MANAGEMENT AND GOVERNANCE OF FAMILY FIRMS

A.A. di erogazione 2020/2021
Insegnamento obbligatorio

 (A.A. 2020/2021)
L'insegnamento è condiviso, tecnicamente "mutuato" con altri corsi di laurea, consultare il dettaglio nella sezione Mutuazioni
Anno di corso: 
1
Tipologia di insegnamento: 
Caratterizzante
Settore disciplinare: 
ECONOMIA AZIENDALE (SECS-P/07)
Lingua: 
Inglese
Crediti: 
6
Ciclo: 
Secondo Semestre
Ore di attivita' frontale: 
40
Dettaglio ore: 
Lezione (40 ore)

The course of Management and Governance of Family firms intends to help students: i) to deeply understand distinctive traits, evolution paths and continuity conditions of family firms, with a special focus on strategic management, organization, business governance as well as on transitions in leadership and ownership; ii) by this means, to actively contribute to family firms' viability in their future roles, both as family business members involved in management and governance and as non-family managers, advisors or managers of financial institutions.

To reach these goals, students will be challenged to build up a solid and specific theoretical knowledge (based on textbooks and other materials) as well as as to develop the ability to apply theory to cases in a problem-solving, inter-functional and inter-disciplinary perspective.

At the end of the course, students will be able to:
- critically analyze concepts and models and apply them to real situations;
- make diagnoses of various and complex family business issues;
- identify possible solutions and evaluate their pros and cons.
Such abilities will be trained in class and tested in the exam (see details on the exam in a following point).

There are no binding prerequisites, but basic knowledge of strategy, organization and business law is recommended.

The following points offer an overview of course contents (tentative durations are indicated):

Family business original traits, main challenges and continuity conditions: an overview (7 h).

The crucial role of responsible ownership values (3 h).

The strategy process and strategic decisions at business level (8 h).

Organization strategies (6 h).

Governance strategies (3 h).

Generational transitions in leadership and ownership (9 h).

Family agreements (2 h).

Governing transitions and the role of third parties (2 h).

The course is mainly carried out though traditional frontal teaching and presentations with slides. Students are highly encouraged to participate in class by asking questions and engaging in discussions.
Particularly, case discussions are aimed at applying concepts and models to real situations and thereby at strengthening students’ capacity to make diagnoses of complex problems as well as identify solution alternatives; testimonials are aimed at exposing students to a family business case by meeting a second generation young leader as well as to go deeper into the topic of ownership transitions by meeting a professional advisor.

Students' learning will be tested:
- in class by giving direct feedbacks during lectures and case discussions;
- through the exam, which is in written form and consists of 3 questions on a short family business case (not discussed in class before), lasting 2 hours
and aimed at applying theories and models learned during the course to real-life situations.
Exam evaluation criteria will be, in fact, the rigorous knowledge of concepts, theories and model as well as the capacity to use them in order to interpret concrete situations, diagnosing problems and offering solutions.

Due to the recent pandemic crisis and related restrictions it could be possible that exams take a different form. In this case, details will be promptly communicated. Nevertheless, goals and evaluation criteria will remain the same.

Course materials include:

1) Selected readings (compulsory, subject to changes, available on the website):
- The Economist, To have and to hold, Special Report on Family Companies, 18th April 2015;
- Baron, https://hbr.org/2016/03/why-the-21st-century-will-belong-to-family-busin...
- Ward, The special role of strategic planning for family businesses, FBR, 1988;
- Ward, http://www.campdenfb.com/article/family-business-advantage-unconventiona...
- Ward, Growing the family business, FBR, 1997;
- Aronoff, Ward, An open letter to the non-family executive, FEP, 2000;
- Ward, http://www.campdenfb.com/article/role-board-family-business-strategy
- Martin, Is family governance an oxymoron?, FBR, 2001;
- Corbetta, Maintaining an entrepreneurial spirit across generations, EY, 2014;
- Lansberg, The tests of a prince, HBR, 2009;
- Montemerlo, Note on team leadership, 2015;
- Montemerlo, Siblings’ capital: a special asset for family continuity, 2015.

2) Recommended textbooks (optional):
- Aronoff C., Ward J.L., “More than Family: Non-Family Executives in the Family Business”, Family Enterprise Publishers, 2000;
- Montemerlo D. and Ward J.L., The Family Constitution, Palgrave, 2011.

3) Cases for discussion (used o make the most of class work, never used as a basis for exam questions, available on the website session by session):
- Cerini;
- Balestri;
- Ferragamo.

4) Slides (compulsory, available on the website session by session).

Office hours are indicated, and regularly updated, in professor's homepage.

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A.A. 2020/2021

Anno di corso: 2
Curriculum: PERCORSO COMUNE

A.A. 2019/2020

Anno di corso: 1
Curriculum: INTERNATIONAL ENTREPRENEURSHIP & BUSINESS
Anno di corso: 2
Curriculum: PERCORSO COMUNE

A.A. 2018/2019

Anno di corso: 1
Curriculum: INTERNATIONAL ENTREPRENEURSHIP & BUSINESS
Anno di corso: 2
Curriculum: ECONOMICS OF INNOVATION

A.A. 2017/2018

Anno di corso: 1
Curriculum: PERCORSO COMUNE
Anno di corso: 2
Curriculum: ECONOMICS OF INNOVATION

A.A. 2016/2017

Anno di corso: 1
Curriculum: PERCORSO COMUNE
Anno di corso: 2
Curriculum: PERCORSO COMUNE

A.A. 2015/2016

Anno di corso: 1
Curriculum: PERCORSO COMUNE
Anno di corso: 2
Curriculum: PERCORSO COMUNE

A.A. 2014/2015

Anno di corso: 1
Curriculum: INTERNATIONAL ENTREPRENEURSHIP & BUSINESS
Anno di corso: 2
Curriculum: PERCORSO COMUNE