BBA 432 Family Business Management Notes cover all 4 units of the GGSIPU BBA (Hons.) Semester 8 elective in 37 pages, with 25 comparison tables, 4 Quick Revision boxes and 34 exam questions listed unit by unit. They follow the revised NEP scheme that applies from academic session 2024-25 and come as a printed book.
Written and reviewed by Sheetal Kirola, Academic Head, M.Ed., 7 years of experience · Checked against the BBA Scheme & Syllabus (NEP Based, Revised, w.e.f. 2024-25) on 13 October 2026 · Updated 14 October 2026 · Editorial policy
Scheme: BBA Scheme & Syllabus (NEP Based), Revised | Applies to: academic session 2024-25 onwards | Verified against: BBAwef2024_25_200125.pdf, 13 October 2026
BBA 432 Family Business Management at a glance: GGSIPU BBA Sem 8 credits, units and exam pattern
BBA 432 is one of three Major electives a BBA (Hons.) student picks in Semester 8, listed under the Entrepreneurship Development specialisation. Its compulsory and elective neighbours are listed with the other GGSIPU BBA Semester 8 papers.
| Code and title | BBA 432 Family Business Management |
|---|---|
| Course and semester | BBA (Hons.), Semester 8 |
| Category and credits | Discipline Specific Course / Major elective · 4 credits · L-4, T-0 |
| Marks | 100: 40 internal (class test 15 + activities 25) + 60 end-term |
| Applies to | Academic session 2024-25 onwards |
| End-term pattern | Paper-setter instructions not printed in the official PDF |
| Units | 4 (15 hours each) |
| Paired lab | None (theory paper) |
BBA 432 Family Business Management Notes unit-wise: 37 topics, 25 tables and 34 exam questions across 4 units
These GGSIPU BBA Sem 8 Family Business Management notes follow the official unit order, from family business theories in Unit I to culture change and Organisation Development in Unit IV. Each unit ends with a Quick Revision box and exam questions marked 5 or 10 marks. Notes for the other papers of this course are under GGSIPU BBA notes.
BBA 432 Unit 1: Introduction to Family Business
Pages 4-13, 9 sections. Starts with Poza and Daugherty's "unique synthesis" and the three-generation rule with John Ward's survival figures, then the Two-Circle and Tagiuri-Davis Three-Circle models (seven sectors), agency vs stewardship theory, nine advantages including familiness against nine challenges, genogram symbols, family messages and the four ECI-U clusters. 7 tables, 9 exam questions.
Quick look: agency vs stewardship theory (from page 9)
| Basis | Agency | Stewardship |
|---|---|---|
| Manager is | Self-interested | Trustworthy |
| Motivation | Money, perks | Achievement, legacy |
| Control | Monitoring, incentives | Trust, empowerment |
| Time horizon | Short term | Long term |
Quick look: agency and stewardship theory compared (from page 9)
- Basis
- Manager is
- Agency
- Self-interested
- Stewardship
- Trustworthy
- Basis
- Motivation
- Agency
- Money, perks
- Stewardship
- Achievement, legacy
- Basis
- Control
- Agency
- Monitoring, incentives
- Stewardship
- Trust, empowerment
- Basis
- Time horizon
- Agency
- Short term
- Stewardship
- Long term
BBA 432 Unit 2: Ownership Challenges and Family Governance
Pages 14-21, 7 sections. Owners vs managers on six points, Poza's four shareholder priorities (liquidity, growth, control, risk-return), ten shareholder duties, governance bodies and the board's role under the Companies Act, 2013 and SEBI LODR, ten governance challenges, nine succession steps and a twelve-row strategic fit table. Family governance structures are in the excerpt below. 5 tables, 8 exam questions.
Quick look: governance across generations (from page 18)
| Stage | Ownership | Governance |
|---|---|---|
| 1st generation | Controlling owner | Informal; founder decides |
| 2nd generation | Sibling partnership | Family meetings, partnership agreement |
| 3rd generation + | Cousin consortium | Assembly, council, constitution, independent board |
Quick look: ownership stage and typical governance (from page 18)
- Stage
- 1st generation
- Ownership
- Controlling owner
- Governance
- Informal; founder decides
- Stage
- 2nd generation
- Ownership
- Sibling partnership
- Governance
- Family meetings, partnership agreement
- Stage
- 3rd generation +
- Ownership
- Cousin consortium
- Governance
- Assembly, council, constitution, independent board
BBA 432 Unit 3: Successor Development
Pages 22-27, 5 sections, the shortest unit. Ten traits of next-generation leaders, Poza's right-fit test of attributes, interests and abilities, five sibling personality types, the CEO's ten tasks as architect of succession, Sonnenfeld's four departure styles, Poza and Messer's six CEO spouse types and six stages of transfer of power. 5 tables, 8 exam questions.
Quick look: founder vs next-generation leader (from page 22)
| Basis | Founder | Next-gen leader |
|---|---|---|
| Style | Intuitive, centralised | Analytical, team-based |
| Authority from | Ownership, effort | Competence, acceptance |
| Decisions | Quick, individual | Consultative, data-based |
| Challenge | Letting go | Escaping the founder's shadow |
Quick look: founder and successor styles (from page 22)
- Basis
- Style
- Founder
- Intuitive, centralised
- Next-gen leader
- Analytical, team-based
- Basis
- Authority from
- Founder
- Ownership, effort
- Next-gen leader
- Competence, acceptance
- Basis
- Decisions
- Founder
- Quick, individual
- Next-gen leader
- Consultative, data-based
- Basis
- Challenge
- Founder
- Letting go
- Next-gen leader
- Escaping the founder's shadow
BBA 432 Unit 4: Strategic Planning and Transgenerational Entrepreneurship
Also covered as "Strategic Planning, Transgenerational Entrepreneurship and the Future of Family Business". Pages 28-37, 16 sections. Part A: business, ownership and family life cycles, VRIN core competencies, socio-emotional wealth, strategic regeneration, the Business Rejuvenation Matrix and intrapreneurship. Part B: three states of evolution, Dyer's four cultures, Lewin and seven OD interventions, commitment planning and institutionalising change. 8 tables, 9 exam questions.
Quick look: the change formula D × V × F > R (from page 34)
| Letter | Meaning | Example |
|---|---|---|
| D | Dissatisfaction | Falling profits, conflict |
| V | Vision | Shared family vision statement |
| F | First steps | Forming a board, hiring a CFO |
| R | Resistance | Founder's fears |
Quick look: Gleicher's change formula in a family firm (from page 34)
- Letter
- D
- Meaning
- Dissatisfaction
- Example
- Falling profits, conflict
- Letter
- V
- Meaning
- Vision
- Example
- Shared family vision statement
- Letter
- F
- Meaning
- First steps
- Example
- Forming a board, hiring a CFO
- Letter
- R
- Meaning
- Resistance
- Example
- Founder's fears
BBA 432 exam corner: 25 ten-mark and 7 five-mark exam questions by unit
Each unit of the BBA 432 notes ends with an "Important Exam Questions" list.
| Unit | 5 Marks | 10 Marks | 5/10 Marks | Tables |
|---|---|---|---|---|
| I | 2 | 6 | 1 | 7 |
| II | 1 | 6 | 1 | 5 |
| III | 2 | 6 | 0 | 5 |
| IV | 2 | 7 | 0 | 8 |
| Total | 7 | 25 | 2 | 25 |
BBA 432 exam questions and tables per unit
- Unit
- I
- 5 Marks
- 2
- 10 Marks
- 6
- 5/10 Marks
- 1
- Tables
- 7
- Unit
- II
- 5 Marks
- 1
- 10 Marks
- 6
- 5/10 Marks
- 1
- Tables
- 5
- Unit
- III
- 5 Marks
- 2
- 10 Marks
- 6
- 5/10 Marks
- 0
- Tables
- 5
- Unit
- IV
- 5 Marks
- 2
- 10 Marks
- 7
- 5/10 Marks
- 0
- Tables
- 8
- Unit
- Total
- 5 Marks
- 7
- 10 Marks
- 25
- 5/10 Marks
- 2
- Tables
- 25
The BBA 432 notes list 25 ten-mark and 7 five-mark exam questions across 4 units, plus 2 that can be set for 5 or 10 marks.
- Unit I: Explain the three-generation rule. Why do most family businesses fail beyond the third generation? (10 marks)
Pointer: meaning, the founder-children-grandchildren table, seven failure reasons and five fixes (pages 5-6).
- Unit II: Explain strategic fit and its implications for family firms. (10 marks)
Pointer: the twelve-element table (page 20) and six implications.
- Unit III: Describe the types of CEO spouse and their role in the transfer of power. (10 marks)
Pointer: the six-type table (page 26), then the six handover stages.
- Unit IV: How do life cycle stages of business, ownership and family influence strategy? (10 marks)
Pointer: three life cycle tables (pages 28-29) and Carlock and Ward's parallel planning.
More practice sits in the BBA 432 important questions.
Family council and family constitution in family governance: excerpt from page 17 of the BBA 432 notes
Excerpt from page 17 (Unit II, section 4: Family Governance: Structure)
Family governance is the set of structures and agreements that help a business family organise itself, talk openly, take decisions about its link with the business and settle conflicts. In the three-circle model, it manages the family circle, while the board looks after the business circle.
(a) Family meeting
An informal gathering of family members, common in the first and second generation. Business news, values and plans are discussed, often around the dinner table.
(b) Family assembly
A formal forum of all family members above a set age, often including in-laws. It meets once or twice a year to share information, celebrate the family's heritage, educate the next generation and approve the family constitution.
(c) Family council
A smaller elected body of 5 to 9 members representing different branches and generations. It is the working body of family governance. Its jobs:
- drafting and updating the family constitution;
- setting the family employment policy and compensation rules;
- planning education and career development of the next generation;
- coordinating with the board of directors;
- resolving family conflicts;
- managing family philanthropy and the family office.
(d) Family constitution (family charter or protocol)
A written document stating the family's vision, mission, values and rules about the business. It is a moral, and sometimes legal, agreement. A typical constitution covers:
- the family's values and mission statement;
- entry rules for family members (education, outside work experience);
- share transfer, dividend policy and shareholder exit;
- the roles of the family assembly, family council and board;
- the succession process and retirement age;
- a conflict-resolution mechanism and a code of conduct.
(e) Family office
A professional entity that manages the family's wealth, investments, taxes, legal matters, philanthropy and education, kept separate from the operating business. It is common in wealthy Indian families; Premji Invest, set up for Azim Premji, is the example used in the notes.
Do the BBA 432 notes cover the full GGSIPU syllabus?
Yes. Every topic in the four official BBA 432 units has a matching section in the notes; we found no gap. The official PDF has no separate unit titles, so each unit's first heading is used as its title.
| Official unit | Official topics | Where in the notes | Status |
|---|---|---|---|
| I: Introduction to Family Business | Unique synthesis; three generation rule; systems, agency and stewardship theories; competitive challenges and advantages; genograms; ECI-U model | Sections 1-9, pages 4-12 | Covered |
| II: Ownership Challenges and Family Governance | Shareholder priorities; shareholder responsibilities; shareholder-firm governance; family governance; succession challenges; twelve elements of strategic fit | Sections 1-7, pages 14-20 | Covered |
| III: Successor Development | Next-generation leaders; attributes, interests and abilities; managing interdependence; CEO as architect of succession; types of CEO spouse | Sections 1-5, pages 22-27 | Covered |
| IV: Strategic Planning and Transgenerational Entrepreneurship | Life cycle stages; core competencies; strategic regeneration; Rejuvenation matrix; intrapreneurship; three states of evolution; change formula; OD approaches; commitment planning; institutionalising change | Sections 1-16, pages 28-36 | Covered |
BBA 432 official topics mapped to the notes
- Official unit
- I: Introduction to Family Business
- Official topics
- Unique synthesis; three generation rule; systems, agency and stewardship theories; competitive challenges and advantages; genograms; ECI-U model
- Where in the notes
- Sections 1-9, pages 4-12
- Status
- Covered
- Official unit
- II: Ownership Challenges and Family Governance
- Official topics
- Shareholder priorities; shareholder responsibilities; shareholder-firm governance; family governance; succession challenges; twelve elements of strategic fit
- Where in the notes
- Sections 1-7, pages 14-20
- Status
- Covered
- Official unit
- III: Successor Development
- Official topics
- Next-generation leaders; attributes, interests and abilities; managing interdependence; CEO as architect of succession; types of CEO spouse
- Where in the notes
- Sections 1-5, pages 22-27
- Status
- Covered
- Official unit
- IV: Strategic Planning and Transgenerational Entrepreneurship
- Official topics
- Life cycle stages; core competencies; strategic regeneration; Rejuvenation matrix; intrapreneurship; three states of evolution; change formula; OD approaches; commitment planning; institutionalising change
- Where in the notes
- Sections 1-16, pages 28-36
- Status
- Covered
Official source: BBA Scheme & Syllabus (NEP Based, Revised, w.e.f. 2024-25), pages 229-230 for BBA 432 and page 22 for the Semester 8 elective list.
The same unit-to-page check used for BBA 432 is applied to every course listed under GGSIPU notes.
Who writes and checks the BBA 432 Family Business notes?
- Sheetal Kirola, Academic Head, Unnati Educations: wrote and reviewed the BBA 432 notes. M.Ed., 7 years of experience. Profile.
These BBA 432 Family Business Management IPU notes are mapped to the revised NEP scheme of 2024-25. The 2026-27 edition covers Units I to IV in 37 pages with Indian cases such as the 2024 Godrej family settlement and Murugappa's rotating leadership. Last updated 14 October 2026. See our editorial policy.
The same team prepares GGSIPU important questions for BBA 432 and the other Semester 8 electives.
BBA 432 and the GGSIPU BBA Sem 8 papers it connects to
BBA 432 has no paired lab; every semester's paper list is on the GGSIPU BBA syllabus page.
Semester 8 also has BBA 402 Research Ethics and Writing and BBA 404 AI and ML in Business (compulsory), plus BBA 434 Business Valuation for Startups and BBA 436 Government & Institutional support system for MSMEs in the same specialisation.
| BBA 432 unit | Related paper |
|---|---|
| Unit IV: intrapreneurship and new ventures | BBA 434 Business Valuation for Startups |
| Unit I: small family firms and kirana shops | BBA 436 Government & Institutional support system for MSMEs |
| Unit IV: strategic regeneration plans | BBA 433 Research and Development of Business Plans (Sem 7) |
BBA 432 units and the related papers they feed
- BBA 432 unit
- Unit IV: intrapreneurship and new ventures
- Related paper
- BBA 434 Business Valuation for Startups
- BBA 432 unit
- Unit I: small family firms and kirana shops
- Related paper
- BBA 436 Government & Institutional support system for MSMEs
- BBA 432 unit
- Unit IV: strategic regeneration plans
- Related paper
- BBA 433 Research and Development of Business Plans (Sem 7)
How to write BBA 432 answers: ten-mark theory answers, comparison tables and short notes
BBA 432 is pure theory, so marks come from structure. A ten-mark answer needs four parts: a two-line definition naming the author (Poza, Tagiuri and Davis, Sonnenfeld), a table or list of 6-10 points from the notes, one Indian example, and a line linking back to succession. Draw the Three-Circle model as three overlapping circles with seven numbered sectors; the question bank asks for a diagram.
Short notes need a definition, three or four points and one example. Common slips: listing four CEO spouse types instead of six, and writing D + V + F > R instead of the product D × V × F > R, where any zero stops change.
Worked example (5 marks): Explain Sonnenfeld's four CEO departure styles.
- Definition: Sonnenfeld's The Hero's Farewell groups CEO exits into four styles.
- Monarch: stays till death or is forced out; no successor developed.
- General: leaves unwillingly, plans a comeback; undermines the successor.
- Ambassador: leaves gracefully, stays as mentor.
- Governor: fixed term, then a clean exit.
Practise this format on GGSIPU BBA important questions.
BBA 432 Family Business notes FAQs
How do I get the full BBA 432 notes?
Tap "Get Full Notes" to message us on WhatsApp at 9899436384. The full BBA 432 notes come only as a printed book, not as a PDF. Delivery takes a maximum of 5 to 7 days, and the rest depends on your location.
Is BBA 432 compulsory in BBA Semester 8?
No. BBA 432 is a Major elective. BBA (Hons.) students choose three Semester 8 electives from their specialisation, and BBA 432 sits under Entrepreneurship Development with BBA 434 and BBA 436. The scheme says electives are offered at the college's or university's discretion, so check your college's list before buying. It is not offered on the Hons. with Research track.
What is the passing mark for BBA 432?
BBA 432 is marked out of 100: 40 internal and 60 end-term. The internal 40 is a 15-mark class test plus 25 marks for assignments, presentations or viva. The BBA scheme PDF does not print a pass percentage. End-term minimums and re-appear rules are set by GGSIPU Ordinance 11, available on ipu.ac.in, so check the latest copy there.
Do the BBA 432 notes follow the Poza and Daugherty textbook?
Poza and Daugherty's Family Business is the first suggested reading in the official BBA 432 syllabus, and the notes use its frameworks: the unique synthesis, shareholder priorities, the Business Rejuvenation Matrix and the CEO spouse types. They add Tagiuri and Davis, Sonnenfeld, Dyer, and Beckhard and Harris, rewritten in simple English. The notes are not a copy of the book.
Do the BBA 432 notes use Indian family business examples?
Yes. Each unit has Indian example boxes: Tata, Godrej and Murugappa breaking the three-generation rule, the 2005 Reliance split, the 2024 Godrej settlement, Haldiram's and Titan building on core skills, and next-generation leaders such as Roshni Nadar Malhotra and Nisaba Godrej. These fit straight into ten-mark answers. Each example is two or three lines long, so it is easy to remember.
Which batch does the BBA 432 syllabus apply to?
BBA 432 belongs to the revised BBA Scheme and Syllabus (NEP Based) that applies from academic session 2024-25. Semester 8 is in the fourth year of the four-year BBA (Hons.) programme. Students on an older scheme should check their own scheme on ipu.ac.in, because codes and units may differ. Three-year degree students exit after Semester 6 and do not take it.
Get the full BBA 432 Family Business Management Notes on WhatsApp
The full book has 37 pages, 25 comparison tables, 4 Quick Revision boxes and 34 exam questions. It is a printed book only, not a PDF.
| Part | Pages | Count |
|---|---|---|
| Cover and index | 1-3 | 3 |
| Unit I | 4-13 | 10 |
| Unit II | 14-21 | 8 |
| Unit III | 22-27 | 6 |
| Unit IV | 28-37 | 10 |
Pages per unit in the BBA 432 notes book
- Part
- Cover and index
- Pages
- 1-3
- Count
- 3
- Part
- Unit I
- Pages
- 4-13
- Count
- 10
- Part
- Unit II
- Pages
- 14-21
- Count
- 8
- Part
- Unit III
- Pages
- 22-27
- Count
- 6
- Part
- Unit IV
- Pages
- 28-37
- Count
- 10
These are Family Business Management notes in English, delivered as a printed book within a maximum of 5 to 7 days; the rest depends on your location.
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Unnati Educations is an independent education provider based in Vikaspuri, Delhi. We are not affiliated with, authorised by, or endorsed by Guru Gobind Singh Indraprastha University (GGSIPU). 'GGSIPU' and 'IPU' are used only to describe the syllabus our notes follow. For official information, visit ipu.ac.in.
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