20525 - STRATEGIC MANAGEMENT IN FAMILY BUSINESSES
CLMG - M - IM - MM - AFC - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT - GIO
Course taught in English
Go to class group/s: 31
The course is aimed at developing students’ in-depth understanding of family firms’ core strategic decisions and capacity to contribute to consequent transition processes, in such a way as to prepare them to take key responsibilities in the future as family and non-family members involved in ownership, governance, leadership and management or as service providers within banks, private equity funds, consulting companies.
Given these goals, the course is highly interactive and centered on complex decision - making processes, with a special focus on case discussions and distinguished live testimonials from family firms in made in Italy industries as well as from other institutions supporting family businesses, and with the opportunity for students to take part into a team field project.
- Family business: relevance, original traits, main issues.
- The family business system and the various perspectives of key actors.
- Developing resources for long-term success and the special challenges of entrepreneurial families and other stakeholders: how to define and nurture responsible ownership values; how to design and practice professional family and corporate governance; how to develop effective leadership and management; when and how to involve non-family shareholders; how to establish effective relationships with financial intermediaries; how to make the most of relationships with the territory.
- Governing change processes from generation to generation and the special challenges of leadership and ownership transitions;
- Strategic management of family firms in “made in Italy” industries: live cases and testimonials from fashion and design, wine, engineering and tourism.
- For students that will attend classes and will choose to do a field project the final evaluation will be based:
- 50% on the final exam;
- 50% on the field project. The field project will consist of a case analysis (excluding cases dealt with during the course) and will be carried on by teams of four students.
- For students that will choose either not to attend classes or not to do a field project, the final evaluation will be based only on the final exam.
- For all students, the final exam will be written in the first session after the end of the course and it will be oral in the following sessions. In the written exam, students will be asked to analyze a case (not previously discussed in class) and answer three open questions. Whatever the form, the final exam is aimed at testing students’ ability to apply theories and models to real-life cases.
- G. Corbetta, D. Montemerlo (editors), Strategic Management in Family Business: Selected Readings, Egea, Milano, 2016.
- 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.