Intergenerational Transfer of Family Business (5cr)

Objective

The student understands the succession and the nature of family business, especially in the context of continuation of business. He /she understands the differences in decision making between family run businesses and other business organizations. After the course the student is independently capable of analyzing dilemmas related to continuation of family business, of planning succession process from his / her point of view and of taking part in the realization of succession.

Content

Nature of family businesses and decision-making
Succession processes
Succession planning
Three circle model

Qualifications

Basics of business functions and entrepreneurship

Assessment criteria, satisfactory (1)

5 (excellent) The student understands and is critically capable of analyzing and applying family business and succession theories, main concepts and methods in large extent.
The student if capable of integrating / linking different kind of theories, concepts and methods to each other / knowledge to each other.
He / She is capable to apply theories in the family business area.
He / She shows excellence in applying theory into practice and he / she shows innovative and creative approach to family business issues.
The student is capable to manage complex and professional family business tasks and projects and to solve problems in these questions.
He / she is capable to work independently in succession and continuation issues of family business, and capable of independent decision making and acting innovatively in not predictable business environment.
The student carries responsibility of the fact that other students and group are also developing.
4 (very good) The student understands and is capable of analyzing and applying family business and succession theories, main concepts and methods in large extent.
The student if capable of integrating / linking different kind of theories, concepts and methods to each other / knowledge to each other.
He / She is capable to apply theories in family business area.
He / She shows the ability in applying theory into practice. The student is capable of working independently what comes to succession and continuation questions of family business.
The student shows ability to solve dilemmas in family business field.
The student co-operates actively and he / she is committed to studies / work and its outcomes.
The student shows self-critics; he / she is capable of versatile self-assessment and shows ability to develop oneself.
3 (good) The student understands comprehensively basic concepts, theories and methods of succession and continuation of family business.
The student if capable of integrating / linking different kind of theories, concepts and methods to each other / knowledge to each other.
The student is able to utilize knowledge and skills that are required in order to work independently.
The student is able to solve problems related to succession and continuation of family business.
The student co-operates rather actively and he / she is rather committed to studies / work and its outcomes.
The student is capable of assessing oneself realistically.
2 (satisfactory) The student can define partly basic concepts, theories and methods of succession and continuation of family business.
The student has the basic practise skills that he / she is capable of managing in familiar and easy business situations.
The student does not co-operate and interact in group in an active way.
He / She has some weaknesses in self-assessment.
1 (sufficient) The student can define partly basic concepts and/or methods of succession and continuation of family business.
The student has weak work skills in succession and continuation of family business. Therefore he / she needs guidance at his / her work.
The student co-operates and interacts poorly in the group.
He / She is not capable of self-assessment in a realistic way.