Program Website

What do the Gap, American Eagle Outfitters, Publix, Wal-Mart, Ford, Motorola, Levi Strauss and Enterprise Rent-A-Car all have in common?

All of these companies are family businesses; meaning there are two or more family members in the business who have substantial control or ownership. Family businesses are more than just the mom-and-pop grocery store in your neighborhood. They are some of the oldest, most successful, and best employers in the world.

Because combining family and business is so important to do correctly, Stetson's Family Enterprise Center (FEC) has been helping students, professionals and family business owners since 1998. A campus survey revealed that 42 percent of Stetson's business school students and 37 percent of students across campus come from families involved in family business.

The Stetson Family Enterprise Center is designed for you if:

• Your family owns a business (making you a member of the Next Generation), or
• Your clients will be family businesses (making you a Professional Advisor).

Next Generation:

Why is all of this relevant? Because more than one-third of Stetson students' families own a business. As a member of the Next Generation, you need to be prepared for three relationships that may be life-long. You will have a closer connection with your family, assessing your role as a (potential) employee and (potential) owner/heir. As a member of the Next Generation, you will:

• Learn how to manage the eight risks you face
• Develop your own self-confidence and marketability
• Have a four-year dialogue with other next-generation peers
• Engage your family in a four-year discussion about your role as a family member, potential employee and potential heir/owner.

Professional Advisor:

Why is all of this relevant? Because if 90 percent of all businesses in the United States are family businesses, then as a professional advisor (in accounting, management, finance, law, marketing or consulting), chances are 90 percent of your clients will be family businesses. As a Professional Advisor (especially as a dual major) you will benefit through:

• Exposure to top family business leaders in the region
• A competitive advantage to serving your clients
• Greater marketability
• Greater preparedness to start your own business or work within someone else's family business
• Four years of exposure to both the older and younger generations in family business

With almost a decade of experience, four national awards, media coverage and a host of imitators, Stetson's Family Enterprise Center is an acknowledged leader in family business curriculum, including:

• The nation's first major and second minor in Family Business
• A board of advisors that keeps the program grounded in practical, real-world experience
• Highly innovative, engaging programs

This is a challenging, engaging program that will enable you to see how family involvement changes every business issue.

Faculty

Excellence in teaching and a focus on student development are key missions of Stetson University. Faculty members affiliated with the Family Enterprise Center are dedicated to helping students achieve their goals. Their research and scholarly activities are directed at making them more effective teachers and mentors.

Faculty members and staff include:

• Richard W. Copeland, LL.M., Tax, J.D., University of Miami; University of Florida; Associate Professor of Business Law and Tax; interest areas include legal issues, accounting issues, succession and estate planning.
• Paul E. Dascher, Ph.D., Pennsylvania State University; CPA; ethic applications within business disciplines, tax effects of selected managerial accounting decisions, behavioral impact of internal accounting reports
• Gregory K. McCann, J.D., CPA, University of Florida; Professor of Family Business and Business Law; certified public accountant; interest areas include communication, strategic planning, the next generation.
• Bruce Alan Morton

Course Information

The Family Business major will cover topics including family business dynamics; communications techniques; strategic, estate and succession planning; management of the overlap of family business; and management of lifelong relationships with families, business and wealth.

The minor is open to students of any major and is part of the Department of Accounting. Family Business is a minor and major taught by faculty from the School of Business Administration and College of Arts & Sciences, as well as working professionals.

The main focus of the Family Enterprise Center is teaching. Some of our required courses include the Family Business Profile with its Peer Discussion Group and the Business of Family Business. The Family Business Profile and Peer Discussion Group is an introductory course that includes discussion about communication, family dynamics, governance, succession, estate planning and social responsibility.

Students also create a Development Plan © that assesses themselves, their family and their family business. Students use and update this plan throughout their studies. The Business of Family Business helps students appreciate the integration of various business disciplines and evaluate issues relevant to their family businesses or organizations.

In addition to the required courses, students also complete an internship and a Capstone course. During the final Capstone course, students complete their Development Plans © and create a portfolio to use as they enter the job market.

Each student will have the opportunity to finish their Family Business studies feeling credible and marketable. Upon graduation, our students should have at least two job offers beyond their family business.

Family Involvement

Because families are a key part of the Center's focus, students' families can be involved in their studies as both parents and business owners. This involvement may include being interviewed for coursework, attending information sessions, speaking to students, or participating in seminars.

Internship Opportunities

The Family Business internship is designed to provide students with the skills, credentials and experience to aid them in their professional development. The overall goal is to increase their marketability and feeling of self worth.

By working in a family business that's not their own, students experience what it is like to be a non-family employee who is required to earn his or her credibility and act responsibly and professionally. They also can build off their knowledge of family systems and see how other family businesses are similar to and different from their own.

Alumni Highlights

• Trevor Whitley '06 - Financial Advisor, MNS Financial Management, LLC
• Mitchel Galizia '06 - Investor Services Advisor, Merrill Lynch
• Emily Ogorek '04 - Data Integrity Analyst, MetLife Financial Operations
• Mark Maundrell '04 - Professional Golfer, The NGA/Hooters Professional Golf Tour
• Erica McCormick '04 - Director of Special Projects, The Complete Logistics Company
• Jill Shipley '01 - Senior Leader of Family Learning, Asset Management Advisors

Clubs and Organizations

• Family Business Student Organization

Department Awards

• Business School Foundation Merit Award for Family Business
• Successful Senior Award, in memory of Adam Mullen

Contact:
Gregory McCann
386-822-7425
gmccann@stetson.edu

Full Time Faculty: 4

Degrees Offered:

• Bachelor of Business Administration with Major in Family Business
• Minor in Family Business