115-4601/01 – Management of Family Business (MRP)

1. Establish a family business in the form of a natural person and in the form of an LLC, fulfilling their obligations to the institutions. 2. Evaluate the requirements of an effective and responsible family business owner, to ensure the financing of the business. 3. Generalize the family business institution and policy-making process. 4. Set up a family meeting, family assembly, call a general meeting. 5. Analyse the barriers to a successful succession process.

The subject emphasizes the exceptional position of family businesses that are largely involved in GDP and employment. The issue of this type of business is wider and more complex than non-family businesses. The aim of the subject is to combine and supplement the knowledge from other economic and managerial subjects to create a comprehensive overview of the activities of the manager and the owner of the family business with a focus on its specifics. The student will be able to orientate in their requirements in the areas of business start-up, the course of business, can consider the most suitable way of terminating entrepreneurial activity. It emphasizes the position of the family business and the related issues of the role and responsibilities of the owners, the family management model, incl. rules and documents, involvement of non-family members in management, preparation of a successful transfer of an enterprise to the next generation, balancing the family and enterprise interconnection, managing the family business of natural persons and legal entities from an administrative point of view, in terms of establishment, financing and planning from the point of view of the business / family.

FRANCO, Paul. Success with Succession: How to Sell Your Asset Management and Financial Advice Practice. Austin, TX: ‎ Lioncrest, 2024. ISBN 978-1544545028. MITCHELL – BLITCH, Melissa. In the Company of Family: How to Thrive When Business Is Personal. Charleston, CA: Eredita Consulting. 2020. ISBN 978-0578761459. ROTHWELL, William. Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within. 4th ed. New York: AMACOM, 2023. ISBN 978-1400232420.

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