Managing the Family Firm
Description
This module will explore the unique characteristics, opportunities and challenges related to managing a family firm. Topics covered in the module are:
- Governance
- Finance and Accounting
- Succession
- Strategy
- Marketing
- Human Resource Management
- CSR, purpose and grand challenges
- Entrepreneurship
Learning outcomes
After completing the seminar students should understand the unique characteristics of family businesses and their implications for the role of the manager. After completing the module students will be able to:
- Understand and critically reflect on the unique opportunities and challenges of managing a family firm related to finance, governance, succession, entrepreneurship, strategy, marketing, human resource management and CSR.
- Understand family owners’ non-financial and financial goals and their effects on decision-making.
- Learn from real-life insights through several family business owners and experts as guest speakers.
- Reflect on the importance of context when we think of family firms, such as international, sector and size differences.
- Compare theoretical knowledge of family firms with practical case studies.
- Evaluate how family firms tackle grand challenges.
- Explore how family businesses can exploit new opportunities.