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. The minor is not available to D'Amore-McKim School of Business students nor students pursuing a combined major with the D'Amore-McKim School of Business.
Required Course
| Code | Title | Hours |
|---|---|---|
| INNO 2301 | Innovation! | 4 |
Electives
| Code | Title | Hours |
|---|---|---|
| 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 | ||
| Integrated Studies in Family Business | ||
| Additional Electives | ||
| Design Process Context and Systems | ||
| Experience Design Principles | ||
| 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