Skip to main content
Skip header

ECTS Course Overview



Family Business

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

Course Unit Code115-0531/01
Number of ECTS Credits Allocated4 ECTS credits
Type of Course Unit *Choice-compulsory
Level of Course Unit *First Cycle
Year of Study *
Semester when the Course Unit is deliveredSummer Semester
Mode of DeliveryFace-to-face
Language of InstructionEnglish
Prerequisites and Co-Requisites Course succeeds to compulsory courses of previous semester
Name of Lecturer(s)Personal IDName
MIK90doc. Ing. Marie Mikušová, Ph.D.
Summary
Family businesses play an important role in GDP and employment ensuring. The issue of this type of business is wider and more diverse than non-family one. After the subject completion, the student gains clear idea about what is family business and its management, information about the issues of business successions, and also inspiration for his/her own effective steps in the field of family business. To achieve these targets the subject is aimed at the issues of strategic planning for the family/business - from learning how be an effective and responsible shareholder, differ roles of the family and the board, organize family meetings, create compensation philosophy, prepare business for succession - to the decision about retirement and leaving the family business. The dangers and advantages of family and business blending in all of these part of family business life are emphasized continuously. FRAMEWORK: Family business (FB) (features, history, position and role in the economy); Parallel planning family and business (key issues); FB ownership (shareholder, owner, ownership attitude, roles and responsibilities, preparing good owners, owners by choice, insider-outsider dilemmas); FB governance (the roles, communication and organizing the family/the board); Family meetings (effective meetings, the value and benefits of family meetings), Family education (the evolution of family education, family´s particular needs); Developing FB policies (purpose for family/business, shareholder agreements); FB compensation (special issues in FB, family expectations); Succession (preparing the family/business for a successful transition, the roles of leader and successors, implementing succession, family tensions); Siblings and the FB (challenges and opportunities, founder, sibling spouses in the business, business/family supporting, the foundation for the cousin generation to follow); Non-family executives in the FB (relationship, compensation and incentives); Letting go (decision about retirement, the supporting cast, the post-CEO role, hanging on)
Learning Outcomes of the Course Unit
Analysis: to identify advantages and disadvantages of family business, to evaluate the requirements for an efficient and responsible family-business owner, to analyse obstacles in the successful succession process. Synthesis: to generalize the procedure of family business policies creation, to assemble simple family meeting, to categorize types of family and business institutions. Evaluation: to measure and balance family and business system, to evaluate the parallel planning process in the family and in the business, to identify the next generation of managers and leaders.
Course Contents
• Family business (FB) (features, history, position and role in the economy); • Parallel planning family and business (key issues); • FB ownership (shareholder, owner, ownership attitude, roles and responsibilities, preparing good owners, owners by choice, insider-outsider dilemmas); • FB governance (the roles, communication and organizing the family/the board); • Family meetings (effective meetings, the value and benefits of family meetings); • Family education (the evolution of family education, family´s particular needs); • Developing FB policies (purpose for family/business, shareholder agreements); • FB compensation (special issues in FB, family expectations); • Succession (preparing the family/business for a successful transition, the roles of leader and successors, implementing succession, family tensions); • Siblings and the FB (challenges and opportunities, founder, sibling spouses in the business, business/family supporting, the foundation for the cousin generation to follow); • Non-family executives in the FB (relationship, compensation and incentives); • Letting go (decision about retirement, the supporting cast, the post-CEO role).
Recommended or Required Reading
Required Reading:
Mikušová, M. (2018). Family Business. SOET, vol. 30. Ostrava: VSB-TU Ostrava.
Mikušová, M. (2018). Family Business. SOET, vol. 30. Ostrava: VSB-TU Ostrava.
Recommended Reading:
Carlock, R. S., and Ward, J. L. (2001). Strategic Planning for the Family Business. Parallel Planning to Unify the Family and Business. New York: Palgrave Macmillan. Dugan, A. M., Krone, S. P., Lecouvie, K. Pendergast, J. M., Kenyon-Rouvinez, D., and Schuman, A. M. (2011). A Woman´s Place. The crucial roles of women in family business. New York: Palgrave Macmillan. Eckrich, C. J., and McClure, S. L. (2012). The Family Council Handbook. New York: Palgrave Macmillan. Herz Brown, F., and Lotery, F. The Family Wealth. Sustainability Toolkit. (2012). Chichester, UK: Willey & Sons. Pendergast, J. M., Ward, J. L., and Brun de Pontet, S. (2011). Building a Successful Family Business Board. New York: Palgrave Macmillan. Ward, J. L. (2004). Perpetuating the Family Business. New York: Palgrave Macmillan. Ward, J. L. (ed.) (2005). Unconventional wisdom. Counterintuitive Insights for Family Business success. Chichester, UK: Willey & Sons. Ward, J. L. (2011). Keeping the Family Business Healthy. How to Plan for Continuing Growth, Profitability, and Family Leadership. New York: Palgrave Macmillan.
Carlock, R. S., and Ward, J. L. (2001). Strategic Planning for the Family Business. Parallel Planning to Unify the Family and Business. New York: Palgrave Macmillan. Dugan, A. M., Krone, S. P., Lecouvie, K. Pendergast, J. M., Kenyon-Rouvinez, D., and Schuman, A. M. (2011). A Woman´s Place. The crucial roles of women in family business. New York: Palgrave Macmillan. Eckrich, C. J., and McClure, S. L. (2012). The Family Council Handbook. New York: Palgrave Macmillan. Herz Brown, F., and Lotery, F. The Family Wealth. Sustainability Toolkit. (2012). Chichester, UK: Willey & Sons. Pendergast, J. M., Ward, J. L., and Brun de Pontet, S. (2011). Building a Successful Family Business Board. New York: Palgrave Macmillan. Ward, J. L. (2004). Perpetuating the Family Business. New York: Palgrave Macmillan. Ward, J. L. (ed.) (2005). Unconventional wisdom. Counterintuitive Insights for Family Business success. Chichester, UK: Willey & Sons. Ward, J. L. (2011). Keeping the Family Business Healthy. How to Plan for Continuing Growth, Profitability, and Family Leadership. New York: Palgrave Macmillan.
Planned learning activities and teaching methods
Lectures
Assesment methods and criteria
Tasks are not Defined