Family Businesses
Family Businesses have a strong influence on the german economy and society
Family-owned businesses and small and medium-sized enterprises play a vital role in the German economy, wielding considerable influence in fostering innovation and driving economic activity. 90 percent of all German companies are family-owned. They generate 55 percent of sales and account for about 57 percent of all jobs subject to social insurance contributions in Germany, according to estimates by the Family Firm Institute. In addition, these influential family entrepreneurs contribute to various social and environmental initiatives that have an impact not only in Germany, but also on a global scale, influencing societies and communities around the world.
RESEARCH AND EDUCATION
At the TUM School of Management, we are at the forefront of research on the opportunities and unique challenges faced by family businesses. Moreover, we are committed to providing specialized educational formats for management students that provide valuable insights into the dynamics of family businesses.
Global Center for Family Enterprise
The Global Center for Family Enterprise (GCFE) focuses on the interplay between the “family” and the “enterprise”. The Center’s research focuses on three main research areas: Sustainability, New Technologies and Innovation and Strategy and Governance in Family Enterprises. It is of utmost importance for the GCFE to take an interdisciplinary research approach by incorporating diverse perspectives (e.g. psychological, sociological, economic and legal) to examine family enterprise behavior. The Center’s research is mostly evidence-based and its goal is to achieve academic excellence while researching highly relevant topics. It is also the Center’s mission not only to create but to disseminate knowledge within Germany, Europe and the world.
AREAS OF INTEREST
- Sustainability in family enterprises
- New technologies and innovation in family enterprises
- Strategy and governance in family enterprises
Prof. Dr. Miriam Bird
“The Global Center for Family Enterprise was established in 2020 to address the importance of family businesses in the German business landscape through research and teaching. We provide insights into the unique opportunities and specific challenges of family firms, including various perspectives ranging from established family businesses to aspiring family entrepreneurs aiming to start their own venture.”
Chair for Family Business Culture and Ownership
The EQUA Endowed Chair for Family Business focuses on how the distinctive culture of family businesses influences organizational decisions and outcomes. Family businesses constitute the majority of businesses worldwide. Given the dominance of family enterprises in economies around the globe, the Chair teaches and researches about the uniqueness of family business as an organizational form and explores how it can promote positive societal development. As such, the Chair explores the entrepreneurial and social aspirations of business families, examining their financial and non-financial goals, values, and socio-emotional wealth. Importantly, the Chair pays particular attention not only to the uniqueness of a family-infused business culture but also embeds these insights into regional and industry contexts.
AREAS OF INTEREST
- Values and Culture of Family Enterprises
- Sustainability and Corporate Social Responsibility
- Social Evaluation, Legitimacy, and Reputation of Family Firms
- Disruptive Change and Innovations
Prof. Dr. Melanie Richards
“We consistently refine our teaching methods to provide students with a diverse range of courses and project studies covering family businesses, social entrepreneurship, sustainability, and corporate responsibility. Our approach integrates theory and practice, incorporating academic literature and practical insights from case studies, guest lectures, and interactive teaching formats across all courses.”
LEADING A FAMILY BUSINESS TO SUCCESS
TUM School of Management's tailor-made management education prepares our students to meet the unique challenges of family businesses and to achieve sustainable success.
„The TUM-BWL program provided me with a deep understanding of business principles, technical skills, practical experience and international perspectives. It enabled me to forge valuable relationships and build a great network. Today, I leverage this knowledge, my network of ambitious and successful peers, and the experience I gained to drive success in our family business.”
Lennard Schramm, NextGen SOTO organic veggie food GmbH, Alumnus Bachelor in Management & Technology
“With its interdisciplinary approach and modules from the fields of management as well as natural sciences and engineering, my studies at TUM School of Management have provided me with an excellent foundation for my role as a manager in our family business. I particularly appreciated the combination of theoretical knowledge from lectures with the opportunity to apply and improve my skills in real-life business situations and practical tasks. Finally, TUM is a great place and facilitator for networking, from which I still benefit today.”
Katharina Hartmann, Managing Director at Hartmann Möbelwerke GmbH, Alumna Master in Management & Technology
“TUM School of Management allows me to connect with students from all over the world interested in family businesses, and additionally offers lectures and seminars to gain scientific insights into this topic.”
Cornelius-Carlos Thywissen, Master student in Management and Technology
FAMILIENUNTERNEHMERTUM
Family businesses are the backbone of our economy and society and are facing massive challenges due to multiple disruptions such as demographic change, sustainability goals, geopolitics, energy transition and digital transformation. These influencing factors are changing family businesses and especially the Hidden Champions.
Within the TUM Ecosystem, FamilienUnternehmerTUM is the innovation incubator for family businesses. The platform is an initiative of UnternehmerTUM, Europe's largest center for start-ups and innovation. It aims to strengthen the innovative capacity and future viability of family-owned businesses and German-speaking SMEs by supporting them in their transformation processes, with the aim of promoting Germany as a location for innovation and business and securing its prosperity for future generations.
The unique network connects leading industrial companies, founders, researchers and investors and thus creates a concrete exchange in a trusting environment - tailored to each family business. Through the innovative combination of SMEs, founders and scientists, start-ups can on the one hand bring innovation to family businesses and on the other hand become the family businesses of tomorrow.
FAMILY BUSINESS CLUB
The Family Business Club, a student-led initiative at TUM, addresses the interests of all students passionate about family businesses. Its primary goal is to provide students with the opportunity to get in touch with established family businesses and to meet inspiring personalities. In this pursuit, the club equally emphasizes fostering mutual exchange, acquiring knowledge, and creating shared experiences, whether one is willing to work in a family business in the future or is part of the next generation. Participants are invited to join this student club where connections are made, learning is embraced and meaningful relationships are cultivated within the dynamic landscape of family business.
Get in touch with the board members: info@family-business-club.de