Entrepreneurs are agents of change not only for industrial and economic transformation but also for social development. Entrepreneurship creates an environment for innovation and inventions, as well as jobs, wealth, resources, and products and services. The major in Family Business and Entrepreneurship is a five year Integrated Master of Business Administration programme. It prepares students to understand the motivation, dynamics, and decision-making ambience of family businesses and entrepreneurs and to develop skills and mindsets for managing businesses.
The Family Business and Entrepreneurship major addresses conception, design, organization, and management of new enterprises and family businesses. It encompasses various facets from opportunity identification through launch, growth, financing and profitability. Students are encouraged to develop an entrepreneurial mindset and hone their skills needed to develop a new enterprise with potential for growth and funding or to identify and pursue opportunities for growth within an existing organisation. Students are taught different tools and techniques required to start a new venture or manage an existing venture. They are trained to work with changing environments, new technological advancements and new business models. Simulation courses give students the opportunity to put together business plans with fellow students. The major also addresses issues like purpose, conflict, succession, leadership and professionalism in the context of family businesses. Students appreciate the importance of ethical business practices and complyiance with government and industry laws and regulations. Courses are offered in areas like strategy, business history, international business, innovation, sustainability, organisational behaviour, finance, marketing and organisational design. The Entrepreneurship Major may also be combined with minor to enhance the student’s entrepreneurial or organisational career options.
On completion of this major, the student will be able to:
The Family Business and Entrepreneurship Major is designed for: (a) potential entrepreneurs; (b) future intrapreneurs—people inside organisations who use entrepreneurship principles to create profitable business lines or introduce Major change; (c) business service providers—consultants, financers and bankers, accountants, lawyers and others who work closely with start-up and operating businesses and current small business owners who are interested in new opportunities through their existing organisations; and (d) members of family businesses.