IIM Lucknow to Launch MBA in Family Business in July 2027
The programme aims to help family enterprises navigate leadership transitions, strengthen governance and develop long-term growth strategies while preserving their legacy, the Institute said in a release on Monday.
A key component of the programme is a five-to-10-year Business Transformation and Growth Plan, which participants will develop for their respective enterprises.
The curriculum will combine contemporary management education with practical applications to family businesses.
IIM Lucknow Director Prof. M.P. Gupta said family businesses were vital to India’s economic growth, entrepreneurship and employment generation.
The programme seeks to prepare emerging leaders to transform family enterprises into professionally managed, future-ready organisations.
The programme will feature six Family Business Labs covering enterprise assessment, vision and strategy, succession, leadership transition, innovation and venture investing.
It will also include case-based learning, simulations, proposed global immersion opportunities and visits to international family-run enterprises. Workshops involving family members will facilitate discussions on succession planning and governance.
The curriculum will cover strategy, finance, digital transformation, family business governance, growth strategies, regulatory frameworks and strategic venture investing.
Participants will also have access to the entrepreneurial ecosystem of the IIM Lucknow Enterprise Incubation Centre.
Prof. Garima Mittal, Chairperson of the MBA in Family Business, said the programme aimed to equip the next generation of family business leaders to navigate change, drive innovation and create lasting value while building on their family legacy.
The programme will follow a modular format, with participants attending classes at IIM Lucknow’s Noida campus for approximately seven days every month. It will comprise six trimesters over approximately 20 months, with 33.5 academic credits, including five audit credits.
Applicants must hold a bachelor’s degree or an equivalent professional qualification such as CA, CS or ICWA, and meet the prescribed academic requirements. They must be owners or successors of family businesses with a minimum annual investment in the business or turnover of Rs. 20 crore.
A valid GMAT/GRE score or IIM Lucknow entrance examination score is also required.
Shortlisted candidates will be called for a personal interview to assess their involvement in the family enterprise, leadership aspirations and ability to apply the programme’s learning.
The last date for applications under Phase I is December 31, 2026, while Phase II applications close on April 2, 2027. The programme is scheduled to commence in July 2027.
Applications can be submitted at https://www.iiml.ac.in/mbafb-application-form.
