Ateneo - UPO

The course is a half-year program, divided into two modules. The contents of the two modules are closely connected and will be developed 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, and on their operational mechanisms, such as planning and control, human resource management, and corporate governance systems. In consideration of the importance of these aspects for the development and success of family businesses, particular attention will be devoted to family succession and company growth management. Finally, the issues of the role of women in family businesses and century-old businesses are discussed.

For attending and non-attending students, the adopted books are as follows: Faraudello A., Morelli C., Songini L., Strategia e organizzazione delle imprese familiari - Casi di successo. Pearson, 2019. Zellweger T., Managing the family business. Theory and practice, Edward Elgar Publishing, 2017. Songini L. and Gnan L., (editors), Handbook on Accounting and Control in Family Business, Edward Elgar Publishing (forthcoming). For attending and non-attending students, other reference material (slides, case studies, articles) produced by the lecturers will be made available on the course web page at the URL https://www.dir.uniupo.it/. Lecturers will also decide, if necessary, to adopt one or more textbooks among those recommended. Recommended books: Corbetta G., Le aziende familiari. Strategie per il lungo periodo, EGEA, Milano, 2010. Miller D., Le Breton-Miller I., 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. Vola P., La pianificazione del passaggio generazionale nelle family firms, Giappichelli, 2012. Poutziouris P., Smyrnios K., Goel S. (edited by), Elgar Family Business Research Handbook, Volume 2., Edward Elgar Publishing, 2013.

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. More in detail, it aims to: a) enlarge students' competences and knowledge, proposing new approaches specific for family businesses; b) critically discuss and apply models for analysing typical managerial issues of family business; c) develop critical competences on desinging and implementing managerial and governance systems both in the family business and in the family itself.

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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 and methodologies are presented and discussed in real business situations; c) guest speakers having an experience relevant in the field as entrepreneurs, managers or professionals with experience in family business d) Videos which may represent either incident that stimulate discussion, or speeches made by expert on the course's topics e) Teamwork aimed at testing and developing principles, methods and tools presented during lessons in the analysis of real case studies of family firms. The course is highly interactive, as it involves carrying out simulations, hosting guest speakers, real case studies discussions, group assignments. Class attendance is recommended but is not mandatory.

Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools via the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti, consulting the University webpage: https://www.uniupo.it/en/services/servicesstudentsphysical-or-learning-disabilites Students with disabilites, learning disabilites or special educaton needs, once they have contacted the University Staff, can refer to the tutor in charge of the course to define the examination modalities, concerning academic aspects.

Final written exam for both attending and non-attending students. The written exam consists of both open-ended questions, aimed at testing acquired knowledge, and the analysis and critical discussion of a case study, aimed at verifying students' competences and capabilities in understanding a specific context, proposing consistent solutions, and applying the acquired knowledge and methods. The teamwork project’s score will be added to the final written exam’s score. This score will evaluate students' competences and capabilities of understandinfìg a real context, critically applying models and methods, and effectively communicating project work's results. Final exam is made by I and II modules at the same time, as a whole: students have to take the exam of each module on the same date. To get a positive final vote in the written exam, it is needed to obtain a score of at least 18 in both parts of the exam, concerning both modules

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; human resource management in family firms - 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 Integration of gender issues: the role of women in family firms

After having attended the course, students will be able to:
1) give a diagnosis of the points of strenght and weaknesses of family business
2) identify different kinds of family businesses and their specific managerial needs
3) understand, design and use autonomously and critically mechanisms, tools and methods presented during the course
4) apply critically and differently principles, tools, methods and mechanisms to different types of family firms