Family Business Management (MGT749)
This course will give you the knowledge and perspective to effectively manage the family business from interaction with family members and key employees to entry and exit strategy.
- Identify their particular role in the family business and where they fit in the family enterprise system.
- Gain a systems perspective on the family business.
- The ability to think in terms of a "family business system".
- Tools for use in day-to-day interaction with family clients.
- Describe the various roles and activities of family members working in a family business.
- Develop a Succession Process by learning about key competencies and selection criteria for the next generation leader.
- Evaluate and differentiate between key employees and family employees.
- Explore the factors which influence the qualities of healthy families and firms.
- Anticipate the business fundamentals required to enter a family firm through criteria for entry and exit strategies.
- Describe in depth the essentials of a good succession plan as it pertains to the overall strategic plan.
- Identify potential contributions of legal, insurance, accounting and banking industries to family business continuity.
- Develop a genogram (family tree) which in essence gives the fundamental basis of being able to "read" the dynamics and pertinent issues facing a family business.
- Develop a Family Council with a Family Creed depicting entry and exit strategies into a family business by using the right sort of Governance Structure.