EEU417 Managing the Family Business – Strategy, Governance, and Change

• Topics

  The course aims to highlight the significance of family firms in both research and practical applications, emphasizing their unique contributions to the business landscape. Students will explore the specific characteristics that differentiate family firms from non-family businesses, such as governance structures and decision-making processes, while also becoming aware of the diverse forms these enterprises can take. The course will introduce relevant theories from family firm research and demonstrate their practical applications, equipping students with the knowledge needed to navigate this sector effectively.

  The topics addressed in this course are:

  • Understanding family firms
  • Ownership and governance
  • Taxation of family firms
  • Leadership
  • Succession and generational change

  The course is a COIL (Collaborative Online International Learning) between 3 partner universities of the ENGAGE.EU European Alliance: University of Mannheim, the University of National and Worlds Economy (UNWE) in Sofia, Bulgaria and NHH Norwegian School of Economics. The COIL framework and organization of guest speakers from different countries ensures an international perspective on family business management.

• Learning outcome

  Upon successful completion of the course, the students will

  Knowledge

  • Have acquired a toolbox with established management frameworks.

  Skills

  • Be able to critically evaluate governance structures in family firms.
  • Be able to assess the complexities of succession planning in family businesses and its impact on long-term sustainability.
  • Be able to formulate strategic approaches for value creation in family firms by harnessing distinctive family assets, while addressing challenges in innovation and internationalization.
  • Be able to diagnose common crises in family businesses and devise preventive measures alongside effective response strategies.

  General competence

  • Be able to work collaboratively to analyze case studies and recommend tailored solutions.
  • Be able to collaborate and lead in global virtual teams.
  • Be able to present results both verbally and visually in a hybrid setting.
  • Have developed analytical and problem-solving skills.

• Teaching

  The teaching will be conducted in a hybrid format in a lecture hall at NHH. Lectures will partly take place as in-person sessions and partly as online sessions. Students are expected to attend all course activities.

  The course is structured into four block seminar days in March and April. For the first three blocks in March, the partner universities take turns in leading the course. Each block day includes two theoretical lectures, followed by a guest lecture from a speaker representing a renowned national family business, providing practical context to the theoretical concepts. Afterward, students work collaboratively in small groups to analyze case studies related to the lecture topics, preparing for the final presentation. On the last block day in April, students present their group case studies.

  Groups are composed of students from all three institutions. The groups remain permanent throughout the whole course. The permanence of the groups allows relationships to form, but it also implies that students must manage relationships throughout the course with people different from themselves and work on their collaboration skills. In their groups, students will work on the small in-class case studies and the big group case study.

• Restricted access

  The course is an ENGAGE.EU signature course offered to all students from the University of Mannheim (Germany), the Norwegian School of Economics (NHH, Norway), and the University of National and World Economy (UNWE, Bulgaria).

  The course has a limit of 60 students to ensure the interactive nature of the classes. The course will accept up to 20 students from each partner institution. The students apply for the course to their home universities.

  NHH students apply for access via Studentweb. All students that apply must send their CV and a short motivation statement specifying why they want to participate in the course (100 words) to the lecturer Theresa Bührle (theresa.buhrle@nhh.no). Students are not selected on first-com-first-serve basis, but based on their motivation letter.

• Recommended prerequisites

  A foundational knowledge of management principles, corporate governance, and business strategy, along with experience in case study analysis or group collaboration, is recommended for this course.

• Compulsory Activity

  Attendance is mandatory and all students are required to attend all classes (exceptions are made for students who provide a medical certificate or have an exam).

  Course approval is only valid in the semester it has been obtained. In order to retake the course, students must retake compulsory activities (work requirements).

• Assessment

  A final grade will be given after the assessment of the course portfolio and school exam.

  Portfolio assessment (60%), consisting of the following:

  • Three in-class group cases (approximately 8%)
  • Final group presentation (approximately 32%)
  • Individual essay (NHH students only) (approximately 20%)

  To enhance the learning experience and foster international discourse, students will be pre-allocated to groups of 5-6 students across universities. The groups remain together throughout, collaborating on short case-based questions after each block day, and ultimately preparing a final presentation in April. Each group is assigned a company, applying course concepts to real-world scenarios, with progress shared in brief presentations after each session and a comprehensive presentation on the final block day. All parts of the portfolio assessment need to be answered in English. Since oral presentations are parts of the portfolio, the portfolio grade cannot be appealed.

  All parts of the portfolio have to be taken in the same semester and it is not possible to retake the elements separately.

  • 2-hours individual school exam with pen and paper (40%).

• Grading Scale

  A-F.

• Permitted Support Material

  Calculator

  One bilingual dictionary (Category I)

  All in accordance with Supplementary provisions to the Regulations for Full-time Study Programmes at the Norwegian School of Economics Ch.4 Permitted support material https://www.nhh.no/en/for-students/regulations/https://www.nhh.no/en/for-students/regulations/and https://www.nhh.no/en/for-students/examinations/examination-support-materials/https://www.nhh.no/en/for-students/examinations/examination-support-materials/