Business environment surrounding the construction sector is becoming increasingly dynamic and complex. Political, economic, legislative, and international components of the business environment continue to change. These changes offer opportunities as well as threats to large firms managed by professionals as well as family owned construction firms. The impact on family owned construction business firms is in fact more pronounced. Families owning construction business firms would look forward to enhance the managerial as well as leadership abilities of their family members so as to scan the business environment, forecast changes and make necessary suggestions for preparedness, innovate, expand markets and diversify into new related business. NICMAR Business School (NBS) introduced a programme in management of family owned construction business that would provide focused inputs in these aspects of construction business. We consider family owned businesses as those businesses which are owned by the joint families or nuclear families, public listed companies in which family has a controlling stake or even partnership firms.