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Management of Family Business

* Exchange students do not have to consider this information when selecting suitable courses for an exchange stay.

Course Unit Code115-0601/01
Number of ECTS Credits Allocated5 ECTS credits
Type of Course Unit *Compulsory
Level of Course Unit *First Cycle
Year of Study *Second Year
Semester when the Course Unit is deliveredWinter Semester
Mode of DeliveryFace-to-face
Language of InstructionCzech
Prerequisites and Co-Requisites Course succeeds to compulsory courses of previous semester
Name of Lecturer(s)Personal IDName
MIK90doc. Ing. Marie Mikušová, Ph.D.
PAP30Ing. Marcela Papalová, Ph.D.
Summary
The course highlights the unique position of family businesses, which make a major contribution to GDP and employment. The issues of this type of business are more extensive and complex compared to non-family businesses.
The aim of the course is to combine and complement knowledge from other economic and management subjects to create an overview of the activities of the manager and owner of a family business, focusing on its specificities.
The student will be able to start a business in the form of a family trademan and a family business in the form of a limited liability company.
The position of the family business and the related issues of the role and responsibility of the owners, the model of family business management including rules and documents, the involvement of non-family members in the management, the preparation of a successful handover of the business to the next generation or balancing the connection between the family and the business are emphasized.
Learning Outcomes of the Course Unit
1. Establish a family business in the form of a natural person and in the form of an LLC, fulfilling their obligations to the institutions.
2. Evaluate the requirements of an effective and responsible family business owner, to ensure the financing of the business.
3. Generalize the family business institution and policy-making process.
4. Set up a family meeting, family assembly, call a general meeting.
5. Analyse the barriers to a successful succession process.
Course Contents
1. Family business (role, status, definition)
2. The role of the family in the management of family businesses
3. Family business, family corporation
4. Business plan
5. Financing options, support for family business
6. Family business management
7. Family institutions
8. Family rules
9. Succession planning and management
10. Succession plan
11. Preparation for the handover of the family business
12. Conflicts in the family business
13. The five rights of owners
14. Advantages and disadvantages of family business
Recommended or Required Reading
Required Reading:
DE MASSIS, Alfredo a KAMMERLANDER, Nadine. Handbook of qualitative research methods for family business. Cheltenham, UK: Edward Elgar Publishing, 2020. ISBN 978-1-78811-644-2.
ISAAC, George A. Your Business, Your Family, Your Legacy: Building A Multigenerational Family Business That Lasts. Scotts Valley, CA: Createspace Independent Publishing Platform. 2020. ISBN 978-1-98679-678-1.
POWELL, Meridith E. a KELLY, Mary C. Who Comes Next?: Leadership Succession Planning Made Easy. Shippensburg, PA: Sound Wisdom, 2022. ISBN 978-16-4095-388-8.
BARON, Josh a LACHENAUER, Rob. Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise (HBR Handbooks). Brighton, MA: Harvard Business Review, 2021. ISBN 978-16-3369-904-5.
FINCH, Brian. Jak napsat dobrý podnikatelský záměr: postupy a tipy, které vám pomohou získat podporu pro vaše nápady a podnikatelské plány. Brno: Lingea, 2020. ISBN 978-80-7508-623-5.
ONDŘEJ, Jan; RŮŽIČKA, Květoslav; DVOŘÁK, Tomáš; POLÁK, Josef; MANSELLA, Natálie; HRADECKÁ, Marcela et al. Zahájení podnikání (právní, ekonomické, daňové, účetní aspekty). 2. vyd. Praha: Wolters Kluwer, 2022. ISBN 978-80-7676-445-3
Recommended Reading:
FRANCO, Paul. Success with Succession: How to Sell Your Asset Management and Financial Advice Practice. Austin, TX: Lioncrest, 2024. ISBN 978-1544545028.
MITCHELL – BLITCH, Melissa. In the Company of Family: How to Thrive When Business Is Personal. Charleston, CA: Eredita Consulting. 2020. ISBN 978-0578761459.
ROTHWELL, William. Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within. 4th ed. New York: AMACOM, 2023. ISBN 978-1400232420.
HUTCHESON, Henry. Dirty Little Secrets of Family Business: Ensuring Success from One Generation to the Next. 3rd ed. Cambridge: River Grove Books, 2022. ISBN 978-1632995902.
CHARLESTEIN, Julie. How to Lead Your Family Business: Excelling Through Unexpected Crises, Choices, and Challenges. Dallas, TX: Matt Holt, 2023. ISBN 978-1637742792.
PETRŮ, Naděžda. Rodinné podnikání. Fenomén, příležitosti, budoucnost. Praha: VŠFS, 2020. ISBN 978-80-7408-207-8.
Planned learning activities and teaching methods
Lectures, Tutorials, Project work
Assesment methods and criteria
Task TitleTask TypeMaximum Number of Points
(Act. for Subtasks)
Minimum Number of Points for Task Passing
Credit and ExaminationCredit and Examination100 (100)51
        CreditCredit30 16
        ExaminationExamination70 35