About 73 percent of the top 500 companies listed on BSE are family-owned, and almost half the companies on Nifty are second or third-generation family businesses. Keeping families and businesses together is one of the major challenges faced by such businesses. Also, these businesses are growing more professional both from within families and from outside. Given this, family business management is the new hot discipline at business schools in India as the scions of small to large business houses look for specialised skills to take over the reins and work in an increasingly professional corporate environment. International Management Institute (IMI), Delhi will launch a full-time 18-month global MBA programme in family business management in September 2013. In December this year, premier institute ISB launched a 15-month part-time management programme for family business (MFAB) to groom the younger generation of family-owned businesses for leadership.

Source: The Economic Times