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Faculty of Business ManagementUNIVERSITI UTARA MALAYSIA

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Course Code : PME 3043Course Title : Family BusinessPre- requisite : Nil

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1.0 SYNOPSIS

This course emphasizes on the management of family business. Students willbe exposed to the concept of family business, the development model of familybusiness, communication, conflicts and solutions, compensation model, strategicplanning, and succession planning. They will also be exposed to the strengthand weaknesses of family business, dynamic interaction, family business cultureand issues regarding family business.

2.0 OBJECTIVES :

Upon completion, students will be able to :

2.1 Identify the characteristics of family business.2.2 Differentiate family business to other types of business.2.3 Identify the life cycles of family business.2.4 Identify conflict solving methods between the owner, manager, family

members and relatives.2.5 Choose the appropriate planning methods and techniques applicable to

family business.

3.0 REFERENCES

3.1 Main Reference:

3.1.1 Gersick, K.E, Davis, J.A., Hampton, M.M. dan Lansberg, I. (1997).Generation to Generation: Life Cycles of the Family Business.Harvard Business School Press.

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3.2 Additional References

3.2.1 Rosenblatt, P.C., Mik, L.D., Anderson, R.M., dan Johnson, P.A.(1985). The Family in Business. San Francisco: Jossey-BassPublishers.

3.2.2 Friedman, M. Dan Friedman, S. (1994). How to Run A FamilyBusiness: How to own, operate and ensure the continuation ofyour family business. Ohio: Betterway Books.

3.2.3 Bork, D., Jaffe, D.T., Lane, S.H., Dashew, L., Heisler, Q.G. (1996).Working withFamily Businesses: A Guide for Professionals. SanFrancisco: Jossey-Bass Publishers.

3.2.4 Ward, J.L. (1987). Keeping the Family Business Healthy: How toPlan for Continuing Growth, Profitability and Family Leadership.San Francisco: Jossey-Bass Publishers.

4.0 TEACHING METHOD

The method used comprises of lectures, guest speakers, educational tour, casestudies.

5.0 ASSESSMENT*

Coursework : 60%

Quizzes/Presentation 10%

Assignment 1 25%

Assignment 2 25%

Final Exam : 40%(Structure and essay questions)

Total : 100%

* Subject to change.

6.0 COURSE CONTENT

NO. CONTENT HOURS

1. INTRODUCTION

What is family business?

The advantages and disadvantages of family business

The role of becoming members in family business

A developmental model of family business

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2. THE THREE-DIMENSIONAL DEVELOPMENTAL MODELOF FAMILY BUSINESS

The ownership developmental dimension

The family developmental dimension

The business developmental dimension

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3. CONFLICTS AND SOLUTIONS

The importance of conflict

Sources of conflict in family business

Advisors role in conflict situations

Strategies for resolving conflicts-conflict resolution

approach

3

4.CLASSICAL TYPES OF FAMILY BUSINESS

Introduction

Founders and entrepreneurial experience

The growing and evolving family business

The complex family enterprise

The diversity of succession

3

5. SUCCESSION AND FAMILY BUSINESS

Introduction

Business succession phase

Factors influence succession in family business

Succession strategy

Several method of succession

MID-EXAMINATION

6

6. MANAGING INHERITED BUSINESS

Introduction

The personal dilemma of managing inherited business

wealth

The confidentiality of family business

3

7. SELLING OR BUYING FAMILY BUSINESS Introduction

Establishing a price for the business

Mergers and acquisition

3

8. COMPENSATION 3

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Compensating owners, family and non-family members

Compensating executive directors

Compensating employees

9. STRATEGIC PLANNING AND ESTATEPLANNING IN

FAMILY BUSINESS Definition and the importance of strategic planning in

family business

Issues in strategic planning

What is estate planning?

Gathering information and objective formulations

Tentative plan

3

10. SHARING EXPERIENCE WITH THE OWNER OF FAMILYBUSINESS

6

11. ISSUES IN FAMILY BUSINESS 3

TOTAL OF CREDIT HOURS 42

Student participation in the class is compulsory. Students mustparticipate in any discussion or activities that require their participation.

REMINDER

ATTENDANCE TO CLASSES IS COMPULSORY. Attendance of less than 80%can prohibit the student from sitting for the final exam. If the student hasany problems, he or she is advised to meet and discuss with their subjectlecturer.

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