Family Businesses have long exhibited the heuristics of entrepreneurship. It is not an overstatement to say that the lessons from family business will enhance students knowledge and understanding of entrepreneurial ventures that play the long game. Research has shown that family businesses that have grown and survived generational change have adopted a professionalization process in their management practices quite distinct from those that struggle and sometimes fail. This subject is designed to combine research findings from family business and entrepreneurship, with mainstream organisational research and traditional management practices. It provides insights and strategies into how family businesses professionalise their management methods and build long-term, multi-generational companies.
|Faculty||Bond Business School|
1. Identify and analyse problems and opportunities unique to family businesses
2. Formulate recommendations for courses of action that are both conceptually sound and evidence-based
3. Communicate effectively, professionally, and sensitively in family business situations through writing, speaking and listening skills
4. Identify where a business presently is situated in management practices terms
5. Institute the required practices to professionalise the business