Course Topics
On successful completion of this course, students should be able to: -Identify the definitions, characteristics, and distinctive traits of SMEs (circles, stages, theories, and models) (Introduction to SMEs and family firms) -Compare and contrast family and non-family small businesses -Describe the fundamentals of business administration and decision-making in SMEs and family firms -Enumerate goals and goal setting in SMEs and family firms -Explain governance structures and architectures in SMEs and family firms -Identify power and succession dynamics in SMEs and family firms -Develop strategies for growth and performance measurement in SMEs and family firms -Relate the management of innovation and technological change in SMEs (e.g., incremental innovation vs. radical innovation) and family firms -Assess the management of green innovation, sustainability (SDGs), and corporate digital responsibility (CDR) in SMEs (family firms) -Explain the management of internationalization of SMEs. -Apply change management mechanisms in SMEs and family firms.

Teaching format
Frontal lectures, discussions, case studies, and project assignments (for attending students only). Guest lectures from small business leaders, family firms, consultants, and experts

Educational objectives
Knowledge and understanding Scope: understanding the enterprise knowledge of business and organisational models knowledge of management and organisational objectives, plans and functions knowledge of business decision-making methods and strategic management knowledge of decision-making concepts and models on new product launches, pricing, distribution channels and (digital) communication tools understanding of social responsibility, consumer protection, sustainable marketing knowledge of concepts, models and tools for critically analysing business and corporate strategies understanding of different management theories and organisational behaviour and their relevance to different business and economic contexts in-depth knowledge in international marketing, the management of multinational companies, the analysis of consumer behaviour or the management of operational and technical functions in-depth knowledge and understanding in management control knowledge of the mechanisms underlying effective communication of theoretical and empirical business arguments in three languages: Italian, German and English. "Ability to apply knowledge and understanding " Economic field being able to recognise and analyse the evolution of business structures and the development of organisational forms being able to apply contextually appropriate management principles, theoretical models and empirical analysis tools to complex problems in typical managerial situations being able to apply concepts, models, tools and techniques suitable for analysing markets, market strategies, programmes and activities through teamwork, and to communicate research results in accordance with international professional standards in three languages: Italian, German and English being able to formulate strategies and identify critical steps in the implementation of a competitive strategy knowing how to apply the appropriate analysis tools and models to evaluate the strategic choices and strategies implemented by companies knowing how to use the specific tools of auditing in different business contexts know how to communicate the results of strategic analyses prepared according to international professional standards in three languages: Italian, German and English Autonomy of judgement identify the most important problems in complex decision-making situations perform a critical analysis of facts and situations to be addressed use logical reasoning to combine information and analytical methods, including modern software packages, to arrive at a solution. Learning skills analyse, critically process and integrate data, information and future experience, also using advanced software

Additional educational objectives and learning outcomes
Knowledge and understanding • Understand basic principles behind the management and administration of SMEs and family firms • Understand the distinctive strategic and managerial challenges to manage small firms and family firms effectively • Appreciate and understand the role of families in SMEs Applying knowledge and understanding • Assess the role of families in creating and sustaining competitive advantage and disadvantages • Understand key dimensions of family influence and their implications for business administration and organizational outcomes in SMEs • Critically evaluate the strengths and weaknesses of SME firms in the context Making judgments • Make judgements about the distinctive organisational and managerial implications of SMEs' influence on business organizations • Critically appraise alternative approaches to managing SME firms for longevity • Evaluate the advantages and disadvantages of family SME firms Communication skills • Develop communication skills for presenting and discussing small business cases or other projects assignments in the context of small firms Learning skills • Detect critical issues in small business management and identify organizational solutions • Systematically make decisions between different routes of action in the small business • Develop and evaluate concepts related to small firms

Assessment
• Written exam: open and closed-ended questions with review questions to test knowledge of theory and application skills (for both attending and non attending students). • Written group assignment + presentation (mandatory for attending students) is a project work carried out in groups in the mid-term in the form of a presentation or report. • Non-attending students, written exam with open and closed-ended questions. NOTE: Written group assignments are valid for one academic year and cannot be carried over beyond that time frame.

Evaluation criteria
50% written exams. The written exam consists of review questions or critical assessments of topics related to the management and economics of SMEs (multiple-choice questions and/or a variable number of open-ended questions). 50% project work (only for attending students). The midterm assignments (project works), presented as a .ppt file, involve analyzing and discussing management challenges and issues in the context of SMEs and family firms. The lecturer assigns project work, which is delivered before the end of the course. The presentations are expected to be based on theoretical concepts covered in class and the extant literature. It is relevant for the written exam: clarity of answers based on the knowledge provided in readings, textbooks, slides, and verbal information (including the practitioners’ workshops), ability to summarize, evaluate, and establish relationships between topics, ability to analyse small business issues critically. It is relevant for project work: the ability to work in a team, creativity, critical thinking skills, the ability to summarize in one's own words, and presentation skills. 100% Written exam for students who do not attend lessons (Students who will not attend at least 50% of classes). A written exam (100%) will assess the knowledge and skills learned throughout the course.