HEALTH ECONOMICS CULTURE Master Program Family Business Management (M.Sc.)
Learning how to manage a family business It is not just a job to lead a family business. It is almost a philosophy. An entrepreneur or manager must have specific competences and expertise in order to cope confidently with the complex combination of family, business and ownership. A solid basis in business economics is necessary, but frequently not enough. The Master program in Family Business Management (M.Sc.) at Witten/Herdecke University, the first of its kind at a German university, is an interdisciplinary approach. Students receive comprehensive training in the competences and skills required to manage a family firm, i.e. in business management, psychology/sociology and law, by renowned German and international lecturers and numerous researchers and experts in the field.
Target Group The Master program targets applicants interested in the dynamics, interactions and challenges involved in family and business in family enterprises, and in particular: RR successors and potential partners from business families who wish to prepare for an executive position, RR prospective experts and managers in family businesses who intend to assume responsibility, RR individuals who plan to work as consultants in family businesses. Participants in the Master program learn to recognize the specific opportunities and risks of this type of business, to assess their relevance and take the steps required to manage them. Successful graduates of the Master program are well prepared for the complexities and challenges involved in managing a family business. Graduation qualifies for subsequent doctoral studies.
Structure and contents The Master program Family Business Management (M.Sc.) comprises RR core subjects where students acquire a solid basis of knowledge on family businesses RR a wide range of elective subjects with seminars on various topics RR the Company Mentorship Concept with the opportunity of establishing individual contacts with family firms at an early stage RR fundamental studies as the interdisciplinary core element of UW/H which provide space for a change in perspective and out-of-the-box thinking. Students of economics, medicine and philosophy meet for joint seminars and learn to look beyond the boundaries of their chosen subject. Four semesters are the standard period of duration for this program. The structure permits, however, a shortened version of three semesters with a more compact schedule of elective courses. Students are more flexible in organizing their studies according to individual needs, and studies may be pursued while working full time.
Core subjects fundamentals of business economics :: academic methods and procedures :: governance mechanisms in family business :: system theory in family business :: regulatory framework for family firms :: seminar on current topics in family business :: fundamental studies; company mentorship scheme Elective subjects (selection) Strategy development in family firms :: family business models :: structural risks in family business :: psychology of succession :: legal aspects of succession :: assessment of family businesses :: conflicts in family firms :: crisis management, restructuring and reorganization :: bankruptcy law; asset management in family business :: regulatory framework for asset management :: corporate law in family business :: tax law in family business :: entrepreneurship in family business :: GründerWerkstatt (start-up incubator) Master thesis Doctorate (optional)
Your advantages at a glance RR RR RR RR RR RR RR RR attractive specialization in the management of family businesses small groups and excellent student-teacher ratio strong practical orientation fundamental studies offer lively interdisciplinary exchange beyond the scope of one s chosen subject personal access to family businesses via excellent network of contacts in the business community, the Company Mentorship Concept, and the WIFU (Witten Institute for Family Business) Sponsors Club exclusive career options, e.g. via the marriage market, a regular trading event for internships international network of teaching and research cooperations; partnerships with Universitá commerciale Luigi Bocconi Milan (Italy), ESADE Business School Barcelona (Spain), University of Edinburgh (Scotland), Universität St. Gallen (Switzerland), Jönköping International Business School (Sweden) and others financial and technical support for study periods abroad
Admission requirements Applicants must document a degree conveying a vocational qualification (diploma, Bachelor, state examination) and pass admission procedures. The program is open not only to applicants with an economics or related degree but also to degree holders of all disciplines.
Lecturers Integration of theory and practice Univ.-Prof. Dr. phil. Arist von Schlippe Academic Director, WIFU (Witten Institute for Family Business) Chair for Leadership and Dynamics in Family Businesses Prof. Dr. Rudolf Wimmer WIFU Co-founder Extrabudgetary Professor Dr. Tom A. Rüsen Managing Director, WIFU (Witten Institute for Family Business) Prof. Dr. Fritz B. Simon WIFU Co-founder Extrabudgetary Professor Prof. Dr. Alberto Gimeno Sandig Associate Professor, ESADE Business School, Barcelona Visiting Professor Univ.-Prof. Dr. André Schmidt Chair of Macroeconomics and International Economics
Univ.-Prof. Dr. Peter Rosa George David Chair for Entrepreneurship and Family Business, University of Edinburgh Business School Visiting Professor Dr. Christoph Harff Lecturer at the Chair for Accounting and Management Control in Family Business Active in Wealth Management at Pictet & Cie. Prof. Dr. Thomas Zellweger Assistant Professor for Entrepreneurship and Family Business Managing Director, Center for Family Business at Universität St. Gallen Prof. Dr. Dr. h.c. Brun-Hagen Hennerkes Professor at the Chair for Civil, Corporate and Tax Law in Family Businesses Partner of Hennerkes, Kirchdörfer & Lorz Prof. Rainer Kirchdörfer Lecturer at the Chair for Civil, Corporate and Tax Law in Family Businesses Partner of Hennerkes, Kirchdörfer & Lorz Dr. Rainer Kögel Lecturer at the Chair for Civil, Corporate and Tax Law in Family Businesses Partner of Hennerkes, Kirchdörfer & Lorz
The program key data Start: Scope and duration: Degree: Language(s) of instruction: Type of studies: Application: Requirements: each semester, i.e. summer and winter 120 ECTS (four semesters) or 90 ECTS (three semesters) Master of Science English and German not consecutive; full or part time all year round degree conveying a vocational qualification (diploma, Bachelor, state examination), all disciplines For more information on the Master program please contact: Dipl.-Kfm. Thilo Pukall, WIFU, phone +49/2302/926-509, thilo.pukall@uni-wh.de. For application procedures please contact: Monika de Boer, phone: +49/2302/926-548, monika.deboer@uni-wh.de
Witten/Herdecke University Expertise, value orientation, character Witten/Herdecke University is Germany s first private university and enjoys an excellent reputation. Currently 1200 students are enrolled in programs of management and economics, medicine, dental medicine, nursing science, and philosophy and culture. Apart from the Master program in Family Business Management (M.Sc.), the Faculty of Management and Economics offers Bachelor programs in Business Economics (B.A.) and Philosophy, Politics and Economics (B.A.) and another Master program in General Management (M.A.). Top rankings document excellent results in teaching and research. Student education at UW/H always has a strong commitment to practical application, value orientation and personal growth.
The Witten Institute for Family Business (WIFU) At the Faculty of Economics and Management, the Witten Institute for Family Business (WIFU) is in charge of all questions related to family firms. The institute is Germany s pioneer in the area of academic research and teaching of the specific features of family businesses. The groundwork for the consistent and forceful interdisciplinary orientation of WIFU was laid right when it was founded in 1998, with the installation of three professorships for business management, psychology/sociology, and law. This configuration of disciplines, the scientific mirror image of the very make-up of family businesses, has enabled WIFU to gather a technical expertise that is unparalleled in the field of family enterprise. With currently eight professorships, WIFU has been contributing significantly to the trans-generational sustainability of family businesses for over 12 years.
Witten/Herdecke University Faculty of Management and Economics Applications Alfred-Herrhausen-Str. 50, D-58448 Witten Phone +49/2302/926-548, Fax +49/2302/926-585 www.uni-wh.de/wmf