College of Business Administration Course Syllabus Semester: ………….. Course No: BBEM 301 Course Title: Family Business: the Next Generation Prerequisites: 63 CH, BMNG 200 (MOB) Faculty Member: ………………………..; Contact Details: Email: …………………….; Phone: ……………………… Class Hours: Time: ………… Days: ……… Room: ……. Office Hours: Time: …….. Days: …….. Room: …… Brief Course Description: (As in UD Catalog) This course focuses on family business dynamics, conflicts, & preparing to take charge. The coverage includes: Analyzing Non- family members of management; Second and third generation issues; Family business governance (the use of boards and family meetings); and Succession planning Course Objectives (CO) with linkage to (CLO): Upon completion of this course, students should be able to: 1. Explain family business dynamics and conflicts; preparing to take charge in UAE/GCC context (CLO 1, 2) 2. Analyze non-family members of management; second and third generation issues; family business governance (the use of boards and family meetings); and succession planning. (CLO 3, 4, 5) This course assesses the following BBA Program Objectives (PO): 6. Synthesize information from the functional areas and apply business theory to practical decision - making situations. This is assessed through individual project This course assesses the following BBA Skill Areas: Critical thinking (Reflective thinking) skills. Analyzing, problem solving, generalizing, questioning, managing uncertainty. This course assesses the following EM program concentration objectives (EM PCO): At the end of this program, students should be able to: EM PCO Objectives* Linked to BBA PO 1 Demonstrate entrepreneur skills to start small & medium sized businesses 6 2 Develop business plan 6 3 Implement and evaluate business plan 6 4 Manage venture growth and transition 6 *These are assessed through course embedded questions in the Final exam. Course Learning Outcomes (CLO) Upon completion of this course, students should be able to demonstrate the following outcomes (with linkage to CO): 1. Explore the strategic, operating, financial, family, and career issues found in family-owned and managed companies or privately-held firms in UAE/GCC context. 2. Determine tools to be successful, whether as part of a family business, work for one, or want to be a consultant to a family business in UAE/GCC context. 3. Analyze family businesses that survive the second generation in UAE/GCC context. 4. Synthesize factors for successful family businesses in UAE/GCC context. 5. Evaluate failed family businesses in various economies (The following levels of Bloom’s taxonomy have been used while developing the CLO) Bloom’s 1. Knowledge 2. Comprehension 3. Application 4. Analysis 5. Synthesis 6. Evaluation level (K) (C) (App) (An) (S) (E) CLO # 1 1 2 3 4&5 CLO Mapping & Assessment Scheme CLO Linked Linked Linke Class Work (marks) Mid-term Final to CO to PCO d to Assignment Group Exam Exam PO Project (marks) (marks ) 1 1 1 6 10 5 4 2 1 1,2 6 10 5 4 3 2 2,3 6 15 10 4 4 2 3,4 6 10 4 5 2 4 6 15 4 Total 30 30 20 20 Teaching Methods: Interactive case studies related to the UAE and GCC; Lectures, Interactive presentations Use of Modern Instructional Technology: Moodle Learning System, PC EXCEL, Practice through student workbook Weekly/Daily Teaching Plan Day/ Day/ Lecture Ch Chapter Objectives Relation Assignment Assessment Week Wee to CLO Reading k of materials 1 Course Introduction 1 Family issues, competition, and norms 1 Reading Ch. The first rule of a family business 1 2 Dynamics of Family Business 2 Discussion on family business Assignment 1 Reading Ch. backgrounds and experiences 1 2 The 3-circle model 3 Dynamics of Family Business 3 Family business systems and development Reading Ch. issues in the UAE 2 3 4 Case study - Worksheet for the R1-R3 What are the traits of a successful Assignment 2 3-circle model entrepreneur? *Give a brief overview of the case; How did this situation develop? What 2 Read R 1- R3 are the family dynamics? What would you do differently? 5 II and III Generation Issues – 5,6 Pros and cons of sibling relationships; Family work relationships Dealing with nepotism and non-performing family members ; Power and control 3 Ch. 5 between different generations ; Next generation leadership - cousin consortium relations 6 II and III Generation Issues – 5,6 Developing procedures in family business Family work relationships environment **Assessing family work relations 3 Ch. 6 Negotiating with the family - reducing conflicts Performance evaluation of family members Group 7 Case Discussion: Case What issues do Sam Steinberg and his Assignment 3 1. Sam Steinberg A & B; 1,2 family faces at the end of the case? 2. Class Discussion: George What could Sam do to improve the Barker company and the family at this point? 3 Discuss case How would you deal with the unsatisfactory performance of a sibling? Can the family issues be resolved? 8 Non Family Management – 7 **Selecting and evaluating the non-family Successful Family Business CEO; Mid-term Dealing with nepotism and non-performing 3 exam family members; The role of the board in monitoring the CEO 1-3 MIDTERM EXAMINATION 9 Non Family Management – 8 The common factors that lead to success; Successful Family Business Leadership roles and support characteristics; 4 Read Ch. 7,8 Traits of successful family businesses and good business practices in the UAE 10 Stevenson Industries How do you resolve the issues How would you evaluate the situation and R4-R6 the nonfamily management? Assignment 4 Discuss case Class Discussion: Prime What is the best strategic direction for the R4-R6 4 Designs company? Project on *What are the implications for the Ch. 7-9 Class Discussion: The Raiser business, family, and the role tradition Organization should play? 11 Governance and Shareholders 9 Corporate family boards 4 Read Ch. 9 relations Rights, roles, and responsibilities of shareholders Family meetings, family councils, and board meetings in the UAE 12 Managing Successions, 7-9 **When is it time to retire or not Evaluating the Business Planning for retirement; Career stages of the owner and next generation successor - creating a 5 Read Ch. 7-9 timetable; Review the Family Business Due Diligence process 13 Case discussion - Veltvest **Will you be able to give up control? What would you do as Zachary Cohen at Class Discussion: Atherton the end of the case? Clothing Company How would you approach your 5 Discuss case father/grandfather? Class Discussion: Consolidated What if he is not interested in retiring? C.G.& O. What can be done? If this is not resolved, how will it end up? 14 Building the next Generation 9 Selling or keeping a family business Group Selling a Family Business A The career in a family business Assignment 5 Career in Family Business Building trust and credibility 5 Read R7-R9 Developing business skills *Career planning for family members 15 Important Lessons from the 9 The successful characteristics of a family 5 course business Continuous learning and education The next generation leadership + Group Presentation 3,5 Final Exams Educational Resources Educational Resources Description Text Book Perpetuating the Family Business by John Ward, 2007 Reference book Effective Succession Planning by William Rothwell, 2001 Required Reading R1:Family Business: The Guide for Building and Managing Family Businesses http://www.familybusinessmagazine.com/ R2: Siblings and Succession in the Family Business, 98108 HBR R3:Conflicts That Plague Family Businesses, HBR 71206 R4:The Outstanding Outsider and the Fumbling Family, HBR 89511 R5:Governing the Family-Owned Enterprise, HBR 98107 R6:Transferring Power in the Family Business, HBR 76401 (Related to UAE) R7: Documents from Mohamed Bin Rashid Establishment for young Business leaders , www.sme.ae R8: Experiences from City Group Women Entrepreneurship program, University of Dubai since 2004 – current, CBA records. R9: DCCI report on SMS in Dubai, Data Management & Research Department, www.dubaichamber.com Supporting Reading Succeeding Generations by Ivan Lansberg, 1999 The Family Business by Russell Alfred, 1997 The Successful Family Business by Scott Friedman, 1998 Working with Family Businesses by Dennis Jaffe, Sam Lane, Leslie Dashew, and Quentin Heisler, 1995 Wars of Succession by Roger Fritz, 1997 The Family Business by Roger Alfred and Russell Alfred, 1997 Family Business, Risky Business by David Bork, 1993 Keeping the Family Business Healthy by John Ward, 1997 Preserving the Legacy by Bachmeyer and Snyder, 1998 Keeping the Family Baggage Out of the Family Business by Quentin Fleming, 1999 Wars of Succession by Roger Fritz, 1997 Attendance Policy 1. Students who are late for 10-20 minutes will be marked “Late attendance” in the SIS. Four such late attendances are counted as one full absence for 3-hour class session towards computing Warnings for absence. 2. Students who are late for more than 20 minutes will be allowed to sit for the class but will be marked as absent in the attendance record. 3. Absenteeism percentages are calculated according to the table below: No. of Absences Duration of Lecture 10% 20% 25% (Deprived) 1 hour 20 minutes 3 Absences 6 Absences 7 Absences Missing Exam Policy 1. Failing to attend Quiz: A student who misses a quiz will not be allowed for any make-up quiz. 2. Failing to attend Midterm and Final Exam. 3. Excuses should be reported to the Admission & Registration Department within seven days of the last day of excuse. 4. All medical excuses should be stamped by the Ministry of Health. 5. All midterm make-up exams will be held only once during the 13th week of the Fall &Spring Semesters and on the 13th day of the winter, Summer & II Semesters. 6. All final make-up examinations (for I grade in the previous semester) will be held 2 0r 3 days before the start of the next semester. 7. 80% of the exam marks (either mid-term or final) will be granted for such make-up exams. 8. If the student does not attend the midterm or final make-up exam on the specified date, he/she will be deprived from any further make- up exams even if he/she provides again an acceptable excuse. Class Conduct Policy 1. UD is an accredited university of international standard. You must behave as a University student and not a high school student. 2. Students should understand course learning objectives stated in the course syllabus on day 1 of the course as to what it means, why it is important, how they are assessed etc., so that they know the value of the course they are taking. 3. Instructors encourage students’ questions. Please do not feel shy asking questions. 4. Students cannot leave the class during lecture time. 5. Class disturbance: i. Mobile phones must be switched off during class. Students using their mobile phones will be considered misbehavior for that class. ii. Students found whispering or talking during lectures will be asked to leave the class and will be considered as misbehavior for that class. iii. Markings under misbehavior (from item i to ii) will be tracked by the SIS and deducts 1% mark for each occurrence. if the number of incidences reaches 3, such students are treated as “F” in the course and will be referred to the Student Affairs for investigation. 6. Students with no book in the class from 2nd week are marked in the SIS and loose 1% from the total course grade for each occasion. 7. Students are expected to use a variety of references in their assignments (books, on-line sources, journals…). 8. Students are required to do some further readings prior to coming to class. 9. No handouts of any kind are given. Students must learn from textbook and journal articles. 10. Late submission of assignments will be penalized by 10% a day. No assignments are accepted by the instructor during the final examination period. 11. In case of absence, you are responsible for course covered in the missed class. 12. Keep copies of your assignments for your own record. 13. UD cheating policy and absenteeism policies will be strictly enforced. 14. Students should take more challenging responsibilities in learning. 15. Students should demand feedback on their assignments, quizzes, class work, and exams from their instructors. They should know their performance status well before final examination. 16. When you are not satisfied with the course grade, you can request the registration department for review of your final exam script only. Earlier course work is not reviewed. 17. Medical condition is not considered a reason for being absent from the class. 18. No phones will be allowed during the mid-term and final exams. Be sure you carry a calculator and/or a watch if you have a need for either one of them. Academic dishonesty is not limited to simply cheating on an exam or assignment. It also includes the following: ⇒ Facilitating acts of academic dishonesty to others, ⇒ Submitting someone-else work or work previously used in other courses, without informing the instructor, ⇒ Receiving outside assistance without instructor’s permission. ⇒ Including ideas from external sources (such as on the web or in the library) without proper referencing. ⇒ Providing assistance to students during exam.
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