The MBA in Family Business at IIM Lucknow is a two-year, full-fledged MBA designed for business
owners and next-generation leaders of family enterprises.
The programme combines rigorous management education, family-business expertise, experiential learning, global exposure and entrepreneurial opportunities to prepare participants to lead, transform and grow their family enterprises across generations.
The curriculum provides contemporary management knowledge—covering strategy, finance, governance, and digital transformation—contextualized to the realities of family enterprises. A distinctive feature is its emphasis on actionable outcomes, utilising family-business labs, practical projects, and a capstone 5-10 year Business Transformation & Growth Plan that allows participants to implement strategic initiatives for their own companies.
The program is designed to leverage the IIM Lucknow Enterprise Incubation Centre (IIML-EIC) ecosystem, particularly in areas related to entrepreneurship, innovation, incubation, start-up ecosystem engagement and practitioner interface. This support will complement the academic and management expertise of IIM Lucknow and provide participants with access to a broader entrepreneurial ecosystem.
Program Objectives
- To provide advanced management knowledge contextualized to family enterprises
- To sustain and expand family legacies across generations
- To facilitate effective succession planning and leadership transition
- To professionalize family business practices and governance
- To promote innovation and entrepreneurial orientation within family firms
- To integrate global perspectives with local business realities
- To promote sustainable, ethical, and socially responsible family business practices
- To nurture personal growth and leadership identity
Learning Outcomes and Graduation Attributes
Graduates of the Family Business MBA will demonstrate a strong entrepreneurial mindset, strategic leadership capabilities, and an ability to drive innovation across family businesses and new ventures. Unlike a traditional MBA, this program would not be driven by placement or a job as an outcome. Rather, this program would focus on the following learning outcomes and graduation attributes:
- Comprehensive Business Knowledge
- Strategic Leadership in Family Business
- Professionalisation, Governance Skills, Succession and Continuity Planning, Conflict Management
- Innovation and Entrepreneurial Competence
- Being GLOCAL: Global Outlook with Local Relevance
- Effective Communication and Collaboration
The major takeaway from the program is a 5- 10-year Business Transformation and Growth Plan for one’s own family enterprise.
- A bachelor’s degree or equivalent professional qualification (CA/CS/ICWA) awarded by a recognized university/institution in India or abroad
- Minimum 50% aggregate marks/ equivalent CGPA in 10th, 12th and Undergraduate Degree.
- Minimum 15 years of formal education (10 + 2 + 3 or 4 system)
- Must be an Owner or Scion of a Family Business/Enterprise with a minimum investment in Business/ turnover of at least 20 crores p.a.
- Valid GMAT/GRE score OR IIM Lucknow Entrance Exam score
Activity |
Phase1 |
Phase2 |
Announcement of the Program |
||
Last date of submission of completed application |
|
|
Sending Entrance Exam Call letters |
||
Entrance Exam |
||
Announcement of Shortlisted Candidates |
||
Writing Ability Test and Personal Interview |
||
Announcement of Selected Candidates |
|
|
Last Date of Acceptance and Submission of Acceptance Fee |
||
Last date of withdrawal of acceptance |
||
Induction and commencement of Program |
Click here to APPLY ONLINE
The MBA in Family Business programme at IIM Lucknow goes beyond governance and succession. It places significant emphasis on growth, digital transformation, innovation, entrepreneurship, new ventures, sustainability and strategic venture investing, alongside the traditional family-business themes.
The primary target is an owner or next-generation member of an established family enterprise who intends to take a leadership role in the business, professionalise it, scale it, diversify it or create new ventures around it. For applying please check the specific eligibility criteria related to turnover/investment in business.
The target participants are actively involved in their family businesses. A modular structure allows them to remain engaged with their enterprises while periodically coming to campus. It also enables immediate application of classroom learning to their businesses.
The Family Business Lab is the experiential spine of the programme. Students progressively work on their own family enterprise or an assigned enterprise, producing tangible outputs that feed into the final Business Transformation and Growth Plan.
The Labs are not standalone workshops. They form an experiential spine across all six trimesters. Each Lab has a specific enterprise-level deliverable. These progressively contribute to the final capstone.
Family-business transformation cannot realistically be developed as a single end-ofprogramme assignment. The three-term structure allows students to diagnose their enterprise, develop strategic directions, test ideas and progressively build a 5–10 year transformation plan with faculty and practitioner mentoring.
The programme is designed primarily for individuals who intend to contribute to or lead their family enterprise, rather than pursue conventional campus placements. The intended outcomes are enterprise leadership, professionalisation, growth, diversification, innovation and newventure creation.
Mentoring can combine IIM Lucknow faculty, experienced family-business practitioners, alumni and relevant members of the entrepreneurial ecosystem, including IIML-EIC. Faculty would maintain academic oversight while practitioners bring enterprise-level perspectives.
Family businesses operate in an increasingly global environment. The immersion provides exposure to international family-enterprise practices, governance, innovation and growth models. It is an optional component, with an alternative dissertation/internship route for participants who do not undertake it.
Our differentiation is the combination of a two-year dedicated MBA, six progressive Family Business Labs, continuous application to the family enterprise, and a three-term Business Transformation and Growth Plan.
FEE STRUCTURE | 2027–29|₹25,00,000- Programme Fee
Additional charges:
- Refundable Caution Money: ₹10,000
- Alumni Membership: ₹10,000
- Convocation: ₹10,000
- Taxes as applicable
Global Immersion: Optional; approximately ₹10 lakh at actuals for academic and accommodation expenses.
If opting out of Global Immersion: Dissertation under faculty/industry mentor; ₹3 lakh dissertation fee.
Note- MBA-FB programme is non-residential in nature and the fee does not include hostel and mess charges. Campus accommodation will be made available on request, on a case-to-case basis, subject to availability and upon payment on actual (as per the prevailing rates).
FEE payment schedule
S.No |
Schedule |
Amount (₹) |
|---|---|---|
1. |
At the time of acceptance of the admission offer |
1,00,000/- |
2. |
At the time of registration to the Program in Term 1(including caution money ₹ 10,000) |
4,10,000/- |
3. |
At the time of start of Term 2 |
4,00,000/- |
4. |
At the time of start of Term 3 |
4,00,000/- |
5. |
At the time of start of Term 4 |
4,00,000/- + 5,00,000 (installment 1 of global immersion) |
6. |
At the time of start of Term 5 |
4,00,000/- + 3,00,000 (dissertation fee) / 5,00,000 (installment 2 of global immersion) |
7. |
At the time of start of Term 6 (Includes Alumni fee ₹ 10,000 and convocation fee ₹ 10,000) |
4,20,000/- |
# Additional amount of INR 15,000 to be paid per term for Lunch, Tea & Snacks (On the day of classes) as per prevailing rates. Subject to revision.
At the time of giving an offer of admission to an applicant, a last date of withdrawal will also be announced. Any withdrawal from the programme by that date will attract INR 10,000/- (plus taxes as per Government of India rules) as a processing fee, and the remaining amount will be refunded. If the withdrawal request comes after the date of withdrawal, no money will be refunded. After joining the programme, all paid fee installment amounts are non- refundable.
-
Admissions Office Indian Institute of Management Lucknow, Noida Campus
B-1, Sector-62, Institutional Area
Noida 201 307 (UP) INDIA+91-120-6678481 / +91-120-6678419 admission_nc[at]iiml[dot]ac[dot]in