Management Program for Family Business (ISB MFAB) is a comprehensive and explicit general management program. This program is basically designed keeping the young leaders in mind, who hail from family businesses and intend to manage their business by their own and also for individuals who look forward to work in family businesses.
In the course duration of 15 months, the participants are able to contribute to the success of their businesses. The course context is tailor-made and therefore, contextualized according to the needs of the family business. Thus, it makes it better for the participants to understand their business and sustains them through the various phases of growth and transition, in an environment which is competitively healthy.
The best management practices prevalent in family businesses are drawn in, so that the business leaders can be taught about objective setting, astute management and planning of their own family businesses.
ISB MFAB Program Overview
The format of the course is part-time so that there is no disruption to the family business. Classroom learning is the asset of MFAB and plays a pivotal role in the learning experience. The format allows the students to apply whatever they have learnt in the program into their business directly.
ISB MFAB Pedagogy
Online Preparatory Courses: The participants have to undergo five online analytical foundation courses. Sourced from Harvard School Publishing, the participants need to spend 120-150 hours in the classes.
ISB MFAB Pre-Course Readings
Uploaded in the ‘Learning Management System’, the Pre-Course Readings are necessary to be read before attending the classes.
ISB MFAB Speaker Series
In order to build a practical perspective to the taught management theories, guest lectures and speaker series are organized. Distinguished business leaders attend the Annual Conferences and seminars.
Simulations in ISB MFAB
The participant is asked to make decisions according to the simulation software. In this way, theoretical reasoning is added to the decision making process.
Assessments in ISB MFAB
The learning and performance of the students are assessed through examinations in which the participant is required to achieve a particular grade for passing.
ISB MFAB Curriculum
The basic analytical skills are developed along with a mix of the management courses, across the different functional domains. The foundation step is laid for advanced learning in leadership and strategy. The integral part of the curriculum would be the set of courses which are uniquely designed for the family businesses.
ISB MFAB Online Preparatory Courses
1. Quantitative Methods: An online introduction to quantitative analysis for businesses, which is meant to make the students understand that quantitative information is important. Not only the individual student but the entire group is assessed, thus helping in the better understanding of the systematic diagnosis of the learners.
2. Financial Accounting: Pre and post test assessments are included. Students are taught basic fundamentals of financial accounting, statements like balance sheets, cash flows, income sheet, approach with which the financial statements are constructed, simple ratios that capture the important elements of the firm’s performance.
3. Finance: An Introductory Online Course: The topics dealt are corporate finance, tools needed for financial analysis, frameworks for corporate financial decision-making. It also covers time value of money, financial statement analysis, project valuation, capital asset pricing model, discounted cash flow and pro forma forecasting.
4. Spreadsheet Modeling: Functionality in Excel 2007 is reviewed for solving complex business problems. Topics included are fundamentals of excel functionality, sensitivity analysis, IF statement and Solver and Monte Carlo simulation.
5. Mathematics for Business: Key mathematical concepts are taught in the course which are systematically designed into Finance, Probability, Statistics, Algebra and Calculus.
Basic Skills Courses in ISB MFAB
It includes Managerial Decision Making, Microeconomics, Macroeconomics, Operations Management.
The Core Courses and Advanced Courses are Financial Management, Financial Accounting, Management Accounting, Managerial Accounting, Marketing Research, Customer Research, Competitive Strategy and Management of Family Business portfolio, Global Alliances, mergers and Acquisition, Innovation and Growth, Change Management, Competitive Marketing Strategy, Strategic Negotiations, Power and Leadership.
Family Business Courses include Understanding Family Business – Managing Paradoxes, Professionalization of Family Business, Building Lasting Family Business – Synergy in Vision, Values and Strategy and Excellence in Family Business – Corporate and Family Governance.
International Immersion in ISB MFAB
The MFAB program believes in international immersion and thus, has interventions such as the cultural visits, classroom teaching and country experience. Prominent industry experts come for guest lectures, while the industry visits and interaction with the government officials also takes place. The international immersion can take place in USA, Asia and Africa.
ISB MFAB Program Calendar
Continued for 15 months, the classes are held for one week every 6th week.