Why choose this course? | This course offers the opportunity to acquire in-depth, practical knowledge on family business, regardless of whether you are a student studying business administration or a non-specialist student, and irrespective of whether you come from a family business background or not. The special practical relevance is achieved through a unique network of family businesses that has evolved at the MCI Family Business Center. Some of these businesses will be visited during our field trip. Family firm knowledge opens up a variety of career opportunities for graduates, since family firms are the dominant corporate form worldwide. |
Who is your lecturer?
| Prof. Anita Zehrer graduated from Innsbruck University, Austria with a PhD in Social Sciences and received her post-doctoral lecturing qualification at the Catholic University of Eichstaett-Ingolstadt, Germany. Currently she is Professor and Head of the Family Business Center as well as Head of Research (Management & Society) at the MCI The Entrepreneurial School ®. Additionally, she works as both, Certified Business Coach and Mediator. |
Language | English |
Student workload | 5 ECTS (including 1-2 ECTS asynchronous self-study) |
Assessment | The final grade comprises the following two parts: - Semester-accompanying performance (SAP) 20%: oral participation, group works, in-class assignments, etc.
- Learning outcome diary 30%: reflection on each day of course (synchronous as well as asynchronous sessions), key findings and learnings 200 words per day
- Final presentation 50%: group presentation on assigned topic including insights from the field trip
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Mode | On-Campus: Monday till Friday during the day | synchronous (+ further teaching units asynchronous) |
Date | November 11 – 22, 2024 |
Contents | - Introduction to family business: definition, facts and figures, economic perspective, advantages and disadvantages, underlying theories and concepts
- Ownership succession management: types of ownership, strategic planning, success factors of succession, the role of key non-family employees, managing transition, key challenges of succession process, nepotism, gender equality, generational challenges, success and failure
- Family business governance: structures and agreements, family versus business strategy, family constitution, the role of advisory boards, family councils and family meetings
- Internationalization and growth of family firms: growth strategies, internationalization theories (stage theory, Uppsala model, etc.), entry modes of internationalization
- Coping with uncertainty and risk: definition of uncertainty and risk, VUCA, Covid-19 pandemic, global risk landscape, levels of resilience, theory of adaptive cycles,
- Innovation in family firms: forms of innovation, antecedents, measurements, tradition versus innovation paradigm
- Apart from in-class activities we will visit family businesses in the Tirol from different industries and gain insights into their daily business. This allows students to have a one-on-one discussion on all topics covered with family firm entrepreneurs.
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Learning Goals | The course will explore the three systems of a family business, the family system, the business system and the ownership system and their interactions – functional and dysfunctional. Participants will be introduced to the basic issues of family business, and guided through the structures and procedures for successful family enterprises. Upon completion of this elective course, students will be able to: - appreciate the characteristics and challenges of family businesses and their dynamics
- understand leadership succession of family businesses and the challenges of next generation leaders
- learn about governance mechanisms in family businesses
- understand internationalization and growth strategies of family firms
- learn coping mechanisms in case of uncertainty and risk in family firms
- learn about the innovation–tradition paradigm in family firms
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Remember, you have to choose a total of four electives!
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