Family Business Management (MGT452)
This course will allow you to understand the core concepts of managing a family business. Skills developed in this course range from succession planning, governance, and the identification of unique assets and vulnerabilities of family businesses, to understanding the intricate nature of family culture, family communication, and family conflict.
- Understand the impact of family business on economic activity worldwide.
- Understand the unique assets and vulnerabilities of family enterprises.
- Understand the role of the CEO in governance, management, and the transfer of power.
- Understand the relationship between the role of the board, the family council, and top management in providing effective governance for family business continuity key family dynamics.
- Identify the various stakeholders and the role of trust among family members and their impact on succession and continuity.
- Discuss the developmental needs and challenges of next generation leaders.
- Analyze the effect of estate taxes on ownership transfer across generations of family business owners and the implications of ownership structures on the competitive advantages of family businesses.
- Explain the importance of strategic planning to family business continuity.
- Explore the critical role and challenges that non-family managers play in family owned operations.
- Analyze the impact of family culture, family communication, family conflict, and family unity and explore their interaction effects on the family business.