The Indian Institute of Management Lucknow (IIM Lucknow) has launched a two-year MBA program specifically designed for family business owners and next-generation leaders. This program aims to equip candidates with essential management skills to sustain family legacies, manage leadership transitions, and build future-ready enterprises.
- The MBA program targets family business owners with at least Rs 20 crore annual turnover.
- Applications for phase 1 close on December 31, 2026; phase 2 deadline is April 2, 2027.
- Classes will begin in July 2027 at IIM Lucknow's Noida campus.
- The curriculum combines core management subjects with family business-specific topics.
- Program delivery is modular, with monthly on-campus sessions lasting about seven days.
Who is eligible for the MBA in Family Business at IIM Lucknow?
To apply, candidates must hold a bachelor’s degree or an equivalent professional qualification such as CA, CS, or ICWA, with at least 50% aggregate marks or equivalent CGPA in Class 10, 12, and undergraduate studies. Applicants should be owners or heirs of family businesses with a minimum turnover of Rs 20 crore per annum. Additionally, candidates must have a valid GMAT, GRE, or IIM Lucknow entrance exam score.
How does the selection process work?
IIM Lucknow selects candidates through a personal interview. During this round, the institute evaluates the applicant’s knowledge of family enterprise engagement, leadership intent, and ability to apply management learnings to their family business.
What does the MBA curriculum include?
The two-year MBA program is delivered in an on-campus modular format, with participants visiting the Noida campus once every month for approximately seven days. The program spans six trimesters over about 20 months and includes 33.5 academic credits, with 5 audit credits.
The curriculum integrates classroom learning with practical application to the participants’ own family enterprises. It covers core management disciplines such as strategy, finance, governance, and digital transformation, alongside family-business-specific subjects like family enterprise foundations, governance, growth strategies, leadership, succession planning, generational transition, regulatory frameworks, and strategic venture investing.
Additionally, the program offers global immersion opportunities, visits to international family-run enterprises, simulations, case-based learning, and workshops that involve family members in discussions about succession and governance.
Why did IIM Lucknow launch this program?
According to MP Gupta, director of IIM Lucknow, family businesses are a vital part of India’s economic growth, entrepreneurship, and employment generation. The program aims to empower next-generation leaders with the knowledge, strategic vision, and leadership skills needed to transform family enterprises into professionally managed, future-ready organizations that contribute to India’s economic aspirations.
When can candidates apply and when do classes start?
Phase 1 applications are open until December 31, 2026, and phase 2 applications close on April 2, 2027. Classes for the MBA in Family Business will commence in July 2027 at the Noida campus of IIM Lucknow.
