NRCA University | Future Executives Institute | Course descriptions |

Family business

Instructor: Amy Schuman

Year 1
Introduction

Working effectively with family members requires creative collaboration and an understanding of the unique aspects of this complex system. Although not all future executives are sons or daughters of company owners, nearly all are touched by the family-business dynamic. This session addresses a variety of topics, such as business adaptation and succession strategies.

Year 2
Career development and succession planning

Career development and succession planning is tough in any organization but can be especially challenging in a family business. We'll identify alternatives to a "sink or swim" approach to leadership development. We'll examine pressures on the senior and junior generations and learn ways to help family and nonfamily managers address the challenges of transitioning leadership from one generation to the next.

Year 3
Governance for family business complexities

Most family businesses become more complicated as they grow. Over time, the business environment becomes tougher, the ownership group becomes larger and the family becomes more complex. How do successful next-generation leaders address these multiple challenges? We'll examine systems and structures that exemplary families put in place to foster unity, communication and success across the generations.