INTERDISCIPLINARY ELECTIVE

Registration open from March 25 until April 8, 2024

Short Facts

Date: November 8 until November 23, 2024
Student Workload: 5 ECTS
Format: On-campus, online, mixed
Language: English
Participants: Students of various Bachelor programs at MCI
Prior knowledge: No prior knowledge in the specific topic required

EXPLORE I EXCHANGE I EVOLVE

As a student of MCI I The Entrepreneurial School®, you not only enjoy a profound study program in your relevant discipline, you also have the unique opportunity to participate in one of our interdisciplinary electives from a wide range of inspiring topics.Our multidisciplinary curricula allow you to "look beyond" your own study program and work together with students from other disciplines. Prepare yourself for an educational adventure that will transform your perspective and ignite your intellectual curiosity!

Contact

If you have any questions about the electives, please contact the office management of your study program.

How to choose your elective

Overview

Get an overview of the electives and their contents

Selection

Find your four favorite electives from the total offer

Prioritization

Prioritize your four electives on the registration site

Assignment

We will assign you to one of your four electives

Notification

You will receive an email with the final allocation

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Next Generation of Family Business Leaders

English

Next Generation of Family Business Leaders

This course offers the opportunity to acquire in-depth, practical knowledge on family business, regardless of whether you are a student studying business administration or a non-specialist student, and irrespective of whether you come from a family business background or not.

The special practical relevance is achieved through a unique network of family businesses that has evolved at the MCI Family Business Center. Some of these businesses will be visited during our field trip. Family firm knowledge opens up a variety of career opportunities for graduates, since family firms are the dominant corporate form worldwide.

Short Facts

Who is your lecturer?

Prof. Anita Zehrer graduated from Innsbruck University, Austria with a PhD in Social Sciences and received her post-doctoral lecturing qualification at the Catholic University of Eichstaett-Ingolstadt, Germany. Currently she is Professor and Head of the Family Business Center as well as Head of Research (Management & Society) at the MCI The Entrepreneurial School ®. Additionally, she works as both, Certified Business Coach and Mediator.

Language
English

Student workload
5 ECTS (including 1-2 ECTS asynchronous self-study)

Mode
On-Campus: Monday till Friday during the day | synchronous (+ further teaching units asynchronous)

Date
November 11 – 22, 2024

Contents

Introduction to family business: definition, facts and figures, economic perspective, advantages and disadvantages, underlying theories and concepts
Ownership succession management: types of ownership, strategic planning, success factors of succession, the role of key non-family employees, managing transition, key challenges of succession process, nepotism, gender equality, generational challenges, success and failure
Family business governance: structures and agreements, family versus business strategy, family constitution, the role of advisory boards, family councils and family meetings
Internationalization and growth of family firms: growth strategies, internationalization theories (stage theory, Uppsala model, etc.), entry modes of internationalization
Coping with uncertainty and risk: definition of uncertainty and risk, VUCA, Covid-19 pandemic, global risk landscape, levels of resilience, theory of adaptive cycles,
Innovation in family firms: forms of innovation, antecedents, measurements, tradition versus innovation paradigm
Apart from in-class activities we will visit family businesses in the Tirol from different industries and gain insights into their daily business. This allows students to have a one-on-one discussion on all topics covered with family firm entrepreneurs.

Learning Goals

The course will explore the three systems of a family business, the family system, the business system and the ownership system and their interactions – functional and dysfunctional. Participants will be introduced to the basic issues of family business, and guided through the structures and procedures for successful family enterprises.

Upon completion of this elective course, students will be able to:

appreciate the characteristics and challenges of family businesses and their dynamics
understand leadership succession of family businesses and the challenges of next generation leaders
learn about governance mechanisms in family businesses
understand internationalization and growth strategies of family firms
learn coping mechanisms in case of uncertainty and risk in family firms
learn about the innovation–tradition paradigm in family firms