Kirloskar Institute to start management training for family run business

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Also, to start a specialized program in Business Analytics

Pune, February 28: Most of the businesses in India are family run. New generation gradually takes over from the earlier generation and runs the business. In today’s scenario, where the dynamics of business is undergoing a rapid change it is important to have specialized management education programs for the segment mentioned above. Identifying this need, the Kirloskar Institute of Advanced Management Studies (KIAMS) is introducing a specialization in ‘Entrepreneurship for Family Run Business’ in their 2 years full time, AICTE approved, residential post graduate diploma in management.

The expertise gathered by the Kirloskar Family, which has been successfully running various businesses across multiple generations would be utilized to nurture the upcoming generations of families who are already into busines. Considering the future trends, a specialization in Business Analytics will also start at KIAMS from the upcoming academic year, along with the 15 month weekend course in Business Analytics for working professionals.

An announcement to this effect was made by Atul Kirloskar, Chairman of the Kirloskar Group and Member of the Governing Council of KIAMS during a Press Conference held in the city today. Amarshekhar Bhonagiri (Vice President – KIAMS), Pankaj Roygupta (Program Director – KIAMS) and Pradip Kopardekar (Finance Head – KIAMS) were also present on the occasion.

Speaking on the occasion Atul Kirloskar said, “There are plenty of good management schools running various post graduate management programs. However, there are not many who understand the need for entrepreneurship for family run business and design the program specific to it. Such programs are common in US and UK, which only few ones can afford.”

“KIAMS is the only institute in India which is run by a business family and thus we feel it is appropriate on our part to offer this specialization, which will now open an all new, beneficial educational opportunity for the new generations of business families. These programs would be ideal for the young generation of the families that belong to small and mid size segment having a turnover below 250-300 Cr. This slab consists of most of the family run businesses. In the recent budget the Finance Minister has also announced certain benefits to them”, he added.

Sharing the details of Business Analytics specialization which would also be starting from the upcoming academic session Amarshekhar Bhonagiri said, “Technology is not only changing with fast pace but is also changing the way we live and do our business. Business intelligence and predictive intelligence is extracted from the data captured from every aspect of business activities and is used for decision making. The global data science market stands at $100 Billion. In India it is about $2 Billion annually.”

“The Indian data science market is growing steadily by about 23.8% as compared to 30% of global market. Considering the growth, there is likely to be a great demand for skilled manpower in this segment. According to a McKinsey report there is a shortfall of 1.9 Lac data scientists and about 1.5 million data managers in US alone. Thus, a specialization for Business Analytics is definitely a need of the hour and we wish to be the bridge for all those youngsters with analytical mind who wish to grab this opportunity”, he added.

“Both of the above are the new specializations that are going to be introduced from the upcoming academic year. Selection procedure and eligibility criteria can be checked from the website of the institute. There are about 15 fellowships of Rs.1 Lac each sponsored by the Institute and are offered to meritorious students. KIAMS is also one of the few premier institutes alongside the IIMS which has been approved by the State Bank of India (SBI) for an educational loan upto Rs.20 Lac without any collateral”, informed Pankaj Roygupta.

About KIAMS – Started in 1991 by the Kirloskar Group as an initiative of Shri S. L. Kirloskar, it started providing full time management education programs in 1998 at Harihar in Karnataka. The Pune campus (Village Dhamane, Taluka Maval) became operational in 2010. Two years full time, residential, post graduate diploma in management is offered here with specializations like Finance, Marketing, HR, Operations, Business Analytics and Entrepreneurship for family run business.

KIAMS is one of the few institutes in India which is run by an industrial house. Thus students are exposed to industry integrated learning. The campus placement record of the institute has been close to 100%. So far 1682 students have taken education from the institute including Harihar and Pune.