SYLLABUS ENT SMALL AND FAMILY BUSINESS MANAGEMENT SECTION 1228 University of Florida

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1 SYLLABUS ENT SMALL AND FAMILY BUSINESS MANAGEMENT SECTION 1228 University of Florida Semester: Spring 2016 Course Title: ENT4934 Small and Family Business Management Website: I. Pre-requisites: Instructor: Susana Santos Office: Center for Entrepreneurship and Innovation, Bryan Hall 133 F Office Hours: T, W, Th. 2-5 pm and by appointment Phone: (352) susana.santos@warrington.ufl.edu Acceptance into the imse Program or other graduate program at the University of Florida II. Course Overview: The Small and Family Business Management is a course focused on the unique challenge of managing and growing small and family businesses. This course is based on the small business and family businesses models, being organized around the three main stages of the process: growth, maturity and harvest. The course is organized in two parts: the first five weeks are dedicated to small business and the last two weeks are dedicated to family business. This course will start by identifying the particularities of small business management. Next, we will analyze the small business management process and the business life cycle. We will focus deeply on growth, defining its particular stages, strategies, barriers, and the elements of the operating system, taking an emphasis on total quality management. The maturity stage of small business management will describe the management competencies needed, including sales force structure and the processes for recruiting, managing and retaining human resources. Lastly, we will focus also on the harvest stage of small business, describing the different options for exit and how to manage the process. We will then turn to family business, which represent close to 90% of all businesses. Here we will explore the definition of this particular type of business, taking into account its idiosyncrasies, and the complex roles and relationships involved. Managing small business and family business has many similarities but also great differences which will be analyzed in detail. III. Course Objectives for Students: Upon completion of this course, students should be able to: - Describe the characteristics and the process of small and family business; - Discuss the evolution of strategy and structure in a growing business; - Identify strategies targeting growth in small business; 1

2 - Understand why most small business start small and stay small they fail to grow; - Describe the elements of the operating system in small business and the role of quality in operations management; - Identify development and management strategies for HR in small business; - Explain the options for harvesting or closing the small business and the related importance and outcomes; - Define the complex roles and relationships involved in a family business; - Understand the differences between family and non-family firms regarding family members in the business, governance, management decisions, control, structure, and business succession strategies. IV. Textbooks and Materials: Double Digit Growth, Michael Tracy (2003) Entrepreneurial Small Business, Jerome Katz and Richard Green (2011) Cases and other readings posted on Course Website. V. Student Evaluation (see also note below regarding extra credit): The student evaluation will be composed by: Participation General course 10% Participation Case 1 * 5% Participation Case 2 * 5% Participation Case 3 * 5% Participation Case 4 * 5% Participation Case 5 * 5% Case presentation ** 15% Adopt a Small or Family Business report*** 25% Adopt a Small or Family Business video presentation**** 5% Course Exam***** 15% * Each student will be weekly evaluated by the participation on the discussion on each case, by asking questions, give contributions and inputs. ** Each student will be assigned to a team to make a case presentation. There will be five cases for assignment purposes. Each week, a team will post a PowerPoint presentation, highly detailed (it can 2

3 have an audio recording, or a video) on Monday before 12:00p.m. During that week, that team is responsible for the discussion on the case, interacting and commenting with other students. *** Each student will have an Adopt a Small or Family Business experience. The main goal of this work is to apply the course contents to an actual existing company. Through their own entrepreneurial resources and network, each student is expected to familiarize him or herself by adopting an actual existing company. The student has to prepare a report with maximum 25 pages describing the company, proposing and justifying a growth strategy for the company. To get information, the student will have to visit the company, interview the owners, visiting the site, and obtain as much information as possible about the company. This report has to be delivered to the instructor in PDF file. Failing this deadline is failing this assignment. **** The Adopt a Small or Family Business report will be presented in five minute video by each student. The video should be posted on the course site according to the calendar. Failing this deadline is failing this assignment. The following grading scale will be employed: = A; 89-92=A-; = B+; = B; = B-; = C+; = C; = C-; = D+; = D; = D-; below 59 = F. For more information on current UF grading policies for assigning grade points, students are encouraged to consult the University catalogue: VI. Teaching / Learning Style: The course is online and so will involve a mix of weekly videos, PowerPoint presentations, and assigned reading. The learning method will involve a mix of interactive lecture, class discussion, can case presentations. The emphasis will be on developing and understanding of key concepts at the small and family business management, such as its process, the growth, maturity and harvest stages, growth stages and rapid growth strategies, operations management and total quality management, recruiting and managing the human resources, the importance and methods of harvest, family business characteristics, stages of development, succession and transition planning. Students are expected to participate and to make a contribution to the discussions that occur in the course site. Contributions include asking questions, answering questions, providing examples from you own life experiences and your other courses, expressing opinions, taking positions, disagreeing with points made by the instructor or your peers, and so forth. Moreover, strong emphasis will be placed on student interaction and participation in weekly online case discussions. 3

4 VII. Academic Integrity: UF Students are bound by The Honor Code which states: We, the members of the University of Florida community, pledge to hold ourselves and our peers to the highest standards of honesty and integrity by abiding by the Honor Code. On all work submitted for credit by students at the University of Florida, the following pledge is either required or implied: On my honor, I have neither given nor received unauthorized aid in doing this assignment. The Honor Code ( ) specifies a number of behaviors that are in violation of this code and the possible sanctions. Furthermore, you are oblige to report any condition that facilitates academic misconduct to appropriate personnel. If you have any questions or concerns, please consult with the instructor. VIII. Course Evaluations: Students are expected to provide feedback on the quality of instruction in this course based on 10 criteria. These evaluations are conducted online at Evaluations are typically open during at last two or three weeks of the semester, but students will be given specific times when they are open. Summary results of these assessments are available to students at VIII. Course Schedule and Assignments: Week One Welcome to Small and Family Business Management World! (March 7 Monday- to March 13 - Sunday) Video - Introduction to the course Video 1 Introduction to Small Business Video 2 Small Business in the United Stage Video 3 Entrepreneurship and Small Business Video 4 Entrepreneurship Process Video 5 Small Business Process Reading - Chapter 1 Small Business: Its opportunities and rewards Katz & Green Chapter 3 Small business Entrepreneurs: Characteristics and Competencies - Katz & Green Chapter 20 Achieving success in the small business Katz & Green; HBR - Can small business help countries compete 4

5 Week Two The Business Life Cycle (March 14 Monday- to March 20 - Sunday) Video 6 Introduction to the Business Life Cycle Video 7 Business Life Cycle: Stage 1 Video 8 Business Life Cycle: Stage 2 Video 9 Business Life Cycle: Stage 3 Video 10 Business Life Cycle: Stage 4 Video 11 Business Life Cycle: Stage 5 Reading - HBR Five stages of growth; Chapter 20 Achieving success in the small business Katz & Green; Assignment Adopt a Small or Family Business Monitoring 1 Week Three The Growth in Small Business (March 21 Monday- to March 27- Sunday) Video 12 Business Life Cycle in the real world Video 13 Business Life Cycle: The Manager Role Video 14 Small Business Growth and Growth Strategies Video 15 Typology of Entrepreneurial Ventures Video 16 The Growth in Small Business Reading HBR Five stages of growth HBR - Why Business Models Matter; Morris et al. (2015), Distinguishing types of entrepreneurial ventures: An identity-based perspective JSBM CASE DISCUSSION 1 Innocent drinks (Group upload the case discussion March 21, 12:00pm, and students comment and discuss during this week, before March 27, 11:59 p.m.) Week Four The Five Disciplines of Growth (March 28 Monday- to April 3- Sunday) Video 17 Virtuous cycles of growth Video 18 Introduction to the Disciplines of Growth Video 19 The First Discipline of Growth Video 20 The Second Discipline of Growth Video 21 The Third Discipline of Growth Video 22 The Fourth Discipline of Growth 5

6 Video 23 The Fifth Discipline of Growth Reading - Chapter 1 Why it is so hard to grow? Chapter 4 The first discipline: Keep the growth you have already earned Treacy, Chapter 5 The second discipline: Take business from your competitors" Treacy; Chapter 6 The third discipline: Show up where growth is going to happen Treacy; Chapter 7 The fourth discipline: Invade adjacent markets" Treacy; Chapter 8 The fifth discipline: Invest in new lines of business Treacy; CASE DISCUSSION 2 MOD Pizza: A winning recipe? (Group upload the case discussion March 28, 12:00pm, and students comment and discuss during this week, before April 3, 11:59 p.m.) Assignment Adopt a Small or Family Business Monitoring 2 Week Five: Applying the Five Disciplines of Growth (April 4 Monday- to April 10- Sunday) Video 24 Summary of the Five Disciplines of Growth Video 25 Example Johnson Controls Video 26 Example Mohawk Industries Video 27 Example PayChex Video 28 Example BioMet Video 29 Example Dell Video 30 Growth Going to action Video 31 Growth Building the management portfolio CASE DISCUSSION 3 Chocolates El Rey (Group upload the case discussion April 4, 12:00pm, and students comment and discuss during this week, before April 10, 11:59 p.m.) Reading -Chapter 2 Who s achieving double-digit growth?" Treacy; Chapter 9 Manage your portfolio for Double-digit Growth Treacy; HBR Match your sales force structure to your business life cycle; Week Six: Strategy, Operations, and Human Resources in Small Businesses (April 11 Monday- to April 17- Sunday) Video 32 Strategy in the Small Business: Definition Video 33 Strategy in the Small Business: Process Video 34 Operations in the Small Business 6

7 Video 35 Total Quality Management: Definition Video 36 Total Quality Management: Process Video 37 Human Resources Management in Small Business General Model Video 38 Human Resources Management in Small Business Hiring Video 39 Human Resource Management in Small Business Training Video 40 Human Resource Management in Small Business Rewards Video 41 Human Resource Management in Small Business Entrepreneurial Leadership Reading Chapter 7 Small business strategies: Imitation with a twist - Katz & Green Chapter 16 Assets: Inventory and Operations Management - Katz & Green Chapter 19 Human Resource Management: Small Business Considerations Katz & Green CASE DISCUSSION 4 Crunch (Group upload the case discussion April 11, 12:00pm, and students comment and discuss during this week, before April 17, 11:59 p.m.) Week Seven: Family Businesses (April 18 Monday- to April 23- Sunday) Video 42 Family Business: Definition Video 43 Family Business in the US Video 44 The systems of Family Business Video 45 Succession in Family Business Reading - HBR - Transferring power in the family business; HBR The family business; HBR - Leadership lessons from great family businesses; HBR - What can you learn from family business; Paper Correlates of success in family business transitions, Morris et al., 1997, JBV Chapter 1 What distinguishes great family businesses, Miller & Breton-Miller, Managing for the long run: Lessons in competitive advantage from great family businesses CASE DISCUSSION 5 Anderson Steel Service (Group upload the case discussion April 18, 12:00pm, and students comment and discuss during this week, before April 23, 11:59 p.m.) ASSIGNMENT Adopt a Small or Family Business Deliver Report to the instructor on April 19, 11:59pm 7

8 Week Eight: Adopt a Firm Presentations and Final Assignment (April 25 Monday- to May 1- Sunday) ASSIGNMENT Adopt a Small or Family Business Presentation - Post the 5 minutes video with the presentation before April 24 (Sunday), 11:59pm Online Course Exam Posted on the Course site April 25, 10am. Should be delivered before April 27, 12pm. 8