Transformational Student Learning
"Managing the Family Owned Business" is an elective taught in the spring semester and available to any Baylor student. The course explores the complexities of small/privately held firm management and introduces some unique challenges of mixing family and business. A variety of research-based and practitioner-tested best practices are offered. Students are exposed to numerous case studies and guest speakers.
Ultimately, each student focuses on one family owned business (ideally their own) and eventually creates a written report on recommended improvements for that business, culminating in a formal application submission to the Texas Family Business of the Year awards program. Students whose applications warrant award winning or finalist status are invited to the culminating event of the Texas Family Business of the Year awards program, the evening banquet. The banquet event and the family business forum, held that afternoon, are valuable networking and development tools for students and attendees.
We also seek a wide range of internship opportunities with family businesses. Internships are typically semester-long relationships that afford students valuable experience working in successful family business environments. Family firms may benefit from the program by using the internship program to prescreen employees, participate in family to family exchanges, have their next generation experience another family business, or to gain fresh ideas and insights from a newly minted Baylor Bear!
In the future, we will expand our undergraduate course offerings, add graduate level courses at the MBA and eMBA level, continuing education courses to benefit family business owners and advisors, and eventually offer online modules. Students will be able to earn a certificate of family business management. Entrepreneurship majors will be able to earn a family business concentration.