Family Business Management – BUSI 425

CG • Section 8WK • 07/01/2018 to 12/31/2199 • Modified 07/28/2020

Course Description

This course explores the unique personal, interpersonal issues, and business issues associated with the family-owned and managed firm. Topics include challenges and opportunities for family businesses, the dynamics of family interactions within the family business culture, conflict resolution, estate planning, and succession planning.

Prerequisites

None

Rationale

This course is designed to focus on strategic management practices essential to the multi-generational operation of a family business. This will be accomplished by integrating business fundamentals with family dynamics.

Measurable Learning Outcomes

Upon successful completion of this course, the student will be able to:

  1. Recognize challenges within the family business and reasons for business success and failure with an emphasis on the benefits of planning.
  2. Identify stages of growth within the family and the business affecting its life cycle, organization, and financial needs.
  3. Utilize the formal planning process for developing a strategic business plan.
  4. Demonstrate how to transition the family business to new leadership that promotes a revitalized business vision and strategy.
  5. Discuss Biblical principles applicable to businesses and multigenerational inheritance from a Biblical perspective.

Course Assignment

Textbook readings and lecture presentations/notes

Course Requirements Checklist

After reading the Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.

Discussion Board forums (4)

Each student will participate in four Discussion Board forums. The first three Discussion Board forums will consist of a 500-word thread and two 250-word replies. The student will only post a 500-word thread for the last Discussion Board forum. The Discussion Board forums are based on a chapter topic. Outside research will be required for the thread. The instructor is looking for substantial, thoughtful, and critical discussions.

Group Research Paper

Each student will be responsible for working within an assigned group to adopt a business strategy appropriate for its family business that incorporates the values of each group member. The paper must be 8–10 pages in length and include 8–10 sources. APA format must be used throughout the paper. The final assignment will be submitted through SafeAssign to check for plagiarism.

Exams

There will be two exams during this course. The exams will consist of twenty-five multiple choice and true/false questions. Each student will have a 50-minute time limit. The exams are open book/open notes.