The Global Family Managed Business (Global FMB) is an innovative 12-month, tri-city program designed to equip incumbents of family businesses with the knowledge, skills and attitude required to tackle challenges that are unique to family managed businesses. Global intelligence is a unique outcome of the Global FMB program as participants are given opportunities to live and study at our campuses in Dubai, Mumbai and Singapore, and as a result, develop the skills needed to take their business global.
PLEASE NOTE: THIS PROGRAM IS NOT ACCREDITED BY TEQSA, ASQA OR ANY REGULATORY BODY IN INDIA OR OVERSEAS.
Why SP Jain's GFMB?
A traditional Master's program is ideal for those aspiring to join the corporate sector. S P Jain’s FMB recognises that family businesses have unique business and family challenges involving issues of ownership and management, and is designed to incorporate exhaustive coverage of these issues. S P Jain's GFMB emphasises all-round development involving all aspects of family business so that you can work with experts in all fields.
The GFMB faculty at SP Jain are stalwarts in family managed business, having specialised in the subject for at least a decade or more. Led by Prof. Parimal Merchant, our excellent professors have an immaculate way of connecting with the student community on personal and business issues, giving students an extended learning and comfort of asking questions, without hesitation.
The program includes one week of classroom learning at S P Jain’s state-of-the-art campuses, followed by three weeks of application-based learning at the participants’ family businesses, culminating with the submission of a robust business plan. During the application phase, students can test and apply their classroom lessons and witness the impact it has on their family businesses.
Understanding the global business environment is key to business success, and at S P Jain, we offer our students the option to choose to diversify their learning by studying in Dubai or Mumbai. Our students understand the global nature of business in the most compelling way – through actual exposure to diverse cultures, political beliefs, traditions and technological innovations.
While the program imparts modern and global perspectives it also addresses cultural issues peculiar to Family Businesses grounded in culture, traditions and family beliefs. The program also enables the students to learn about varied family interfaces and changes in the family cycle.
The program offers participants lifetime access to S P Jain’s eminent faculty, alumni network, and the opportunity to mentor subsequent batches and participate in campus events and refresher programs.
The SP Jain Advantage
- CONTACT WEEK ONE IN DUBAI – to develop a perspective of doing business in the Middle East
- CONTACT WEEKS TWO TO SIX IN MUMBAI – to clarify and discuss practical implementation issues.
- CONTACT WEEK SEVEN IN SINGAPORE – to develop a perspective of doing business in Southeast Asia
- CONTACT WEEKS EIGHT TO TWELVE IN MUMBAI – to work on a business plan
- GENERAL MANAGEMENT: What is and what should be my business?
- BUSINESS SUPPORT SYSTEM: In what conditions do I operate?
- BUSINESS IS CUSTOMER: Who is my customer and what drives his/her buying process?
- BUSINESS IS OPERATIONS: How do I deliver what I promise my customer?
- BUSINESS IS MONEY: What resources are utilized and what is the outcome?
- BUSINESS IS PEOPLE: How do I manage people within my organization?
- High-tech Adaptive Learning tools
- Highly experienced faculty (through interactions both inside and outside the classroom)
- Father/mentor about business implications
- Manager/business staff about implementation
- Peers in the class about application in different context
- Industrial visits and business interactions
- Classroom and out-of-classroom activities
- Feedback sharing
- Global immersion
Creation/development of a comprehensive three-year business plan
Understanding the role of the student within the context of the business plan
Creation/development of a family plan outlining challenges/opportunities in view of the family life cycle
Participants are guided and stimulated by a pool of world-class faculty who have collective experience of teaching and consulting family businesses > 100 years. Their profiles are listed below:
- Graduate in any stream
- Must own a family business
- Must have an exposure in one’s own family business
Submit your application online:
A date for further evaluation and interview will be sent to you after your application form is submitted.
TOTAL Tuition Fee (MUMBAI MODEL): INR 1,450,000
Fees must be paid in the following installments:
- Instalment 1: INR 200,000 on registration
- Instalment 2: INR 900,000 before August 10, 2017
- Instalment 3: INR 350,000 before November 10, 2017
TOTAL Tuition Fee (DUBAI MODEL): USD 20,000
Fees must be paid in the following installments:
- Instalment 1: USD 3000 on registration
- Instalment 2: USD 10,000 before August 10, 2017
- Instalment 3: USD 7,000 before November 10, 2017*
*Adjustment for Student Travel Concession to the maximum of USD 2000.
On the day of your interview, you will be required to make a 10-minute presentation of your business, which should cover three major dimensions:
- About you
- About your family business
- About your role in family business
The mentor's presence is important during the interview.
The Global Family Managed Business (Global FMB) is an innovative 12-month, tri-city professional program designed to equip the new generation of entrepreneurs from family businesses with the knowledge, skills and attitude required to tackle challenges that are unique to family managed businesses. The unique 1/3 week model ensures that learning acquired in the classroom (1 week every month) is supplemented (with SP Jain's online self-paced adaptive learning platform) and more importantly applied (with practical assignments to be carried out on their respective FMB) for 3 weeks every month.
2. Why do a Professional Program in Family Business instead of a standard postgraduate program?
A traditional Master's is ideal for those aspiring to join the corporate sector. S P Jain’s GFMB recognizes that family businesses have unique business and family challenges and is tailor-made to not just secure the entrepreneurial journey of the participants but also enable them to achieve exponential growth in their business.
3. What do you mean by Global?
Since India is a signatory to WTO (Free Trade), Indian businesses face challenges from global players on one hand and have the opportunity to tap markets across the globe on the other. Understanding the global business environment is thus key to business success. Global intelligence is a unique outcome of the Global FMB program as participants visit and study at our state of the art campuses in Dubai and Singapore.
4. How does it relate to my particular business?
While type of business may vary, fundamentals of business remain constant. Besides, participants are required to not just do practical assignments within the context of their family businesses, but also develop a Business Plan which is an integral and mandatory part of the program.
5. Are there any specializations?
The GFMB program is designed for future business owners. It emphasizes holistic development involving all aspects of family business so that you can effectively engage and get work done from experts in all fields.
6. How is SP Jain's GFMB different from other FMB programs?
- The core faculty team led by Professor Parimal Merchant (who pioneered the FMB program 2 decades ago) have been teaching and mentoring FMB students for at least a decade or more.
- The 1/3-week model ensures that participants can continue to be involved in their own family business during the course
- The program is adapted to and has a dedicated component for tackling the challenges in and cashing in on the opportunities that today's digital / technological age presents e.g. ERP & CRM systems, Digital Marketing, Data Analytics.
- SP Jain is a top-ranked global school with campuses in several international cities that students visit during the program.
The curriculum is comprehensive enough to ensure holistic development of family business scions.
Four pillars of the business:
Business is Customer - Sales and Marketing
Business is Operations - Supply Chain Management
Business is People - Organisation Behaviour (OB)
Organisation Development (OD) and Industrial Relations (IR)
Business is Money - Finance, Cost Management, Direct and indirect Tax
Once pillars are strong, how high to rise depends on:
Building the Business - General Management (e.g. Strategy)
Business Dependencies - Economics, IT, Business Law, International Business,
Digitization - ERP & CRM, Digital Marketing, Data Analytics, Cyber Security
To do the task effectively, one needs proficiency in:
Business Skills - Communication, Selling, Negotiation, Innovation
Business Leadership - Individual and Organizational, People and Task oriented.
In a family business there are further dimensions:
Business family interface - understanding mutual influence and improvement processes
Self-knowledge - understanding self
8. Which learning interventions are used?
Diverse interventions are used to ensure that the learning experience for the participants is holistic.
- Faculty & Peers (in & out-of-classroom)
- Business Simulations (in classroom)
- Self-paced Online Adaptive Learning
- Mentor / Business Owner & Managerial Staff in Family Business (while executing projects for applying classroom learning)
- Global Immersion (2 contacts in international campuses)
- Businessmen & Professionals
- Industrial Visits (India and overseas)
The program offers participants lifetime access to S P Jain’s eminent faculty, alumni network, and the opportunity to mentor subsequent batches and participate in refresher programs.
9. What is the class profile?
Each participant ends up making lasting professional relationships with entrepreneurs across the country (as participants from all over India) and across industries (e.g. manufacturing, trading, retail, real estate, services) enroll for the program.
10. What are the eligibility criteria?
To apply for the program, applicants must have:
- A Bachelor’s degree
- Experience of exposure to one’s own family business
- An aptitude to learn and grow the business.