IIM Lucknow has a Rs 20 crore rule for its new MBA for next-gen leaders

IIM Lucknow has launched a two-year MBA in Family Business for owners and successors preparing to lead family-run enterprises. Starting July 2027, the programme emphasises succession, governance and business growth.IIM Lucknow has a Rs 20 crore rule for its new MBA for next-gen leaders (AI generated image)New Delhi,Oct 12, 2026 16:30 ISTThe Indian Institute of Management, IIM, Lucknow has launched a two-year MBA in Family Business to prepare the next generation of leaders to manage, expand and transform family-owned enterprises. The programme is designed for business owners and successors seeking to strengthen their management skills, professionalise operations and ensure smooth leadership transitions.The programme will commence in July 2027. The last date to apply for Phase 1 is December 31, 2026, while applications for Phase 2 will close on April 2, 2027.According to the institute, the MBA will combine contemporary management education with practical learning focused on the challenges and opportunities faced by family enterprises. A key component will be a five-to-10-year Business Transformation and Growth Plan, enabling participants to develop long-term strategies for their businesses.PROGRAMME TO FOCUS ON SUCCESSION, GOVERNANCEFamily businesses play a significant role in India's economic growth, entrepreneurship and employment generation. However, leadership transitions, succession planning, governance and adapting to changing market conditions remain important challenges for many family-run enterprises. Welcoming applications from aspiring family business leaders across India, IIM Lucknow Director Professor M P Gupta said the programme aims to equip the next generation with the knowledge, strategic vision and leadership capabilities required to take their family legacies forward.He added that the initiative seeks to help transform family enterprises into professionally managed, future-ready organisations that create long-term value. The curriculum will cover core management disciplines, including strategy, finance, governance and digital transformation, alongside specialised subjects such as family business foundations, growth strategies, leadership in family-managed businesses, succession and generational transition, regulatory frameworks and strategic venture investing.SIX FAMILY BUSINESS LABS, GLOBAL EXPOSUREA key feature of the programme will be six Family Business Labs conducted across its six trimesters. These labs will progressively address enterprise diagnosis, vision and strategy, succession planning, leadership transitions, innovation and venture investing.The programme will also offer opportunities for global immersion, visits to international family-run enterprises, simulations and case-based learning. Selected workshops will involve parents, siblings and senior family members in discussions on succession and governance.Professor Garima Mittal, Chairperson of the MBA in Family Business at IIM Lucknow, said the programme aims to help participants build on their family legacies while driving innovation, adapting to change and creating lasting value.The initiative will also draw on the IIM Lucknow Enterprise Incubation Centre ecosystem to provide exposure to entrepreneurship, innovation, start-ups and industry practitioners.ELIGIBILITY AND PROGRAMME STRUCTURECandidates must hold a bachelor's degree or an equivalent professional qualification, such as CA, CS or ICWA, from India or abroad. They must have secured at least 50% aggregate marks or an equivalent CGPA in Classes 10 and 12, as well as in their undergraduate degree.Applicants must also be owners or successors of a family business or enterprise with an annual business investment or turnover of at least Rs 20 crore. Additionally, candidates must have a valid GMAT or GRE score, or a score from the IIM Lucknow Entrance Exam.Shortlisted candidates will be invited for a personal interview focusing on their involvement in the family enterprise, leadership ambitions and ability to apply the programme's learnings.The two-year MBA will follow an on-campus modular format, with participants attending classes at the institute's Noida campus for approximately seven days every month. The programme will span six trimesters over approximately 20 months and include 33.5 academic credits, including five audit credits.With its focus on succession planning, professional management and long-term business transformation, the programme aims to help family enterprises navigate generational change while preparing their next-generation leaders for an increasingly competitive business environment.- Ends