MANAGEMENT
CHARACTERISTICS AND PROBLEMS IN FAMILY SME
Contents
Characteristics and problems in family SME Introduction General Objective
Characteristics of a family SME Establishment Ownership Management Human resources Size
Family and Family Business Interrelation between family and business Discrimination between family and family business Strength of a family SME Weakness of a family SME
Common problems in managing a family SME Definition of roles - Co-ordination in managing a family SME Refusal to change and training Financial management Criteria for recruiting family members Succession
The succession of a family SME The entrepreneurs of the first generation The inheritors and successors Factors for a successful succession Planning of a successful succession
Competencies of a good manager Leadership Flexibility Creativity Decision making - seizing of opportunities Self motivation Risk assessment
Effective management of a family SME Effective development of business plan Organising people and other resources Continuous adaptation to changes Controlling and supervising entrepreneurial operation Distinction between family relation and business relations
What you should avoid Transfer family problems to business area and vice versa Underestimate family members’ competencies Rely on family members without controlling them Expand rapidly and without planning
EVALUATION
ANSWERS
BIBLIOGRAPHY
