Last updated on December 19th, 2024 at 06:30 am
ISB PGP MFAB Admission : Complete Guide
The Indian School of Business (ISB) offers the Post Graduate Programme in Management for Family Business (PGP MFAB), an exclusive 15-month programme tailored for the next generation of family business owners. With its specialised curriculum, exceptional faculty and accomplished peer network, the PGP MFAB programme provides next-gen business heirs with a strategic edge to lead their family enterprises successfully into the future.
Let’s understand what the programme entails and how you can get admission into this prestigious course.
Overview of ISB PGP MFAB
The PGP MFAB programme is conducted across ISB’s state-of-the-art campuses in Hyderabad and Mohali. The modular structure of the course allows participants to spend time in their family businesses while pursuing the program.
Specialised Curriculum
The PGP MFAB curriculum is designed to equip next-gen leaders with strategic skills to steer their family enterprises successfully by:
- Enhancing leadership, governance and succession planning capabilities.
- Building professionalisation frameworks and formal processes.
- Developing financial and investment understanding.
- Expanding into new markets and digital transformation.
- Strengthening risk management abilities.
The core courses include family business management, strategy, finance, marketing, operations, entrepreneurship, etc.
Teaching Methodology
Pedagogy gives equal importance to theory and practice.
- Harvard case study method and real-life business scenario simulations impart practical wisdom.
- The Capstone project in the second year and the Family Business Project help apply learnings to your own business.
- Additionally, the program offers a two-week international immersion to Silicon Valley and Europe.
The peer network is equally stellar, letting you interact with next-gens from eminent business families across the country.
ISB PGP MFAB Eligibility Criteria
To be eligible for PGP MFAB, you need:
- Bachelor’s degree or professional qualification like CA, CFA, etc.
- No minimum work experience requirement. But 2-3 years is preferred.
- Membership in a family business you intend to carry forward.
Preferred Qualifications:
- 2-3 years of work experience in the family business
- Knowledge of the family business
- Inclination towards business and achievement
ISB PGP MFAB Selection Process
The PGP MFAB selection comprises:
- Online application – Submit required documents and essays
- Business Admissions Test (BAT) – Assesses analytical thinking
- Personal interview – Evaluates motivation and leadership vision.
Admission decisions are made based on holistic evaluation across these parameters by the admissions committee.
Interview Preparation Tips
Since the personal interview carries significant weightage, preparing thoroughly for it is important:
- Research the ISB PGP MFAB programme in-depth and align your career goals to it.
- Be thorough with your family business – history, financials, strengths, challenges, and plans.
- Brush up your knowledge of current affairs, business concepts, and management best practices.
- Practice mock interviews to identify gaps and improve communication skills.
The interview panel aims to assess your leadership potential, analytical thinking, commitment to family business and fit for the programme.
Application Deadlines
There are two PGP MFAB application rounds with deadlines:
Round 1 – November 5, 2023
Round 2 – January 21, 2024
Candidates can apply through the ISB admissions portal, and the application fee is INR 15000. We recommend applying in Round 1 to maximise your chances.
ISB PGP MFAB Application Process
The PGP MFAB admission process involves the following steps:
Step 1: Meet Eligibility Criteria
Applicants must first ensure they meet all the eligibility criteria. Having the requisite family business background and work experience is critical.
Step 2: Prepare Application Documents
The required documents include:
- Application form
- Essays
- Letters of recommendation (LOR)
- Test scores – GRE or GMAT Score
- Academic transcripts
- Family business details
The essays allow applicants to showcase their aspirations, leadership potential, and commitment to family business. LORs and test scores also play an important role.
Step 3: Submit Online Application
Applicants have to submit the application form and documents online through the ISB PGP MFAB admission portal. Applications open in August-September for the next academic year.
The below-listed documents are to be scanned and uploaded with the application:
- Colour photograph
- Copy of Passport
- Grade 12 marksheet/transcript
- Bachelor’s degree marksheets/transcripts (all semesters/years)
- Bachelor’s Degree Certificate
- Marksheets/transcripts and certificates for additional education (if applicable)
Step 4: Interview Shortlist
Based on the application, ISB shortlists candidates for a personal interview. The interview focuses on family business scenarios and gauging fit for the program.
Step 5: Final Admission Decision
The final admission decision is based on a holistic evaluation of the applicant’s profile, interview performance, test scores, essays, and recommendations. The admission offers are released by November-December for the batch starting next April.
ISB PGP MFAB Fees and Financing
The PGP MFAB programme fee for the 2024-25 batch is ₹42,13000 plus taxes and additional expenses. ISB facilitates education loans, and sponsorships can be availed from family businesses.
The exponential ROI from expanding leadership abilities and strategic expertise makes this exclusive program an invaluable investment.
Final Thoughts
The ISB PGP MFAB is an excellent opportunity for next-gen from family businesses to equip themselves for leadership roles. The personalised curriculum, exceptional peer network, and research-driven faculty provide a world-class management education tailored to family business needs. Business families must encourage their next-gen to gain these capabilities early on for a smooth generational transition and sustained success.
Shaifali Bhardwaj
Content Writer
About Author
A people- and story-person, Shaifali enjoys crafting narratives inspired by the life of people she meets. She likes to read autobiographies and fiction, indulge in some YRF drama, and even spin stories inspired by everyday objects (like her work desk). Stories being her oxygen, she began her career with HT Media, where she wrote health and entertainment news stories, and later started helping students write and edit essential application documents like statements of purpose. This fulfilled her desire to uncover unique stories and articulate them in the most compelling manner, while forming lasting bonds with her students. Presently with Career Launcher Study Abroad, she’s expanding her skills in website content and copywriting to advance in her field. On weekends, you may find her at a dance workshop or requesting weekday leaves for trekking adventures.
