Entrepreneurship in Family Firms

Department

International Program

Course unit code

IFLV6543

Number of ECTS credits allocated

Name of lecturer(s)

Mag. Sexl Florian, BA MSc MBA, Ass. FH-Prof. Mag. Wieser Desiree, PhD, FH-Prof. Priv.-Doz. MMag. Dr. Zehrer Anita

Mode of delivery

face-to-face

Recommended optional program components

none

Additional information about examination modalities

Final presentations (group) 75%

Reflection paper (individual) 25%
Reflection on all classes, learnings, key findings, lessons learnt from field trips, approx. 300 words per day, word count total 1,500 words

Level of course unit

Bachelor

Year of study

Fall 2026

Semester when the course unit is delivered

Language of instruction

English

Learning outcomes of the course unit

This course provides a comprehensive understanding of the unique characteristics, challenges, and opportunities within family-owned businesses.

Course Goals

By the end of this course, students will:
1. Understand the defining features and structures of family businesses.
2. Analyze the dynamics among family, business, and ownership systems.
3. Develop strategies for effective succession planning and leadership transition.
4. Design governance mechanisms to ensure sustainability and alignment of family and business goals.
5. Assess the impact of conflicts and growth in family firms

Learning Outcomes
After successful completion, students will be able to:
1. Define key concepts and models related to family business systems.
2. Identify advantages and disadvantages of family ownership structures.
3. Evaluate succession strategies and design transition plans.
4. Formulate governance frameworks that balance family and business needs.
5. Integrate perspectives into family business conflicts and growth

Course contents

Part Anita Zehrer:
This introductory session provides an overview of the program and its learning objectives, followed by a focused look at key characteristics of family firms and how they adapt over time; we will then examine succession management practices that ensure family firm continuity and discuss governance frameworks that promote accountability, transparency, and strategic decision-making. Practical preparation for the two field trips will cover objectives, logistics, as well as pre-visit reflection activities to maximize learning and link the excursions back to classroom concepts.

Part Desiree Wieser:
This part introduces the concept of social entrepreneurship. We will explore the relevance of social entrepreneurship for family firms and the potential of family firms in this context. Students will become familiar with social innovation, hybrid business models and are able to differentiate between purpose-driven businesses and profit-driven businesses. Through an interactive learning approach, student will be guided through various practice examples and have the chance to find out more about social entrepreneurship and family firms in different countries around the world.

Part Florian Sexl:
This lecture explores the growth opportunities and internal conflicts unique to family businesses. While these firms benefit from strong values and long-term vision, they often struggle with balancing tradition and professionalization. Growth strategies such as expansion and innovation will be examined alongside common conflicts, including succession disputes and family tensions. The discussion will also cover conflict resolution methods like governance structures and professional management. By the end, students will understand the challenges and strategies for sustaining successful family firms.

Planned learning activities and teaching methods

Students will explore the interplay between family, ownership, and business systems through conceptual frameworks such as the 3-Circle Model. Emphasis will be placed on succession planning, governance structures, and the role of culture in shaping family business dynamics. Practical insights and case studies will help students develop strategic and managerial skills relevant to both family and non-family stakeholders.

Work placement(s)

none

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