Family Business Management 15 credits

The course on Family Business Management, is based on more than 20 years of research and practical experience from family enterprises developed by the Centre for Family Entrepreneurship and Ownership (CeFEO) at Jönköping International Business School. Thanks to a large network of international collaborators and partners, CeFEO offers to the course a unique regional, national and international perspective in discussing Family Business dynamics. The purpose of this course is to enhance participants’ awareness and comprehension of how family businesses can approach common issues and challenges related to their specific structure and goals. The broader aim of the course is to support the development of family firms and facilitate the process of succession and ownership transition in family businesses by sharing knowledge and tools for how this can be done in effective ways. The 15 credits course on Family Business Management is composed by 5 parts of 3 credits each: 1. Family Business, introduction and characteristics 2. Family Business Strategy 3. Family Business Governance 4. Family Business Ownership 5. Family Business Emotions Five teaching cases developed by CeFEO researchers specifically for each part of the course allow a deeper understanding of the topics addressed in the lectures and discussions, bridging theory and practice. **Family Business, introduction and characteristics – 3 credits** Introduces the main characteristics of family businesses and depict how and why they are different to other type of businesses. It also covers the economic and social importance of family businesses worldwide. The most common challenges, including strengths and weaknesses of family businesses will be discussed. **Family Business Strategy – 3 credits** Focuses on the importance of developing a strategy for how to deal with both the family ownership group and the business development. The impact of owners on strategy and firm performance will be discussed; as will different type of strategic choices for business growth, innovation and internationalization. **Family Business Governance – 3 credits** Focuses on the importance of designing a well-adapted corporate and family governance structure. Corporate governance mechanisms considered are board of directors and advisors, and top management team. Family governance mechanisms considered are family meetings, family councils and family constitution. The module will embrace the importance of clarifying differences in roles between owners, managers and family members, as well as how to develop an owners’ plan and vision. **Family Business Ownership – 3 credits** Introduces a process perspective on ownership transition and succession. It will describe the most common choices and decisions that family business owners and managers face when approaching time of succession. Issues like when it is time to start thinking about succession, as well as how to develop a plan for the process of succession will be discussed in depth. The typical factors driving internal vs external ownership transition will be covered, as well as why it is important to differ between management and ownership succession. **Family Business Emotions – 3 credits** Focuses on the importance of dealing with the emotional side of family business, how to deal with possible conflicts between key actors including how to design a succession and transition process perceived as fair and effective. Ownership transition and succession in family businesses is an emotional issue and the success or failure of the process depends largely on how relationships between people, often with different goals, are handled. **Connection to research and practice ** This course builds on the research excellence and practical relevance of the Centre for Family Entrepreneurship and Ownership, bridging the core competences of JIBS faculty on family business and ownership. The participants will have a unique opportunity for applying the most relevant theoretical concepts to examples, cases and experiences from family businesses. The course is tailor-made for business owners, professionals and practitioners, working in or with family businesses, as well as for next-generation family business members and successors.