Study location	Netherlands, Maastricht
Type	Summer Course, full-time
Nominal duration	1 week - intensive (2 ECTS)
Study language	English
Course code	MSS0048

Tuition fee	€598 per programme

Entry qualification	Enrolled as an Undergraduate student or Undergraduate diploma The entry qualification documents are accepted in the following languages: English. Often you can get a suitable transcript from your school. If this is not the case, you will need official translations along with verified copies of the original.

Language requirements	English B2, IELTS 6.5

Other requirements	A motivation letter must be added to your application.

Overview

In this course, we will explore the multiple factors that determine the long-term success of family businesses. Businesses owned and operated by families constitute the majority of firms around the world and may be found in all industrial segment, from retail to heavy manufactures. Family-owned businesses are the backbone of many economies around the world and it is estimated that the total economic impact to global GDP is over 70%. To understand how family culture effects business and management, we will have a deeper look at the ‘Silent Power of Family Business’ – the DNA.

Together we will analyse the family business DNA, built on trust, traditions, informality and family values, to understand how these characteristics help companies identify with and support their business, becoming an anchor for employees and external relations alike. We will see that this DNA can have a positive effect on the vitality of the business but can also destroy the company. Generation changes, lack of suitable successors, different core values, family relations, confidence and trust, personal ambitions and drive can all drive a wedge in the lasting success of a family owned business.

This course will explore:
• The relationship between family values and family business.
• What makes family businesses so powerful?
• Rhineland versus Anglo-Saxon system.
• The next generation: the succession process.
• Who’s in charge?
• Entrepreneurship and innovation.
• Why would you like to work in a family business?

Course Duration and Dates
This is a one week course running from the 13th of July until the 17th of July, 2020

ECTS
The number of credits earned after successfully concluding this course is the equivalent of 2 ECTS according to Maastricht University’s guidelines. For further information see the MSS terms and conditions

Goals
• Introducing the concept of a family business, their organization and how they function
• Understand why family businesses could be successful in the long run.
• Analyze the connection between the family and the company.

Instruction language
English

Prerequisites
Interested in family business, entrepreneurship, leadership, marketing and communication and organisational science.

Recommend literature
Strategic Planning for the Family Business, by Randel Carlock and John Ward

Teaching methods
▪ Assignments ▪ Lectures ▪ Papers ▪ Presentations ▪ Research ▪ Work in subgroups ▪

Assessment methods
▪ Attendance ▪ Final paper ▪ Participation ▪ Presentation ▪

Keywords
Family Business; values; succession; next generation; entrepreneurship, power, leadership; innovation and strategy.