Family Business And Success Planning
- Management Sciences
- 300 level
- 2 credit units
- 103 pages
- 5 units
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.
About this course
- Difficulty
- Intermediate
- Study hours
- 60 hours
- Maths
- None
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor marked assignments
- Final examination
What you'll read
The real module and unit structure of ENT308, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
ENT308 · Unit 3: Evolution of Family Business Research
Other successes recorded in family business research are development of key research areas such as succession; ownership; control or governance; performances of family business; kinship and family networks; organisational culture; entrepreneurial; orientation; corporate governance; finance and theories for family business research.
What you should be able to do
- Understand the unique characteristics of family businesses
- Identify the economic contributions of family businesses
- Analyze the strengths and weaknesses of family businesses
- Apply theoretical frameworks to family business research
- Develop strategies for succession planning and conflict management
What it prepares you for
- Family Business Manager
- Succession Planner
- Business Consultant
- Entrepreneur
- Business Development Manager
- Retail
- Manufacturing
- Finance
- Real Estate
- Technology
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 2: DEFINING THE FAMILY BUSINESS
Unit 3: Identifying the Distinctiveness of Family Businesses
The Three-Circle Model requires understanding complex relationships between family, ownership, and management, demanding strong analytical skills.
- Module 3: ECONOMIC IMPORTANCE OF FAMILY BUSINESS
Unit 2: Economic Contribution of Family Business
Agency Theory involves understanding conflicting interests between principals and agents, requiring critical thinking and ethical considerations.
A suggested way through it
13 weeks, about 53 hours in total. Yours will differ.
- Week 1Module 1: INTRODUCTION
Unit 1: Introduction · 2 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 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 2Module 1: INTRODUCTION
Unit 3: Evolution of Family Business Research · 3 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 hours
Identify notable family businesses in the world. Discuss the impact of family businesses on national economies..
- Week 3Module 2: DEFINING THE FAMILY BUSINESS
Unit 1: Introducing the Family · 2 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 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 4Module 2: DEFINING THE FAMILY BUSINESS
Unit 3: Identifying the Distinctiveness of Family Businesses · 3 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 5Module 2: DEFINING THE FAMILY BUSINESS
Unit 3: Identifying the Distinctiveness of Family Businesses · 3 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 6Module 2: DEFINING THE FAMILY BUSINESS
Unit 3: Identifying the Distinctiveness of Family Businesses · 3 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 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 7Module 3: ECONOMIC IMPORTANCE OF FAMILY BUSINESS
Unit 1: The Prevalence of Family Business · 3 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 hours
Understand the Agency Theory and its perspectives.. Explore the Stewardship Theory and its contrast to Agency Theory..
- Week 8Module 3: ECONOMIC IMPORTANCE OF FAMILY BUSINESS
Unit 3: Case Studies · 4 hours
Review case studies of family businesses.. Analyze the economic importance of family firms.. Discuss world statistics on family businesses..
- Week 9Module 4: THE COMPETITIVENESS OF FAMILY BUSINESSES
Unit 1: Uniqueness of Family Businesses · 4 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 10Module 4: THE COMPETITIVENESS OF FAMILY BUSINESSES
Unit 2 Strength of Family Businesses · 4 hours
Explore the weaknesses of family businesses.. Discuss the challenges facing family businesses.. Understand the importance of generational involvement and leadership..
- Week 11Module 4: THE COMPETITIVENESS OF FAMILY BUSINESSES
Unit 3: Weaknesses of Family Businesses · 4 hours
Explore the weaknesses of family businesses.. Discuss the challenges facing family businesses.. Understand the importance of generational involvement and leadership..
- Week 12Module 5: Governance in the Family Business
Unit 1: Introduction to Governance · 4 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 13Module 5: Governance in the Family Business
Unit 2: The Need for Governance in Family Firms · 4 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..
Preparing for the exam
- Review key definitions and models (e.g., Three-Circle Model, F-PEC Scale).
- Focus on case studies to understand real-world applications.
- Create concept maps linking theories (RBV, Agency Theory) to family business practices.
- Practice analyzing family business scenarios and identifying potential conflicts.
- Prepare summaries of strengths and weaknesses of family businesses.
Questions students ask about this course
What is ENT308 about?
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.
How many units does ENT308 have?
ENT308, Family Business And Success Planning, has 5 units across 2 modules, over 103 pages of course material. You can read it one unit at a time.
How many credit units is ENT308?
ENT308 carries 2 credit units, at 300 level in Management Sciences.
Is ENT308 hard?
ENT308 is rated intermediate level, with no mathematical content. It is mostly theoretical and case study work.
How long does ENT308 take to study?
About 60 hours of study, spread across its 5 units.
How is ENT308 assessed?
ENT308 is assessed by assignments, tutor marked assignments and final examination.
What can I do with ENT308?
Family Business Manager, Succession Planner, Business Consultant, Entrepreneur and Business Development Manager.