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SYLLABUS Course COURSE Number: L&S143 FAMILY BUSINESS MANAGEMENT Department of Leadership and Strategy Schedule: MWF 12:30-2:30, SOM 104 (Accelerated course) Instructor: Ricardo H. Mercado 1st Semester SY 2012-2013 Course Description: Family Businesses compose most of the businesses that operate in the country. The successes of these businesses contribute to the over-all economic health of the country. Understanding how family businesses are run including the dynamics of the family within the business add to the healthiness of the enterprise. This course will expose the students on the dynamics and communication issues in a family. The students will also learn leadership and relationships that are inherent in family businesses and how these intertwined in the ownership, governance and management of the family business. Ownership legacy, sibling rivalries, professionalism, succession, and strategic planning are some of the topics that will be covered in this course. Family businesses in the Asian context will be discussed in line with their successes and failures. It will present theoretical framework for understanding the family form of business organization and a practice perspective on consulting to family firms and/or working as a family member in a family business. Course Objectives: Develop a working knowledge in addressing concerns in management, governance and relational dynamics in family firms. Improve communication, family council meetings, conflict resolution and lead family members towards positive changes for the family and business. Importance of family constitution Learn parallel strategic planning for the family and business. Course Outline and Timeframe: Session 01 Jun 11 M Intro / Policies / Teacher-Student contract Session 02 Jun 13 W Family Family Relationships and Family Systems Meaning of family Family systems Session 03 Jun 15 F What is a healthy family? Individual roles/functions in the family Conflicts in the family Session 03 Jun 18 M Resolving conflicts in the family Session 04 Jun 20 W Group reports on assigned readings1 † AMDG Session 05 Jun 22 F Group reports on assigned readings2 Submission of Title of Project paper Session 06 Jun 25 M Family Business / Governance Close look on the entrepreneur Family business systems vs. Family systems Session 06 Jun 27 W Family Council Video showing Harvard: Family Governance Session 07 Jun 29 F Need to Plan / Parallel Planning Process Need to plan Planning process Family business planning questions Submission of outline of Project paper Session 07 Jul 02 M Balancing family and business planning Session 08 Jul 04W Group reports on assigned readings3 Session 09 Jul 06 FGroup reports on assigned readings3 Session 10 Jul 09 M Exams # 01 (Use bluebook) Session 11 Jul 11 W Video by INC Magazine: How to run a Successful Family Business Submit a one page reflection/commentary paper next class day Invite Speaker(s) Session 11 Jul 13 FConsultation on Group Project paper (JGSOM meeting room) Submission of draft of project Paper Session 12 Jul 16 M Professional Management Effective Outside Boards Other topics related to professional mgmt. Session 13 Jul 18 W Family Constitution Read: Poza – Chapter 11 Sample Family Constitution: Kropps Family Constitution Session 14 Jul 20 F Planning for Succession In-laws Discussions on characteristics of successful Family businesses Session 15 Jul 23 M Group reports on assigned cases4 Session 16 Jul 25 W Group reports on assigned cases5 Session 17 Jul 27 F Individual Research Discussion in Class Session 18 Jul 30 M Individual Research Discussion in Class 2 † 3 AMDG Session 19 Aug 01 W Individual Research Discussion in Class Session 20 Aug 03 F Course / integration Lecturer’s own family business experience Session 21 Aug 06 M Exams # 02 (Use bluebook)** Session 22 Aug 13 M Submission of Final Group Project Paper6 3:00pm at the L&S Department-JGSOM. Late papers will not be accepted ** Note: Additional sessions maybe added to accommodate speakers, video showing , individual research discussion, or extra lecture day. Lo ng exam will be adjusted accordingly All reporting groups must submit a comprehensive written report on the day of presentation. These groups must prepare well for the presentation and grading will be based on presentation, class interaction and written report. Written reports will be graded on the manner of synthesizing the assigned readings. For cases, grading will be on the depth of the analysis, integrating what has been learned in lectures, readings and student’s own insights. Individual written reports on readings/cases to be announced in class. Readings as indicated on the superscript numbers1&2: 1. 2. 3. 4. 5. What’s Your Family Like by Virginia Satir Ch 1 Growing Up w/a Family Business by Greg McCann Ch 2 Taking ownership of Your Life by Greg McCann Ch 3 Understanding Relationships in the Family/Business by Greg McCann Getting Along in Family Business by Edwin Hoover & Colette Hoover Readings as indicated on the superscript number3 1. The Family Council: How Families Plan for the Business by Dennis Jaffe 2. The Family Business as Paradox-Which to Choose: Family or Business by Schuman/Ward/Stutz 3. Family Business Governance & Role of Board of Directors by Carlock/Ward 4. Succession Planning for the Family Owned Business by Fager/McKinney 5. Assuring a Healthy Business by Ward/Carlock Cases4&5 1. 2. 3. 4. 5. Precista Tools AG (A & B) Salvatore Ferragamo, SpA Sam Steinberg (A) & (B) (Condensed) Fel-Pro (A) Clements Family Corporation (A,B &C) Group Project Paper6 (Framework) The project paper will follow the course main topics on Family, and Family Business. Write about the Family dynamics, which may include relationships, systems, conflicts etc. On the Family business include the characteristic of the founder, head of the business, difficulties encountered by the business that are f amily related, etc. Include interdependence and integration of both the family dynamics and family business, how each affect the other. Finally write your recommendation as a capstone of everything that you have learned from the course. Use graphs, illustrations, charts etc in your papers to improve quality. (See separate guidelines) † 4 AMDG IV. Grading System Individual reports / case analysis Group reports Long exams Group project paper Class participation V. 20% 20% 20% 20% 20% ----100% Required Textbook and/or Course pack LS 143 Family Business Management course pack. VI. Classroom Policies Class attendance will be checked in all sessions. Over-cut will be marked accordingly and considered withdrawn from the class. School rules will be strictly followed. No eating at anytime inside the classroom. Use of cell phones or beepers is strictly prohibited inside the classroom. Anyone disturbing the proceedings in class will be asked to leave the classroom and will be marked absent. Group members are expected to dress properly during reporting sessions-meaning no shorts and collarless shirts, slippers or athletic shoes. JGSOM dress code strictly enforced at all times. VII. Consultation Hours Every Friday from _______________, at the L&S Department JGSOM. Other times may be arranged with Department staff. You may email me at: or regarding important concerns. Thank you and I hope we all have a challenging, wonderful, and student-centered learning semester. ... View Full Document

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