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Why the Programme:

Entrepreneurs are managers, of course. However, there are several key differences between Entrepreneurs and Managers.

• Entrepreneurs usually take much greater risks (both Financial and Non-financial) than Managers.
• Entrepreneurs work in an highly unstructured and uncertain environment
• Entrepreneurs have to use much greater faculties of Management than a typical management job would involve
• Almost all Entrepreneurs are essentially Innovators; whether of a product, or a process or a new way of reaching out to the customer. A Manager's job may not involve innovation.

Therefore, when it comes to learning and applying Management, Entrepreneurship is in many ways a different ball game altogether.

Family business is a mix of Entrepreneurship and plain vanilla Management with some added complexities. Family businesses face the unique challenges including Governance, Succession Planning, Relationship with Shareholders and Tradeoff between Talent in the Family versus Professional Talent available outside.

The programme intends to bring not just the core and fundamental management concepts, but also specialized focus to the specific challenges that Entrepreneur and Family Businesses face.

Uniqueness
Several things make the course highly specialized, useful and one-of-its-kind.

• Opportunity for selected students to run a live business from the campus itself / work on their own family businesses on a live project
• Significant opportunity for deserving students to set up and run their own business (including funding help, mentorship, startup infrastructure), aided by KIIT University's Technology and Business Incubation centre (KIIT TBI) .
• Leading Entrepreneurs and National Achievers as Mentors / Advisors of the program.
• Workshops by Entrepreneurs / Family Business owners.

Other opportunities include Opportunity to work with International students (e.g. Roosevelt University) on sustainable business ventures for a social cause as part of Acara Challenge ( www.acarainstitute.org ).

Programme Details
The two-year full time residential MBA with concentration in Entrepreneurship intends to be quite different from the regular management Programmes. It would be highly focused on getting hands on experience in Entrepreneurship along with exposure to basic management courses. The Programme would involve extensive field work, internships, and live projects.

The Program would run under the close mentorship of KSOM's Entrepreneurship Center called KRADLE (KSOM Resource Centre for Advancement and Development of Entrepreneurship)

The course intends to:

• Widen the business perspective of the participants and improve their general understanding of how businesses function
• Help participants appreciate the different functions within a business and the role management plays in each of the functional areas
• Bring greater awareness of the Socio Economic environment and the impact it has on businesses/entrepreneurial ventures
• Equip participants with the knowledge of basic ingredients of starting a business including creating a business plan, creating the startup team, getting funding, sharing ownership, taking it to the markets and making investment and exit decisions
• Expose participants to the uniqueness of Family business and the issues therein (including their own Family businesses)
• Explain through case studies, examples and live projects the criticality of the dual role each of them would play (i.e. that of a owner and a manager) and how that would impact the family business

Participants
The intended participants for the course would include those who:

• Either run or would run a family business
• Want to start up on their own or join a startup or are taking a break from a startup

Program Delivery

First Year

• The first year of the course would include the generic concepts of Management including Basic Accounting and Finance, Strategy, Use of IT in management, Economics and Business Environment, Human Resource Principles, Quantitative Techniques, Business Communication, Ethics and Social Responsibility.
• The first year pedagogy would be a combination of class room teaching and project work/field visits.

Second Year

The second year would have elective courses that would focus exclusively on Entrepreneurship and FBM with greater emphasis on practical exposure and live projects.

• The participants from Family Business Houses would carry out several projects in their own organization to understand it better. These projects would be carried out under the guidance of an “Organization Mentor” who can be either of their Father/Mother, any other Relative in the business or a Senior Management Employee.
• Participants of the Entrepreneurship course can carry out live projects in their own desired venture to test its sustainability or take up another in a similar field (in case they don't want the venture to be disclosed)

The broad range of courses to be offered as electives during second year include:

• Creativity, Innovation and Innovation Management
• Managing Intellectual Property
• Opportunity Identification, Entry and Exit Strategies
• Starting a Small Business
• Funding the Enterprise
• Business Expansion Decision (Penetration, Alliance, Franchise etc.)
• Legal, Governmental, Societal Environment for Business
• Governance, Risk Management
• Understanding Family Business Dynamics, Issues, Challenges
• Impact of Family on the Business and vice versa
• Wealth Sharing and Growing
• Role and Succession Planning

Faculty

• Several of the faculty in the Second Year would be Practicing Entrepreneurs / Industry Experts.
• The program would be a high number of classes dedicated for Guest Lectures / workshops by Industry Experts, Investors, Consultants, Bankers, Entrepreneurs /Family Business Owners.

About KRADLE

KRADLE (KSOM Resource Centre for Advancement and Development of Entrepreneurship) aims to create an entrepreneurial culture in the School, motivating young minds to consider Entrepreneurship as a viable career option. In addition to providing the requisite knowledge resources by means of mentorship, guidance of experts, faculty consultancy, investor liaison, the Center also plans to eventually incubate promising business ideas by creating a corpus and providing for the initial infrastructure to run the venture.

MBA (Concentration in Entrepreneurship) would be offered under the aegis of the Centre.