Family Business, Minor

A family business is a commercial organization owned or controlled by members of a single family or extended family, including relatives related by blood, marriage, or adoption. Family controlled companies are a dominant form of enterprise worldwide. Due to the inextricable link between family and the business, family firms must grapple with unique challenges in that the business decisions are often intertwined with family dynamics, as in the case of succession planning and corporate governance. The purpose of this minor is to provide insight and understanding of the distinct challenges, opportunities, and practices of family/owner-controlled companies.

The minor covers family and business issues of family firms, including family values and culture, managing conflict, sibling rivalry, entitlement, hiring family and nonfamily employees, management of the family business, facilitating growth and change, and succession planning. This minor is intended for those contemplating a career in a family business and for those who plan to consult or provide professional services to family businesses. It will present both a theoretical framework for understanding the family form of business and a practical perspective on working for, or consulting to, a family/owner-controlled business.

Complete all courses listed below unless otherwise indicated. Also complete any corequisite labs, recitations, clinicals, or tools courses where specified. This minor is not open to DMSB students or students pursuing a combined major with DMSB.

Required Course

ENTR 2301Innovation!4

Electives

Complete three courses, one of which may be chosen from the additional elective option list:12
Understanding Family Enterprise
Managing and Growing the Family Business
Consulting Operations Growth in SMEs
Advanced Studies in Family Business
Additional Electives
Design Process Context and Systems
Experience Design 1
Software Development
Mobile Application Development
Web Development
The Entrepreneurial Universe
The Business of Games
Engineering Design (Enginerring Students Only)
Product Development for Engineers (Enginerring Students Only)

GPA Requirement

2.000 GPA required in the minor