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New MBA Programs Help Keep Business In The Family

For many companies across the globe, demand for business education has surged. MBA programs are helping entrepreneurs keep business in the family.

Mon Jul 21 2014

BusinessBecause
Jonathan Seeyave’s late grandfather started his family's business in 1952. Seeyave Senior began by selling ice-cream, before moving into frozen foods on a large scale and rebranding the company as Happy World Group.

Today, the Mauritius-based business is a sprawling empire with a retail arm, a commercial property business, as well as shipping services and document managing services arms.

Before Jonathan joined the latter, it wasn't assumed that he would enter the family firm. “I worked in Japan at the time and I hadn’t been in Mauritius for a large part of my life; I left when I was ten to study in England,” he says.

Until today. “I wanted to discover the family business and get in touch with my family again,” he says. So Jonathan enrolled on the Global MBA program at ESSEC Business School in France. “It gives you an all-round set of skills for any business and really does develop those skills,” he says. “You can take it back to the family firm and see how it can develop or enhance the business.”

For many companies across the globe, demand for business education has surged as large family companies face succession challenges.

Family-owned firms make up 80% of all business enterprises in the United States and 75% of all businesses in Europe, according to the Family Firm Institute, an association for professionals serving the family enterprise field.

They also make up 80% of all companies in the Gulf and employ the majority of the region’s workforce.

As conglomerates move on to the third and fourth generations, family rivalries can set in as some business units outperform others. A business school program such as an MBA can help smooth out structural transition, and many MBA students are set to inherit business empires.

“Before the MBA I was working at the family business and… I was always in the background,” says Adnan Binmahfooz, whose family firm which sells staple foods in the Middle East, Salem Abdullah Binmahfooz Est, is seemingly in need of a manager.

“I needed to participate with senior-level executives and communicate ideas very clearly with buyers and clients in a more linear way,” says Adnan, who graduated from MIP’s Design and Luxury Management program last year. “The MBA helped my career exponentially.”

Future owners like Adnan are fuelling a demand among business schools for programs that can cater for their specific areas of need, such as asset management and leadership.

Swiss-based business school IMD plans to launch The Next Generation in November. The program, for younger family business executives, will have dual modules in Lausanne, Switzerland, and at the school’s campus in Singapore.

Western schools have been tapping into a rising demand for part-time degrees which family managers can study while running their firm’s operations.

These business education courses created for family executives were mostly only available to larger corporations. Several big-name brands including Mars Inc, the confectionary brand, and Enterprise Rent-A-Car are owned by families. But a new trend for offering courses to SMEs has emerged.

INSEAD of France established an Abu Dhabi campus in 2012, and its five-day Family Enterprise course focuses on governance and effectiveness.

Other European schools have sought to launch campuses in the Middle East, where links to family businesses remain strong. London’s Cass Business School opened a centre in Dubai in 2007. The school teaches succession planning as part of its corporate governance course in Dubai.

The trend is emerging further west. United States-based Columbia Business School rolled out a course on family enterprises and wealth in 2012. Enrolment has since doubled to 47 students last year.

Carolina's Kenan-Flagler Business School has two courses on family business, and Cornell University’s Johnson School plans to open a family business program, which will offer a speaker series for students and executives. Chicago's Quinlan School of Business has two classes for business owners and employees, capped at 12 people per 18-month class.

Leadership is one of the biggest draws for family business managers, says Santiago Hoyos, a student at ESSEC who is vice-president of his family’s manufacturing services company.

“I had a sense that I needed to acquire more skills in order to optimize the opportunities of the company,” he adds. “I wanted to learn how to manage people and incentivize them.”

Santiago’s grandfather founded their company, San Lorenzo S.A, about 40 years ago. They began in the automotive sector but the production has shifted to new products in the gardening industry as well as small engines which are used in lawnmowers.

He joined the Colombia-based firm in 2009 and rose through the ranks before joining business school last year.

“We have an established way of doing things at the company and I wanted to learn what the world is shifting to, and bring this knowledge back to propel the company to the next stage,” says Santiago. “ESSEC has given me that.”

Student Reviews

ESSEC Business School

Student

Verified

5/12/2023

On Campus

The best intercultural university

There are more than 50 nationality in the grade, so there are opportunities to interact with people from all around the world. In terms of academics, the BBA course offers diverse courses for the 1st

Student

Verified

6/04/2022

On Campus

Creativity, adaptability and entrepreneurship

The Master in Management program at the ESSEC Business School allows the students to choose their courses accordingly to their preferences and their professional targets. We can also go through international exchange and take part in internships with companies that are also partners with the school. The school is also next to the city of Paris.

Prithwiraj

Verified

17/11/2021

On Campus

Top business school in France

Doing PhD in essec took some time, to be precise about five years. But the experience was very good and cost effective too. There are opportunities for the student for teaching assistantship and that helps both financially and in career. In the final year I could manage to teach marketing to M1 students and this helped shape my career

Student

Verified

30/10/2021

On Campus

Great college

The program is well suited for early professionals with an engineering degree preferably or a degree in economics. I would suggest taking the ceasure irrespective of the experience level as it helps you take your time to adjust to the job market.

Student

Verified

30/10/2021

Blended

Good school in France

I am currently enrolled in M2 in Essec business school. I am specialising in marketing management. The Grande Ecole programme is valued in France and my school ranks very high up. There are a lot of opportunities for internships and CDD.

Student

Verified

9/02/2020

The program curriculum

BBA program. The program is really practical and useful, provide us many international opportunities. Like internship and humanitarian experience, and the flexibility is also really cool, we can choose different campus and tracks as we want.

Véronique

Verified

11/12/2019

International Course

This school is very international and business oriented. Highly recognized by the companies The campus has been renovated and is very functional and modern from now on. Excellent atmosphere. Reputation of essec is a plus

kevin

Verified

11/11/2019

Friends, Career opportunities.

The program I did gave me the opportunity to start in Singapore. I got the chance to know all the students that started there and we bonded and made some friends for life. The career opportunities that ESSEC also gave me were unbelievable.

Student

Verified

25/09/2019

Practical and useful

I think the best thing about Essec is that it's not focusing on academics rather it emphasizes on future job mindset and professional experiences.. The classes are interesting and we have plenty of workshops attributing to different sectors.. The campus is very nice with a good cafe and wonderful library. The only problem is the location of the campus. It's quite far from Paris.

Kartik

Verified

14/02/2024

On Campus

Amazing experience! Must try

I think its a very amazing school with great and experienced faculty. Also the alumni network is very solid and useful. The school has a great balance of studies and work experience which is really essential for a student.

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