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1. Overview – The major written project in MG 3353 Family Business Management will involve each student in analyzing and assessing an existing family business and comparing the practical information with research material.
The major written project in MG 3353 L6 will challenge each student in identifying, analyzing and assessing the importance of family business in the economic environment and evaluating the several people and processes involved.
Learning Outcomes — Successful completion of this project will contribute to the student’s proficiency in the following learning outcomes:
1. Demonstrate a strong working knowledge of the special characteristics of family-managed businesses and apply effectively models of family business growth, aging and development.
2. Identify, assess and create strategies and policies for the successful management of family businesses.
3. Discuss and assess appropriate techniques for the introduction and integration of family members and non-family executives into the business.
4. Apply, integrate and assess succession and power transfer models.
5. Demonstrate a working knowledge of how family relationships interact with business activities.
6. Assess the value of a family business and assess the role of family firms in economic development in a range of diverse contexts.
. Content – In your analysis you are expected to analyze thoroughly a Family Business, preferably one you are familiar with, in terms of the following indicative aspects, and compare your case analysis with research material:
Part I: The Venture and the Entrepreneur
History of the Business
The Founder: The Founder’s Traits, background, behavior.
Today’s Entrepreneur and his/her traits.
Part II: Managing Conflict in the Family Business
Sources of conflict and conflict resolution.
Part III: Succession in the Family Business
The decision and resistance to let go; planning for succession; managing the transition; the next/current generation.
Managing the transition (family infighting, management of change).
Part IV: Going Outside the Family
Culture of the family business.
Introducing professional management, problems and solutions.
The decision to go public and the transition process.
Part V: Strategic Management in the Family Business
Creating a strategy; planning the estate.
Financial considerations.
Key Non-family management: Managing the business successfully.
Family communication.
Change, adaptation and innovation: the future of family business.
Part VI: If you are to take over the business now what would you do?
Evaluate the conflict, the succession plan, the strategic choices and the management of the previous generation(s) from the successor’s point of view.
Critique the previous generation, evaluate yourself and formulate your choices: How do you expect to finance the business? How do you expect to make the business grow and/or change?
Evaluate the above elements using research material.
Conclusion
References
Throughout the paper identify the theoretical elements and compare your analysis with theory. Use references.
4. Format – Each student will prepare the major written project using the following required format:
• Title page – include the title of the project, the student’s name and DEREE identification number, the course number and name (e.g., MG 3353 Al L6 Family Business Management), the project due date, and the instructor’s name
• Table of Contents – identifies the sections in the written project and the associated page number for each section; a table of contents with no page numbers is not useful
• Introduction – includes a brief statement of what you intend to accomplish in the project, and a summary of what follows in main body
• Main Body – see content requirements above; the main body should include all of those sections identified in the content described in section 3 above, if they apply to the specific organization.
• Conclusion – includes a brief statement of what you have accomplished through your discussion in the main body of the project
• References – identifies the academic sources and other published information which you have used; please refrain from using Wikipedia and other wiki sources, as generally, they are not considered to be academic sources
• Attachments – includes written material, visual aids and graphics that you choose not to place in the main text, but that is necessary for the reader
• Appendix – includes related material not deemed necessary to be in the main text
• Folder – Place the project in a folder of your choice, or staple the pages together in the upper left corner
5. Mechanics – Each student should adhere to the following technical requirements:
• Documentation: APA style; a guide is available at:
http://www.acg.edu/sites/default/files/pdfs/APA%20Basic%20Citation%20Guide.pdf
• Word length: 2500 words (plus or minus 10%); it is compulsory to report the number of words at the end of the paper
• Submission: The project must be word processed, and each student will submit the project electronically and in paper copy.
• Typing: Use letter size 12. Please double space. Leave normal space between paragraphs. Use headings and subheadings where appropriate.
6. Project Due Date – All projects are due in excellent form on a date to be announced at the beginning of class. Please follow carefully the progress of your work effort so that you will meet this deadline. No late projects will be accepted.
You are also required to submit the title of your Family Business for approval within the second week of classes.
7. Evaluation – The written project will be evaluated using the Evaluation Rubric for Major Written Project – Level 6, a copy of which is available on acgboard.
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