An MBA in Family Business is specifically tailored for those students who intend to take over the family business. These are not just mom-and-pop shops; many multinational corporations are essentially family-owned businesses, and some of the issues they face are qualitatively different from those of other companies.
What is an MBA in Family Business? It’s a relatively new master’s degree recognizing that family businesses represent a substantial proportion of the business sector and that they face unique circumstances in an unpredictable global economy. Courses are designed to help fledgling entrepreneurs keep up with changes in competition and organization as a function of globalization, liberalization, and privatization. The ability to navigate uncertain economic waters made choppy by the complex dynamics inherent to family-owned businesses is a necessity for those planning to work in such an environment.
The value of a Master of Business Administration is that it fosters the entrepreneurial spirit and the development of best practices for family business management. This involves exploring business continuity, succession planning, opportunity and failure analysis, governance, boards, taxes, and financing. A good program should provide a sound balance between theory and practice, which allows students to apply knowledge in practical ways.
The cost of earning this master’s degree and the program duration vary from institution to institution, so interested students should put some time into carefully researching prospective schools. Prerequisites, costs, curriculum, and time frames are some of the key details to examine.
Graduates are pursuing executive or managerial positions. Many intend to join the family business with an eye toward assuming the helm when the time is right. Further, this master’s degree often pairs family business with entrepreneurship. Thus, some graduates use this program as a springboard to starting up their own company or running an existing small or medium-sized business. Whether the family business is large or small, well-established or just starting up, graduates are better prepared to help it keep up with the competition.
MBA in Family Business programs are offered from a variety of reputable institutions at different times of the year. Online courses now make it much easier for students to pursue such a degree. Search for your program below and contact directly the admission office of the school of your choice by filling in the lead form.
Entrepreneurship is one of the fastest growing areas of study in business schools across the U.S. More than 65% of millennials have a significant interest in being an entrepreneur. [+]
Entrepreneurship is one of the fastest growing areas of study in business schools across the U.S. More than 65% of millennials have a significant interest in being an entrepreneur.
To meet this growing interest, starting Summer 2018, Meredith will offer a Concentration in Entrepreneurship and Family Business. In addition, the MBA program will offer a Certificate in Entrepreneurship and Family Business, which includes an entrepreneurial "boot camp" for students pursuing the postgraduate certificate.
“While most entrepreneurial programs tend to focus on the exciting 'unicorn' startups that have high growth potential, Meredith College provides a great environment for the pragmatic and practical 'everyday' entrepreneur.” Kristie Ogilvie, Dean, School of Business... [-]