Post Graduate Programme in Entrepreneurship & Innovation in Family Managed Business (PGP-FMB)

Programme Learning Objectives

Why PGP-FMB Programme?

Entrepreneurship & Innovation in Family Managed Business play a crucial role in the economy of a country. According to Ernst &Young, India, it is estimated that globally, family businesses contribute around 70%–90% of the global GDP, as also in India.

Family Managed Businesses (FMBs) account for more than 85% of businesses in India. Additionally, 67% of total listed companies with market capitalization exceeding more than US$50 million each account for family businesses in India. Apart from conglomerates like Reliance and Godrej, a lot of retail trade, small scale industry, and service sector are run by family businesses.

Post Graduate Programme in Entrepreneurship & Innovation in Family Managed Business (PGP-FMB) is offered by MKES Institute of Management Studies and Research (MKES-IMSR) to give a boost to entrepreneurship ventures and to expand and modernize the family businesses to make them much more successful and professional growth-oriented businesses.

‘Make in India’; ‘Start-Up India’ ; ‘Atmanirbhar Bharat’ could be a great success, if more and more graduates after completing their PGP-FMB embrace Entrepreneurship projects and endeavour to boost the FMBs instead of continuing to run their businesses the same ways as earlier.

In the rapidly altering business environments and economies, the next generation of FMBs want to tackle the uncertainty and volatility of business world effectively. To cater to the needs of this group, (MKES-IMSR) has specifically designed this course (PGP-FMB) to help meet the needs of next generation of Family Managed Businesses.

Scope And Who Should Apply:

PGP-FMB is a specific Programme designed for:

• Next generation family business owners/successors
• Startup founders
• Aspiring entrepreneurs
• Experienced intrapreneurs and other practitioners in FMBs who aspire to assist the FMB owner with a more professional orientation.

Choice of 4(four) Electives:

• International Business
• Private Equity and Venture Capital
• International Finance
• Taxation, Commercial Operations and Compliance
• Entrepreneurship and Growth
• E-Commerce
• Doing Business in Emerging Economies
• Quality and Governance

Choice of additional Custom Electives:

• Service
• Realty
• Manufacturing
• Retail

Business and Role Plan

Business and Role Plan will be the key test of true learning for a FMB participant. The learning from the programme needs to be applied to shaping the future course of action for the business in the coming 3-5 years, as also the participant’s role therein.

Prepared in conjunction with the mentor, the Business and Role Plan will be presented by each participant to the faculty members, in mentor’s presence. External industry experts from the same/similar sector may also be invited to be part of the panel assessing the Business and Role Plan.

Pedagogy

The emphasis of the programme will be on developing Attitude, Skills & Knowledge (ASK) leading to ability of the candidate to apply learnings to business settings.

To achieve the above, PGP-FMB programme will comprise of a set of programmes aimed at developing an inquisitive and analytical mind, which proactively seeks the right knowledge, appropriate skills and attitude necessary for business.

The pedagogical approach followed will be based largely on ‘Learning by Doing’ and using ‘Business as Lab’. The experiential nature of the programme will involve four stages:

1. Learn the theoretical frameworks and models in the class based on the following 4x3 architecture:

   

2. Examine and reflect on the application of such frameworks under a wide variety of settings.
3. Make wider sense of such attitudes, skills and knowledge as applicable to business.
4. Learn and share the new knowledge to consolidate such learnings and add to the repertoire of knowledge for managing businesses effectively.