MBA to help out in the family business

familymatt...

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Posted Feb 19, 2015 16:06

I'm looking for an MBA or other option that would help me improve my family's business. It's a relatively small and local business in the retail space with annual revenues of less than $5 million. I've been working in the business for 4 years, and now they are considering promoting me to a management position with more strategic oversight.

But before that happens I want to do some kind of MBA that will give me more insight into the high level picture. All I am really after is the education. Knowing that the value of many MBA programs is in networking and career services, it's hard for me to justify spending a ton of money on an MBA from NYU, which I know offers a program specifically designed for people working in family businesses.

Is there something that's a bit lower cost but will provide a solid education around these issues? Preferably in the US. Does anybody know anything about the EMBA for Families in Business from Kennesaw State University?

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Duncan

14.013 15.475

Posted Feb 19, 2015 18:22

Honestly, I am not sure if you nee the whole MBA to be about family businesses. There are lots of great MBAs with electives on family business. I'd look at those, and see how far other MBAs like allow you to customize with courses on the topics which those elective focus on entrepreneurship, leadership, communication, strategy, governance and so on.

There are also executive programmes, most obviously the OPM at Harvard, which are also aimed at leaders of family businesses.

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Inactive User

2.941 1.801

Posted Feb 23, 2015 11:42

Agreed, a general MBA would cover much of the important parts of what you'd need.

However, there would be some topics, like leadership of family organizations, management of relatives, etc., which are unique enough that they warrant specific coverage. Fortunately, many MBA programs provide electives that cover these topics, which I think would be enough... Stanford has a couple family business electives for instance, along with UNC (which also has a family business center), and UCLA Anderson.

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Duncan

14.013 15.475

Posted Feb 23, 2015 13:01

EDHEC also has a family business centre, which has launched full-time and executive tracks of a Global MBA for family business. The EMBA just launched, and includes a session at their campus in Singapore, so they have an international focus http://board.find-mba.com/general-forum/edhec-family-business-mba-has-its-first-intake-39967

If you're interested, I am an alum and can nominate you for a 10% recommendation scholarship.

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familymatt...

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Posted Feb 25, 2015 14:26

Wow, super information, thanks! That EDHEC program sounds interesting, but I think that I need to stay in the US.

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