BBA + Post Graduate Diploma in Family Managed Business (PGDFMB)
Introduction and Course Rationale
Deep rooted cultural values, a joint-family structure; so many reasons make India the bedrock of family owned businesses. Right from the Indus Valley Civilization to modern times, family businesses in India are thriving and growing at an aggressive rate.
According to the Private and Entrepreneurial (P&E) Client’s Family Business Survey 2012 by PriceWaterHouseCoopers Pvt. Ltd. (PwC):
- 78% family enterprises support community initiatives
- 96% of the Indian family businesses have non-family members on their board as compared to the global average of 64%.
Family businesses account for almost 85% of businesses in the country; they contribute nearly 60-70% of GDP (Boston Consulting Group). Two out of every three listed company in India is family owned. In fact, India has the largest block of family owned businesses in Asia.
According to the CII’s Family Business Network (India chapter), the gross output of these family-run businesses accounts for 90% of India’s industrial output, 79% of organized private sector employment, and 27% of overall employment. Family owned businesses are also investing in Indian start-ups in a big way.
Surat Business Scenario
Surat is 4th fastest growing city in the world .It is best known for its food, textile, diamond cutting and polishing industries. Surat produces over 40% of man-made fabric of India. One study shows that over 90% of polyester used in India is produced in Surat. Surat polishes over 90% of the world’s rough diamonds. It is believed that 9 out of 10 diamonds in Manhattan, New York, is from Surat. Almost all small and Medium Scale industries in Surat are family owned and run.
- Prepare the participant for a leadership role in his/her family business and be a positive influence.
- Program exclusively designed for sons/daughters of family business owners and those who wish to pursue entrepreneurial career.
- To provide knowledge, tools and skills required for managing a business.
- To sharpen the ability and skills to understand the intricacies desired to scale up the family businesses.
- To provide strong technical, economic and financial understanding, especially in the field of international operations, information technology, business analytics, customer engagement, succession planning, tax and corporate governance.
- To provide networking opportunities and mentoring services.
- Develop skills in successfully initiating, expanding, diversifying and managing a business enterprise with focus on understanding real life business situations and business practices.
- Inculcate among students, entrepreneurial competencies including self-confidence, goal setting, planning, information seeking, problem solving and planned risk taking.
- Parent series- helping in sharing existing leadership styles which are not covered in any books and management strategies. Sharing family run businesses and issues of concerns also family culture and business culture existing.
- Guest - Speakers who are practicing and managing Family Business challenges.
- Government officials – who closely deal with the business ( excise , IT office etc).
- Facilitators: - Banking sector professional, CA’s, IT experts. This will provide the participants with greater visibility as a practicing professional and also provide for networking opportunities.
- In order to break the monotony of repeated teachers – sessions can be widely distributed amongst various in house and visiting faculties.
- Faculties from the University, successful family business houses and outside institutions will conduct various sessions of the programme.