Question 1

Who should apply for the Post Graduate Programme in Management - Family Business & Entrepreneurship program?

Accepted Answer

The PGPM – Family Business & Entrepreneurship (FBE) is a full time MBA program for individuals who are currently employed in their family business or running their own venture. The mba in entrepreneurship and family business course is also for people who are planning to join their family business in the near future.

Question 2

What is the eligibility criteria for the MBA in family business and entrepreneurship program?

Accepted Answer

A completed bachelor's degree as of May 2026. Should own/partially own a registered business entity, or be employed in their own immediate family's business. Valid test score in any one of – CAT, XAT, GMAT, NMAT; candidates without any of these scores can take the Great Lakes Aptitude Test (GREAT).

Question 3

How does the MBA in entrepreneurship and family business program help family business owners?

Accepted Answer

The PGPM – FBE, an MBA program for family business owners, helps family business owners effectively leverage family dynamics, integrate modern technology into business operations, strategy, finance and marketing, connect with other family businesses and startup owners across industries and build a network of potential partners, connect with venture capitalists, learn to build high performing teams and retain them, and build long term goals for expansion, diversification and globalization.

Question 4

What kind of mentorship is available in the PGPM - Family Business & Entrepreneurship program?

Accepted Answer

The PGPM – FBE at Great Lakes provides mentorship from distinguished Great Lakes faculty coming with diverse academic, industrial and entrepreneurial experience. This full-time on-campus MBA program also facilitates interactions with established entrepreneurs, venture capitalists and industry veterans offering rich real world perspectives. The curriculum also includes business plan competitions, live projects fully mentored by faculty & senior corporate leaders, business case pedagogy and start-up challenges which provide an exceptional hands-on learning experience.

Question 5

What international exposure does the PGPM - Family Business & Entrepreneurship program offer?

Accepted Answer

The PGPM – FBE program offers an international immersion at IÉSEG School of Management, Paris where students get a chance to experience cultural diversity, broaden their perspective beyond geographical boundaries, understand how international markets operate, and develop globalization goals.

Question 6

How does the PGPM - FBE program differ from a traditional MBA?

Accepted Answer

The PGPM – FBE is an MBA program for entrepreneurs and family businesses, providing them with learnings that would help an individual develop core skills needed to set up and/or run a business as an owner, instead of as an employee, attract and retain high quality workforce, and make a business profitable and sustainable.

Question 7

What career opportunities are available after completing the PGPM - FBE program?

Accepted Answer

Participants of the PGPM – FBE MBA program are entrepreneurs and family business scions who would be joining their own family business or venture post completion of the program, and the program is designed to orient them towards leading their businesses.

Question 8

How does the PGPM - FBE program help with business expansion and growth?

Accepted Answer

The PGPM – FBE helps you develop a network of fellow entrepreneurs and family business across industries, and provides you access to the Great Lakes alumni network, leading to connections which will potentially benefit ventures of participants in the form of expansion, diversification and globalization. The program also helps candidates interface and network with venture capitalists which could result in beneficial relationships for their business.

Question 9

Why is the duration of the PGPM - FBE of one year?

Accepted Answer

1 year MBA programs bring more rigour and hands-on learning, rich exchange of diverse perspectives among peers, and industry mentored projects that help participants assimilate and apply learnings in a shorter time, enabling future business owners to get into their businesses a year earlier. The one year format is very common in Europe and other parts of the world. In terms of the number of classroom hours, there is no significant difference between a two year course and a one year course. It is only advantageous to finish your course in less time and be ready to elevate your business.

Question 10

Is the PGPM - FBE a valid and recognized MBA program?

Accepted Answer

PGPM - FBE is an AICTE approved 1 year MBA program and is a specialized version of the Flagship PGPM of Great Lakes. Post completion of this MBA entrepreneurship course, candidates will receive a Post Graduate Certificate in Management, which is the same as provided on completion of Great Lakes flagship PGPM course. The PGPM is equivalent to MBA and is widely accepted across the industry.

Question 11

Should I join my family business directly or do an MBA in Family Business Management first?

Accepted Answer

Family businesses have a significant scope for growth, expansion and diversification, based on the nature of the business, by professionalization and integration of modern technology, best practices from the industry and data driven decision making. MBA programs, specifically the PGPM - FBE (Family Business & Entrepreneurship) offered at Great Lakes, is designed to help family business members learn general Family Business Management skills, key tech enablers that are driving the industry such as AI, Analytics, AR/VR, etc., and necessary leadership skills needed to build high performing teams and scale up their family business significantly.

Question 12

I come from a family business background. Should I join PGPM-FBE, PGDM, or Executive MBA?

Accepted Answer

If your goal is to gain specialized knowledge in managing and growing a family-owned business, the PGPM – FBE is the most suitable program. For early-career professionals seeking a foundation in general management, the PGDM program is ideal. If you are a mid- to senior-level professional aiming for leadership roles in family or other businesses, the Executive MBA offers advanced management and strategic skills while you continue your career.

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