MANAGEMENT AND GOVERNANCE OF FAMILY FIRMS
- Overview
- Assessment methods
- Learning objectives
- Contents
- Full programme
- Delivery method
- Teaching methods
- Contacts/Info
Students' learning will be tested:
- in class by giving direct feedbacks during lectures and case discussions;
- through the exam, which is in written form according to what follows
and aimed at applying theories and models learned during the course to real-life situations.
Exam evaluation criteria will be, in fact, the rigorous knowledge of concepts, theories and model as well as the capacity to use them in order to interpret concrete situations, diagnosing problems and crafting solutions.
Specifically, students are (individually) asked:
1. To collect some press articles and other information (e.g. from the company website) on a family business that intrigues them, possibly (but not compulsorily) a well-known one to be able to get more information.
Students may also want to analyze their own family business or another one they know very well, provided that the necessary information is available and that all sources are quoted;
2. To write a short note (paper’s Part 1).
The note’s contents must describe the family business system covering course topics
3. To write a commentary (paper’s Part 2). on the family business described in the note, applying (and making explicit reference to) the models and concepts included in the programme.
Every commentary should include:
a. An introduction, representing an overview of the family business system and its main strategies and offering students' own synthetic comments, based on application of theoretical models and concepts, explaining whether or not the chosen family business is considered to be a successful one and why, as well as explaining if the right conditions exist for this family business to continue to be successful in the future (or not) and why
b. More specific comments on 3 topics that give students' own assessment of the topics chosen to make a deeper analysis and to formulate proposals/suggestions, always based on the course’s theoretical models and concepts.
4. In sum, the paper to be prepared includes both the note and the commentary – part 1 + part 2 (12 to 15 pages, single spaced) - together with a cover page where students will be asked to declare to accept the University’s ethical code and its implications about exams (that is, to commit to provide an original work), with signature.
Further indications will be given at the beginning of the course.
Students' learning will be tested:
- in class by giving direct feedbacks during lectures and case discussions;
- through the exam, which is in written form according to what follows
and aimed at applying theories and models learned during the course to real-life situations.
Exam evaluation criteria will be, in fact, the rigorous knowledge of concepts, theories and model as well as the capacity to use them in order to interpret concrete situations, diagnosing problems and crafting solutions.
Specifically, students are (individually) asked:
1. To collect some press articles and other information (e.g. from the company website) on a family business that intrigues them, possibly (but not compulsorily) a well-known one to be able to get more information.
Students may also want to analyze their own family business or another one they know very well, provided that the necessary information is available and that all sources are quoted;
2. To write a short note (paper’s Part 1).
The note’s contents must describe the family business system covering course topics
3. To write a commentary (paper’s Part 2). on the family business described in the note, applying (and making explicit reference to) the models and concepts included in the programme.
Every commentary should include:
a. An introduction, representing an overview of the family business system and its main strategies and offering students' own synthetic comments, based on application of theoretical models and concepts, explaining whether or not the chosen family business is considered to be a successful one and why, as well as explaining if the right conditions exist for this family business to continue to be successful in the future (or not) and why
b. More specific comments on 3 topics that give students' own assessment of the topics chosen to make a deeper analysis and to formulate proposals/suggestions, always based on the course’s theoretical models and concepts.
4. In sum, the paper to be prepared includes both the note and the commentary – part 1 + part 2 (12 to 15 pages, single spaced) - together with a cover page where students will be asked to declare to accept the University’s ethical code and its implications about exams (that is, to commit to provide an original work), with signature.
Further indications will be given at the beginning of the course.
The course of Management and Governance of Family firms intends to help
students: i) to deeply understand distinctive
traits, evolution paths and
continuity conditions of family firms, with a special focus on strategic
management, organization, business governance as well as on transitions in
leadership and ownership; ii) by this means, to actively contribute to family
firms' viability in their future roles, both as family business members
involved in management and governance and as non-family managers,
advisors or managers of financial institutions.
To reach these goals, students will be challenged to build up a solid and
specific theoretical knowledge (based on textbooks and other materials) as well as as to develop the ability to apply theory to cases in a problem-solving, inter- functional and inter-disciplinary perspective.
The course will deal with the following topics at a glance (tentative durations are indicated):
Family business original traits, main challenges and continuity conditions: an
overview (7 h).
The crucial role of responsible
ownership values (3 h).
The strategy process and strategic decisions at business level (8 h).
Organization strategies (6 h).
Governance strategies (3 h).
Generational transitions in leadership and ownership (9 h).
Family agreements (2 h).
Governing t
ransitions and the role of third parties (2 h).
Course introduction.
The definition and relevance of family firms worldwide.
Distinctive traits of family firms: the 3 circles.
The variety and dynamics of family firms.
The family business system.
Conditions for family firms’ continuity: an overview; responsible ownership values and their transmission over generations as the top condition.
The peculiar traits of strategy process and strategic decisions in family firms at business level.
Focused leadership strategies and their sustainability conditions.
Growth strategies and their sustainability conditions.
Diversification strategies for family and business.
Organizational strategies. Grooming and integrating non-family managers.
Organizational strategies. Addressing organizational dilemmas as non-family managers. Developing structures and operating systems.
Governance strategies at company level (with hints on ownership and family level).
Communication and conflict management in owning families
Growing and identifying future leaders and top managers: an assessment model for family and non-family ones.
Governing generational transition processes in leadership and top management: an overview of challenges and success conditions; the key steps to manage; the special challenges of next generation co-leaders.
Governing transition processes in leadership, top management and ownership. The role of family agreements and advisors.
Course wrap-up.
Interactive lectures, case discussions, testimonials.
The course is
mainly
carried out though traditional frontal teaching and
presentations with slides. Students are highly
encouraged to participate in
class by asking questions and engaging in discussions.
Particularly, case and incident discussions are aimed at applying concepts and models to
real situations and thereby at strengthening students’ capacity to make
diagnoses of complex pro
blems as well as identify solution alternatives; a
live testimonial will help exposing students to a family business case by
meeting a next generation leader.
Materials are indicated in Leganto section. Slides, cases, articles and notes can be found in the e-learning space.
Office hours are indicated, and regularly updated, in professor's
homepage.