IIM Lucknow MBA in Family Business: Apply for 2027

The Indian Institute of Management (IIM) Lucknow has launched a two-year Master of Business Administration (MBA) programme in Family Business for business owners and the next generation of family enterprise leaders. The first batch is scheduled to begin in July 2027.

The programme aims to equip participants with management skills, leadership capabilities and strategic knowledge to carry forward family business legacies, manage generational transitions and build sustainable enterprises.

According to the institute’s announcement, the last date to apply for Phase 1 is December 31, 2026, while the deadline for Phase 2 is April 2, 2027. Interested candidates can submit their applications online through IIM Lucknow’s official website, iiml.ac.in.

IIM Lucknow MBA in Family Business: Important Dates

Candidates interested in the new programme should keep track of the application deadlines and the scheduled commencement date.

• Programme duration: Two years
• Phase 1 application deadline: December 31, 2026
• Phase 2 application deadline: April 2, 2027
• First batch commencement: July 2027
• Application mode: Online
• Official website: iiml.ac.in

Applicants should review the eligibility criteria, admission requirements and application instructions on the institute’s official portal before submitting their forms.

How Will the MBA in Family Business Programme Be Conducted?

IIM Lucknow will deliver the MBA in Family Business through an on-campus modular format. Participants will be required to visit the institute’s Noida campus once every month for approximately seven days.

The format is designed to provide management education to family business owners and future leaders while allowing them to remain involved in their existing business responsibilities.

The programme will feature six family business labs across its six trimesters. These labs will guide participants through key areas of family enterprise management, including business diagnosis, vision and strategy development, succession planning, leadership transitions, innovation and venture investing.

What Is the Curriculum of the MBA in Family Business?

The academic curriculum will cover core management disciplines alongside subjects focused on the specific challenges and opportunities associated with family-run enterprises.

Key subjects included in the programme are:

• Family Enterprise Foundations: Understanding the structure, values and operations of family businesses.
• Family Business Governance: Exploring governance frameworks and decision-making within family enterprises.
• Growth Strategies: Learning approaches to business expansion and long-term sustainability.
• Leadership in Family-Managed Businesses: Developing leadership skills for managing family enterprises.
• Succession and Generational Transition: Preparing for leadership changes and the transfer of responsibilities between generations.
• Regulatory Frameworks: Understanding regulatory considerations relevant to business operations.
• Strategic Venture Investing: Exploring investment opportunities and strategies for developing new business ventures.

Through this curriculum, participants will gain insights into the complexities of family business management and learn how to address challenges related to governance, succession and growth.

Global Immersion and Practical Learning Opportunities

Alongside classroom learning, the programme will offer global immersion opportunities, visits to international family-run enterprises, business simulations and case-based learning.

These activities will expose participants to different approaches to family business management and help them understand how enterprises in different markets address leadership, governance and succession challenges.

The programme will also include selected workshops that allow family members, including parents, siblings and elders, to participate in discussions on succession planning and governance.

Such sessions are intended to encourage discussions among family members about leadership transitions, responsibilities and the future direction of their businesses.

What Is the Selection Process for IIM Lucknow’s MBA in Family Business?

According to the institute, shortlisted candidates will be invited for a personal interview as part of the admission process.

The interview will assess applicants’ involvement in their family businesses, leadership qualities and ability to apply the knowledge gained through the programme to practical business situations.

Candidates should check the eligibility criteria and other admission prerequisites on IIM Lucknow’s official website before applying. They should also ensure that their applications are submitted before the relevant phase deadline.

Why Is the MBA in Family Business Important?

Family-run enterprises can face challenges involving succession planning, governance, generational transitions and long-term expansion. Preparing the next generation of business leaders can help these enterprises manage change while preserving their established values and exploring new opportunities.

IIM Lucknow’s specialised MBA programme aims to address these needs through management education, practical business exercises, family business labs and opportunities to learn from international enterprises.

With the first batch scheduled to begin in July 2027, prospective applicants should review the admission requirements and application deadlines on the institute’s official website.