Globally, family businesses are navigating the challenge of passing leadership to younger generations while adapting to a rapidly evolving market. For example, in China, many are transitioning to second or third-generation leaders, striving to preserve their legacy while embracing necessary innovation. This module aims to equip students with a strategic overview of family business succession and innovation, providing students with the most advanced tools and techniques for the sustainability of their family businesses. Highlighting the importance of business succession and innovation management, this module covers leadership transition, succession models, socioemotional wealth, family councils, and innovation-driven approaches. Successful students will acquire the knowledge and skills needed to apply tools essential for guiding business succession, innovation, and sustainable development. This is closely linked to the industrial ecosystem and leverages the Syntegrative Education model, combining theory with practice to foster entrepreneurship and innovation. By integrating leading theories such as HeXie Management Theory, students will apply interdisciplinary knowledge to real-world business succession and innovation challenges, particularly within family enterprises.
A. Demonstrate a critical understanding of business succession processes and strategies, and key related issues within the broader industrial innovation ecosystem. B. Demonstrate a critical understanding of the relationship between business succession, innovation, and sustainability in the industrial ecosystem. C. Critically assess a range of skills and tools designed to plan and implement business succession and innovation to address industrial challenges.
Based on the philosophy of Syntegrative Education, this module’s delivery pattern follows more intensive block teaching, and allows more meaningful contributions from industry partners. This delivery pattern provides space for students to concentrate on completing the problem-based and project-based assessments. Project-based education engages students in real-world challenges, applying theory to practical, hands-on projects for deeper learning. This module will be delivered through a series of key lectures/seminars. In addition, students will be required to analyse a number of cases, determining what worked and why.