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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
1. Identify the advantages and disadvantages of family business.
2. Evaluate the requirements of an effective and responsible family business owner.
3. Analyse the barriers to a successful succession process.
4. Generalize the family business policy-making process.
5. Plan a simple family meeting and assembly.
6. Categorize types of family institutions.
7. Measure and balance family and business systems.
8. Plan the founder's exit.
9. Ensure balance of family and non-family elements in the business.
Course Contents
1. Family business (FB) (characteristics, history, position and role in the economy).
2. Simultaneous family and business planning (key issues).
3. FB ownership (shareholder, owner, ownership attitude, roles and responsibilities.
4. Preparing good owners, owners by choice, insider-outsider dilemmas.
5. FB governance (roles, communication and family/board organization).
6. Family institutions (family meetings).
7. Family education (development of family education, specific needs of the family).
8. FB policy development (purpose of family/business, shareholder agreements).
9. Compensation in FB (special issues in FB, family expectations).
10. Succession (preparing the family/business for a successful transition, roles of the leader and successors, implementing succession, tensions within the family).
11. Preparing successors and leavers.
12. Siblings and FB (challenges and opportunities, founder, siblings-spouse in the business, support of the business/family, foundation for subsequent generation of cousins).
13. Non-family leaders in FB (relationships, rewards and incentives).
14. Retirement (decision to retire, supporting cast, role after CEO, staying on).
Recommended or Required Reading
Required Reading:
LIPMAN, Frederick D. Business exit strategies: family-owned and other business. Singapore: World Scientific, 2018. 144 s. ISBN 978-981-3233-21-8.
MIKUŠOVÁ, Marie. Family business. SOET, vol. 30. Ostrava: VŠB-TU Ostrava, 2018. 256 s. ISBN 978-80-248-4222-6.
ZELLWEGER, Thomas. Managing the family business: theory and practice. Cheltenham: Edward Elgar Publishing, 2017. 527 s. ISBN 978-1-78347-069-3.
MARTELOVÁ, Judy. Rodinné firmy na rozcestí. Jak postupovat při nástupnictví, dědictví a udržení rodinné soudržnosti. Praha: Grada, 2017. 240 s. ISBN 978-80-271-0332-4.
ONDŘEJ, Jan et al. Zahájení podnikání (právní, ekonomické, daňové, účetní aspekty). Praha: Wolters Kluwer. 2019. 308 s. ISBN 978-80-7598-337-4.
SERVUS, Stanislav, David ELISCHER a Tomáš HORÁČEK. Aktuální otázky nástupnictví při rodinném podnikání. Praha: Wolters Kluwer, 2018. 280 s. ISBN 978-80-7552-643-4.
Recommended Reading:
BARON, Josh a Rob LACHENAUER. Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise (HBR Handbooks). Brighton, MA: Harvard Business Review, 2021. 320 s. ISBN 978-16-3369-904-5.
DE MASSIS, Alfredo a Nadine KAMMERLANDER, ed. Handbook of qualitative research methods for family business. Cheltenham, UK: Edward Elgar Publishing, 2020. 439 s. ISBN 978-1-78811-644-2.
HUBLER, Tom. The soul of family business: a practical guide to family business success and a loving family. Eden Prairie: Lilja Press, 2018. 213 s. ISBN 978-1-73204-000-7.
BFINCH, Brian. Jak napsat dobrý podnikatelský záměr: postupy a tipy, které vám pomohou získat podporu pro vaše nápady a podnikatelské plány. Brno: Lingea, 2020. 176 s. ISBN 978-80-7508-623-5.
SRPOVÁ, Jitka. Začínáme podnikat: s případovými studiemi začínajících podnikatelů. Praha: Grada, 2020. 264 s. ISBN 978-80-271-2253-0.
ŠTRUNC, Adam a Pavel ŠTRUNC. Podnikání z lavice. Brno: BizBooks, 2020. 96 s. ISBN 978-80-265-0938-7.
Planned learning activities and teaching methods
Lectures, Individual consultations, Project work
Assesment methods and criteria
Tasks are not Defined