Jaipuria Lucknow rolled curtain raiser on Family Business and Entrepreneurship

JIML is one of a prominent institute of Uttar Pradesh to introduce a specialization area in Family Business domain.

Shivani
Published on: 7 Dec 2021 5:46 AM GMT
Jaipuria Lucknow rolled curtain raiser on Family Business and Entrepreneurship
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Lucknow: To nurture the seeds of Entrepreneurship within its budding managers, Jaipuria Institute of Management, Lucknow on Monday announced the launch of their new management program specialization in Family Business and Entrepreneurship which will train the future family business owners. The institute is introducing a thrust area in Family Business domain that will support established, new or aspirant family business leaders in learning and mastering the concepts and skills desired to circumnavigate the complexities of these multifaceted organizations. The thrust is targeted at members of small and medium family owned businesses in and around U.P. and aims to pioneer in this area of study in the state. JIML is one of a prominent institute of Uttar Pradesh to introduce a specialization area in Family Business domain.

The Institute has signed a Memorandum of Understanding (MoUs) with Indian Industries Association (IIA) Lucknow Chapter. The objective of this MoUs is to start a long-term collaboration in various areas of student growth and organization development by exchanging intellectual resources and infrastructure of the organizations.

The launch of programme started with the lighting of lamp by Dr. Kavita Pathak (Director, Jaipuria Lucknow). Dr. Pathak emphasized the importance of cognizance with the family business and entrepreneurship acumen, in a world that is open to innovation.

Dr. R.K Ojha, Dean Academics at Jaipuria Institute said that the proposed specialization on 'Family Business and Entrepreneurship' intends to develop and enhance an entrepreneurial mindset among students through entrepreneurial experiences within and outside the classroom and equip them with requisite skill set to manage the family business for its accelerated and sustained growth.

The keynote speaker for the day, Prof. Alfredo De Massis (Professor of Entrepreneurship & Family Business, Free University of Bozen-Bolzano Italy) said that family firms innovate in a different manner. Family firms are more effective at devising strategies that reconcile economic and non-economic objectives than had previously been recognized.

Mr. Mohit Suri (Chairman, Indian Industries Association Lucknow Chapter) said that Family Business are main pillars of Indian economy and world economy. Around 70 percent of India's GDP arises from family businesses. It is imperative to grow family businesses and transform.

Dr. Reeti Agarwal, Coordinator of Family Business at Jaipuria said, "Family businesses require focused managerial inputs…the introduction of a specialization area in family business and entrepreneurship is aimed at fulfilling the knowledge needs of family owned organizations"

In the end of the programme, an MoU was signed between Mr. Mohit Suri, Chairman, Indian Industries Association Lucknow Chapter and Dr. Kavita Pathak, Director Jaipuria Institute. Dr. Deepak Singh, Chairperson – Incubation Center at Jaipuria Institute then presented the memento to Mr. Suri.

This new add-on by Jaipuria Lucknow will definitely ensure fulfillment of untouched dreams, catering to the need of nation by bringing exquisite entrepreneurs and continuing the long-drawn history of Indian family business and entrepreneur. The immense growth in the domain of family businesses and start-ups is witnessed nationwide. It contributes to a huge percentage of global Gross Domestic Product (GDP). The family-owned businesses requires focused professional management input for their perpetual growth and astounding success. India has a long-drawn history of family businesses, Tata, Birla, Reliance, and Mahindra are the best examples in this field. The family businesses have their own challenges, one being the difficulty in moving from the one-person general management approach to professional management approach.

Benefits of the course

The course has been designed to equip family business leadership with a specific set of skills which enhances their competencies and conditions them to capitalize on opportunities and challenges. The next generation of family business leaders will gain a deep understanding of business operations, master the latest management methodologies, tools and techniques, enhance their leadership skills and help drive innovation to create a business that endures for generations. The course is considered to be V=Vital, E=Essential or D=Desirable and has been designed in such a way that it fulfills all the dreams for a new generation entrepreneur. The whole course will also involve certification courses, experiential learning and a deep insight in the world of start-ups and family business.

Shivani

Shivani

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