Hi Adil,
I would need to know more about your family business to recommend a specific school. If it is manufacturing-based, you will want a school with a strong operations department. If it is high-tech you should look for a curriculum with a strong technology component. If you are looking to expand internationally, a strong international business school in the US or abroad would make sense.
If you plan to run the family business, you will want to be sure that you have a broad skill base. Take plenty of general management courses as well as fundamental courses in all the basic disciplines. This will help you hire and manage talented individuals in all areas.
If you are currently in your last year of undergraduate work, you would need to work for several years before being an attractive candidate for a top business school. A few years working at a lower level in your family company would give you excellent insights into the problems and opportunities you will eventually have to handle. That would help you choose a school and curriculum that is best for you. The practical knowledge gained while working would also add immeasurably to what you would get out of your MBA studies.
Tani
Tani Wolff