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ENT308Management Sciences2 Unitsintermediate

Family Business And Success Planning

This course provides an in-depth exploration of family businesses, their unique characteristics, and their significance in the global economy. It examines the dynamics of family involvement, including ownership, management, and governance, and explores the challenges and opportunities that arise from these dynamics. The course also covers succession planning, conflict management, and the role of women in family businesses, equipping students with the knowledge and skills to navigate the complexities of this prevalent business model.

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60h
Study Time
13
Weeks
5h
Per Week
none
Math Level
Course Keywords
Family BusinessSuccession PlanningGovernanceFamily DynamicsEntrepreneurship

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📚
Math Level
No Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Introduction to Family Business

2

Historical Review

3

Defining Family Business

4

Economic Importance

5

Theories Guiding Research

6

Strengths and Weaknesses

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assignments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Family Business Manager

Apply your skills in this growing field

Succession Planner

Apply your skills in this growing field

Business Consultant

Apply your skills in this growing field

Entrepreneur

Apply your skills in this growing field

Business Development Manager

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

RetailManufacturingFinanceReal EstateTechnology

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: INTRODUCTION

4h

Unit 1: Introduction

2 study hours
  • •Read the introduction to family business and its prevalence.
  • •Understand the intertwining of family and business.
  • •Identify the economic impact of family-owned businesses.

Unit 2: Historical Review of Family Business Dynasties

2 study hours
  • •Examine historical examples of family business dynasties.
  • •Analyze the roles of families like the Rothschilds and Vanderbilts.
  • •Discuss the impact of family businesses on national economies.
Week
2

Module 1: INTRODUCTION

5h

Unit 3: Evolution of Family Business Research

3 study hours
  • •Explore the evolution of family business research.
  • •Identify key researchers and their contributions.
  • •Discuss the development of family business centers and organizations.

Unit 4: Examples of Notable Family Businesses in the World

2 study hours
  • •Identify notable family businesses in the world
  • •Discuss the impact of family businesses on national economies.
Week
3

Module 2: DEFINING THE FAMILY BUSINESS

4h

Unit 1: Introducing the Family

2 study hours
  • •Define the concept of family and its structure.
  • •Understand the responsibilities of individual family members.
  • •Discuss the functions of the family to its members and the community.

Unit 2: Who are the Family Firms?

2 study hours
  • •Explore the concept of Family Orientation (FO).
  • •Understand the dimensions of tradition, stability, loyalty, trust, and interdependency.
  • •Analyze the linkages between FO and the functions of the family system.
Week
4

Module 2: DEFINING THE FAMILY BUSINESS

3h

Unit 3: Identifying the Distinctiveness of Family Businesses

3 study hours
  • •Differentiate family businesses from non-family businesses.
  • •Examine models like the Two and Three Circle Models.
  • •Discuss the Sustainable Family Business Model (SFB).
Week
5

Module 2: DEFINING THE FAMILY BUSINESS

3h

Unit 3: Identifying the Distinctiveness of Family Businesses

3 study hours
  • •Explore the Familiness concept and its dimensions.
  • •Analyze the Bull's Eye Model.
  • •Discuss the Four Elements of Family Business Definition by Westhead and Cowling.
Week
6

Module 2: DEFINING THE FAMILY BUSINESS

5h

Unit 3: Identifying the Distinctiveness of Family Businesses

3 study hours
  • •Explore the F-PEC Scale and its dimensions.
  • •Understand the concepts of Power, Experience, and Culture.
  • •Define family business based on the course guide.

Unit 4: Components of Family Involvement

2 study hours
  • •Identify the main components of family involvement: ownership, management, governance/control, succession, family employees, and family culture.
  • •Discuss the distinctiveness of a family business.
Week
7

Module 3: ECONOMIC IMPORTANCE OF FAMILY BUSINESS

5h

Unit 1: The Prevalence of Family Business

3 study hours
  • •Discuss the Systems Theory and its assumptions.
  • •Explore the Resource-based View (RBV) and its characteristics.
  • •Understand the Social Capital Theory and its role in family business.

Unit 2: Economic Contribution of Family Business

2 study hours
  • •Understand the Agency Theory and its perspectives.
  • •Explore the Stewardship Theory and its contrast to Agency Theory.
Week
8

Module 3: ECONOMIC IMPORTANCE OF FAMILY BUSINESS

4h

Unit 3: Case Studies

4 study hours
  • •Review case studies of family businesses.
  • •Analyze the economic importance of family firms.
  • •Discuss world statistics on family businesses.
Week
9

Module 4: THE COMPETITIVENESS OF FAMILY BUSINESSES

4h

Unit 1: Uniqueness of Family Businesses

4 study hours
  • •Analyze the strengths of family firms, including fewer conflicts of interest.
  • •Discuss the role of RBV in family business research.
  • •Understand the resources and capabilities of family-involved firms.
Week
10

Module 4: THE COMPETITIVENESS OF FAMILY BUSINESSES

4h

Unit 2 Strength of Family Businesses

4 study hours
  • •Explore the weaknesses of family businesses.
  • •Discuss the challenges facing family businesses.
  • •Understand the importance of generational involvement and leadership.
Week
11

Module 4: THE COMPETITIVENESS OF FAMILY BUSINESSES

4h

Unit 3: Weaknesses of Family Businesses

4 study hours
  • •Explore the weaknesses of family businesses.
  • •Discuss the challenges facing family businesses.
  • •Understand the importance of generational involvement and leadership.
Week
12

Module 5: Governance in the Family Business

4h

Unit 1: Introduction to Governance

4 study hours
  • •Understand the importance of governance in family firms.
  • •Explore the concept of corporate governance.
  • •Discuss the roles of the family, board of directors, and top management.
Week
13

Module 5: Governance in the Family Business

4h

Unit 2: The Need for Governance in Family Firms

4 study hours
  • •Understand the importance of governance in family firms.
  • •Explore the concept of corporate governance.
  • •Discuss the roles of the family, board of directors, and top management.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review key definitions and models (e.g., Three-Circle Model, F-PEC Scale).

2

Focus on case studies to understand real-world applications.

3

Create concept maps linking theories (RBV, Agency Theory) to family business practices.

4

Practice analyzing family business scenarios and identifying potential conflicts.

5

Prepare summaries of strengths and weaknesses of family businesses.

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