Family Businesses

This course explores the challenges and opportunities facing individuals and families involved in family business relationships. The course uses a systems model of the family and business to demonstrate the interrelationships and connections among the key stakeholders. This course is designed to provide an overview of the planning and management process required for family harmony and business continuity. The course is structured as a seminar on family business success factors. Each student group will select a family business and complete four exercises exploring their own selected family business situation. The first exercise will provide an overview of the family history and culture with three additional exercises addressing family participation, leadership development, and strategic planning. These exercises represent a foundation for the development of a comprehensive planning process for a family business.