Summary
Learn the dynamics of family businesses so you can apply the skills and tools that comprise leading and managing a successful family business. Family businesses face the same challenges as other businesses, but there are some specifics that need to be considered and taken into account in decision-making processes. Learn how to deal with these dynamics, learn new methods and tools to help you leverage the intrinsic strengths of the family business and create a foundation for its long-term success.
To ensure that the family business has reach and, most importantly, success, and the business sustains itself over time, the course will give you the opportunity to understand the complexity of family and business dynamics, reflect on the roles and mindsets of the family business manager, and conduct a business diagnostic in this specific area.
All of this is to give you an understanding of the tools and components involved in running and organizing a family business: the future vision of the business family, the development of the next generation and the formation of an effective and flexible family and business governance, and above all, the succession that is crucial to sustaining a family business.
Key benefits
When you run a family business, you have to learn to deal with many specific and inherent problems. The course addresses these aspects and also looks at how society and future trends could affect you and your business. We will explore opportunities and trends to own, manage and run your family business to ensure multi-generational success.
In a safe and confidential environment, you will expand your knowledge of successful family businesses and better understand and manage the specific challenges and critical issues in your own family business. Together we will explore key issues facing all family businesses such as growth, management, conflict resolution, succession and strategy. If you can incorporate these key elements in your business into your family business strategy, you will be well on your way to managing it successfully and will be able to get the most out of your business.
After completing this course you will be able to:
- Navigate the specific challenges and critical issues of family business
- Examine key issues facing family businesses such as conflict resolution, succession and corporate culture
- Apply best practices that have been applied within the world's most successful family businesses
- Solve unique problems related to the administration and management of a family business
Basic information:
- 8 weeks
- English
- On-line
- € 700
- Anytime
Testimonial
For whom the course is suitable
This course is best suited for the new generation of family business owners, start-up founders and aspiring entrepreneurs. This is because the course offers individuals the opportunity to expand and refine their knowledge about strengthening an existing business or even starting a new business.
What you will learn in the course
The senior manager/director plays a key role in the effective management of family businesses. This course therefore looks in detail at the issues involved in managing a family business, such as managing strategic, fiduciary and communication functions. Through interactive lectures, case studies, and discussions with experienced family and independent directors, you will gain a set of skills for effective management that consist of aligning the work of individual employees with the values and long-term growth of family businesses.
Explore the specialized knowledge and skills that are unique to effectively managing a complex family business. In a collaborative and supportive environment, along with representatives from other entrepreneurial families facing similar challenges, you and your family owners, board members and executives can work together to solve complex continuity and management issues. Under the guidance of a faculty of family business practice experts, experienced advisors, and executives from top family businesses, you will learn to distinguish the roles and responsibilities of owners, family members (whether or not they are involved in management), independent board members, and executives. You will also see how a shared vision can unite family owners in a long-term commitment to continuity.
How to align the goals of a family office with those of its clients and stakeholders? How can your firm develop and foster client trust in the family firm? What is the best approach to having challenging conversations with stakeholders within the firm around wealth management, governance and education? Challenging, often subtle family dynamics, sensitive communications and interdependent governance structures all contribute to the complexity of family companies. This program focuses specifically on the management, planning and governance skills that family office leaders must master and manage.
This course is designed not only for family business owners, but also for future successors - young people considering self-employment in the family business. Sustaining family businesses and motivating families to start businesses or trades should be one of the core values on which family businesses should be built. This course therefore targets the whole range of issues involved, the different processes and approaches that need to be applied within the family business to make the succession process as easy as possible for the individual members of the family business.
The challenges and opportunities facing family businesses are primarily a result of the challenges posed by the interaction of family, management and ownership - particularly where the family wishes to continue its influence and/or control from one generation to the next. In this course, we will look at the tools, methods and principles to best manage these processes.
Executive course tuition fee
If you are ready to take your career and personal life up a notch and want to get an education with an innovative and practical approach, don’t hesitate to apply!
Course tuition: € 700
Payment can be made in one lump sum or spread over up to 3 interest-free instalments. A first instalment of € 400 is always required before starting your studies.
Tuition fees include all study materials and access to all seminars or online lectures organised by the European Institute of Finance & Management.
About the certificate
Upon successful completion of the course, you will receive a certificate of completion from the European Institute of Finance & Management, which will be valuable evidence that you have acquired better skills, knowledge and abilities regarding family business and all the specifics associated with it. This course is accredited by the International Association of Family Businesses, which provides training courses in family business.
Throughout the course you will be continuously assessed in relation to the completion of several practical assignments. These assignments are always completed online and successful completion is a requirement to complete the entire course. Therefore, in order to be issued with a certificate of successful completion, you must complete all the assignments given to you as part of your studies. These assignments vary from course to course and are based on the difficulty of the course and the requirements of the course sponsors or lecturers.
The certificate will be issued in your legal name and will be sent to you on successful completion of the programme as per the requirements set out to the address you have provided on your course application form. The certificate has unlimited validity and can be used throughout your career.
