Managing SMEs and Family BusinessesModule Details

Rationale

Small and Medium-sized Enterprises (SMESs) constitute a great part within the global market and are key drivers of employment, innovation and economic growth. Throughout this course, the students will have the opportunity to delve into concepts, theoretical ideas and academic debates to understand the key elements of SMEs management and its evolution within micro and macro environments. One of the main objectives of the course is to enhance students’ entrepreneurial perception and analytical and managerial skills, from marketing to financial management and human resources. The course is designed to provide a comprehensive analysis of the operations and major challenges of the everyday modern SME and coherently explain each operating plan and the implemented strategies required for an effective and sustainable management.

Learning Outcomes

At the end of the course students will be expected to:
(i)    Apply a range of key skills to decision making, business planning, problem solving and project leading.
(ii)   Employ functional concepts and operations in activities.
(iii)  Critically evaluate family owned SMEs characteristics, behaviour and motivations and draw conclusions related to improvement and growth practices needed.
(iv)  Exploit and identify strengths and weaknesses of SME in order to carry out the most appropriate strategic path, setting specific and realistic goals.
(v)   Assess the nature of the wider business environment and its opportunities and threats upon the SME.
(vi)  Structure an integrated business plan with the necessary financial analysis.
(vii) Employ a number of relevant marketing techniques and promotional innovative strategies to stand out within the local market.