COMMGMT 7003 - Family Business Fundamentals

The purpose of this course is to enhance students' understanding of the characteristics, contributions, and issues unique to family businesses. Topics include the uniqueness and importance of family business, family governance, transgenerational entrepreneurship, professionalization, as well as succession and strategic planning. Key theories used in the family business field will also be introduced and applied in the course, such as systems theory, agency and stewardship theory, the resource-based view, and the socio-emotional wealth perspective. This course utilises a case study method where students are taught how to analyse, develop and deliver recommendations on real family business cases using the theoretical frameworks covered. By design, Family Business Fundamentals is a foundational course for those seeking to be a professional advisor to or leader of family businesses. The course will appeal to those who are interested in succeeding or starting their own family business, as well as those interacting with family businesses as advisors, managers, or policy-makers.