Globalisation of the Indian economy during the 1990s led to a plethora of opportunities for family businesses, bundled with daunting challenges of survival. To fight the onslaught of multinationals, family owned and managed businesses required new management skills, operational competencies, and strategic intent. As an educational institute, we were the first to recognise this need and provide management education to next-gen members of family businesses at CFBE.
India has about 6.3 Crores businesses categorized in micro, small, and medium enterprises. Almost 85% of these businesses are family owned and managed. With the changing socio-economic environment, these businesses face crucial challenges of market expansion, scaling up, and succession planning. At CFBE, our mission is to prepare and guide family businesses to move to the next level of growth and develop skills to enhance productivity, while maintaining values and entrepreneurial spirit.
We contribute to the success by providing educational and developmental programmes for owners and their family members, senior executives, and other stake holders. We offer customised solutions through consultancy services and probe deeper into the family business domain through applied research.
In 1997, we launched India’s first and most successful modular MBA programme in Family Managed Business. It is our flagship programme to prepare next-gen members to manage and lead their family businesses. A strong network of over 4000 alumni is spread across India in almost thirty five industry verticals.
Family businesses face unique challenges of growth, governance, and longevity. They are constantly buffeted by the winds of change. To help navigate the volatile and uncertain environment of business, we offer Management Development Programmes for owners of Family Business, providing them hands-on practical application on problems they face in their day-to-day business lives and helping them plan for the future of their family and family businesses. For aspiring and start up entrepreneurs we offer Start Your Business Programme.
As thought leaders in the family business education domain, we constantly endeavour to unravel profound insights into complexities of family businesses. We have collaborated with globally renowned knowledge partners to conduct application research in the family business domain. Research papers and case studies of our faculty are published in international peer-reviewed journals and magazines.
Family businesses are driven by entrepreneurial spirit and practical approach. Each family has its unique DNA and Code of conduct, resulting in distinct challenges. We guide multi-generational business owning families to reinvent their purpose and vision, consolidate resources to manage risks, develop strategic roadmaps, and prepare for transformational change.
Our experienced faculty members facilitate the process of change with the next generation’s entry in the business, increase organisational effectiveness, and hand-hold the family to develop good governance practices.
Vriddhi is a unique venture accelerator platform launched by SPJIMR’s Centre for Family Business & Entrepreneurship - the pioneer in management education directed towards family businesses in India.
The accelerator is based on the insight that while many family businesses (especially small and medium family enterprises) and startups lack funding as well as managerial inputs and insights, there are others which can step in to provide, not just financial capital, but also network capital, engagement capital and the Emotional Quotient capital required by the former.
Indeed, in 2021, the World Bank estimated the credit gap for Indian MSMEs – mostly family businesses - at US$ 380 billion, a need that cannot be met by financial institutions alone.
Vriddhi is an idea born out of this insight and seeks to connect family businesses that are fund seekers with those that are fund providers. It will work as a funding accelerator exclusively available to SPJIMR’s alumni and participants belonging to the CFBE.
In doing so, it seeks to strengthen the family business ecosystem, which is the backbone of the Indian economy, contributing to Gross Domestic Product (GDP), employment, exports and foreign exchange for India, Family Businesses are also the crucible of innovation in the business landscape of India. Through Vriddhi, SPJIMR’s CFBE will offer a curated platform to help such family businesses and startups achieve their dreams of growing their businesses beyond traditional boundaries.
For details, please contact:
Dr. Tulsi Jayakumar