MAN 607: Managing the Family Business – Strategy, Governance, and Change

Contents
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 curriculum features guest lectures from industry experts and case presentations for practical insights. This hybrid format combines in-person and online teaching, promoting collaboration among students from the ENGAGE.EU network while fostering academic and intercultural development.
Course outline:
The course is structured into four block seminar days spread over five weeks in the summer semester of 2025. Each block day includes two theoretical lectures delivered by Prof. Dr. Michael Woywode, followed by a guest lecture from a speaker representing a renowned German 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, students present their group case studies.

Learning outcomes
Upon successful completion of the module, students will be able to:

• Critically evaluate governance structures in family versus non-family firms using established frameworks.
• Assess the complexities of succession planning in family businesses and its impact on long-term sustainability.
• Formulate strategic approaches for value creation in family firms by harnessing distinctive family assets, while addressing challenges in innovation and internationalization.
• Diagnose common crises in family businesses and devise preventive measures alongside effective response strategies.
• Work collaboratively to analyze case studies and recommend tailored solutions for the unique challenges faced by family enterprises.

Necessary prerequisites
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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.

Examiner Performing lecturer

Prof. Dr. Michael Woywode Prof. Dr. Michael Woywode, Elisa Sauerbier