IIM Lucknow rolls out two‑year MBA for family enterprises, classes start July 2027

The Indian Institute of Management Lucknow has unveiled a two‑year MBA in Family Business that will admit its first cohort in July 2027. The programme targets current business owners and the next generation of family‑enterprise leaders, aiming to build management skills needed to sustain legacies and drive growth. Six Family Business Labs run across six trimesters, guiding participants through enterprise diagnosis, vision and strategy, succession planning, leadership transition, innovation and venture investing. Core modules cover Family Enterprise Foundations, Governance, Growth Strategies, Leadership in Family‑Managed Businesses, Succession and Generational Transition, Regulatory Frameworks and Strategic Venture Investing. A capstone 5–10‑year Business Transformation and Growth Plan is required to translate classroom learning into actionable plans for participants’ own firms. The course is delivered in a modular on‑campus format; students travel to the Noida campus once a month for roughly seven days over the 20‑month period, earning 33.5 academic credits. Global immersion trips, visits to international family‑run companies, simulations and case studies complement the curriculum, while select workshops let parents, siblings and elders join discussions on succession and governance. Applicants must hold a bachelor’s degree or equivalent professional qualification with at least 50 % aggregate, be owners or scions of a family business generating a minimum turnover of Rs 20 crore per year, and submit a valid GMAT/GRE or IIM Lucknow entrance‑exam score. The online application portal opens on iiml.ac.in; Phase 1 closes on 31 December 2026 and Phase 2 on 2 April 2027, after which shortlisted candidates face a personal interview to assess leadership intent and practical fit.

Context

Family‑run firms form a large share of India’s economy, and specialised management training helps them modernise succession and growth strategies without losing their heritage.