| 授業名 | Entrepreneurship & Family Business |
|---|---|
| Course Title | Entrepreneurship & Family Business |
| 担当教員 Instructor Name | 横山 研治（Kenji Yokoyama） |
| コード Couse Code | GLP252_G24N |
| 授業形態 Class Type | 講義 Regular course |
| 授業形式 Class Format | On Campus |
| 単位 Credits | 2 |
| 言語 Language | EN |
| 科目区分 Course Category | 応用科目200系 / Applied |
| 学位 Degree | MSc in Management |
| 開講情報 Terms / Location | 2024 GSM Nagoya Fall |
授業の概要 Course Overview
Misson Statementとの関係性 / Connection to our Mission Statement
This course, Entrepreneurship and Family Business, is where students learn what is necessary to be an ethical and innovative leader. This is cuncurrent with NUCB's mission.
The family business that can be defined as the business being possessed and operated by families has supported not only Japan’s economy but other economies. Family businesses are facing serious problems in the midst of population decrease and market maturity right now. Family businesses are particularly famous for its longevity. Most of longer lasting businesses than 100 years are family owned and managed. They are abundant of secrets and wisdom they have acquired through long history of management. We shouldn’t waste the secrets and wisdom, which are especially important to people who are thinking of establishing enterprises. This course provides models and theories for understanding on what the family business is all about. The course also gives the students lots of opportunities to learn wisdom and secrets for operating businesses.
Students are expected to reach the stages of understanding fundamental theories and models about family business and family business leaders' mindset and ethical behavior.
The family business that can be defined as the business being possessed and operated by families has supported not only Japan’s economy but other economies. Family businesses are facing serious problems in the midst of population decrease and market maturity right now. Family businesses are particularly famous for its longevity. Most of longer lasting businesses than 100 years are family owned and managed. They are abundant of secrets and wisdom they have acquired through long history of management. We shouldn’t waste the secrets and wisdom, which are especially important to people who are thinking of establishing enterprises. This course provides models and theories for understanding on what the family business is all about. The course also gives the students lots of opportunities to learn wisdom and secrets for operating businesses.
Students are expected to reach the stages of understanding fundamental theories and models about family business and family business leaders' mindset and ethical behavior.
授業の目的（意義） / Importance of this course
The importance to learn family business is as follows:
There is a big difference in the speed of management between a family business and a general company.
In a general company, the company is owned by the shareholders, and it is not possible to run a business that risks running counter to the interests of the shareholders. However, in a family business, the owner and his family own the company in the first place, so there is little chance of objections. Therefore, even if a management policy poses a great risk to the company, management can be carried out with a sense of speed without worrying about the opinions of shareholders.
You can unify the company with the intention and philosophy of the manager. In a family business, the manager and his family are at the top of the company, so it is a big advantage that it is easier to unify the manager's intentions and philosophies in management compared to general companies. Therefore, if the manager is an excellent person, it will be possible to maintain stable management by unifying the will and philosophy of the company. It can be said that it is a great merit that you can do long-term transactions and relationships with existing customers because you can work with a fixed corporate intention and philosophy.
High possibility of long-term stable management. In general companies, shareholders often make various demands to the management team when the business becomes even slightly unsuccessful. It may be possible to generate profits in the short term if management policies are changed inconsistently according to the opinions of shareholders, but it can be said that it is difficult to conduct long-term management looking ahead 10 years from now. increase.
On the other hand, in the case of a family business, since the management has control in the first place, there is no need to change the management policy due to short-term profit and loss. From a long-term perspective, it is possible to proceed with the business, and it can be said that there is a higher possibility than that of a general company that it can be managed stably over the long term instead of taking ad-hoc measures.
There is a big difference in the speed of management between a family business and a general company.
In a general company, the company is owned by the shareholders, and it is not possible to run a business that risks running counter to the interests of the shareholders. However, in a family business, the owner and his family own the company in the first place, so there is little chance of objections. Therefore, even if a management policy poses a great risk to the company, management can be carried out with a sense of speed without worrying about the opinions of shareholders.
You can unify the company with the intention and philosophy of the manager. In a family business, the manager and his family are at the top of the company, so it is a big advantage that it is easier to unify the manager's intentions and philosophies in management compared to general companies. Therefore, if the manager is an excellent person, it will be possible to maintain stable management by unifying the will and philosophy of the company. It can be said that it is a great merit that you can do long-term transactions and relationships with existing customers because you can work with a fixed corporate intention and philosophy.
High possibility of long-term stable management. In general companies, shareholders often make various demands to the management team when the business becomes even slightly unsuccessful. It may be possible to generate profits in the short term if management policies are changed inconsistently according to the opinions of shareholders, but it can be said that it is difficult to conduct long-term management looking ahead 10 years from now. increase.
On the other hand, in the case of a family business, since the management has control in the first place, there is no need to change the management policy due to short-term profit and loss. From a long-term perspective, it is possible to proceed with the business, and it can be said that there is a higher possibility than that of a general company that it can be managed stably over the long term instead of taking ad-hoc measures.
到達目標 / Achievement Goal
The first one is understanding the role and position of Japanese SMEs in the economy and industry, the characteristics and issues of corporate management, and be able to specifically describe the roles played by SMEs and examples of excellent management.
The second one is understanding the challenges and positive roles of SMEs in the regional economy and specific industries, and be able to explain SME policies, regional revitalization measures, and industry development policies.
Understand the characteristics of the management of venture companies, the economic and social environment that is essential for creation and development, and be able to explain the process of entrepreneurship and measures to create and foster venture companies.
The second one is understanding the challenges and positive roles of SMEs in the regional economy and specific industries, and be able to explain SME policies, regional revitalization measures, and industry development policies.
Understand the characteristics of the management of venture companies, the economic and social environment that is essential for creation and development, and be able to explain the process of entrepreneurship and measures to create and foster venture companies.
本授業の該当ラーニングゴール Learning Goals
*本学の教育ミッションを具現化する形で設定されています。
LG3 Ethical Decision Making
LG4 Effective Communication
LG5 Executive Leadership (EMBA)
LG6 Innovative Leadership (MBA)
LG4 Effective Communication
LG5 Executive Leadership (EMBA)
LG6 Innovative Leadership (MBA)
受講後得られる具体的スキルや知識 Learning Outcomes
When the students complete this course, they are expected to attain the following learning outcomes:
1. Fundamental theories and models for understanding and analyzing family business
2. Typical issues and challenges to family business
3. Approaches, solutions and ways of thinking toward the issues and challenges
4. Flexible and clear mindset about management as the result of the above threes
1. Fundamental theories and models for understanding and analyzing family business
2. Typical issues and challenges to family business
3. Approaches, solutions and ways of thinking toward the issues and challenges
4. Flexible and clear mindset about management as the result of the above threes
SDGsとの関連性 Relevance to Sustainable Development Goals
Goal 4 質の高い教育をみんなに（Quality Education）
教育手法 Teaching Method
| 教育手法 Teaching Method | % of Course Time | |
|---|---|---|
| インプット型 Traditional | 10 % | |
| 参加者中心型 Participant-Centered Learning | ケースメソッド Case Method | 90 % |
| フィールドメソッド Field Method | 0 % | 合計 Total | 100 % |
事前学修と事後学修の内容、レポート、課題に対するフィードバック方法 Pre- and Post-Course Learning, Report, Feedback methods
The students are expected to share what you have prepared before the class in each group discussion and the class-wide discussion, through which your in-class contributions are evaluated as one of the main assessment criteria.
In addition, as said earlier, I'll be providing you with the basic hteories and models. You are supposed to sit for an exam about them. The result of the exam is another criterion for your grade. One final evaluation criterion is the final case report, which topic will be furnished later.
In addition, as said earlier, I'll be providing you with the basic hteories and models. You are supposed to sit for an exam about them. The result of the exam is another criterion for your grade. One final evaluation criterion is the final case report, which topic will be furnished later.
授業スケジュール Course Schedule
第1日（Day1）
Day4-1LG Investments LLC: A Family Business in General Transition (A)
CCJB-UVA-ENT-0123
Assignments
1. What were the factors of the company development and success?
2. Which do you think is better, distribution before death or inheritance after death? Why is that?
3. Generally speaking, even within the same family, are the relationships between parents and children, between siblings, and between grandparents and grandchildren the same or different?
4. If you were Tom or Carol, how would you respond to the question of the oldest G2?
5. If you were Tom or Carol, how would you respond to the question of the G2 sister not working for the company?
6. If you were Tom or Carol, how would you respond to the question of the younger G3?
Day4-2
LG Investments LLC: A Family Business in General Transition (B)
CCJB-UVA-ENT-0124
Assignments
1. Please Explain what the request from #1 is all about.
2. Please explain what the request from #2 is all about.
3. Please explain what the request from #3 is all about.
4. Please explain what the request from #4 is all about.
5. After receiving these letters, Tom and Carol have sought your advice to find out what have they had done wrong. How would you respond to this? Would you think Tom and Carol have done wrong?
Day4-3
LG Investments LLC: A Family Business in General Transition (C)
CCJB-UVA-ENT-0133
Assignments
1. What do you think is bothering Tom?
2. Like Sharpe said, selling the company is one option. What would you think about this idea if you were Tom?
3. There are three choices as the successor, the first son, the CFO daughter, or an outsider. Discuss each choice.
4. What does a successor need?
5. In some countries, it is customary for the first son to inherit the family business. What do you think about this?
Day4-4
LG Investments LLC: A Family Business in General Transition (D)
CCJB-UVA-ENT-0134
Assignments
1. What is the CFO bothered?
2. How should you respond to Tom if you were the CFO?
●使用するケース
Day4-1LG Investments LLC: A Family Business in General Transition (A)
CCJB-UVA-ENT-0123
Assignments
1. What were the factors of the company development and success?
2. Which do you think is better, distribution before death or inheritance after death? Why is that?
3. Generally speaking, even within the same family, are the relationships between parents and children, between siblings, and between grandparents and grandchildren the same or different?
4. If you were Tom or Carol, how would you respond to the question of the oldest G2?
5. If you were Tom or Carol, how would you respond to the question of the G2 sister not working for the company?
6. If you were Tom or Carol, how would you respond to the question of the younger G3?
Day4-2
LG Investments LLC: A Family Business in General Transition (B)
CCJB-UVA-ENT-0124
Assignments
1. Please Explain what the request from #1 is all about.
2. Please explain what the request from #2 is all about.
3. Please explain what the request from #3 is all about.
4. Please explain what the request from #4 is all about.
5. After receiving these letters, Tom and Carol have sought your advice to find out what have they had done wrong. How would you respond to this? Would you think Tom and Carol have done wrong?
Day4-3
LG Investments LLC: A Family Business in General Transition (C)
CCJB-UVA-ENT-0133
Assignments
1. What do you think is bothering Tom?
2. Like Sharpe said, selling the company is one option. What would you think about this idea if you were Tom?
3. There are three choices as the successor, the first son, the CFO daughter, or an outsider. Discuss each choice.
4. What does a successor need?
5. In some countries, it is customary for the first son to inherit the family business. What do you think about this?
Day4-4
LG Investments LLC: A Family Business in General Transition (D)
CCJB-UVA-ENT-0134
Assignments
1. What is the CFO bothered?
2. How should you respond to Tom if you were the CFO?
第2日（Day2）
Day 2-1Hedrick’s Pharmacy
CCJB-UVA-E-0422
Assignment Questions
1. What dilemma was Hedrick in?
2. If you were Hedrick, what would you do? Why would you think so?
3. In her shoes, please propose another strategic option.
Day 2-2
Toraya
CCJB-HBS-222068-02
Assignment Questions
1. Would Mitsuhiro’s endeavor to expand the product line to reach a wider customer base be in line with the well-being of the company?
2. What do you think are Toraya’s core values?
2. Would there be a risk of damaging Toraya’s image as a luxury brand?
3. Would global expansion be the right decision for the firm with a long history of offering traditional sweets to the royal family and premium customers in Japan?
Day 2-3
Juchheim: The faithful Pursuit of Flavour, Culture and Family Values
CCJB-IVE-9B14M129
Assignment Questions
1. What is the primary issue facing Juchheim?
2. What are the internal and external factors that have led to the present situation?
3. What are the constraints and opportunities surrounding the expansion and the succession of Hide?
4. Is exploring the international market Juchheim’s only alternative to maintain and increase its competitiveness in the market?
5. What are Takeshi’s options? What are the advantages and disadvantages of each action?
6. What Should Takeshi do?
●使用するケース
Day 2-1Hedrick’s Pharmacy
CCJB-UVA-E-0422
Assignment Questions
1. What dilemma was Hedrick in?
2. If you were Hedrick, what would you do? Why would you think so?
3. In her shoes, please propose another strategic option.
Day 2-2
Toraya
CCJB-HBS-222068-02
Assignment Questions
1. Would Mitsuhiro’s endeavor to expand the product line to reach a wider customer base be in line with the well-being of the company?
2. What do you think are Toraya’s core values?
2. Would there be a risk of damaging Toraya’s image as a luxury brand?
3. Would global expansion be the right decision for the firm with a long history of offering traditional sweets to the royal family and premium customers in Japan?
Day 2-3
Juchheim: The faithful Pursuit of Flavour, Culture and Family Values
CCJB-IVE-9B14M129
Assignment Questions
1. What is the primary issue facing Juchheim?
2. What are the internal and external factors that have led to the present situation?
3. What are the constraints and opportunities surrounding the expansion and the succession of Hide?
4. Is exploring the international market Juchheim’s only alternative to maintain and increase its competitiveness in the market?
5. What are Takeshi’s options? What are the advantages and disadvantages of each action?
6. What Should Takeshi do?
第3日（Day3）
Day 3-1Liu Bai: A Chinese Successor’s Dilemma
CCJB-INS-6005
Assignments
Day3-2
Anderson Steel Service, Inc.
CCJB-HBS-899011
Assignment Questions
1. What kinds of business, family and ownership issues are there in the Anderson Steel case?
2. If you were Charles Anderson, what should you do?
Day 3-3
Ezra Holdings: Succeeding in Succession
CCJB-SMU-15-0015
Assignment Questions
1. What is the significance of succession planning in the context of sound corporate governance?
2. What are the key challenges that companies face in succession planning?
3. What are the critical success factors to effective succession planning?
4. What are the key elements of the succession planning process? What are the key risks and the appropriate measures to address them?
5. How does the board of directors assess the effectiveness of the succession plan?
6. To what extent does succession planning in family-owned business differ from non-family run business？
●使用するケース
Day 3-1Liu Bai: A Chinese Successor’s Dilemma
CCJB-INS-6005
Assignments
Day3-2
Anderson Steel Service, Inc.
CCJB-HBS-899011
Assignment Questions
1. What kinds of business, family and ownership issues are there in the Anderson Steel case?
2. If you were Charles Anderson, what should you do?
Day 3-3
Ezra Holdings: Succeeding in Succession
CCJB-SMU-15-0015
Assignment Questions
1. What is the significance of succession planning in the context of sound corporate governance?
2. What are the key challenges that companies face in succession planning?
3. What are the critical success factors to effective succession planning?
4. What are the key elements of the succession planning process? What are the key risks and the appropriate measures to address them?
5. How does the board of directors assess the effectiveness of the succession plan?
6. To what extent does succession planning in family-owned business differ from non-family run business？
第4日（Day4）
Topic of the Day: Long-term Strategies and Investment09:20 -10:00 Group Discussion
10:00 - 12:50 Class Discussion, Break and Wrap Up
12:50 - 13:50 Lunch Break
13:50 - 16:40 Class Discussion, Break and Wrap Up
●使用するケース
Day4-1LG Investments LLC: A Family Business in General Transition (A)
CCJB-UVA-ENT-0123
Assignments
1. What were the factors of the company development and success?
2. Which do you think is better, distribution before death or inheritance after death? Why is that?
3. Generally speaking, even within the same family, are the relationships between parents and children, between siblings, and between grandparents and grandchildren the same or different?
4. If you were Tom or Carol, how would you respond to the question of the oldest G2?
5. If you were Tom or Carol, how would you respond to the question of the G2 sister not working for the company?
6. If you were Tom or Carol, how would you respond to the question of the younger G3?
Day4-2
LG Investments LLC: A Family Business in General Transition (B)
CCJB-UVA-ENT-0124
Assignments
1. Please Explain what the request from #1 is all about.
2. Please explain what the request from #2 is all about.
3. Please explain what the request from #3 is all about.
4. Please explain what the request from #4 is all about.
5. After receiving these letters, Tom and Carol have sought your advice to find out what have they had done wrong. How would you respond to this? Would you think Tom and Carol have done wrong?
Day4-3
LG Investments LLC: A Family Business in General Transition (C)
CCJB-UVA-ENT-0133
Assignments
1. What do you think is bothering Tom?
2. Like Sharpe said, selling the company is one option. What would you think about this idea if you were Tom?
3. There are three choices as the successor, the first son, the CFO daughter, or an outsider. Discuss each choice.
4. What does a successor need?
5. In some countries, it is customary for the first son to inherit the family business. What do you think about this?
Day4-4
LG Investments LLC: A Family Business in General Transition (D)
CCJB-UVA-ENT-0134
Assignments
1. What is the CFO bothered?
2. How should you respond to Tom if you were the CFO?
成績評価方法 Evaluation Criteria
*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
| 講師用内規準拠 Method of Assessment | Weights |
|---|---|
| コールドコール Cold Call | 0 % |
| 授業内での挙手発言 Class Contribution | 70 % |
| クラス貢献度合計 Class Contribution Total | 70 % |
| 予習レポート Preparation Report | 30 % |
| 小テスト Quizzes / Tests | 0 % |
| シミュレーション成績 Simulation | 0 % |
| ケース試験 Case Exam | 0 % |
| 最終レポート Final Report | 0 % |
| 期末試験 Final Exam | 0 % |
| 参加者による相互評価 Peer Assessment | 0 % |
| 合計 Total | 100 % |
評価の留意事項 Notes on Evaluation Criteria
教科書 Textbook
- 配布資料
参考文献・資料 Additional Readings and Resource
Craig & Justin, Leading a Family Business: Best practices for Long-term Stewardship, Praeger Pub. 2017
Jose Manuel Saiz-Alvarez ed., Entrepreneurship and Family Business Vitality, Springer, 2020
Aronoff, McClure, and Ward, Family Business Succession, Palgrave Macmillan, 2017
Carlock, When Family Businesses are Best, Palgrave Macmillan, 2010
Jose Manuel Saiz-Alvarez ed., Entrepreneurship and Family Business Vitality, Springer, 2020
Aronoff, McClure, and Ward, Family Business Succession, Palgrave Macmillan, 2017
Carlock, When Family Businesses are Best, Palgrave Macmillan, 2010
授業調査に対するコメント Comment on Course Evaluation
I received the comment that I should refer to entrepreneurship as well. I will focus on it too.
担当教員のプロフィール About the Instructor
Professor Dr. Kenji Yokoyama attained a bachelor of economics at Waseda University and a doctor of management later. His specialties are international trade practices and strategic management. He wrote more than 50 paper articles for PRJs and made more than 40 academic presentations about these areas. With his academic contribution, he was awarded the "International Trade Promotion Award" twice in 1992 and 1995, and the "Foreign Trade Academy Award" in 2002. He has been active in promoting multi-cultural education not only in Japan but also in the entire Asia Pacific area. For these activities, he was nominated and shortlisted for the Asia Contribution Award and the Asia Future Award three times in a raw from 2019 to 2020.
（実務経験 Work experience）
Before joining NUCB Business School, he had worked for Ritsumeikan Asia Pacific University (APU) for 21 years. He was one of the founders of APU. He took the positions of an Associate Dean for Academic Affairs, Dean for Admissions, Dean for Student Affairs, Dean for School of Management, Advisor to President and Vice-President during the 21 years. He was President of the AAPBS (Association of Asia Pacific Business Schools) and is now the advisor to the president. He is also the Vice-Chair of the Business School Committee at JUAA. He has been working for various public organizations as head of committees and so forth.
Refereed Articles
- (2024) Impact of AACSB Accreditation on Education Quality: Perception of Faculty in an Accredited School in Japan. International Journal of Educational Management
- (2016) Source of Economic Growth in Ethiopia: An Application of Vector Error Correction Model. Australian Academy of Business and Economics Review (AABER) 2(4):