Family Business

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University of North Carolina at Greensboro
Bryan School of Business and Economics
Department of Business Administration

ENT/BUS 337 Family Business
M-W 2:00pm - 3:15pm – (Room 216 Bryan Building)

Professor: W. Noah Reynolds, CPA MBAEmail: wnreynol@uncg.edu
Office: TBD – after classHome: NA
Phone: (336) 971-1600Fax: NA
Office Hours: By appointment

Credits: 3:3

Prerequisites: None

CATALOG DESCRIPTION:

This course is designed to provide an overview of family business, including what is required for family harmony and business continuity.

STUDENT LEARNING OUTCOMES:

This course is an upper level elective designed for students interested in pursuing a career in a family business environment. Upon completion of the course, the student should be able to:

1. Identify the social and economic impact of family business. 2. Explain family business dynamics in terms of three elements – the individual, the family, and the business. 3. Apply the specific practices and skills of effective family businesses. 4. Integrate entrepreneurial and professional management concepts for strengthening family business organizational performance.

COURSE OBJECTIVES:

This course explores the challenges and opportunities facing individuals and families involved in family business relationships. The course uses a systems model of the family and business to demonstrate the interrelationships and connections among the key stakeholders.

Some of the specific topics include the family system, culture, entrepreneurial influences, conflict and negotiation, career planning, ethics, governance, succession and strategic planning, professional support relationships, and survival skills as a son or daughter in a family business.

Students are encouraged to invite a parent or other significant relatives from their family business to attend and participate in the course. University experience has demonstrated that families participating in this course report improved family learning and development.

This course is designed to provide an overview of the planning and management process required for family harmony and business continuity. The course is structured as a seminar on family business success factors. Each student group will select a family business and complete four exercises exploring their own selected family business situation. The first exercise will provide an overview of the family history and culture with three additional exercises addressing family participation, leadership development, and strategic planning. These exercises represent a foundation for the development of a comprehensive planning process for a family business.

The learning activities include lectures, assessments, exercises, guest speakers, family projects, videos, case and class discussion, text readings and outside reading assignments. The study of family business is a multidisciplinary academic topic and consequently, guest speakers will be used to provide the most current information and professional experience. Each class session is designed to provide theory or background information and an opportunity for application in the form of cases, guest speakers, or student activities. The diagram below represents a family business planning model that is demonstrated in the family projects completed throughout the course. It is found on page 12 of the text (handout), Strategic planning for the family business by Carlock & Ward. (BB)

THE PARALLEL PLANNING PROCESS
Management
Philosophy

Management
Philosophy

Core Values

Core Values
|

Family
Commitment

Family
Commitment

| |
Strategic
Commitment

Strategic
Commitment
Values| | |
FAMILY| | Strategic Thinking| | BUBINESS|

Family Vision

Family Vision
| |
Business Vision

Business Vision...
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