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Course 2019-2020 a.y.

20525 - STRATEGIC MANAGEMENT IN FAMILY BUSINESSES

Department of Management and Technology

Course taught in English

Go to class group/s: 31

DES-ESS (6 credits - I sem. - OP  |  SECS-P/07)
Course Director:
GUIDO GIUSEPPE CORBETTA

Classes: 31 (I sem.)
Instructors:
Class 31: GUIDO GIUSEPPE CORBETTA


Suggested background knowledge

In order to optimize the learning process, it is advisable that students have some background in Strategy, Organization and Governance.


Mission & Content Summary
MISSION

Family businesses are the most widespread form of enterprise. Round 90% of the world’s businesses are family-managed or family-controlled which, according to estimates recently reported in The Economist, includes 40% of top companies in Germany and France, 30% to 40% in US, 40% to 50% in Brazil and 50% to 60% in South-East Asia and India. In Italy, our AUB Observatory demonstrates that over 80% of SMEs are family firms, as well as 58% of companies over 50 million Euros’ turnover. This makes the study of family businesses relevant at firm level as well as at macroeconomic level. The course of Strategic Management in Family businesses aims at making students develop a deep knowledge of family firms and prepare themselves to the various roles in which they may contribute to family firms’ growth as: members of entrepreneurial families involved in ownership, governance, leadership and/or management; non-family members involved in governance, leadership and/or management; non-family members acting as service providers within banks, private equity funds, consulting companies, law firms, etc.

CONTENT SUMMARY

The main topics of the course are:

  • The relevance, original traits and main challenges of family businesses.
  • The family business system and its main actors.
  • The key resources for the long-term success of family businesses: values, professional ownership and governance, effective leaders and managers and the role of family and non – family stakeholders.
  • Major change processes from generation to generation: transitions in leadership and ownership, family agreements and exit dynamics.
  • The special roles and challenges of family businesses in “made in Italy” industries.

Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Describe the family business system and its main components.
  • Recognize the main issues for long-term success and explain how to address them.
  • Explain fundamental  theories , models and practices in the family business field.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Analyze family business cases and illustrate their structure and possible evolution concerning the “three  circles” of family, ownership and business.
  • Make diagnoses of priority issues in the family business system and propose solutions to fix them.
  • (in case of participation to field projects) Demonstrate  organizational and teamwork abilities as well as presentation and communication skills.

Teaching methods
  • Face-to-face lectures
  • Guest speaker's talks (in class or in distance)
  • Case studies /Incidents (traditional, online)
  • Group assignments
DETAILS

The course is highly interactive and centered on complex decision-making processes. Therefore, the learning experience includes face-to- face lectures, case discussions to apply the models and practices presented in class to concrete family business problems and live testimonials from family firms in “made in Italy” industries as well as from other institutions supporting family businesses.

  • Students are encouraged to discuss all the topics dealt with, elaborate their own thoughts and share them with class mates, instructors and guests.
  • Students attending classes also have the opportunity to apply course contents by taking part into a team field project aimed at making in-depth analyses, diagnoses and proposals on real family business cases. Every team is composed by four or five  students. Detailed instructions are provided during the first class week.

Assessment methods
  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
  •     x
  • Group assignment (report, exercise, presentation, project work etc.)
  •     x
    ATTENDING STUDENTS

    For students choosing to attend classes and do a team field project, the final evaluation is based:

    • 50% on the final exam (see the “all students” point for details).
    • 50% on the team field project (see above).

    For all students, the final exam is in written form in the first session after the end of the course and it is in oral form in the following sessions.

    • The written exam (closed books) consists: for attending students (attending classes and doing the field project, see above), of 2 open questions on a short family business case (5 to 7 pages) not discussed in class before and aimed at testing students’ ability to apply theories, models and to real situations, by making their own interpretations, evaluations and proposals.
    • The oral exam consists of 3 open questions on course topics, and it is also aimed at testing students’ ability to apply theories and models to real situations.
    • Exchange students taking the exam in December in the special date reserved to them can choose to take the exam either in written or oral form.
    NOT ATTENDING STUDENTS

    For students choosing either to attend classes and not do a team field project, or not to attend classes at all (in this case, it is not possible to do the team field project), the final evaluation is based only on the final exam (see the “all students” point for details). 

    • For all students, the final exam is in written form in the first session after the end of the course and it is in oral form in the following sessions. The written exam (closed books) consists (either attending classes but not doing the field project, or not attending classes, see above) of 1 open question concerning the additional book chosen by the student (see next point on teaching materials) anf of 2 open questions on a short family business case (5 to 7 pages) not discussed in class before and aimed at testing students’ ability to apply theories and models to real situations by making their own interpretations, evaluations and proposals.
    • The oral exam consists of 3 open questions on course topics, and it is also aimed at testing students’ ability to apply theories and models to real situations.
    • Exchange students taking the exam in December in the special date reserved to them can choose to take the exam either in written or oral form.

    Teaching materials
    ATTENDING STUDENTS
    • G. CORBETTA, D. MONTEMERLO, (editors), Strategic Management in Family Business: Selected Readings, Egea, Milano, 2018.
    • Course materials include slides and cases that are uploaded, session by session, on Bboard.
    NOT ATTENDING STUDENTS

    Non-attending students have to prepare the textbook above, and an additional one to be chosen between one of the following:

    • H. KORINE, P. GOMEZ, Strong Managers, Strong Owners. Corporate Governance and Strategy, Cambridge University Press, Cambridge, 2014.
    • R.S. CARLOCK, J.L. WARD, When Family Businesses are Best. The Parallel Planning Process for Family Harmony and Business Success, Palgrave MacMillan, Basingstoke, 2010.
    • Course materials include slides and cases that are uploaded, session by session, on Bboard.
    Last change 16/06/2019 19:42