Course Description: Students will learn to work effectively in and with family enterprises - the predominant organizational form in the world. By understanding their unique advantages and challenges, students will learn to develop strategic solutions to improve the family and business performance. Prerequisites: BSAD 120; Business Administration, Engineering Management major; Business Administration minor; minimum Junior standing.
Section Description: About half of the undergraduate students at the Grossman School of Business @ UVM have at least one member of their family running an independent business. In most instances, more than one member of the family is involved in the ownership, management and/or governance of the business. Is this student background unique to UVMs Business School? Not really! Family businesses are the predominant form of business organizations in the world contributing an estimated 70-90% of the global GDP. In the United States, these enterprises contribute over 64% of GDP and generate 62% of employment. The greatest part of American wealth lies with family controlled firms. These firms are distinguished from other organizations by the significant influence of the controlling family on the creation, continuity, mode and extent of growth, and exit of a business. While family enterprises are amongst the smallest and largest, youngest and oldest of enterprises in developed and developing economies, they have their unique strengths and challenges. It is no wonder then that the most progressive accounting & consulting firms, banks & governments are devoting special attention to serving this sector of our economy. With the ageing of the boomer generation, the wealth and leadership of family businesses must be transitioned to the next generation of family or non-family leaders. Only firms that are able to engage capable next-gen leaders are likely to survive and thrive through this generational transition. To work effectively and professionally, in and with family firms, to launch and create cross-generational value and wealth in family firms, it is important to understand the unique dynamics, challenges and opportunities available to these firms. This course prepares students for such an understanding. The Grossman School of Business @ UVM is among the Top 25 Business Schools in the world for FB programs that include the Global Family Enterprise Case Competition (FECC), the Family Enterprise Research Conference (FERC), and Family Business Awards (FBA).
|W||12:00 - 15:00||IFSHIN HALL 358|
Instructor(s): Pramodita Sharma
Meeting Dates: 26 Aug 2019 - 06 Dec 2019