IIM Lucknow Launches MBA in Family Business for Next-Generation Business Leaders

The Indian Institute of Management Lucknow (IIM Lucknow) has introduced a two-year MBA in Family Business to prepare business owners and the next generation of family enterprise leaders for leadership responsibilities, succession planning and long-term business growth.

The programme is designed to help family-run businesses adapt to changing markets while preserving their legacy and building sustainable enterprises.

IIM Lucknow Launches MBA in Family Business

According to the institute's press statement, applications will be accepted in two phases. The last date to apply for Phase 1 is December 31, 2026, while the Phase 2 deadline is April 2, 2027. The programme is scheduled to commence in July 2027.

The course combines management education with practical projects based on participants' own businesses. A key component is a capstone project requiring students to develop a five-to-ten-year Business Transformation and Growth Plan for their family enterprises.

IIM Lucknow MBA in Family Business: Programme Highlights

The programme is structured to address the specific challenges faced by family-owned enterprises, including leadership transitions, governance, innovation and business expansion.

Programme Structure and Learning Approach

The MBA programme will be delivered through a modular on-campus format, with participants attending classes at the Noida campus for approximately seven days each month. The programme will cover six trimesters over approximately 20 months and include 33.5 academic credits, including five audit credits.

The curriculum combines core management subjects with specialised family-business topics such as enterprise foundations, governance, growth strategies, succession planning, leadership transitions, regulatory frameworks and strategic venture investing.

The programme will also feature six Family Business Labs, conducted across the six trimesters. These labs will guide participants through enterprise assessment, vision development, succession planning, leadership transition, innovation and investment opportunities.

Additional learning opportunities may include international immersion, visits to overseas family-run enterprises, business simulations and case-based learning. Selected workshops will also encourage parents, siblings and senior family members to participate in discussions on governance and succession.

Eligibility Criteria for IIM Lucknow MBA in Family Business

Applicants must meet the educational, professional and family-business requirements prescribed by the institute.

Educational qualification: A bachelor's degree or an equivalent professional qualification, such as CA, CS or ICWA, from India or abroad.

Academic marks: At least 50% aggregate marks or equivalent CGPA in Class 10, Class 12 and the undergraduate degree.

Family-business association: Applicants must be owners or scions of a family business or enterprise.

Business scale: The family enterprise must meet the stated minimum investment or annual turnover requirement of ₹20 crore.

Entrance examination: Applicants must have a valid GMAT or GRE score, or a score from the IIM Lucknow Entrance Examination.

Candidates should consult the official programme guidelines to confirm how the business investment or turnover requirement is assessed and whether any additional documentation is necessary.

How the Programme Supports Family Business Growth

A major feature of the MBA is its emphasis on applying classroom learning directly to participants' enterprises. Through the capstone Business Transformation and Growth Plan, students will develop strategies intended to guide their companies over the next five to ten years.

The programme aims to strengthen decision-making, professionalise business operations and prepare future leaders to manage generational change. Its combination of academic instruction, practical business projects and cross-generational engagement is intended to help family enterprises address succession challenges while exploring new opportunities for growth.

Interested candidates should review the official IIM Lucknow programme announcement for application procedures, required documents, entrance examination details and the latest admission updates before submitting their applications.