FAMILY BUSINESS MANAGEMENT & LEGAL FRAMEWORK

Syllabus

Family Business Management & Legal Framework

Course Code: MBA 2.6 

Module 1: Understanding Family Business and Its Dynamics (12 Hours)

Defining Family Business – Importance, Uniqueness & Dynamics, Family Business Structure and Challenges – Trans-generational Value Creation-Life Cycles - Culture and Value Systems – Competitive Edge and Competitive Advantage of Family Business – Strength and Weaknesses of Family business – Models of Family Business -Three circle-Agency-Systems -Stewardship- Corporation- FIG – Comparative Analysis of Models- Role of Genograms - ECI-U Model.

Module 2: Strategic Management and Governance in Family Business   (12 Hours)

Managers vs. Owners- Shareholder Priorities and Responsibilities-Family Business Strategy and Strategic Challenges - Strategic Business - The Business Rejuvenation Matrix and Intrapreneurship - Socio-Emotional Wealth of FAMILY Business - Governance Challenges - Different Spheres of Governance in Family Firms - Corporate Governance - Family Governance - Family Stakeholder Governance - Wealth Governance - Identifying Optimal and Effective Governance Mechanisms.

Modules 3: Succession Planning, Conflict Management & Future of Family Businesses

(12 Hours)

Introduction and Importance of Succession planning – Characteristics and Attributes of Next Generation Leaders - Professional Management of Family business - Conceptualizing and Implementing a Succession Plan - Responsible Leadership - CEO as an Architect of Succession and Continuity, Types of CEOs, Spouse and the Transfer of Power – Elements of Family Business Sustainability- Family Conflict, Resolution and Future of Family Businesses.

Module 4: Legal Structure and Business Laws Applicable to Family Enterprises (15 Hours)

Choosing the Right Legal Structure - Sole Proprietorship, Partnership, LLP, Private Ltd, HUF Comparison of Structures: Ownership, Liability, Tax Implications.

Business Laws Applicable to Family Enterprises - Companies Act, 2013, Partnership Act, 1932, LLP Act, 2008, Hindu Undivided Family (HUF) under the Income Tax Act, and FEMA & RBI Compliance (For family Businesses with Cross-Border Operations or NRIs)

Intellectual Property (IP) Compliance - Trademark, Copyright, and Patent Registration (Especially for Family-Owned Brands). Other Industry-Specific or State-Specific Licenses: FSSAI (for food businesses) and RERA (for real estate).   

Module 5: Governance Leadership, & Women Empowerment (10 Hours)

Introduction to Family Governance, Components of Family Governance, Importance of Governance in preserving legacy and unity.

Family Constitution/Charter: Purpose and Process, Family Council: Composition, Roles, Meeting Protocols, Family Assembly and Retreats.

Transition of Leadership, Challenges in Shared Ownership and Legal Compliance.

Role of Women in Family Businesses: Ownership, Leadership and Legal Empowerment. Legal Challenges Faced by Women in Family-Owned Enterprises and Measures to Overcome the Challenges.