COMMGMT 7003 - Family Business Fundamentals

North Terrace Campus - Trimester 3 - 2019

The purpose of this course is to enhance students' understanding of the characteristics, contributions, and issues unique to family businesses. Topics include the uniqueness and importance of family business, family governance, transgenerational entrepreneurship, professionalization, as well as succession and strategic planning. Key theories used in the family business field will also be introduced and applied in the course, such as systems theory, agency and stewardship theory, the resource-based view, and the socio-emotional wealth perspective. This course utilises a case study method where students are taught how to analyse, develop and deliver recommendations on real family business cases using the theoretical frameworks covered. By design, Family Business Fundamentals is a foundational course for those seeking to be a professional advisor to or leader of family businesses. The course will appeal to those who are interested in succeeding or starting their own family business, as well as those interacting with family businesses as advisors, managers, or policy-makers.

  • General Course Information
    Course Details
    Course Code COMMGMT 7003
    Course Family Business Fundamentals
    Coordinating Unit Business School
    Term Trimester 3
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: 36 hours
    Available for Study Abroad and Exchange Y
    Course Description The purpose of this course is to enhance students' understanding of the characteristics, contributions, and issues unique to family businesses. Topics include the uniqueness and importance of family business, family governance, transgenerational entrepreneurship, professionalization, as well as succession and strategic planning. Key theories used in the family business field will also be introduced and applied in the course, such as systems theory, agency and stewardship theory, the resource-based view, and the socio-emotional wealth perspective. This course utilises a case study method where students are taught how to analyse, develop and deliver recommendations on real family business cases using the theoretical frameworks covered. By design, Family Business Fundamentals is a foundational course for those seeking to be a professional advisor to or leader of family businesses. The course will appeal to those who are interested in succeeding or starting their own family business, as well as those interacting with family businesses as advisors, managers, or policy-makers.
    Course Staff

    Course Coordinator: Dr Francesco Barbera

    Dr. Francesco (Frank) Barbera
    The University of Adelaide Business School
    Nexus 10, Level 10 (room 10.24)
    francesco.barbera@adelaide.edu.au
    Ph. (08) 8313 9091

    Dr. Barbera is a Senior Lecturer at the University of Adelaide’s Entrepreneurship, Commercialisation and Innovation Centre (ECIC) and a Co-Director of FBERG. Frank received his Ph.D. in Economics from Bond University while working at the Australian Centre for Family Business. Frank’s research interests encompass a wide range of issues applied to family business, entrepreneurship, small business management, and family business education. Frank’s research has earned him multiple awards, is published in high-level journals such as the Family Business Review, Small Business Economics, and the Academy of Management Learning and Education, and is regularly presented at international conferences and workshops, such as the Family Enterprise Research Conference (FERC), International Family Enterprise Research Academy (IFERA) and STEP summits.

    Frank’s expertise in the family business field also includes being the former Director of the Family Enterprise Centre at Stetson University, designing and delivering various family business curricula in the USA and Australia, a coach for the Family Enterprise Case Competition (FECC), a Team Leader for Babson College’s Successful Transgenerational Entrepreneurship Practices (STEP) Project, and serving on the Editorial Board of the Family Business Review.
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    Family businesses make a significant contribution to the economic development of national economies around the world. According to latest statistics, most Australian small and medium-sized enterprises (SMEs) are family-controlled businesses. Further the majority of large (public and private) firms are either directly or indirectly family owned and/or controlled. Therefore it is important to have an understanding of the issues facing these firms as well as the ability to apply theory in order to make sense of these issues.

    As a consequence, on successful completion of this course students will be able to …

    1. Explain and utilize the case study method, including:

    a. Analysing case studies
    i. Active reading
    ii. Critical thinking
    iii. Problem solving
    b. Discussing case studies
    i. Forming an argument
    ii. Public speaking
    iii. How to write about case studies
    c. Writing case based essays

    2. Describe and apply family business theories and frameworks, such as:

    a. Systems theory
    b. The Resource Based View
    c. Agency theory
    d. Stewardship perspective
    e. Socio-Emotional Wealth
    f. Integrative Model of Succession

    3. Identify and analyze family business case issues:

    Students will be exposed to multiple types of family business cases so as to create a wealth of experience, knowledge and ability to recognize common issues and apply theoretical models. These issues represent common opportunieis and challeneges that family firms face, such as: 

    a. Family business governance
    b. Strategic planning
    c. Succession
    d. Entrepreneurship and business renewal

    4. Synthesize knowledge and prescribe solutions through oral presentations:

    Working in teams, students will become highly skilled in public speaking, presentations and visual aid creation. The course will focus on  presentations of analysis and recommendations consistent with both professional family business consultancy and case presentations within the academic setting.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1,2 & 3
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1,2 & 3
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    4
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1,2,3 & 4
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    3 & 4
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    4
  • Learning Resources
    Required Resources
    a) There are two primary textbook resources which are required for this course:

    1. William Ellet (2007). The Case Study Handbook: How to Read, Discuss, and Write Persuasively About Cases. (Harvard Business Press) – Free access through MyUni.

    2. Poza & Daugherty (2014). Family Business. (South-Western Cengage Learning) – Ebook available for purchase though Cengage (link posted on MyUni).

    Textbooks will be available for purchase. Alternatively you can purchase an e-book version of the text at a significantly discounted rate. The e-book version has the following features:

     Available on your laptop, smartphone, tablet or online
     Use the search function to locate key concepts

    b) Academic readings: Many of the readings for this course have been taken from academic sources. These are listed in the detailed course timetable (page 8 of the course booklet). Rather than students having to purchase these texts (or borrow and photocopy the relevant sections from the library), electronic copies of these readings are available for download from the course’s MyUni website.

    c) Case studies – in order for students to get a realistic experience in the issues facing family businesses, this course utilizes multiple case studies. These are listed in the detailed course timetable (page 8 of the course booklet booklet). Rather than students having to purchase these cases, electronic copies are available for download from the course’s MyUni website.
    Recommended Resources
    Other reading resources which students may find useful include:

    • Au, Craig, & Ramachandran (2011). Family Enterprise In The Asia Pacific (Edward Elgar Publishing).
    • Sorenson, Yu, Brigham, & Lumpkin (2013). The Landscape Of Family Business (Edward Elgar Publishing).
    • Esteban Brenes (2011). Understanding Entrepreneurial Family Businesses in Uncertain Environments (Edward Elgar Publishing).
    • Sharma, Nason, & Sieger (2013). Exploring Transgenerational Entrepreneurship (Edward Elgar Publishing).
    • Nordqvist & Zellweger (2011) Transgenerational Entrepreneurship (Edward Elgar Publishing).
    Online Learning
    Please make sure to check the course’s MyUni website regularly as this will be the main method in which I communicate to students and make additional information and resources available.
  • Learning & Teaching Activities
    Learning & Teaching Modes

    No information currently available.

    Workload

    No information currently available.

    Learning Activities Summary

    No information currently available.

  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary

    No information currently available.

    Assessment Detail

    No information currently available.

    Submission

    No information currently available.

    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

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