Entrepreneurship and Small Business Management
PROFESSORS DANIELE MARIA GHEZZI-JORGE A. DURAN E.
COURSE AIMS
The course is made up of two distinct, although related, modules, one per each
semester of classes.
The first module (Entrepreneurship) aims at providing students with both a
thorough understanding and specific practical insight about the strategic processes
of developing a new or an existing business, both in a domestic and international
market. Particular attention will be devoted to the exploration of the
entrepreneurial personality and leadership, and the character of entrepreneurs and
entrepreneurial leaders. The main theoretical concepts of strategic business
planning will be complemented by the acquisition of operational tools and
techniques related to the aforementioned issues.
The second module Small Business Management will discuss the main features of
Family Business (Small to Medium-sized Enterprises), their competitive strategies
and entrepreneurial activities. Also, the succession process and composition of
government structures in family business will be thoroughly examined.
Moreover, given the importance of family-owned SMEs for the Italian economy,
relevance in the discussion will be given to the topic in order to understand their
peculiarities and develop the ability to provide adequate solution to related
managerial issues.
LEARNING OUTCOMES
At the end of the course, students will be able to:
– Understand and discuss all the key traits of entrepreneurial personality and
leadership styles applied to the different phases of a business’ life cycle;
– Develop a business plan (also for internationalization) and prepare the related
formal document(s) for the start-up of new businesses or the development of
existing ones;
– Discuss and evaluate a business plan in terms of the actual feasibility of a
new venture;
– Discuss and present to a selected public a business plan project;
– Understand y discuss the features of family business entrepreneurial
orientation, applying some research propositions and the concept of
enterprising family.
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Understand and discuss the peculiarities of family business strategic
management, applying general agency theory and RBV perpectives.
Understand and discuss the succession processes in family business
ownership and management, applying knowledge about successor’s
commitment, relationship predecessor-successor, type of knowledge
demanded, and the size and dispersion of ownership and management in the
family firm.
Understand and discuss the role of governance structures in family business,
applying related general principles and theories.
Explore the relationship between enterprise and family and their frequent
overlapping in SMEs particularly in the Italian context.
COURSE CONTENT
Module I: Entrepreneurship
- Entrepreneurship and leadership
- Formulation of a business plan: structure and contents.
- Collecting and organizing data for your business planning.
- Evaluation criteria for business planning.
- Business Planning for internationalization.
- Strategies and techniques for searching for investors.
- Financing a new venture (“Business Angels and co.”).
Module II: Small Business Management
- Defining family business.
Articles: Basco and Pérez Rodriguez, 2009; Chua et al., 1999
- Theoretical frameworks to family business.
Articles: Habbershon et al., 2003; Tagiuri and Davis, 1996; Gersick, et al.,
1999; Klein, et al., 2005.
Case discussion: Case A, Case B, Case C.
- Entrepreneurship in family business.
Articles: Zellweger et al., 2011; Duran-Encalada et al., 2012.
Case discussion: Cinepolis Case
Case presentation by group: From Swords to Polughshares Case.
- Strategic planning in family business.
Articles: Ward, 1988; Chrisman et al., 2005; Craig and Moores, 2010; Sirmon et
al., 2008.
Case discussion: JBGE Case
Case presentation by group: Babit Ranches Case, Avon financial ratios
Exercise.
- Succession in family business.
Articles: Le-Breton-Miller et al., 2004; Sharma and Irving, 2005; Royer et al.,
2008; Cabrera-Suárez et al., 2001; Miller et al., 2013.
Case discussion: Cardon Family Case
Final project: Agnellis and Fiat Case
READING LIST
Module I:

J. TIMMONS-S. SPINELLI, New Venture Creation, MC GRAW HILL, latest editions (7th edcition),
2007..

T. KUBR-H. MARCHESI-D. ILLAR–H. KEINHUIS, Starting up, achieving success with professional
business planning, McKinsey & Company, Inc. Switzerland, 1998. To be downloaded at:
http://www.scribd.com/doc/4505824/Mckinsey-Starting-Up-Business-Planning-Manual.
Module II:

Basco, Rodrigo and Pérez Rodríguez, María J. (2009). Studying the Family Enterprise
Holistically: Evidence for Integrated Family and Business Systems. Family Business
Review, 22(1): 82-95.

Chua, Jess H.; Chrisman, James J.; and Sharma, Pramodita (1999). Defining the Family
Business by Behavior. Entrepreneurship Theory and Practice, 23(4): 19-39.

Habbershon, T.G.; Williams, M.; and MacMillan, I.C. (2003). A unified systems
perspective of family firm performance. Journal of Business Venturing, 18: 451–465.

Tagiuri, R. and Davis, J.A. (1996). Bivalent attributes of the family firm. Family
Business Review, 9(2): 199-208.

Gersick, Kelin E.; Lansberg, Ivan; Desjardins, Michele; and Dunn, Barbara (1999).
Stages and Transitions: Managing Change in the Family Business. Family Business
Review, XII(4): 287-297.

Klein, Sabine B.; Astrachan, Joseph H.; Smyrnios, Kosmas X. (2005). The F-PEC
Scale of Family Influence: Construction, Validation, and Further Implication for
Theory. Entrepreneurship Theory and Practice, May: 1042-2587.

Zellweger, Thomas M.; Nason, Robert S.; and Nordqvist, Mattias (2011). From
Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing
Family Entrepreneurial Orientation. Family Business Review XX(X): 1– 20.

Durán-Encalada, Jorge A.; San Martin-Reyna, Juan M.; and Montiel-Campos, Héctor
(2012). A Research Proposal to Examine Entrepreneurship in Family Business. Journal
of Entrepreneurship, Management and Innovation, 8(3): 58-77.

Ward, John L. (1988). The Special Role of Strategic Planning for Family Business.
Family Business Review, 1(2): 105-117.

Chrisman, James J.; Chua, Jess H.; and Sharma, Pramodita (2005). Trends and
directions in the development of a strategic management theory of the family firm.
Entrepreneurship Theory and Practice, September: 555-576.

Craig, Justin and Moores, Ken (2010). Strategically aligning family and business
systems using the Balanced Scorecard. Journal of Family Business Strategy, 1: 78–87.

Sirmon, David G.; Arregle, Jean-Luc; Hitt, Michael A.; and Webb, Justin W. (2008).
The Role of Family Influence in Firms’ Strategic Responses to Threat of Imitation,
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Entrepreneurship Theory and Practice, November: 979-998.
Le-Breton-Miller, Isabelle.; Miller, Danny.; and Steier, Lloyd P. (2004). Toward and
Integrative Model of Effective FOB Succession. Entrepreneurship Theory and
Practice, Summer: 305-328.
Sharma, Pramodita and Irving, P. Gregory (2005). Four Bases of Family Business
Successor Commitment: Antecedents and Consequences. Entrepreneurship Theory and
Practice, January: 13-33.
Royer, Susanne; Simons, Roland; Boyd, Britta; and Rafferty, Alannah (2008).
Promoting Family: A Contingency Model of Family Business Succession. Family
Business Review, XXI(1): 15-30.
Cabrera-Suárez, Katiuska; De Saá-Pérez, Petra; and García-Almeida, Desiderio (2001).
The Succession Process from a Resource- and Knowledge-Based View of the Family
Firm. Family Business Review, XIV(1): 37-46.
Miller, Danny; Minichilli, Alessandro; and Corbetta, Guido (2013). Is Family
Leadership Always Beneficial? Strategic Management Journal, 34: 553-571.
The chapters to be studied for the course will be indicated. Same for not attending students.
Further reading materials (artciles, books, papers, case studies etc.) will be provided by the
professor during the course.
TEACHING METHOD
The course will be taught through different methods combined: lectures, discussions of case
studies, presentations by students in-class and project works.
ASSESSMENT METHOD
For the first module, students attending class on a regular basis will benefit the following
final mark composition: group work: 50% , final written exam: 50%.
For the second module, students attending class on a regular basis will be required to work
on case discussion, group presentations and a final project, according to the weights:
Case discussion in class
50%
Group presentation
25%
Final project
25%
Students not attending class on a regular basis will be required to take a final written test
covering all the topics discussed in class studying all the texts indicated (books, handouts
and other on-line materials).
NOTES
Students can meet with Professors before lectures; any other information will be available
on the Faculty notice board.