Entrepreneurship & Family Business - CAP sur la Lorraine :
Deal success and Sustainability over Generations
Contenu avec plan développé
Course description and Teaching Methods
It's well-known that family businesses are the predominant form of firms in the world, have longevity, incubate new business and create wealth contributing an estimated 70 to 90% of the global GDP. In Europe family enterprises represent 60 to 80% of existing companies, contribute around 50% of GPD and generate more than 60 million jobs in private sector. The family-owned businesses also have strong entrepreneurial activity over time and while they are similar to non-family enterprises in some respects, they are unique in others specifically by the significant influence of the controlling family on the creation, development, mode of growth, and exit of a business. Despite this significant level of entrepreneurial activity over time, family business management remains challenging, it is thus important to understand the unique dynamics challenge and opportunities available to these firms.
This course prepares students (1) to explore their interest in joining family enterprise and (2) to be effective managers and leaders of entrepreneurial family companies. The teaching methods include rigorous learning and practical workshops.
This class provides students with a useful framework for exploring the dynamic of entrepreneurial family firm through the family system, business system, the ownership system and their intersection. More specifically, focus will be on the examination of some critical issues such as inter-generational dynamics, managing of conflict, succession planning and transfer of power from one family member to another, perspective of different stakeholders in family firms, professionalization and strategic solution to improve family firm performance.
There is unique opportunity for sponsorship and coaching of a selected team of three students to compete in the UVM Global Family Enterprise Case Competition in Vermont (USA). In addition, students are exposed to some professionals who deal with family firms. Finally, the course is a real opportunity for extensive interaction and discussion in class as well as to view an entrepreneurial family enterprise closely through a field project.
This course aims to:
-Allow you to explore your interest in joining family enterprise as a family member that owns the business, or as supplier, a customer or an employee.
-Develop your understanding of the complexity related with the dynamic of family firms, the challenges facing family enterprises and the opportunities available to these firms
-Enhance your ability to be more creative, effective managers and leaders knowing how to navigate, to address problem facing family business and to contribute in the development of sustainable entrepreneurial family firms.
The program is organized around three main phases as follows:
1. Phase I : Professional Development (30h)
(Period of September to January)
o Lecture, Seminar, Workshop, training, coaching and ICN team selection for FECC
2. Phase II: Entrepreneurial Family Business Bootcamp
UVM Global Family Enterprise Case Competition (FECC) in Vermont, USA
(Period of January: one week)
Selected team only
3. Phase III: Entrepreneurial Family Firms Lab (EFF Lab) (45h)
(Period of January to June)
Company visits and field trips
Family Business Interviews
Case development and/or research activities
Learn to manage complex family structures over generations
Gain insights into the dynamics of family leadership, entrepreneurial leadership and business management, and family and business governance over time.
Master a range of powerful family business tools.
Develop a concrete action plan for career planning, talent development, family meetings, family agreements and governance.