The MFAB Way at ISB: Where My Legacy Met Learning

Carrying forward a legacy while shaping it for the future is both a privilege and a responsibility. I am Shivam Verma and I lead Verve Human Care Laboratories, a unit of Venor Pharma Limited.

Established by my father in 2002, the company has grown into a trusted name in finished dosage formulations, particularly in narcotics and psychotropics. Today, we not only serve a majority of the domestic market in this specialised segment but also export to over 55 countries worldwide. With our head office in Delhi and a state-of-the-art manufacturing facility in Selaqui, Dehradun, my brother and I proudly represent the second generation driving this journey of growth.

The MFAB Perspective: Understanding the Business

Every family business has its share of challenges. Knowing your own business inside out is only half the battle. To grow as a leader, it is crucial to understand how completely different businesses operate, how they handle operations, manage people, and solve problems. That was a key factor in my decision to join ISB’s PGP MFAB.

What drew me most was the people. I am surrounded by peers who, like me, are running family businesses, each with its own set of struggles and wins. Learning from their stories, exchanging solutions, and seeing how their insights can apply to my own context has been invaluable. A challenge faced in a different industry often sparks an idea perfectly suited for my business.

The MFAB Learning: Faculty and Peer Collaboration

The practical approach to teaching at ISB has been a revelation. The faculty are not just academics. They bring years of real-world experience and share lessons that I can apply immediately. 

The cohort is equally inspiring. Each peer comes from a unique industry, yet the core challenges we face, such as succession planning, operational efficiency, and balancing tradition with innovation, are remarkably similar. The openness to share experiences has already broadened my thinking and made every discussion a learning opportunity.

The first week was hectic. Stepping into a new environment, surrounded by such a diverse and accomplished group, was overwhelming at first. But the energy on campus and the quality of discussions quickly pulled me in. I realised that being fully present and absorbing these insights is the only way to maximise the programme’s value.

The MFAB Impact: Balancing Tradition With Innovation

One of the most valuable takeaways has been understanding how to balance the legacy of our family business with the need for innovation. I am learning to delegate effectively, to let colleagues take ownership of decisions, and to introduce systems that make operations more efficient. While hard skills like finance and strategy are essential, the soft skills, such as making decisions with courage, giving constructive feedback, and hiring for values, have the greatest impact on the business.

My goal is to walk out of the MFAB programme as a more confident leader with sharper decision-making skills and a deeper understanding of business operations. I am keen to deepen my knowledge in family governance frameworks, succession planning, and strategies for sustainable growth. I also aim to sharpen my ability to scale operations, enter new markets, and leverage technology to modernise traditional business practices while keeping the core values intact.

For anyone considering the MFAB, I would advise approaching it with a live business problem, treating your cohort as collaborators, and being realistic about balancing work and study. 

This programme gives a rare chance to step away from daily operations, gain practical tools, and develop a network of peers who truly understand the challenges of family businesses. The lessons learned here can be transformative when applied thoughtfully back home.

Synopsis:

Shivam Verma, Director of Verve Human Care Laboratories and member of ISB’s PGP MFAB Class of 2026, shares how the ISB MFAB programme has expanded his perspective as a second-generation leader. By combining practical learning, peer collaboration, and faculty insights, Shivam is gaining the skills to modernise operations, strengthen governance, and drive sustainable growth while preserving the legacy of his family business.