Family Business Management

Location:
Nigeria and Italy

Language:
English

Schedule:
2 times a year

Executive Summary

SME Awards

Most family-controlled businesses in Nigeria suffer premature death no sooner than the original owner/founder dies. Lack of succession plans or inadequate succession plans is a major sustainability challenge of family-controlled businesses in Nigeria. Unlike Nigeria, several family-owned businesses have existed for over 100 years in the United States and E.U, some of which are but not limited to; IBM, Ford Motors, Coca-cola, General Electric, Nestle, etc.

In recognizing the importance of family-owned businesses in the development of national economies, Rome Business School Nigeria-RBSN offers a 2-weeks short Executive Education on Family Businesses and Inter-Generational Successions.

Description of the context / reasons for business owners taking the course

Retiring with clear investment vision.

Strategic investment for your retirement payoff.

Creation of jobs for the present and next generations.

You will leave a robust growing sustainable business behind for your children as a legacy.

Expanding, Innovating and retaining leadership to the next generations in developed and evolving economies.

Learning Outcomes

On completion of the program, participants will be able to:

  • Provide an understanding of ‘family business’ within the context of the Nigerian/African Culture with respect to the corresponding economy
  • Develop strategies that will help them start, run and grow a family business with international networks, that lead to high-performance companies, loyal shareholders, and healthy families.
  • Play a key role in the Nation’s economy as family business owners.
  • Establish the family business culture among Nigerians; promote cross-cultural communication and diverse management cultures between Nigerians and other countries 
  • Identify different types of family businesses in Italy and the globe for benchmarking global networking and partnership.

Aims and Objectives

Executive Education on Family Business is aimed at:

Creating a platform that will enable Nigerian family business owners to participate in the Family Business Network Exchange: FBN Xchange is a secure, international, online community where family businesses across the world come together to connect, exchange and learn.

Participating in the Family Business Internship platform for the Next Gen Group: The Next Gen Group is the network of young people from associate business families where they leverage on knowledge sharing among other leading family-owned businesses.

Assisting existing indigenous family businesses to develop a sustainable management framework, culture and skills that will help grow and keep businesses generationally by benchmarking with international standards.

Assisting Participants to develop strategies that will help them start, run and grow a family business with an international network that lead to high-performance companies, loyal shareholders, and healthy families.

Assisting existing non-family owned businesses to restructure into a family business model with an intergenerational sustainability framework.

Using benchmarked skills that will help employees to properly invest, start, develop, and grow a sustainable family firm.

Formulating an effective framework that will help them address conflicts and identify specific challenges associated with family-owned businesses.

Getting business solution packages that will enhance the sustainability of their businesses to the next generations.

Global Summit on Family Owned Business: UAE, USA, India, Italy.

Certification with credit hours from Rome Business School.

Who is it for?

  • Employees and Entrepreneurs across all professional fields aspiring to retire with a sustainable business of their own for their family and generation unborn.
  • People running a family business and wishes to learn better strategies to expand and sustain their business generationally.
  • A family member or a representative from an already established firm that wants to convert the business into a family business model.

Where?

The program will take place in at the following locations:

  • Rome Business School Nigeria
  • Rome Business School, Italy

When?

  • The programme is organized at two times a year with at least 90 days of previous information.

Structure

Family Business Management includes:

  1. Three days of Lectures in Nigeria
  2. One Week Study Visit to Rome, Italy
  3. Meetings with Family Business Owners
  4. Investment Pitches and Business Networking
  5. Visits to Family-owned Business Firms
  6. Accommodation, Travels
  7. Services

2 -6 are optional

Lectures

In-Country Session (Choose your modules)

A. Strategies and Visioning – 3 Days (N175, 000)

  • Entrepreneurship in Family Firms
  • Strategies in developing a Sustainable Family Business
  • Family Team Building
  • Visioning and Competitive Differentiation
  • Formulating, Implementing and Maintaining Family Protocols

B. Leadership and Succession Planning – 3 Days (N175,000)

  • The Family’s Dynamic Role Within Family Business: Managing for the Long Term – Leadership and Inter-generational Succession
  • Preparing and Moving Smoothly through a transition
  • Ownership Structure and Corporate governance
  • Fostering a culture of Stewardship
  • Family Firm Values

C. Conflict Resolution in FB – 2 Days (N150,000)

  • Legal Challenges and Managing Conflicts in Family Business – Change Management and Patterns of Development
  • Coping with Risks and Uncertainty – Family Business Life-Cycle: the Patriarchal System – Dealing with Cultural Barriers

D. Family Business Finance and Financing – 2 Days (N90,000)

  • Resolving financial and Ownership issues
  • Capital and Assets – Fostering Fiscal Prudence

A Week Study Tour In Italy (1200 Euro)

  • Visitations to companies owned by Italian Families
  • Meetings with family business owners
  • Round Tables and Investment Pitches
  • Family Business Networking and Mentoring
  • How to Access over 500,000 SMEs in Italy
  • Cultural Programs: Understanding the entrepreneurial cultures in Italy and Nigeria
  • Networking with the Italian Association of Family Firms
  • Next Generation Group – FBN Xchange

Meetings

In order to increase the knowledge of the Italian/European Family owned Business Models, participants will be given the opportunity to meet:

  • Family Business Owners
  • FOB Associations
  • Family-owned Firms
  • United Nation’s organizations

Suggested Visits:

Confindustria is the Italian employers’ federation, founded in 1910. It groups together more than 113,000 voluntary member companies, accounting for nearly 4,200,000 individuals.

Unioncamere – the Union of Italian Chambers of Commerce, Industry, Crafts and Agriculture.

Confcommercio,  Italian General Confederation of Enterprises, Professional Activities and Self-Employment, is the largest representation of a company in Italy, involving more than 700,000 businesses.

AIdAF, the Italian Association of Family Businesses, was founded in 1997 by Alberto Falck together with a group of entrepreneurs bound by the same principles and today encompasses 160 family businesses, representing approximately 13% of our Country’s GDP.

AFBON  exists To assist existing indigenous family business owners to develop a sustainable management framework, culture and skills that will help grow and keep their businesses generationally by benchmarking with selected and well known international players in the family business ownership.

Social Programme

The cultural program includes:

  1. Rome guided tour
  2. Social dinner
  3. Final party

Accommodation

Participants can be housed in apartments with the following features and facilities:

  • central Rome location
  • single or double rooms with ensuite bathrooms
  • breakfast
  • wi-fi internet access
  • cleaning

Services

The Rome Business School’s program includes;

  • Transportation: Transportation from and to the airport or railway station on arrival and departure.
  • Tutoring: Students can always count on the assistance of professional tutors. 
  • Learning Materials: Students will be provided with a wide variety of useful slide presentations, case studies, articles, videos and internet links.
  • Assistance for VISA procedures: When needed for visa procedures, students will be sent an official invitation letter and will be given all the necessary bureaucratic.