IIM Lucknow launches 2-year MBA in family business; owners must have turnover of at least Rs 20 cr per annum

The Indian Institute of Management Lucknow (IIM Lucknow) has launched a two-year MBA programme in family business for business owners and next-generation leaders of family enterprises. The course aims to equip candidates with the management capabilities needed to sustain family legacies, control leadership transitions and build future-ready enterprises.

Interested candidates can apply for the phase 1 of the MBA in family business at IIM Lucknow through the official website at iiml.ac.in by December 31, 2026.

The deadline to apply for the phase 2 admissions is April 2, 2027. The management institute will begin the classes for the MBA programme in family business in July 2027.

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MBA in Family Business: Eligibility, selection process

MP Gupta, director, IIM Lucknow, said: “Family businesses are a vital pillar of India's economic growth, entrepreneurship and employment generation. As these enterprises navigate an increasingly dynamic and competitive business environment, it is imperative to empower the next-generation leaders of these family businesses with the knowledge, strategic vision and leadership capabilities to take their legacy forward. Through the MBA in Family Business, IIM Lucknow seeks to nurture these young leaders, who aspire to transform family enterprises into professionally managed, future-ready organisations that create enduring value for India and contribute to the nation's economic aspirations."

As per the eligibility criteria, candidates with a bachelor’s degree or equivalent professional qualification (CA, CS or ICWA) from India or abroad with at least 50% aggregate marks, or equivalent CGPA in Class 10, 12 and undergraduate can apply.

Notably, they should be an owner or scion of a family business, enterprise with a minimum investment in business, turnover of at least Rs 20 crore per annum. The applicants should also have a valid GMAT or GRE or IIM Lucknow entrance exam score.

IIM Lucknow will admit candidates through a personal interview round, where the institute will assess the applicant’s knowledge on family-enterprise engagement, leadership intent and the ability to apply learnings.

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Curriculum for IIM Lucknow's MBA programme

The 2-year MBA program will be delivered in an on-campus modular format, with participants visiting the Noida campus once every month for approximately seven days.

The program will span six trimesters over approximately 20 months and will include 33.5 academic credits (1 credit = 30 hrs), of which 5 are audit credits.

The course involves the integration of classroom learning with application to the participants’ own family enterprises.

The MBA programme’s curriculum covers core management disciplines alongside family-business-specific areas, including family enterprise foundations, family business governance, growth strategies, leadership in family-managed businesses, succession and generational transition, regulatory frameworks, and strategic venture investing.

The course also combines rigorous management education, family-business expertise, global exposure and entrepreneurial opportunities to prepare participants to lead, transform and grow family enterprises across generations

The programme will also include global immersion opportunities, visits to international family-run enterprises, simulations and case-based learning, alongside select workshops that allow parents, siblings and elders to participate in discussions on succession and governance.

The curriculum provides contemporary management knowledge, covering strategy, finance, governance, and digital transformation, contextualised to the realities of family enterprises.