Family Business Foundations
This course is designed for family business owners, next-generation family business successors, family business advisors, and family business family members providing learners with the foundational knowledge of family businesses and family systems dynamics for generational family business success focusing on 5 key areas:
1. Family Business Dynamics: Learners will explore the unique characteristics of family businesses, focusing on the interplay between family systems and business systems.
2. Governance Structures: Learners will discover effective governance models that balance the interests of both the family and the business, promoting harmonious collaboration.
3. Family Business Terminology Toolkit: Learners will become familiar with essential terminology and foundational concepts that provide a comprehensive understanding of the family enterprise landscape.
4. Crisis Management in Family Business: Learners will develop skills to identify and navigate conflicts that may arise within the family business, recognizing the intersection of challenges from the boardroom to the dining room.
5. Networking and Best Practices: Learners will engage with fellow family business owners and experts to share experiences and foster connections, including continued collaboration with the Alderson and Griffin Center for Family Business and Entrepreneurship at Texas Tech University.
Skills / Knowledge
- Time Management
- Conflict Resolution
- Succession Planning
- Leadership Identification
- Family Business Dynamics
- Networking
- Governance Structures
- Governance Models
- Crisis Management
- Terminology Proficiency
- Business Dynamics
Earning Criteria
Optional
Learners attend and participate in instructor led Zoom sessions as well as join the Networking Pass.
Learners complete a capstone project paper plotting the crisis circle. The capstone project enables learners to identify their role in the family business. Learners also engage in role play scenarios where they must navigate conflicts and governance challenges within the family business and the business family.
Learners participate in a discussion on the relational lens versus the transactional lens and a discussion on the vantage point role play - based on the circle model.
Learners read course modules, view tutorial videos, and read and/or summarize case studies.
Learners gain knowledge of family business terminology and foundational concepts providing a comprehensive understanding of the family enterprise landscape.
Learners develop crisis management skills to identify and navigate conflicts that may arise within the family business, recognizing the intersection of challenges from the boardroom to the dining room.