Family Business and Entrepreneurship
Professors: Simmers (Chair)
Associate Professors: Robson
- Develop an understanding of the fundamental processes of entrepreneurship and new venture creation including: the development of innovative thinking, opportunity recognition, and the skills for successfully building a new venture team.
- Develop an understanding of the financial, legal, and market issues surrounding the successful development of a new venture.
- Develop an understanding of the unique interpersonal and business issues associated with a family-owned and managed firm including: the competitive strengths and weaknesses of a family firm, the dynamics of family interactions and the family business culture, conflict resolutions, estate planning, and planning for succession.
Substantial research suggests entrepreneurial and family ventures are major contributors to economic and employment growth
and represent nearly 50 percent of U.S. gross domestic product. Entrepreneurial and family ventures face many hurdles in achieving success and long-term growth. The major in Family Business and Entrepreneurship is designed to provide students with the tools, theory, and practical knowledge required to launch new ventures and function within a family business environment. Students may also minor in Family Business and Entrepreneurship in support of other academic pursuits. The minor is appropriate for both Haub School of Business and Arts and Science majors alike.