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CS34A0721 Entrepreneurship, ownership and family firms, 6 cr 
Code CS34A0721  Validity 01.08.2016 -
Name Entrepreneurship, ownership and family firms  Abbreviation Entrepreneurshi 
Credits6 cr   
TypeBasic studies  
  Grading scaleStudy modules 0-5,P/F 
  Eligibility for post-graduate studiesno
    Allowed to study several timesno
Organisation LUT School of Engineering Science 

Timo Pihkala 
Marita Rautiainen 

Description by Study Guide
Year  M.Sc. (Tech.) 1 
Teaching Language  English 
Teacher(s) in Charge 

Professor, D.Sc. (Econ. & Bus. Adm.) Timo Pihkala
D.Sc. (Econ. & Bus. Adm.) Marita Rautiainen


The courseintroduces the student with the phenomenon of entrepreneurship, ownership, andfamily firm. The course aims to enhance students' understanding of thecharacteristics, contributions, and issues surrounding family business. Throughcase studies, student research and guest speakers, we consider questions ofownership, succession, conflict resolution, sibling rivalry, compensation,attracting and retaining both family and nonfamily talent, estate planning, andfinancing the family owned enterprise. After the course, students should beable to define and understand the conceptual special characteristics and thecentral theories of these phenomena. In addition, students learn to applydifferent theories in the analysis of practical cases as well as aboutways to manage the transitional processes such as family business succession. Itcombines rigorous learning with practical group works. The course willappeal to those who are interested in starting up their own business, as wellas those interacting with small firms and family businesses as advisors,managers and policy-makers.   


Course explores the unique challenges and opportunities involved in managing a family firm. The course will address a wide variety of topics, including: the strengths and weaknesses of a family firm, the dynamics of family interactions, family business culture, conflict resolution in a family firm, transferring ownership of a family firm, planning for a family firm's growth and continuity, effective leadership and communication, and planning for succession.

Teaching Methods 

Lectures 20 h 3rd period. Prior reading and assignments 106 h. Preparation for lectures 30 h. In total 156 h.

Examination in Examination schedule (Yes/No)  No 
Examination in Moodle (Yes/No)  Yes 
Examination in Exam (Yes/No)  No 
Assessment scale and assessment methods 

Individual exercise 50 %, group exercise 30 % moodle exam 20 %

Course Materials 

1.Ernesto J. Poza (2010). Family Business, South-Western, Cengage Learning.
2.Materials indicated during lectures
3.Cases and articles delivered during the course.

Limitation for students? (Yes, number, priorities/Leave empty)  Yes, maximum 80. Priority is given to the student in Entrepreneurship masters program and students of entrepreneurship minor. 
Places for exchange-students? (Yes, number/No)  15– 
Places for Open University Students?(Yes, number/No)  15– 

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