The Indian Institute of Management (IIM) Lucknow has launched a two-year Master of Business Administration (MBA) programme in Family Business, aimed at business owners and the next generation of leaders in family-run enterprises. The first batch is scheduled to begin in July 2027.
The programme is designed to help participants strengthen their management skills, plan leadership transitions and develop long-term growth strategies for their businesses. Unlike conventional MBA programmes that often cater to students seeking management careers, the new course focuses on applying management education directly to family enterprises.
IIM Lucknow MBA in Family Business, eligibility criteria
Applicants must hold a bachelor's degree or an equivalent professional qualification, such as Chartered Accountancy (CA), Company Secretary (CS) or Cost and Management Accountancy (CMA). Candidates must have secured at least 50 per cent marks or an equivalent CGPA in Classes 10 and 12 and their undergraduate qualification.
Applicants must also be owners or next-generation members of a family business or enterprise with an annual turnover or business investment of at least Rs 20 crore. A valid Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE) score, or a score from the IIM Lucknow entrance examination, is required.
The selection process includes shortlisting and a personal interview to assess applicants' involvement in their family businesses, leadership plans and ability to apply the programme's learning to their enterprises.
Course structure and curriculum
The programme will be delivered in a modular, on-campus format at IIM Lucknow's Noida campus. It is structured across six trimesters, with classes scheduled for approximately seven days each month. The institute describes it as a two-year programme, with around 20 months of study.
The curriculum combines core management subjects with topics specific to family-run enterprises, including governance, succession planning, leadership, generational transitions, regulatory requirements, investment and business growth.
A key component is the six Family Business Labs, which will allow participants to examine challenges within their own enterprises and work towards practical solutions. Participants will also develop a Business Transformation and Growth Plan covering a five-to-10-year period for their family businesses.
The programme also includes case-based learning, business simulations and opportunities for global exposure, including visits to family-run businesses abroad. Workshops involving parents, siblings and senior family members are intended to support discussions on succession, governance and leadership transitions.
Application dates and fees
IIM Lucknow will accept applications in two phases for the 2027 intake. The deadlines are as follows.
Phase 1: December 31, 2026
Phase 2: April 2, 2027
Programme commencement: July 2027
The programme fee for the 2027-29 batch is Rs 25 lakh. Additional charges include refundable caution money of Rs 10,000, an alumni membership fee of Rs 10,000, a convocation fee of Rs 10,000 and applicable taxes.
The programme is non-residential, and hostel and mess charges are not included in the fee. Participants may opt for a global immersion component costing approximately Rs 10 lakh at actuals for academic and accommodation expenses. Those who do not opt for global immersion can instead complete a dissertation under a faculty or industry mentor, for which a separate fee of Rs 3 lakh applies.
Candidates can find the application form and detailed admission requirements on the official IIM Lucknow MBA in Family Business website.
