Managing Family Businesses for Success
Learn essential strategies to effectively manage and scale family enterprises through a comprehensive 5-week program focused on sustainable growth principles.
Learn essential strategies to effectively manage and scale family enterprises through a comprehensive 5-week program focused on sustainable growth principles.
This introductory course offers a comprehensive overview of managing family businesses for sustained success. Over five weeks, participants will explore the unique challenges and opportunities inherent in family-owned enterprises. The curriculum draws insights from experienced family business practitioners, professional managers, and academics to address real-world challenges pragmatically. Learners will gain understanding of the characteristic features, strengths, and weaknesses of family firms, as well as strategic and governance challenges. The course covers crucial topics such as succession planning, professional management, and conflict resolution within family businesses. By combining theoretical knowledge with practical insights, this course equips family business owners, successors, professional managers, and interested learners with the tools to navigate the complex landscape of family businesses, ensuring harmony among stakeholders and long-term sustainability.
Instructors:
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What you'll learn
Identify the characteristic features, strengths, and weaknesses of family firms
Develop strategies to address unique challenges in family businesses
Implement effective governance mechanisms for family-owned enterprises
Plan and execute successful succession strategies in family businesses
Integrate professional management practices into family-run companies
Manage conflicts and ensure harmony among stakeholders in family firms
Skills you'll gain
This course includes:
PreRecorded video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
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Module Description
This comprehensive course on managing family businesses for sustained success addresses the unique challenges and opportunities faced by family-owned enterprises. The curriculum is designed to provide a balanced mix of theoretical knowledge and practical insights. Participants will first explore the characteristic features, strengths, and weaknesses of family firms, gaining a foundational understanding of what sets these businesses apart. The course then delves into strategic challenges specific to family businesses, offering solutions that balance family dynamics with business objectives. A significant portion of the course is dedicated to governance challenges, introducing mechanisms to overcome common issues in family-owned companies. Succession planning, a critical aspect of family business continuity, is thoroughly covered, with discussions on different succession options and their implementation strategies. The course also addresses the professional management of family firms, exploring ways to integrate non-family professionals effectively. Throughout the program, there's a strong focus on conflict management, providing techniques to ensure harmony among all stakeholders within both the firm and the family. By combining insights from experienced practitioners, professional managers, and academics, the course offers a well-rounded perspective on successfully managing and sustaining family businesses.
Fee Structure
Instructors
1 Course
Distinguished Entrepreneurship Expert and Former CEO at IIM Bangalore
Dr. K. Kumar is the Apeejay Surrendra Chair Professor of Family Business and Entrepreneurship at the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), IIM Bangalore. With over 16 years of industry experience, Kumar brings a unique blend of academic expertise and practical entrepreneurial knowledge to his role. Before joining IIMB in 2001, he gained firsthand entrepreneurial experience by founding three companies and held leadership positions including CEO and President in various reputed organizations
1 Course
Network Economics and Entrepreneurship Expert at IIM Bangalore
Professor Dalhia Mani is a faculty member in the Entrepreneurship area at IIM Bangalore, bringing expertise in network economics and firm ownership structures. After completing her Ph.D. from the University of Minnesota in 2010, she served as an Assistant Professor at HEC Paris, France until 2016 before joining IIM Bangalore. Her research focuses on examining the complex networks of ownership ties between firms and their impact on various business outcomes, including firm performance, innovation, tax sheltering, and tunnelling. At a micro-level, Mani studies how individuals interact and utilize their networks in complex and uncertain situations. Her work contributes significantly to understanding the relationship between organizational networks and business performance, particularly in entrepreneurial contexts. Through her teaching at IIM Bangalore, she helps students understand the intricate relationships between firms and their impact on business success.
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Frequently asked questions
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