Essentials of Business Management

Knowledge-based competences: - To acquire an in-depth knowledge of family-owned or controlled firms, with special emphasis on their idiosyncrasies. - To provide appropriate tools to exploit the specific competitive advantages of family firms - To resolve the challenges inherent in family firms. - To become acquainted with the specific characteristics of family firm management bodies and the use of the family agreement. Skills: - Capacity to advise and manage family firms. - Ability to tackle family firms specific subjects, such as succession, professionalization, financing, etc. - To develop managerial and leadership skills in organisations where both family and business interests may be involved. Attitudes: - To understand and be able to take decisions when faced with situations that are specific to family firms. - To awaken an interest in developing a career path in a family firm, bearing in mind the importance that these companies have in the industrial fabric of today's economies.

1. Introduction to family business: family business concept; dynamics of family businesses; interpersonal relationships in family businesses. 2. Management of family businesses: conflict, human resources and strategic management in family businesses. 3. Governance in the family business: ownership, business and family governance; family constitution. 4. Succession in family businesses: ownership, governance and management succession; the incumbent generation in family business succession, the next generation in family business successsion.

Students who will be tomorrow company managers or even owners of family firms, must understand the idiosyncrasies of these organisations. To achieve this, the course will be based on the following methodology: - Classes and lectures explaining the course contents and assignments. - Practical classes based on the case study method and discussions - Final project, devoted to the analysis of a specific family firm or a family business owner.