WELLESLEY, Mass., March 2012 /PRNewswire-USNewswire/ -- Members of family businesses will have the opportunity to develop their entrepreneurial leadership potential at Babson Executive Education's (BEE) new program, "Family Entrepreneurship: Growing the Family Business Across Generations," on May 16-17, 2012.

Professor Matt Allen, BEE's faculty director, says that "Families are the dominant form of business organization worldwide. They play a leading role in the social and economic wealth creation of communities and countries. To achieve continued growth and continuity, they must make strategic use of the entrepreneurial mindsets and capabilities that enable them to grow and create value."

The program was created from Babson's teaching and research efforts housed under the Institute for Family Entrepreneurship Research. Babson also is a founding member of the Successful Transgenerational Entrepreneurship Practices project, a global applied research initiative that explores the entrepreneurial process within business families and generates solutions that have immediate application for family leaders.

To accommodate participation by family businesses of Babson College students, BEE's program will coincide with the #1 School for Entrepreneurship's annual Commencement ceremonies.

Program Objectives

  • Help families understand how entrepreneurship works in a family business context and how to grow their businesses through entrepreneurial leadership
  • Prepare family businesses to create new streams of wealth across many generations - not just pass a business from one generation to the next
  • Focus on growth as the primary goal of family entrepreneurship and explore key issues as they pertain to both individuals and teams within family organizations

Curriculum

"Family Entrepreneurship: Growing the Family Business Across Generations" will explore key concepts of entrepreneurship and entrepreneurial leadership through a combination of action learning projects, lectures, and case studies. The focus will be on developing new strategies to be carried out immediately upon completion of the learning.

Accessing the talents and resources of the entire family for growth

  • Entrepreneurial Thought & Action(r) - Babson's method of entrepreneurial leadership, which starts with action and proceeds with quick reflection and recalibration as necessary - a perfect method for succeeding amidst uncertain market conditions.
  • Recognizing the strengths that family businesses have when it comes to entrepreneurship and how to leverage these strengths for success
  • Human capital resources, including social and relational capital

Advising and growth in the family business

  • How to leverage or use advisors to grow your business
  • Strategies for using advisors to help family enterprises to grow and overcome constraints
  • Dispelling the myths about advising

Family entrepreneurship within and across generations

  • Taking advantage of entrepreneurial ideas from the younger generation, while respecting the older generation
  • Creating an effective succession plan that promotes family entrepreneurship
  • Conflict management techniques and approaches

Additionally, the program will feature "From Start Up to the Next Generation," a unique case discussion featuring a visiting executive to reinforce the concepts presented in the program. There also will be focused breakthrough sessions on a few of today's pressing business issues including social media, creative financing, and globalization. The objective of these sessions is to provide practical knowledge that family business leaders can walk away with and immediately use.

Babson Executive Education is one of the world's top executive education providers, as recognized by our clients as well as Financial Times and Bloomberg Businessweek. We are a dynamic learning laboratory, where clients, faculty, staff, and partners work together to address real-world business challenges and create and capitalize on opportunities for our clients. With roots in Entrepreneurial Thought and Action(r), we develop the leaders that companies need most: those who can create opportunities, envision and navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to grow organizations and create economic and social value. Our solutions include customized and open enrollment programs, coaching, consulting, research, and published thought leadership. Babson Executive Education is a division of Babson College, the #1 institution in the world for entrepreneurship education.

About Babson
Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds(r). The College is a dynamic living and learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society--while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action(r) as the most positive force on the planet for generating sustainable economic and social value.


Source: Babson College