Online course by IIM Bangalore designed to meet the needs and address the challenges of a family business owner in running their business successfully and sustainably. Bringing together the insights from Family Business professionals and practitioners, the course provides an insight into the world of Family Businesses.
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Family Businesses are a dominant form of business across the globe and play a crucial role in the economic growth of a nation. However, managing a family business comes with its own unique set of challenges owing to the overlap of family emotions and business aspirations. While the strong hold of family members over the business may dampen the spirit of other members in management, the complex structure of the business evokes a negative public perception in general. Hence, managing family businesses requires a careful, considerate, tactful approach to maintain peaceful harmony among all the stakeholders.
This course brings together the insights from experienced family business practitioners, professional managers, and academics to address the challenges of family businesses in a pragmatic manner.
Join the course if you are a family business owner, soon-to-be owner (successor of a business), professional manager, or an inquisitive learner keenly interested in family businesses.
What you’ll learn:
- The characteristic features, strengths and weaknesses of a family firm
- Strategic challenges in family firms and solutions
- Typical governance challenges and mechanisms to overcome the same
- Different types of succession options and their implementation
- Professional management of family firms
- Causes of conflict in family businesses and techniques to ensure harmony among all stakeholders within the firm and the family
