MANAGEMENT

CHARACTERISTICS AND PROBLEMS IN FAMILY SME

Contents


Characteristics and problems in family SME
Introduction
General Objective

Characteristics of a family SME
Establishment
Ownership
Management
Human resources
Size

Family and Family Business
Interrelation between family and business
Discrimination between family and family business
Strength of a family SME
Weakness of a family SME

Common problems in managing a family SME
Definition of roles - Co-ordination in managing a family SME
Refusal to change and training

Financial management

Criteria for recruiting family members
Succession

The succession of a family SME
The entrepreneurs of the first generation
The inheritors and successors

Factors for a successful succession
Planning of a successful succession

Competencies of a good manager
Leadership
Flexibility
Creativity
Decision making - seizing of opportunities
Self motivation
Risk assessment

Effective management of a family SME
Effective development of business plan
Organising people and other resources
Continuous adaptation to changes
Controlling and supervising entrepreneurial operation
Distinction between family relation and business relations

What you should avoid
Transfer family problems to business area and vice versa
Underestimate family membersí competencies
Rely on family members without controlling them

Expand rapidly and without planning

EVALUATION

ANSWERS

BIBLIOGRAPHY