MFAB – Management for Family Business

Master of Family Business Administration (MFAB) is designed for family business owners and next-generation leaders who want to manage their family businesses effectively.

ISB MFAB Deadlines:

R2 – Sunday, March 19, 2023

Essay 1: Why do you intend to pursue PGP MFAB program? (500 words max)

This essay is trying to ask you what is your motivation for pursuing MFAB program. While you are already a part of family business, you understand that there are certain management competencies that either cannot be learnt at work at all or will take a long time to learn. Hence you believe that a formal management program at this stage will help you take your family business to greater heights. This is precisely the case that you have to make for yourself, through this essay.

In this essay you also have to include the specific offerings of MFAB that would benefit you; for example, in the MFAB program, networking with fellow students, all of whom are part of family businesses, is clear objective outcome. Apart from this, a formal introduction to various fundamental management disciplines and the knowledge imparted by competent faculty who are themselves not just preachers but practionars of these management disciplines, should also be highlighted as some of the key reasons for your interest in this program.

Essay 2: Describe an important initiative that your business has undertaken during the past 5 years. Explain why you consider it important. You may share an initiative taken by your company even if you were not necessarily involved or associated with it. (500 words max)

MFAB program is specifcially targeted to those professionals who are already part of their family businesses. Through this essay, ISB wants to know whether you have been a part of an important initiative that your business has undertaken.

In fact, If you have recently joined your family business and have not been the driver of any initiative, the school is completely fine with you narrating an initiative that your business has taken in these last years. Through this essay, ISB wants to know how forward thinking your family business is and how amenable it is, to take initiatives that result in perceptible changes.

Essay 3: According to you, what are the main challenges faced by your business and how would you address them? (500 words max)

Take this essay as an opportunity to make an impression about your overall understanding of the specific Business environment that your family business operates in. This essay is basically asking you to perform a SWOT analysis (Strength, Weakness, Opportunities, and Threats) for your family business.

Through this essay, make sure you highlight the key challenges that your business faces and your plan in terms of what you think would be the best way to overcome those challenges. Make sure that while you are high lighting the challenges, you also make a case that these challenges can actually be converted into opportunities; after all, every challenge is an opportunity in disguise.

You could also perhaps take this essay as an opportunity to make a case that your plan to address those challenges also includes the decision to pursue MFAB, so that you are better skilled and equipped with formal management frameworks, so as to introduce cutting-edge management practices into your family business.

Essay Tip #1
Treat essays no differently from critical reasoning: There should be a logical flow of ideas and coherent cause and effects. Statements loosely "hanging in the air" disrupt the flow of the entire essay.

Essay Tip #2
Even if you are not seeking professional editing services for your essays, make sure you send across your essays to at least two people, whose judgment and expedience you trust. Essentially it is important to get an Independent third-party view of your essays.

Essay Tip #3
Applicants should be wary of mentioning philanthropic activities or stipulate ambitions of Entrepreneurship, just in the hope of winning favor with Admissions committee. Unless you have a strong case to make, such claims actually have a reverse effect, making your entire application weak.