The Indian Institute of Management, in Bangalore has introduced a new course to its prospectus designed to help educate the next generation of family business owners.
Dubbed the Management Programme for Entrepeneurs and Family Business (MPEFB), the course is part of the instituteâ€™s Raghavan Centre for Entrepeneurial Learning (NRSCEL) and has been specifically designed for those who intend to run the family business as well as those who are wanting their family business to become more successful.
IIM said the course will teach its students to be â€œwell grounded in the fundamental principals of managing businesses,â€ and will â€œprovide a unique methodology to equip entrepreneurs with critical business management inputs.â€
Some of the skills learnt will include web-based e-learning solutions alongside classroom teaching, and an â€œessential set of managerial concepts that equips them with skills and knowledge.â€
In keeping with the time constraint issue, the course structure will also include frequent face-to-face interaction, continuous online discussions and â€˜webinarsâ€™, frequent monitoring and guiding by the faculty, encouraging shared experiences in order for entrepreneurs to learn from each other and consistent communication between the faculty and the group.
The first course will run from February 2009 to February 2010.