The Indian Institute of Management (IIM) Lucknow has launched a two-year Master of Business Administration (MBA) programme in Family Business, aimed at business owners and the next generation of leaders in family-run enterprises. The first batch is scheduled to commence in July 2027, with applications being accepted in two phases.
The programme is designed to help participants strengthen their management skills, professionalise business operations, manage leadership transitions and develop strategies for long-term growth. It combines core management education with specialised training in family enterprise governance, succession planning, innovation and strategic investment. <Cite refs={[“turn341135search0″,”turn341135search1”]} />
Application Deadlines
IIM Lucknow will accept applications in two phases. The last date to apply for Phase 1 is December 31, 2026, while the Phase 2 application deadline is April 2, 2027. Interested candidates can access the application details through the institute’s official website at iiml.ac.in.
Eligibility Criteria
Candidates must hold a bachelor’s degree or an equivalent professional qualification, such as CA, CS or CMA. Applicants must have secured at least 50% marks or an equivalent CGPA in Class 10, Class 12 and graduation.
The programme is specifically intended for owners or next-generation members of family businesses with an annual business investment or turnover of at least ₹20 crore. Candidates must also possess a valid GMAT or GRE score, or a score from the IIM Lucknow entrance examination. Shortlisted applicants will be invited for a personal interview to assess their involvement in the family enterprise, leadership ambitions and ability to apply the programme’s learning. <Cite refs={[“turn341135search1″,”turn341135search2”]} />
Programme Structure and Curriculum
The MBA will follow an on-campus modular format at IIM Lucknow’s Noida campus, with participants attending classes for approximately seven days each month. The programme will span six trimesters over around 20 months of study.
The curriculum will cover core management disciplines alongside specialised subjects, including:
- Family Enterprise Foundations and Family Business Governance
- Business Growth Strategies and Leadership
- Succession Planning and Generational Transition
- Regulatory Frameworks
- Strategic Venture Investing
A key feature is the inclusion of six Family Business Labs, one across each trimester. These sessions will guide participants through business assessment, strategic planning, leadership transitions, innovation and investment opportunities. <Cite refs={[“turn341135search1″,”turn341135search3”]} />
Practical Learning and Global Exposure
The programme will emphasise applying classroom knowledge to participants’ own family enterprises. Students will develop a five-to-ten-year Business Transformation and Growth Plan to identify challenges, explore new opportunities and prepare their businesses for future expansion.
The learning experience will also include case studies, business simulations and potential global immersion opportunities, including visits to international family-run enterprises. Selected workshops will involve parents, siblings and senior family members in discussions on succession and governance, encouraging families to plan leadership transitions more effectively. <Cite refs={[“turn341135search2″,”turn341135search4”]} />
Through this initiative, IIM Lucknow aims to prepare future family-business leaders to balance established business values with professional management, innovation and changing market demands. The programme seeks to support the long-term sustainability and growth of family enterprises by equipping participants with the skills needed to navigate generational change and an increasingly competitive business environment.
Candidates should consult the institute’s official website for complete admission guidelines, programme fees and updated application information.
