globally, as well as in India, family businesses contribute to over 70 per cent of the GDP (size of economy) of most developing and developed countries.
In the case of India, this could be even more because every small enterprise is family run.
Family Manged Businesses (small as well as large) have a significant trans-national presence – 35% of Fortune 500 are family controlled.
India’s largest Companies were once Family Managed Businesses which have later transitioned into Professionally Managed Business with the Owners Family still owning a large part of these Companies. Eg Ambani, Adani, Bajaj, Birla, Godrej, Goenka, Hinduja, Tata, etc.
Problems faced by Family Business:
Family business have a long-term vision, and are not motivated by quarterly result pressures, especially if they are not a listed firm.
Most of the Business families face unique management challenges because of the differences in the attitude & aspirations of family members.
As new generations join the family business, it is an enormous challenge to keep the family & business together.
Some sacrifice the business to keep the families together, while others sacrifice the family to keep the business.
While family-owned businesses globally perform better than Corporate Enterprises and have better odds of staying in the Fortune 500 list year-on-year.
But It has also been observed that just 13 percent of the Family business survive till 3rd generation & only 4 percent go beyond third generation and one third of business families disintegrate because of generational conflict.
However, the close-knit structure of families, which fosters teamwork combined with respect to family values and family elders, has been the key to success of many family businesses.
Succession planning within the family plays a key role in determining the fate of a family owned business.
Indian Family Businesses forms the ‘backbone’ of the Indian economy and hence there is a need to extend the life span of the family businesses so that the economy can continue to derive benefit from their contribution.
The Need:
Traditionally managed Family Businesses are undergoing intense churn and transformation due to competition and changing business models in the current disruptive VUCA environment. As Family Businesses transition to their Next Generation, there is a growing need for preparing their next in Line Leaders for the Success, Growth and Continuity of their existing Business as well as Venture into New Businesses
The Programme
IIM Indore has evolved and designed a Programme that would help aspiring Family Business and Entrepreneurs create and develop their New Age Leaders who develop the skill sets, competencies required to navigate a Volatile Uncertain Complex Ambiguous and Disruptive environment.
The course is designed for Next in Line Future Generation Leaders who desire to build and grow their businesses as well as build new businesses.
It will focus on building capabilities in decision making, strategies in various aspects of business
The Programme aims at creating a new mind-set and business outlook for family managed businesses.
The course is intended for next in line Family Scions who are contemplating to grow and build family businesses as well as starting a new Entrepreneurial Venture. It will address aspects of the management and transition of a family-controlled enterprise
The Programme will present both a conceptual as well as practical hands on framework for managing family business organization.
Programme will aim at expanding the knowledge base of participants through exposure to new age and diverse management tools, techniques, frameworks, theories, peer group learning, networking, relationship dynamics, and transition strategies.
The programme will provide an opportunity for participants to assess their current Business, identify strengths, opportunities, threats and areas of improvements to help grow family legacy business ahead as well as build new businesses.
Programme USP
One of the Top IIM to Offer Family Business & Entrepreneurship Programme – Programme offered by one of the leading business schools with proven pedagogy.
Mentoring of Participants
Hands on Business Management Programme
Significant delivery on-Campus – almost 50%
Collaboration with Govt / CII / MSME
Best in the class faculty team
Current, Contemporary, Contextual and New Age programme designed to suit the need of Family Business & Entrepreneurs
- Contextually designed for working executives. • Programme faculty team includes the best of the domain experts. • Focus on real business use cases.
Programme Contents
| Topic/Course Title* |
| Module: Entrepreneurship in the New Age:
Getting to know your Business, its Eco-system and Environment, Entrepreneurial approaches, mapping and measuring key business health metrics – OKRs, Passion and Values driving, building and growing Family businesses, Challenges and suggested management approaches |
| Module – Managerial Accounting and Finance:
Understanding and Managing Finance & Commercial Functions – Costs, Expenses, Understanding Gross Margin, Net Margin, Driving Profitability, Ability to Read, understand and analyse P&L and Balance Sheet, Ratio Analysis |
| Module: Venture Financing
Project Finance, Risk, Returns, IRR, Importance of cash flows and its management, budgeting, VC investment |
| Module: Taxation
TDS, GST and Business & New Labour Law Codes |
| Module: Marketing 101 |
| Module: Product Management for Entrepreneurs |
| Module: Digital Marketing Tools Techniques and its applications for branding and lead generation
New Age Sales & Distribution Management – Tools and Techniques – B2B and B2C |
| Module: Business Strategy
Vision Mission and Values, Strategy Formulation, Implementation and Governance |
| Module: People Management and Leadership
Organization Building – Managing Self and Managing Teams, Leadership development. Driving Change Management in Family Businesses |
| Module: Organization Design and FB – Succession Planning
Roles, processes, and structures to ensure that the organization success. Succession Planning in Family Businesses. |
| Module: Operations 101
Driving Excellence in Operations and Execution |
| Module: Advance Excel and Analytic Tools for Decision Making and Growth Hacking |
| Module: Logistics & Supply Chain Management
Vendor Management, Input Cost Management |
| Module: Business Model
Creating Business Models, Value Proposition, Use of Canvases Writing a Business Plans for external fund raising |
| Module: Business & Company Laws
Regulatory Compliances for Managing and Starting a Business |
| Module: Designing and using IT Systems
Digitization of Business – Leveraging IT tools for organizational growth |
| Module: Business & Leadership Communication
Negotiations, conflict resolution, persuasion, Influencing skills in family business context. |
| Application of Learning in Family Business through Project Assignment Presentations in almost all courses |
| Optional International Immersion
Practical Information sharing sessions (on schemes) |
Duration & Number of Session Hours
Duration: 12 Months
Number of Hours: 200 hours
Number of Sessions (75 Minutes each): 160 sessions
Online: sessions: 124 sessions
On-campus module
(At the start): 03 days duration: around 12 sessions
(Mid of the Programme (dates TBD): 03 days duration: around 12 sessions
(Towards the end): 3 days duration: around 12 sessions
One or two sessions from some of the courses will become part of the on-campus orientation module. In case the on-campus module is not conducted due to the Covid situation, the same will be included in the total number of sessions.
*The programme duration may be slightly extended due to the issues like faculty unavailability and gazetted holidays on the session days.
Pedagogy
- The pedagogy will be a judicious mix of Conceptual Teaching and Case Studies and Discussions.
- Hands on application of Knowledge and Concepts to Family Business will be tested for each Module in the form of Projects / Assignments will have substantial weightage in Assessments along with online exams / assessments for conceptual testing and
- Objective of learning Sessions is to bring to life management of various aspects of family business functions, through conceptual understanding, experience sharing and dialogue of students, application of concepts, frameworks, tool kits, through interactive sessions,
- Application of knowledge through hands on assignments in terms of application of learnings in the Family Business will prepare participants to gain first hand knowledge of managing and improving family business
Assessment
Industry Mentors to assess Performance of Application of Knowledge
Performance of participants will be monitored on a continuous evaluation basis through quizzes, assignments, tests and examinations. The participant is required to score minimum marks/grades as decided by the Institute from time to time to complete the course.
Certification
Successful Completion Certificate by IIM Indore in a valedictory ceremony to be held on the campus.
Eligibility Criteria
Diploma (10+2+3)/ Graduate / Post Graduate from Universities recognized by Association of Indian Universities with minimum 50% marks in either Diploma or graduation or post-graduation (or its equivalent) with at least Two years of after graduation work experience. Candidate should possess relevant entrepreneurial exposure. Family business and entrepreneurs, start-ups can also apply for the programme.
How the Courses will be Delivered:
Courses will be delivered through on-line mode using an appropriate technology platform. Lectures will be delivered through broadband based technology involving two-way audio and video communication. Sessions will be held once in a week, generally on weekends. Participants can attend sessions from the studio located in his / her city. Participants will be provided reading materials etc. as and when required. They may also interact with the concerned faculty through e-mails/ chat mode.
The academic sessions will start from June 2023. Sessions will be held on every Wednesday and Saturday Evening:
The normal timing of the sessions will be as follows:
Wed, First session: 7.00 PM to 8:15 PM
Sat, First session: 2:30 PM to 3.45 PM
Sat, Second session: 4.00 PM to 5.15 PM
The time gap between two consecutive sessions is to give the participants a break. On some days, the classes may extend beyond the mentioned time. In addition to attending interactive sessions, participants have to undertake online quizzes, assignments and examinations.
Programme Activity Timelines
| Application Closure | August 21, 2023 |
| Estimated date for Academic Orientation | August, 2023 |
| Programme End Date | July, 2024 |
Total Fees and Payment Schedule*
| Application Fee | 3000 |
| Commitment fee at the time of acceptance of offer of admission | 10000 |
| Fee (1st Instalment) payable at the time of admission
(excluding GST) |
110000 |
| Fee (2nd Instalment) payable within 3 months of admission (excluding GST) | 110000 |
| Fee (3rd Instalment) payable within 6 months of admission (excluding GST) | 110000 |
| Fee (4th Instalment) payable within 9 months of admission (excluding GST) | 107000 |
| Total (Exclusive of GST @ 18%) | 4,50,000/- |
| Total Fee (Inclusive GST @ 18%) | 5,31,000/- |
Student Privileges
The participants who will complete the programme successfully will be eligible for the Executive Education Alumni status of IIM Indore. They will require to apply separately along with the necessary fee to register their name. Current alumni membership plans are as follows:
- 2-year membership – INR 1000/- + applicable taxes,
- Lifetime membership – INR 10,000/- + applicable taxes,
Benefits available to Executive Education Alumni: 1) Communication of brochures and newsletters from IIM Indore, 2) Access to the IIM Indore Campus Library (onsite access only), 3) Official email ID of the institute, 4) ID Card.
Mere successful completion of the programme, application submission, and fee does not entitle a participant to be eligible for executive education alumni status. IIM Indore reserves the right to confer executive education alumni status.
IIM Indore reserves the right to modify the above conditions at its discretion at any time without notice. Only the courts at Indore will have the territorial jurisdiction to try any disputes arising in respect of the Executive Alumni membership being granted.
Landing page link – https://iimindore.vcnow.in/fbme/
Apply Now: https://vcrvcnow.in/PGCP-FBM&-1/STUDENT-REG/Registration_lms.php
Speak to Academic Advisors: +91 89290 10853
Please note that IIM Indore reserves the right to change the programme design, format, number of sessions, certificate format, terms in the programme or can incorporate any such change deemed necessary by the institute without prior intimation.