EPS 3515 - Entrep: Key to Success Family Bus Entrpr

Institution:

Babson College

Subject:

Description:

4.00 credits EPS3515 Entrep: Key to Success Family Business Enterprises (General Credit) We at Babson believe that entrepreneurship is the key to family business success. We also believe that to be successful, a family business enterprise must view each challenge from a multigenerational perspective. The business must also examine its goals, objectives, ability to reinvent itself and its growth. This is a unique course in that: a. It is designed by the students, who are the customers for this class; b. It is also 100% case method; c. The students form teams and grades are team scores; d. Most of the case studies come from actual experiences of family businesses or start ups. The students decide on what subjects are stressed. The course is most useful for students interested in the issues, challenges and unique concerns of family business involvement and management and in starting up businesses with family members. It is intended for those who are now affiliated with family firms or may be in the future. The course draws heavily on the personal experiences, cases, videos, and guest speakers, and it focuses on the critical aspects of family business success. The course is organized around the following themes: mentoring, reinvention, individual development and career planning; management of family structure, conflicts, and relationships; and organizational issues including succession and estate planning, strategic planning, and formalizing the firm. It is designed for those students who will be entering a family-owned business, now or in the future, or expect to someday establish a business which they can leave to their children. The classes emphasize the tools and techniques that provide the entrepreneur with the greatest opportunity for success. The foundation of learning for the classes comes from case studies, readings, and lively class discussions that focus on practical methods of handling the challenges unique to business owned and managed by families. No formal textbook is used and the students make the decisions as to what subjects will be covered and how the class is graded. Some of the topics covered in prior classes include succession planning, handling conflicts, dealing with non-family members, re-invention of the business, management styles, strategy, leadership, SWOT analysis, performance expectations, family risk profiles, the family issue, building teams, fairness, taxes, estate planning, negotiation, passing the baton, etc. We also spend considerable time on the practical challenges facing our students, involving the evolution of the enterprise from the first generation entrepreneurial stage into the family business of the second, third and succeeding generations. We work hard to find methods whereby these entities will be successful in the future. The students will have "one on one" time provided with the professor. The students will also participate in a "Real Business World Computer Simulation" event. A special feature is a Family Business Weekend involving students, siblings, friends, alumni, family and professors in which actual situations are discussed and solutions offered. Prerequisites: IME 2 or (MCE and OEM) This course is typically offered in the following semesters: Fall and Spring.

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.babson.edu

Phone Number:

(781) 235-1200

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Semester

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