Diploma in Family Managed Business

Starting from October 21, 2017
Time: Sat 2:30pm - 9:00pm
Sun 10:00am - 5:00pm
 
Venue: CEE@IBA,Karachi Academic Plan Batch September 2017
Info: ceeinfo@iba.edu.pk apply online
Contact: Tel: (0213) 8104700 (Ext:1804, 1807, 1809, 1812)  
Online Forms availability: October 1, 2017
Submission of forms deadline: October 16, 2017
Interviews & Admission offers: October 17 to 19, 2017
Fee & Document Submission: October 16, 2017
Orientation Ceremony: October 21, 2017
Class commencement: October 21, 2017
  • Program Overview

    According to the Center for International Private Enterprise (2011)¹ there are over 50,000 family businesses operating in Pakistan.  This figure excludes small roadside businesses in the country. Furthermore; over 80% of companies listed on the Pakistan Stock Exchange are in same way related to a family business  (Zahid & Aslam, 2006)².
    Family businesses serve as the bedrock of any economy. And in most ecomomies more than 70% of businesses are classified as family business. These are not only engines of growth and contributors to the economy but they also generate employment. It is the natural evolution through which  businesses transform from an entrprenuerial venture to prospective corporations.
    Family firms differ from other businesses as they combine family and business. This distinctive feature is an unimitiable asset but may turn into a liability if not managed effectively.


    diploma-mfb

    “Most critical issues facing family businesses are family based issues more than they are business based issues”

     

    The global shift in focus towards entrepreneurship and family business isn’t without merit. With hyper-competition and disruption, it has become increasingly important to focus on the institution of family business. These inherent challenges of the family business require an introspection guided by academia

    1 Center for International Private Enterprise. (2011).Safeguarding the legacy: Corporate Governance and longevity in Family Owned Enterprises.
    2 Zahid, R., & Aslam, A. (2006). Managerial E­ciency in Family Owned Firms in Pakistan - An examination of listed ‑rms

  • Need for Diploma in Family Managed Business

    Family businesses function within unique operational dynamics. Conventional management programs do not account for these in their curricula. Although most family businesses have an improved profitability due to vertical integration, long term view of business, higher equity and reinvestment (Gersick, Davis, McCollom-Hampton, & Lansberg, 1997)³. However they are not without challenges in the areas of, but not limited to:

    • Acquiring low cost capital
    • Auxiliary growth and business diversification;
    • Managing ownership and leadership transitions;
    • Professionalization of family businesses
    • Delegation of powers to non-family but competent professionals 
    • Developing the next generation of business managers/directors (Deloitte)

    A formal education then  is required that may prevent the dissoultion of family buiness that is common the world over at roughly the third generation. (Price Water Cooper)

    The overarching theme of the diploma is to “Educate family business members on contemporary business practices and to de-educate them on practices which act as impediments to growth and or lead to the dissolution of family business”

    3 Gersick, K. E., Davis, J. A., McCollom-Hampton, M., & Lansberg, I. (1997).Generation to Generation: Life Cycles of the Family Business. Boston: Harvard Business School Press.

  • Diploma Goals
    • To prepare participants for the challenges FMB face
    • To facilitate their induction and grooming into the family business
    • To realize the value of attracting and retaining non family talent
    • To capitalize on the unique advantages family businesses have over professionally managed businesses
    • To appreciate the importance of succession planning, wealth management, capital allocation, and professionalization in family managed business (FMB)
    • To understand the significance of family business governance and dynamics of family communication
    • To help participants secure family businesses by emphasizing the need for change, adaptation, innovation and continuing the spirit of entrepreneurship
    • To learn ways to attract low cost financing
    • To create awareness for best practices in HR, marketing, finance, production and R&D
    • To acquire working knowledge of business functions
    • To enhance skillset for leadership, interpersonal communication, conflict  resolution, team building  and improved decision making
    • To help evolve mindsets to look into global opportunities for expansion and diversification
    • To introduce newer business models and emerging technologies impacting business operations
    • To instill the desire to carryout socially responsible businesses
  • Benefits

    After completion of the diploma participants will be able to

    • Critically analyze the internal and external environment for problems and opportunities
    • Manage day to day operational challenges along with an eye for long run performance capabilities
    • Use parallel planning processes
    • Capitalize on family name and reputation by consistently offering high quality products and services
    • Demonstrate leadership and entrepreneurial skills required to grow business
    • Craft a legacy based on trust and commitment
    • Implement corporate governance best practices
    • Resolve successfully FMB issues and challenges through pursuing joint optimization
    • Enhance speed to market time by reducing decision making cycles and increased customer intimacy
    • Charter family dynamics for growth and expansion
    •  Maintain Work-family balance
  • Key Themes
    • Significance of family business governance and dynamics of family communication and trust creation
    • Challenges FMB face and response strategies
    • Reviving the  spirit of entrepreneurship
    • Managing non family talent
    • Succession planning, wealth management, capital allocation, and professionalization in family managed business (FMB)
    • Leadership, interpersonal communication, conflict resolution, team building and improved decision making
    • Contemporary working knowledge of business functions
  • Who should attend?
    • Family business members
    • Employees working for business
    • Spouses and next generation family members

    Interested in learning and gaining insight into contemporary best practices and processes of running family business.

  • Pedagogy
    Learning from the best practices & functions of projects around the world:
    • Lecture (Class room & Video Conference)
    • Project (Live business cases from the organizations)
    • Group Activities / Simulations/ Syndicate
    • Visits: Strategic Locations
    • LMS
    • Guest Speakers
    • In-depth study of various projects in Pakistan
      • Manual
      • Case Studies
      • International Journals
      • Text Books
  • Schedule
    • 4-Month Diploma Program
    • Commencement of Classes from October 21, 2017
    • Classes will be held on weekend from Saturday to Sunday
    • 4 Classes a week, 2 classes on each day.
    • Class Timings:
      • Saturday:       02:30 pm – 05:30 pm
      • Saturday:       06:00 pm – 09:00 pm
      • Sunday:         10:00 am – 01:00 pm
      • Sunday:         02:00 pm – 05:00 pm
  • Online Admissions

    Apply Online Now; [https://cee.iba.edu.pk/diplomaprograms.php]

    All students to be enrolled in ERP
  • Eligibility

    An applicant should:

    • Preferably be a bachelor's degree holder from HEC recognized educational institution in any area of study.
    • Be working for a family business or intends to join a family business program
  • Program Fees

    PKR 150,000/- per candidate (excluding all applicable taxes)
    15% discount is offered if full fee is paid in advance


    Advanced Payment Schedule Total
    Total fee in Advance PKR 127,500
    Last date of fee submission 16 - October - 2017
    Installments Payment Schedule Total
    Total Fee
    (if paid in 4
    equal installments)
    PKR 37,500 PKR 37,500 PKR 37,500 PKR 37,500 PKR 150,000
    Last Date of
    fee submission
    1st Installment:
    16-Oct-2017
    2nd Installment:
    06-Nov-2017
    3rd Installment:
    04-Dec-2017
    4th Installment:
    05-Jan-2018
     


    Fee Includes:
    Security Deposit (non-refundable), Admission, Test and Exam Fees, Diploma Certificate and Transcript. Fees do not include course material, books and stationery.

  • Payment

    Payment is due upon receipt of the acceptance of participants to the program along with the invoice.

    Please ensure that the payment reaches the CEE Office before commencement of the program because seat in the class will only be reserved once the fee is received.

    Payment can be made via cheque / bank draft payable to the "Institute of Business Administration, Karachi" at the following address:

    Center for Executive Education (CEE)
    IBA, City Campus, Garden/Kayani Shaheed Road,
    Karachi.

    For online payments via credit cards: https://onlinepayment.iba.edu.pk/

    From dropdown 1 & 2 please select 'Executive Education'

  • Download Brochure

    Click below to download
    Brochure for Diploma in Family Business

    For further details:

    Center for Executive Education (CEE)
    Tel: (92-21) 38104701 (Ext. 1804, 1807, 1809, 1812)
    Fax: (92-21) 38103008
    Email: ceeinfo@iba.edu.pk
    cee.iba.edu.pk

  1. Facebook
  2. Twitter
  3. Linkedin
  4. Google