MBA IN FAMILY BUSINESS MANAGEMENTIndian economy comprises of more than 70% of the family businesses. The importance of this sector cannot be overlooked and Family business management has its own challenges like succession planning; most of the family business does not have a succession plan. mployees working in family business will have the temptation to leave the company and !oin where the incentives are higher. "tudents who want to !oin their Family business after completing #$% can brush up their skills for taking their family businesses on to the ne&t level. %n #$% in Family $usiness introduce students to the key management area to create opportunities and challenges which are uni'ue to the businesses that run by families. This will allow students to e&plore more and analy(e the upcoming challenges in the business and practice the best management for family businesses. Family businesses are full of challenges which are threats to their e&istence or continuity) but if managed e*ciently and e+ectively can remove all risks. There are di+erences in ,egular #$% program - #$% in family $usiness #anagement program./ #$% 0reates #angers 1 employees where as #$% in Family $usiness creates employers. #$% trains students to handle !ob in corporate and $ig $usiness houses where as #$% in family $usiness trains students to take part in their own family business and grow the business.#$% graduates are most likely to handle one functional area i.e. operations) marketing) 2, or 3nance where as #$% in Family $usiness students understand the overall working of the business as they are the owner of the $usiness.#$% provides the general knowledge and understanding about the business and organi(ations where as #$% in Family $usiness student understands his own business.4o #$% 5raduates takes the ma!or decision in the business where as #$% in Family $usiness 5raduates takes each important decision every day for their own business.#$% in Family $usiness does not only help the students who aspire to work in family businesses but also who want to start their own business. #$% in Family $usiness are more bene3cial to the women who are taking participation in family businesses.In India) some institutions o+er #$% in Family $usiness #anagement for the future entrepreneurs and leaders. THE INDIAN SCHOOL OF BUSINESS (ISB)Alliance UniversityAity B!siness Sc"##lHin$!stan UniversityNira University