Gear up to take your family-owned business to the next level with this power-packed program designed for the future business leaders. Receive unparalleled proficiency in concepts and skills required to traverse the complexities of your business.

Unleash your potential

What You'll Learn

Through the Family Business Management program, you will learn:

  • How to manage your business professionally as an entrepreneur and a future leader.
  • A blend of managerial, leadership, and technical skills through experiential and case-based learning approach.
  • How to be a strong communicator, analytical decision maker, develop strategic thinking, vision and business acumen, while enhancing your digital data analysis competency.

Take a peek

Program at a Glance

The unique MBA FBM program preps you to spearhead the most advanced business projects, and see them to their success.


Designed for the next-gen business leaders

From expanding your vision and understanding the business life cycle to improving your business acumen and acquiring necessary digital and analytical capabilities, this program brings to life and encourages the true leader within you.

Two modes of learning

The only program in Family Business Management that offers the flexibility of two modes - PGD in FBM and MBA in FBM - this program allows an immense choice in earning credits and structured learning based on individual career goals and business needs.

The best of both worlds

A combination of both general business and construction business tracks, the program enables you to choose your specialization and maximizes your potential through meticulously blended learning, action-oriented learning, peer-to-peer learning, and networking.


The program offers a Blended Learning format with 18 months of intensive learning (on-campus) divided into Semester I, Semester II, and Semester III followed by Semester IV – Industry Internship/Entrepreneurial Venture Foundation/Family Business Expansion. Application Project on learnings will commence in Semester I and end in Semester III with mid-term evaluation in SEM II and final evaluation in SEM III.

Access to NICMAR Incubation Centre

Enjoy access to a plethora of activities and engagements under the NICMAR Incubation Centre (Upakram), and enhance your entrepreneurial skills and acumen while being a part of the ever-expanding NICMAR alumni network.


Pune Campus

Seamlessly blending with Baner’s elite, cutting-edge lifestyle, our Pune campus will leave you enchanted with its state-of-the-art learning and living facilities.



One year full time

For those who wish to take an exit after completing one year of the program in full-time mode.


Two years full time

The only program in Family Business Management that offers the flexibility of two modes - PGD in FBM and MBA in FBM - this program allows an immense choice in earning credits and structured learning based on individual career goals and business needs.


Semester 1

Every semester of the MBA FBM program is a blend of General Core, Programme Core, and Ability Enhancement courses. This ensures that you get a holistic understanding of both the core concepts as well as application-oriented learning under the domain of family business and entrepreneurship as a whole.

What’s more, you’ll also find a fleet of Massive Open Online Curriculum (MOOC) courses on Design, Technology, Innovation, Entrepreneurship, and Business Models structured across semesters that help sustain your knowledge as a future business leader.

Apply Now
  • Business Model Canvas

    This is a project-based course that commences in Semester 1 and continues through Semester 2 till the final evaluation in Semester 3. The course is based on real-time application of learning in project-based format to encourage students to either work on New venture creation or work towards Family Business expansion.

  • Mandatory Non-Graded courses (Choice based – ANY two)
  • Business Communication I

    This course is a part of choice based mandatory course selection across Semester I and Semester II detailing the basics of communication, role of business communication, oral and written communication fundamentals.

  • Business Economics

    This course allows you to understand the interconnected role of business in the larger context of the business environment in which it operates. It helps you understand what factors can have effects on your future business and solutions for mitigation.

  • Decision Analysis

    This is a fundamental course that combines the core areas of statistics and data science to support the analytical decision-making process that is the crux of every business. With data today becoming critical, this course helps you understand how the data can be the fundamental of business decision analysis.

  • Programme Core Courses
  • Business Finance

    A course that is required by every business to understand the basics of managing its finances in a world governed by the flow of money. From basic accounting principles to the foundations of financial management, the course introduces you to the comprehensive world of managing and leveraging money for the benefit of your business.

  • Organizational Behavior

    This course gives an introduction to the micro and macros aspects of human behavior from an individual, group and organizational perspective.

  • Marketing Management

    A foundation course that introduces you to the core concepts of Marketing, outlining the knowledge translated from the doyens of this domain.

  • Design Thinking for Innovation

    This course breaks the mold of cognitive fixedness and allows you to leverage the fundamental design thinking principles to craft innovative solutions from a more human-centric approach to address business challenges.

  • Entrepreneurial Mindset and Action

    This is about helping you develop an entrepreneurial perspective and open your horizons towards identifying, assessing and shaping various opportunities across contexts; whether for new venture creation or bringing innovative entrepreneurial solutions to existing organizations.

  • Family Business Management

    This course gives an in-depth understanding of the fundamentals of setting up and running a family business, along with an outline of its governance challenges, issues and strategies for successful operation.

  • Data Visualization (Advanced Excel, Power BI and Tableau)

    This course introduces you to the power of data and its usage in business decision making through usage of some of the most powerful data analysis software.

  • Persuasive Communication and Storytelling

    Everyone likes a good story, specifically if there are interesting characters, emotions and a strong storyline. Business also loves a good story, specially the venture financers. This course helps you develop your communication to be more persuasive and your business pitch to be more engaging through the art of storytelling.

Semester 2

Get introduced to a wide range of family business-focused courses blended with courses on general management and ability enhancement in this semester. From learning the legal aspects of managing your business; retaining, rewarding, and proactively managing family business employees, to understanding the specificities of managing business sales and using data effectively for business analysis, this semester equips you with a vast array of courses to enhance their knowledge.

This is also the final semester for those who want to move back to their Family Business and align their learnings to action armed with a Post Graduate Diploma in Family Business Management.

Apply Now
    Mandatory Non-Graded courses (Choice based – ANY Two)
  • Business Communication II

    This course develops your interpersonal skills for business like team building, leadership, decision making, problem solving, conflict management, time and stress management etc.

  • Introduction to Business Analytics

    The course introduces you to data driven decision making using short modules on financial analytics, marketing analytics, people analytics, operation analytics etc.

  • Engineering Fundamentals

    This course is a crash course on basic engineering principles for those who wish to brush up their basics or have no engineering background but are now handling a family business oriented towards engineering domains like manufacturing, construction, infrastructure or real estate.

  • Programme Core Courses
  • Legal Aspects of Business

    The course deals with the legal aspect of business and essential requirements for its formation and execution. It introduces you to various legal frameworks and its application in real-business context scenarios.

  • Human Resource Management

    This course introduces you to the concept of managing your human capital through various application-oriented processes from competency-based talent acquisition, to their engagement, performance management, development and retention of high-quality workforce using latest compensation and reward practices.

  • Sales Management for Family Business

    While Marketing is an introduction to understanding some fundamental principles, this course is all about actually making sales happen on the ground. It details the entire process from recruiting, motivating, assessing to supervising and eventually realizing the potential of sales teams along with management of dealer and distribution networks.

  • Private Equity and Venture Capital Financing

    A must do course for every entrepreneur as, this is where you will learn how to avail the monetary resources to fund your great ideas, new ventures or infuse fresh capital in your existing family business organization. This course introduces you to the world of heavyweight financiers who call the shots behind the screens.

  • Corporate Entrepreneurship and Innovation Strategies

    This one is for NextGen Intrapreneurs, i.e. Corporate Entrepreneurs. The course helps you understand how to give birth to new business ideas, explore innovative and creative solutions within the boundaries of your existing family business.

  • Succession and Leadership in Family Business Organizations

    This course looks at the importance of succession planning for family business organizations. Through detailed case studies, articles and research papers the course explores the context of Family Business Leadership and its challenges towards both passing the baton or taking on the mantle, stakeholder expectations and the journey thereon.

  • Project Management (using MSP and P6)

    This foundation course aims at familiarizing participants with various aspects of project management such as planning, execution, monitoring and testing of mega projects using software like Microsoft Projects (MSP) and Primavera 6 version (P6).

  • Personal Branding and Networking

    This course introduces the concept of personal branding. It is an ultimate need for both future entrepreneurs and Next Gen family business leaders as they seek to establish networks and create relationships in the business ecosystem.

Semester 3

After an invigorating summer internship experience in other family business firms, this semester allows you to dive into domain-specific electives with choices ranging from General Electives to Construction Electives for those who prefer more technical depth.

Apply Now
  • Family Business Growth, Success, and Learnings

    This course deliberates on learnings and successful journeys of great Family Businesses.

  • Managing Family Business Finance

    This course gives an in-depth understanding on how to manage family business finances which can be a critical challenge for most organizations in this area. Taking off from the base understanding of accounting and financial management, this course uses various annual reports and other financial tools to provide valuation and better understanding of a family business.

  • Choice of any 5 Domain Electives

    (Offered from a basket of NU offered electives across various programs)

    Construction Domain Electives
  • Site Administration and Control
  • Advances in Project Management
  • Management of Infrastructure Projects
  • Private Public Partnership (PPP)
  • Project and Infrastructure Finance
  • Real Estate Investments and Finance
  • Corporate Real Estate Management
  • Building Information Modeling – I
  • General Business Domain Electives
  • Disruptive Technologies and Innovations
  • Big Data Analytics
  • Digital Transformation Management
  • Digital Marketing Strategies
  • Supply Chain and Operations Strategy
  • Organizational Development and Change
  • Distribution and Logistics Management
  • Customer Relationship Management

Semester 4

This is the final semester which is the phase of actually applying the learnings into the Real Business domain through a Work Based Learning (WBL) format of either a Corporate/Industry Internship or Family Business Internship or Entrepreneurial Venture Internship. You also have the option of continuing your WBL in expansion of your own family business or setting up a new entrepreneurial venture that inspires your growth and success.

Apply Now


1. Regular classroom sessions and assignments coupled with comprehensive assessment make this programme rigorous.

2. The students will be imparted training on state-of-the-art software used in construction like Advanced Excel, Power BI, Tableau, Microsoft Projects (MSP) and Building Information Modelling (BIM).

3. Workshops on developing managerial skills towards enhancing entrepreneurial competency.

4. Experiential learning and application-based projects to help develop leadership potential and decision-making capabilities.

5. Case studies, group and individual exercises, class projects and simulation of business environment to enrich the overall programme delivery.

6. Mentors will be assigned to every work group of the program. The idea is to support and incorporate the learnings into individual businesses and orient participants towards being future ready.

Apply Now

An enriching environment

Class Profile

Being a niche and focused program, graduates with a few years of experience in their family business operations make up for a majority of the batch.

  • 23-24

    Average age

  • 15-20

    Students Per Batch

  • 11

    Average Courses Each Semester

  • 20

    Average Credits Per Semester


Our leader

Dr. Soumi Rai
Program Director, MBA FBM

Soumi brings with her a combined experience of 22 years from the corporate sector and academia into her role as the Programme Director. She has worked with the corporate consulting domain and across prestigious academic institutions like Symbiosis International University. She has worked on many prestigious assignments, including one with the Social Research Centre (WZB), Germany.

Soumi is a researcher in the field of leadership, entrepreneurship, diversity, generational and cross-cultural issues, having published numerous case studies, book chapters and research articles across reputed peer-reviewed national and international publications. She is also the recipient of NICMAR Research Excellence Award 2019.

Get started

Admission Requirements

  • Students are required to have secured a minimum of 50% aggregate marks at graduation level from a recognised institution or university.
  • Students must provide necessary documents and undertakings in the prescribed format with regards to their experience/exposure within their family business.
  • This program is also open to students who are in their final year of graduation. However, they must have completed their graduation before the commencement of this program.
  • Applications received are evaluated and eligibility is established on the basis of the documents submitted. Eligible students are invited to appear for the selection procedure, which comprises Post Graduate NICMAR Common Admission Test (PG-NCAT), Group Discussion (GD), Personal Interview (PI) and Rating of Application (RA).


  • Is this course specifically tailored for students from family-owned construction businesses?

    Yes, but that’s not all there is! This program is a niche offering that caters to an untapped need for expanding the family business horizon through better strategizing, innovation and application of leadership skills for growth and expansion/scale-up.

    Every semester of the course has been carefully designed with a focus on developing managerial skills, leadership potential along with business, technical, and digital acumen.

  • What makes this program stand out?

    As a next generation successor, this course will enhance and elevate your leadership, managerial and entrepreneurial potential, equipping you with the knowledge and tools to move upwards in your business domain.

    Alongside the leverage of NICMAR’s brand value, a legacy of almost 4 decades and the vast alumni network will be an added advantage in crafting your business success story.

  • Why should I sign up for this program?

    As the construction sector in a post-covid economy continues to deal with increasing challenges and complexity, family-run businesses, in particular, have to learn how to survive and compete within this dynamic business environment in the new world.

    As a graduate of this program, you can develop the necessary managerial and leadership abilities, and pass them onto your family members in the business as well. This allows you to effectively scan the business environment, forecast changes, be prepared for potential turmoils, innovate, and diversify too.

  • What are the objectives of this program?

    Through its comprehensive curriculum and action-oriented learning modules, the MBA - FBM program seeks to support the professionalization, scaling up, growth, and expansion for the new generation of family business entrepreneurs and leaders through the following objectives:

    i. Develop strategic thinking and alignment with business processes
    ii. Foster creativity and develop an innovation mindset
    iii. Apply analytic tools, digital tools, and functional expertise in business decision making
    iv. Enhance leadership skills and interpersonal sensitivity for collaborative working
    v. Developing excellence in managing a socially responsible and sustainable family business

  • Do you provide any placement opportunities for this program?

    Since this program is specifically designed for the successors of already established family businesses, we don’t offer any placement opportunities.

  • How will this program help me apply the learnings in my family business?

    We have designed the entire curriculum from an application-oriented perspective. Through individual and group projects, you’ll be encouraged to apply your conceptual learning and case-based understanding into your specific family business. This helps you understand and analyze the impact of your learning in the real business situational contexts.

  • Do you organize special events and extra-curricular activities for students of this program?

    Absolutely, we do! We have a vibrant and diverse student community that keeps the NICMAR spirit alive through a plethora of activities and events as part of the informal learning process. They promise to provide both cultural and interpersonal development while enhancing values like respect for all and attributes like tolerance to ambiguity, creative thinking, problem solving, and team empowerment.

    As a student of MBA FBM, you can rest assured that you’ll receive a holistic environment that leaves no stone unturned in your overall development.

Celebrate our
2022 graduates!

Take a look at our talented learners that transformed into lifelong leaders after passing out with flying colours.

Apply Now

More @ NICMAR Business School

Explore more programs at NICMAR Business School.

Go To School

News & Updates

NICMAR University is Recognised as State Private University by UGC.

NICMAR University Pune Act (L. C. Bill No. Of 2022) was passed by Maharashtra State Government on 16th March, 2022 and appeared in “Maharashtra Government Gazette” on 12th May 2022 (Mah. Act No. XXXVI of 2022).