• Prof. Dr. Bertschi-Michel Alexandra

SMEs are the backbone of the Swiss economy and more than 90 % of all SMEs in Switzerland are so called family businesses or family-owned firms. Family businesses are characterized by many particularities as they unite three usually independent systems: that of the business, that the family and that of ownership. These systems are characterized by divergent logics as for example the business is forward looking, innovation is key, relationships relay on contracts, competition is important, and the overarching goals are money and power. The family, in contrast, is rather backward looking, history and legacy are important, relationships are based on mutual trust, equality is important, and the overarching goal is love. Hence, the ownership perspective of the family-owned business has the crucial but difficult task to bring these two fundamentally different worlds of the business and the family together. In this course, we learn more about specific strategies to successfully manage this specific type of firm by looking at specific topics from the strategic management field and by adopting them into the context of family businesses characterized and strongly influenced by this diverging logic from the business and the (owning-) family. More concrete, we for example will look at topics such as innovation, succession, turnaround management, stakeholder management, market strategies, governance aspects, philanthropy, family offices, legal aspects and family dynamics.

This course aims at providing a comprehensive overview of management strategies of privately family-owned businesses. In doing so, students gain a broad understanding and knowledge of the management of privately family-owned businesses. More concretely, after this course, students have a good understanding of the following aspects of family-owned firms:

• How family-owned firms handle the paradox between tradition and innovation.
• The challenges associated with management and ownership succession, its process and different ways of solving succession issues.
• How family-owned firms measure success and what measures are important to them.
• How family-owned firms behave in a turnaround context and which strategies proved successful.
• How family-owned firms nurture their stakeholder relationships.
• How family-owned firms gain competitive advantage from being a family business.
• Which governance mechanisms are (or are not) frequently in place in family-owned firms and what are the advantages from having clear governance rules.
• How do owning families organize themselves (i.e. in a family office).
• Philanthropic engagement of owing families and family firms.

Completion of introductory studies or passing the lecture "Einführung in die Betriebswirtschaftslehre" or "Introduction à la gestion d'entreprise".

Bertschi-Michel, A., Sieger, P., Wittig, T., & Hack, A. (2023). Sacrifice, protect, and hope for the best: Family ownership, turnaround moves, and crisis survival. Entrepreneurship theory and practice, 47(4), 1132-1168.

Bertschi-Michel, A., Sieger, P., & Kammerlander, N. (2021). Succession in family-owned SMEs: the impact of advisors. Small Business Economics, 56(4), 1531-1551.

De Massis, A., Frattini, F., Kotlar, J., Petruzzelli, A. M., & Wright, M. (2016). Innovation through tradition: Lessons from innovative family businesses and directions for future research. Academy of management Perspectives, 30(1), 93-116.

Felden, B., Hack, A., & Hoon, Ch. (2019) : « Management von Familienunternehmen – Besonderheiten – Handlungsfelder – Instrumente », Springer Gabler, 2. Auflage, Wiesbaden, Germany

Le Breton–Miller, I., Miller, D., & Steier, L. P. (2004). Toward an integrative model of effective FOB succession. Entrepreneurship theory and practice, 28(4), 305-328.

Examination time: 90 minutes

Examination time: 90 minutes