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Academic Catalog 2021-2022

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Family Business

2021-2022 Edition

  • Undergraduate
    • Admission
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    • College of Arts, Media and Design
    • D'Amore-​McKim School of Business
      • Bachelor of Science in Business Administration, BSBA
      • Bachelor of Science in International Business, BSIB
      • Combined Majors
      • Concentrations
        • Accounting
        • Brand Management
        • Business Analytics
        • Corporate Innovation and Venture
        • Entrepreneurial Startups
        • Family Business
        • Finance
        • Fintech
        • Global Business and Strategy
        • Healthcare Management and Consulting
        • International Business
        • Management
        • Management Information Systems
        • Marketing
        • Marketing Analytics
        • Social Innovation and Entrepreneurship
        • Supply Chain Management
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    • Faculty
    • Appendix
  • College of Professional Studies Undergraduate
  • Graduate
  • Course Descriptions
  • Catalog Archives
  • Overview
  • Concentration Requirements

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 concentration is to provide insight and understanding of the distinct challenges, opportunities, and practices of family/owner-controlled companies.

The concentration 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 concentration 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.

Concentration in Family Business

Course List
Code Title Hours
Required Courses
ENTR 2301Innovation!4
ENTR 4503Advanced Studies in Family Business4
Electives
Complete two electives, one of which may come from the Additional Elective list:8
ENTR 2215
Understanding Family Enterprise
ENTR 3302
Managing and Growing the Family Business
ENTR 3401
Consulting Operations Growth in SMEs
Additional Electives
ENTR 2206
Global Social Enterprise
ENTR 2303
Marketing Strategies for Startups
ENTR 2304
Industry Disruption and Corporate Transformation
ENTR 4983
Special Topics in Entrepreneurship
FINA 4610
Entrepreneurial Finance and Private Equity
MGMT 3302
Negotiating in Business
Students may use one course from an approved Dialogue experience toward the elective area of the concentration.
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