Family business management

  1. What is a family business and why is it an important part of the economy?
  2. What factors do you need to consider when planning for succession inside a family business? What are some of the ways in which you can ensure success in succession planning?
  3. Discuss the systems theory as applied in family business. How would a “business first “and a “family first” business approach some of the issues that come up in managing a family business.
  4. What are the advantages and disadvantages of family business compared to non-family businesses?
  5. What do you think is the future of family business in the context of disruptive changes taking place in the society?
  6. What is governance in family business? Discuss some of the ways in which family businesses achieve governance.
  7. Discuss at least three business valuation techniques that an owner can use to sell their business to the next generation.
  8. What is estate planning in family business? How can an existing owner plan for an estate plan that optimizes the transfer of assets to the next generation?
  9. How can a family business promote strategic growth in the second and third generations? What would be the main issues that would drive and impede growth?
  10. Discuss the role of outside non family business managers can play in growth of family business. Under which circumstances should non family business managers be invited in to manage the family business?

Sample Solution