Asian family businesses have become the target of top business schools, with International Management Institute, Indian School of Business and Insead all recently launching courses aimed at next-gens.
The move is linked to a lack of targeted educational opportunities for family business leaders in Asia, said Ashutosh Khanna, the coordinator for IMI's new family business MBA.
Despite growing numbers of family-owned enterprises in India “vying for recognition on the international stage”, next-gens were limited to studying a general MBA, Khanna told CampdenFB.
These traditional MBA courses are “not tailor made for asset owners who will very quickly be making decisions, and critically need to have working knowledge of all the functional areas with the skill to effectively structure and delegate function decision making to professionals”, he added.
The 18-month IMI programme, starting in September this year, will see students studying for eight months with IMI in Delhi. There is an obligatory international element, with students spending a month at four different leading business schools – the Thunderbird School of Global Management in the US, the Chinese University of Hong Kong, Italy's Bocconi School of Management and the Grenoble Ecole de Management in France.
Students then complete a six-month mentored programme in their respective family businesses, designing and implementing growth and management strategies.
Indian School of Business also launched its a new family business course in December 2012. The Management Programme for Family Business, a part-time 15-month course, will run at ISB's Hyderabad and Mohali campuses with an optional international element.
Deepak Chandra, deputy dean of ISB, said in a statement the course “seeks to address the distinctive challenges that are faced by family business owners”.
Elsewhere in Asia, Insead’s Asia campus, working with PricewaterhouseCoopers and the Family Business Network Asia, has developed another part-time family business programme.
The course combines business theory on the Insead campus with practical coaching and work experience from PwC partners. Ng Siew Quan, a spokesperson for PwC, said in a statement: “Our objective is to help family businesses in Asia by equipping them with the necessary hard and soft skills that are essential for a smooth transition and the sustainable development of family businesses.”