If you are a student whose eventual aim is to join the family business after completing your education, then a new MBA specialisation being offered by the Savitribai Phule Pune University (SPPU) might be tailormade for you. Starting from 2017-2018, 12 new MBA specialisations are being offered by the varsity, and Family Business Management (FBM) is one of them. Along with the earlier six specialisations, now, as many as 18 specialisations are available for MBA students.
Unlike other MBA specialisations, where one is expected to be well-versed with only one aspect of business, such as HR or finance, a person running a family business has to don multiple roles, from resource management to production, from finance to marketing. The course has, therefore, been designed to equip a candidate with all the skills required to run a successful business house.
“A decision to start the new specialisations was taken last year, in a bid to increase chances of employability of students by offering subjects which are high in demand. The decision is being implemented from this year and the colleges affiliated to the varsity will be offering these programmes. With limited number of specialisations, jobs are also limited. These days, newer jobs have opened up, such as those in digital media world, entrepreneurship development and so on, which need specialised skill sets and training,” said Prafulla Pawar, dean of faculty of commerce and management.
The 12 new specialisations are Supply Chain Management (SCM), Rural and Agri Business Management (RABM), Family Business Management (FBM), Technology Management (TM), Banking and Insurance Management (BIM), Healthcare Management (HM), Entrepreneurship Development (ED), Services Management (SM), Retail Management (RM), Digital Media & Communication Marketing (MC), Tourism and Hospitality Management (THM) and Defence Management (DM).
The new specialisations are being offered in addition to the existing subjects of Marketing Management (MKT), Financial Management (FIN), Information Technology Management (IT), Operations Management (OPE), Human Resource Management (HR) and International Business Management (IB).
“Not only will the student gain theoretical knowledge of that subject, but he/she will also get to do internships in industries and businesses directly related to the subject matter. For example, if someone opts for FBM, then they can do an internship in their family business. They can suggest ways to expand it or develop it with their newfound knowledge or skills. They can even join some other business house for internship, and gain some experience that will help their family business in the long run,”