Many people opt to join their family businesses instead of hooking or working in any other successful business or company after completion of courses such as an MBA. MBA is the most popular and famous business program all over the world. There are examples of many big businesses which were established by the older generation, and now the legacy is being carried out by the younger generation (Mbaknol.com, 2022). It is being observed that from the past two decades, the trend of joining family Businesses or maybe the legacy to carry the family business forward has become more prominent.
Q1. Why have you opted for a course in family business management? Are you part of a family business? Tell us a little about it.
Ans. I opted for a course in family business management because my family is into road construction business which is about a generation old . Before coming to London for my masters , I was a part of my family business . As i have done my undergraduation in Civil engineering , i am looking forward to contribute in my family road construction business .
Being from India, I can say that family business is a tradition that has existed over the centuries, and we like to participate in it because we grew up in that environment, thus that business is known to us like any other daily activity. But there is a need to understand family dynamics, need for knowledge, and management skills required to contribute to its growth. Hence, these courses are gaining popularity as they help the young generation to understand the values, knowledge, and skills required to join the family business.