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Family Business Management

Semester 2 · 25564 · Master in Entrepreneurship and Innovation · 6CP · EN


The course Family Business Management deals with:
• The nature and dynamics of family business
• The governance of family business
• The management of family business
• Succession in family business
The course entails both theoretical lectures and group activities aimed at putting theory into practice for a better understanding of the topic (e.g., case study analysis, role plays).

Lecturers: Paola Rovelli

Teaching Hours: 36
Lab Hours: 6
Mandatory Attendance:

Course Topics
The course is divided into 5 modules: - TM1. Introduction to family business - TM2. Dynamics of family business - TM3. Governance in family business - TM4. Management in family business - TM5. Succession in family business

Teaching format
Frontal lectures, group discussions, case study analysis.

Educational objectives
Knowledge and understanding The student acquires advanced knowledge and understanding of models for new product development and innovation management within companies. I/we acquire advanced knowledge and understanding of business analysis tools and solutions for the development of innovations and organisational knowledge I/we acquire advanced knowledge and understanding of innovation economics models and systems for regional innovation development The student acquires knowledge of quantitative models for the formulation of forecasts necessary to guide management decisions and to predict the life cycle of a product and a sector Ability to apply knowledge and understanding ability to acquire and select relevant information to frame cases of innovation (product, service, social, managerial organisational), also different from the contexts studied ability to select product development models, suitable to appropriately analyse a specific economic-productive context ability to classify, analyse specific innovations and assess their potential ability to select innovation management and organisational knowledge development models, suitable for a specific economic-social-productive context, such as digital transformation, resilience and sustainability ability to select the tools for innovation management and organisational knowledge development, consistent with the models deemed appropriate ability to propose and implement strategic and operational courses of action to foster the development of innovation by a company ability to assess the potential of an innovation within existing enterprises, with respect to the creation of a new enterprise (e.g. intrapreneurship, open innovation, etc.). Autonomy of judgement Acquire the ability to analyse complex entrepreneurial issues, such as the elaboration and evaluation of an entrepreneurial project (business plan) or the development of a new product. Autonomy of judgement is developed in the training activities carried out for the preparation of the thesis, as well as in the exercises that accompany the lectures and that involve group discussions and the comparison of individual analyses carried out by students in preparation for the lecture. Communication skills Acquire the ability to describe and communicate in an intercultural context, in a clear and precise manner, problematic situations typical of the management of a new enterprise and the development of innovation, such as, for example, the conditions for the validation of a problem or solution, the prospects and risks associated with a business model or an innovation project. The development of communication competences assumes heterogeneous situations such as, for example, the presence of internal stakeholders (e.g. colleagues, managers, owners), or external stakeholders (e.g. potential investors, suppliers and other business partners) and the ability to sustain an adversarial process. The achievement of these objectives is assessed in the course of the training activities already mentioned, as well as in the discussion of the final thesis. Learning ability Acquire the ability to study independently, to prepare summaries. Acquire the ability to identify thematic connections and to establish relationships between different cases and contexts of analysis Acquire the ability to frame a new problem systematically and to generate appropriate taxonomies. Acquire the ability to develop general models from the phenomena studied.

Assessment
- Individual written exam: it consists of open and closed questions based on the theory. - In-class active participation: during the theoretical lectures, students are invited to participate in group activities (e.g., discussions, role play, brief case study analyses). - Group case study analysis: students participate in the Ulysses Contest (https://www.ulysses-contest.eu/); during dedicated lectures, groups of students analyze a family business case study based on assigned questions and by applying the theoretical concepts previously illustrated during the theoretical lectures. Non-attending students have to write to the lecturer at the beginning of the course. These students are evaluated based on an individual written exam. The written exam consists of open and closed questions, as in the case of attending students, but goes deeper in testing non-attending students’ knowledge.

Evaluation criteria
Attending students - 60% Individual written exam It is relevant: quality and clarity of answers based on the knowledge provided during lectures, ability to summarize, evaluate, and establish relationships between topics, and ability to critically analyze family business management. - 40% Group case study analysis It is relevant: quality and clarity of answers, ability to apply theoretical concepts to analyze case studies, participation in group work, and quality and clarity of presentations. - 0-3 extra points In-class active participation It is relevant: participation in in-class discussions, proactiveness during discussions, and quality and clarity of answers. Non-attending students - 100% Individual written exam

Required readings

Readings will be provided in the lecture slides and on the TEAMS page of the course.



Supplementary readings

Supplementary readings will eventually be recommended to the students on the TEAMS page of the course.




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Sustainable Development Goals
This teaching activity contributes to the achievement of the following Sustainable Development Goals.

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