New Family Business Courses Launching Spring 2025 at WSOM
As organizations continue to recognize the vital role family businesses play in our economy, the Weatherhead School of Management (WSOM), in collaboration with the Center for Family Business, is excited to announce two upcoming courses set to debut in Spring 2025. Designed for students and professionals alike, these back-to-back classes will delve into the unique dynamics and complexities of family-run enterprises. Taking place on Mondays from 3:00 to 5:45 PM in PBL 05, the courses are a golden opportunity for anyone looking to deepen their understanding of the intricacies of family businesses.
The first course on the schedule is MGMT 320/420: Introduction to Family Businesses, running from January 13 to March 3. This class aims to distinguish family businesses from their non-family counterparts by exploring fundamental differences in philosophy, ownership structures, and succession planning. Family businesses often face unique challenges and opportunities that are absent in other corporate environments, and this course will guide students through these critical aspects. Attendees will learn how to navigate the evolving landscape of family-run enterprises with insights into effective strategies that support long-term sustainability and success.
Following this introductory course, participants can continue their learning journey with MGMT 321/421: Complexities of Family Businesses, scheduled from March 17 to April 28. This course builds on the foundational knowledge gained in the first class, diving deeper into the nuanced roles, expectations, and balancing interests of various stakeholders involved in family businesses. One of the critical topics addressed will be what aspiring employees and family members should consider before joining a family-owned operation.
The beauty of these courses lies in their accessibility—there are no prerequisites for enrollment. While they are designed to complement one another, students have the flexibility to choose either course independently. This structure accommodates not only those studying business but also individuals from various disciplines who wish to understand the inner workings of family businesses better.
A standout feature of both courses is the inclusion of guest speakers from the family business sector. This interactive component will provide real-world insights and firsthand experiences, allowing students to engage with individuals who have successfully navigated the challenges of family business dynamics.
Leading the courses is Cindy Steeb, a prominent figure in the field. As Senior Managing Director of Trust Administration Services at Clearstead and the author of “Preserving Multigenerational Wealth,” Steeb brings a wealth of expertise to the classroom. Her extensive background in family business consulting equips her with unique perspectives that students will find invaluable.
Family businesses are not just functional entities; they are often complex ecosystems of relationships, aspirations, and sometimes conflicts. According to the Family Business Institute, nearly 70% of all U.S. businesses are family-owned, significantly contributing to job creation and economic growth. However, only about one-third successfully transition to the second generation. This statistic highlights the crucial need for knowledge and education in navigating such transitions, making these courses not just relevant, but essential for current and aspiring business leaders.
In addition to the exciting curriculum, WSOM and the Center for Family Business are committed to fostering a community that supports family enterprises through collaborations and networking opportunities. Enrolling in these courses will not only provide academic growth but also open doors to connections with other like-minded individuals involved in family business ventures.
For those interested in enrolling or seeking more information, please reach out to Laura Bonnet at lxb485@case.edu. Don’t miss the chance to enhance your understanding of family businesses, a cornerstone of the economy and a key area of growth and innovation.
As we approach Spring 2025, let’s celebrate the unique challenges and triumphs of family-owned businesses by equipping ourselves with the knowledge needed to drive these enterprises forward. Being a part of this journey could be an incredible stepping stone towards a successful career in the robust world of family business management.
