Strategia e gestione delle imprese familiari - eng
STRATEGIC MANAGEMENT IN FAMILY BUSINESSES
Prof. Lucrezia Songini – I module
Prof. Paola Vola – II module
Course Code: E0011
Subject Code: SSD SECS P/07
8 ECTS – 64 hours
Location: Novara
• Teaching Language: Italian.
A part of the reference material is provided in English.
Guest Italian and English speakers, such as managers and professors, having relevant experience in the field, will be invited.
• Contents
The course is a half-year one and it is divided in two modules. The contents of the two modules are tightly connected and will be developed partially in each of the two modules. The modules share the same teaching methods and examination process.
The course aims to present the characteristics of family firms with the purpose of developing the students' ability to identify and analyze the strengths, weaknesses and the typical operating requirements of such firms, and to propose appropriate responses to the specific managerial demands of these enterprises.
The course focuses on the strategy of family businesses, the way they are organized in terms of structure, processes, roles and responsibilities, on their operational mechanisms, such as planning and control, and corporate governance systems, on fiscal and policy issues and family firms’ value.
In consideration of the importance of these aspects for the development and success of family businesses, a particular attention will be devoted to family succession and company growth management.
• Course Text
For attending and non-attending students, the adopted books are as follows:
AA.VV. (Songini L., Vola P., …), Le imprese familiari, in corso di pubblicazione.
Vola P., La pianificazione del passaggio generazionale nelle family firms, Giappichelli, 2012.
Corbetta G., Le aziende familiari. Strategie per il lungo periodo, EGEA, Milano, 2010.
For attending and non-attending students, other reference material (slides, case studies, articles) produced by the lecturers will be made available in the web page of the course at the URL https://eco.dir.unipmn.it/
Lecturers will also decide upon the adoption, if necessary, of one or more textbooks, among those recommended.
Recommended books:
Miller D., Le Breton-Miller I., Mantenere il successo. Lezioni di vantaggio competitivo dalle grandi imprese familiari, Etas, 2005 (ed. or. "Managing for the Lon Run. Lessons in Competitive Advantage from Great Family Businesses", Harvard Business School Press, 2005).
Poutziouris P. Z., Smyrnios K. X., Klein S. B, Handbook of Research on Family Business, Edward Elgar Publishing Limited, 2006.
Gnan L., Montemerlo D., Le PMI familiari in Italia tra tradizione e novità. I risultati di una ricerca, EGEA, Milano, 2008.
Montemerlo D., Continuità generazionale e accordi familiari. Principi e regole per l'impresa, la proprietà e la famiglia, EGEA, 2009.
Corbetta G., Salvato C., Strategies for Longevity in Family Firms. A European Perspective, Palgrave Macmillan, 2012.
Poutziouris P., Smyrnios K., Goel S. (edited by), Elgar Family Business Research Handbook, Volume 2., Edward Elgar Publishing, 2013.
• Educational Aims
The course aims to present the characteristics of family firms with the purpose of developing the students' ability to identify and analyze the strengths, weaknesses and the typical operating requirements of such firms, and to propose appropriate responses to the specific managerial demands of these enterprises.
• Prerequisites
None
• Teaching Method
Different teaching tools will be used:
a) traditional lessons in class where the lecturers will present problems, solutions and tools for family business management;
b) case studies, where the theories are presented in real business situations;
c) guest speakers having an experience relevant in the field as managers, professionals or professors.
The course is highly interactive and may involve carrying out simulations, hosting guest speakers, real case studies discussions, group assignments.
Students can participate in a team work project, aimed at testing and developing principles, methods and tools presented during lessons in the analysis of a real case study concerning family firms.
Class attendance is recommended but is not mandatory.
• Other information
None
• Examination
Final written exam both for attending and non-attending students
The team work project’s score will be added to the final written exam’s score.
Final exam is made by I and II module at the same time, as a whole: students have to take the exam of each module in the same date.
• Detailed programme
The contents of both modules are the following ones:
1. Family firms and non-family firms: typical characteristics, strengths and weaknesses
Role and importance of family firms: international and national data
Vision, mission and objectives of the family and of the firm
Types of family firms
The relationship between the family and the firm: overlapping roles
Relevant stakeholders of family firms, local roots and attitude towards corporate social responsibility
2. Corporate structure and governance
Firm and family governance bodies
The involvement of external members in the firm’s governance
Role of the board of directors
3. Trade-off between entrepreneurship and managerialization
The managerialization of family firms: key issues and determinants
Pro and cons of managerialization
Managerialization and business performance: some data
The role of planning and control mechanisms
External managers: when and how involve them in a family firm?
How to manage the relationships between external managers and family members
Professional development and careers in family businesses
The role of the CEO and of the CFO
4. Continuity and development in family firms
Long-term vision of the family
Letting an external party acquire some of the firm’s equity
IPO for family firms and listed family businesses
5. Family business succession process
Family business succession: critical aspects
How to prepare the succession
How to choose the future leader
Some particular situations: no heirs, many heirs, when the successor is a woman