Family owned businesses have played a crucial role in the economy of most countries. They employ half the world’s workforce and generate well over half of the world’s GDP. However, most of the business families face unique management challenges because of the difference in the attitude and aspiration of family members. As new generations join the business, it is an enormous challenge to keep the family and business together.
The School for Entrepreneurship and Family Business Management, established more than a decade ago, assists family-owned firms to be in line with professional organizations. In January 2017, the school was named the Pravin Dalal School for Entrepreneurship and Family Business Management. The school offers full-time as well as integrated MBA programs in Entrepreneurship and Family Business and a Family Managed Business Administration (FMBA) weekend program.