Family Business Management

Family Business Management

Managing any business can be challenging these days particularly with the increasing impact of technology and globalization. Managing a family business can be additionally challenging as working with family members adds a further complication to the tasks of management and can make managing in some cases more difficult, in some easier or both. The Specialization will explore the business, personal and family issues found in family owned and managed companies. The managerial, strategic, and behavioral complexities in these firms are also analyzed. Through case studies and guest speakers, we consider questions of ownership, succession, sibling rivalry, attracting and retaining non-family talent, estate planning, and financing the family owned enterprise. The specialization is directed towards students who will enter into the management of family businesses, either their own family’s or someone else’s, and students who will do business with family firms, consult to them, work with them in private wealth management, mergers and acquisitions, banking, consulting, outsourcing, etc.