SPJIMR celebrates 25 Years of its Family Managed Business programme
Mumbai : SP Jain Institute of Management and Research (SPJIMR) is celebrating 25 years of successfully running India’s pioneering and prestigious management programme for the next generation of family enterprises. The Post Graduate Programme for Family Managed Business (PGP-FMB), under the aegis of SPJIMR’s Center for Family Business and Entrepreneurship, has now more than 4000+ alumni, several storied brands and influences thousands of family businesses within India as well as neighbouring countries like Nepal.
The programme, launched in 1997, was pathbreaking and sought to raise awareness of the importance of the family enterprise as a business model. India is only behind China and the USA for the highest number of family-owned businesses and they constitute 60-70 per cent of the GDP. SPJIMR realised the importance of formal management education for the next generation to lead and expand the multi-generational business and also innovate via entrepreneurship. The modular programme offers a curriculum which focuses on experiential learning, with renowned faculty at the helm to groom and skill family business leaders to carry forward their complex enterprises. This design was pathbreaking and has been loved by students.
Some of the notable alumni of CFBE are from families that own Naturals Icecreams, RR Kabel, Siyaram, Shemaroo, Vicco, Jyothy Laboratories, Safex Fire Services Ltd., Baidyanath, Chitale and Lagu Bandhu. In 2018, the alumni family businesses cumulatively accounted for more than 30 billion USD of net worth, employing more than 200,000 within their enterprises, and contributed to USD 10 billion worth of exports.
Kicking off the silver jubilee celebrations at SPJIMR, Mr Harsh Mariwala, founder and Chairman of Marico, noted the need for a culture of innovation and governance for family businesses. “If you have to succeed in the marketplace, you need to innovate, not just to launch a product but also on a perpetual basis.” He emphasized the values of trust and transparency within small businesses.
SPJIMR Dean, Dr Varun Nagaraj, noted that “Growth and scaling up of businesses should also ensure that such growth creates value for the society. This is the guiding principle of management education at SPJIMR.”
Executive Director, Dr Tulsi Jayakumar, recounted the history of the Centre and its various programmes. “We were the pioneers in entrepreneurship and family business. We are the leaders in the space today”, she said.
Mr Vivek Chinoy, Director, Sigma CapSeal, and an alumnus of the PGP-FMB programme said, “SPJIMR’s FMB was a life-changing experience. It changed the way we looked at and ran our businesses. We have made friends for life here, whom we can depend on for anything in both our personal and business lives.”
A series of knowledge sessions, Fireside Chats, sports and other events are planned throughout the year across various locations, led by the FMB alumni board. The year-long celebrations will culminate in a grand finale – the “FMB Connect”- and will also witness an awards function, celebrating the achievements of SPJIMR’s FMB alumni. The goal is to raise a toast to family entrepreneurship- the lesser recognised and feted form of entrepreneurship.