Hardback
Family Business Case Studies Across the World
Succession and Governance in a Disruptive Era
9781800884243 Edward Elgar Publishing
Designed as a learning tool to nurture contextual empathy and strategic decision-making capabilities in families-in-business facing internal and external disruptions, Family Business Case Studies Across the World presents a unique collection of case studies from across the globe to create a comprehensive understanding of how family firms can respond to future disruptions.
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Critical Acclaim
Contributors
Contents
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This book presents a unique collection of case studies from across the globe to create a comprehensive understanding of how family firms can respond to future disruptions. Each case contains learning notes with objectives, discussion questions and suggested readings to facilitate learner understanding and engagement with the topic. Cases on topics such as global succession and governance practices will aid strategic decision-making capabilities in family businesses and will also benefit practitioners in these areas.
Diverse in terms of generational involvement, demographic groups, cultural aspects, institutional settings and industries, the cases range from founder-led SMEs to multi-generational family conglomerates in 18 countries spanning over four continents. In addition to identifying successful practices, this book offers unconventional wisdom on the impact of family feuds, sudden death, divorce and multiple marriages on family businesses. It concludes by exposing new understandings on succession and the unique role played by rising-generation leaders in this disruptive era.
Informed by the common research paradigm of the Successful Transgenerational Entrepreneurship Practice (STEP) Project Global Consortium, this book will provide a practical learning experience for advanced students and scholars of family business, family entrepreneurship, and strategic management studies.
Diverse in terms of generational involvement, demographic groups, cultural aspects, institutional settings and industries, the cases range from founder-led SMEs to multi-generational family conglomerates in 18 countries spanning over four continents. In addition to identifying successful practices, this book offers unconventional wisdom on the impact of family feuds, sudden death, divorce and multiple marriages on family businesses. It concludes by exposing new understandings on succession and the unique role played by rising-generation leaders in this disruptive era.
Informed by the common research paradigm of the Successful Transgenerational Entrepreneurship Practice (STEP) Project Global Consortium, this book will provide a practical learning experience for advanced students and scholars of family business, family entrepreneurship, and strategic management studies.
Critical Acclaim
‘Cases are a slice of life that offer a mirror into the life and work of a family enterprise. As the world changes so deeply these cases help us understand the unique ways that families are responding to the current time of crisis and upheaval. Incredible stories!''
– Dennis Jaffe, BanyanGlobal Family Business Advisors
‘This very impressive volume contains extraordinarily useful case studies that address key challenges that face family businesses today. The authors generously share their academic expertise and blend it with up to date stories based on real life experience from family businesses across the world. As an editor of the first STEP Project book published in 2010, I can highly recommend this book to anyone with an interest in understanding successful family enterprising.’
– Mattias Nordqvist, Stockholm School of Economics, Sweden
''As an agri-food manufacturer, this case study succinctly encapsulates the challenges and crises our family business encountered. We hope the learnings from our experience illustrate the resilience family firms must demonstrate, and the importance of keeping your family values at the heart of everything you do.''
– Michael Hoey, Country Crest
– Dennis Jaffe, BanyanGlobal Family Business Advisors
‘This very impressive volume contains extraordinarily useful case studies that address key challenges that face family businesses today. The authors generously share their academic expertise and blend it with up to date stories based on real life experience from family businesses across the world. As an editor of the first STEP Project book published in 2010, I can highly recommend this book to anyone with an interest in understanding successful family enterprising.’
– Mattias Nordqvist, Stockholm School of Economics, Sweden
''As an agri-food manufacturer, this case study succinctly encapsulates the challenges and crises our family business encountered. We hope the learnings from our experience illustrate the resilience family firms must demonstrate, and the importance of keeping your family values at the heart of everything you do.''
– Michael Hoey, Country Crest
Contributors
Contributors: Daniël Agterhuis, Dalal Alrubaishi, Kevin Au, Nunzia Auletta, Ameline Bordas, Stephen Browne, Myriam Cano-Rubio, César Cáceres, Kelly Xing Chen, Hsi-Mei Chung, Eric Clinton, Alexandre Dias da Cunha, Irmak Erdogan, Steve Gaklis, Remedios Hernández-Linares, María-Jesús Hernández-Ortiz, Marshall Jen Peter Klein, Jolanda Knobel, Brittany Kraus, Yi-Chun Lu, Antonio Martinez Valdez, Patricia Monteferrante, Carmen Pachas Orihuela, Francisca Panadés-Zamora, Stefan Prigge, Miruna Radu-Lefebvre, Kavil Ramachandran, Elena Rozhdestvenskaya, Andrea “Ginny” Santiago, Rosemarie Steenbeek, Elizabeth Tetzlaff, Manuel Carlos Vallejo-Martos, Julian van den Akker, Judith van Helvert, Stefano Wagner Avila, You Fong Wu, Özlem Yildirim-Öktem
Contents
Contents:
Foreword by Pramodita Sharma xvii
Foreword by Daniel Trimarchi xix
About the STEP Project Global Consortium xxi
Acknowledgments xxiii
1 Family firms across the world: succession and governance in
a disruptive era 1
Nupur Pavan Bang, Georges Samara, Rodrigo Basco, Andrea
Calabrò, Jeremy Cheng, Luis Díaz-Matajira and Albert E. James
2 Family business case learning: how to maximize learnings from this
STEP project global casebook 10
Jeremy Cheng, Andrea Calabrò, Luis Díaz-Matajira, Nupur Pavan
Bang, Rodrigo Basco, Albert E. James and Georges Samara
PART I CONFLICTS, SUDDEN DEATH AND SUCCESSION
3 Aborted succession: we need both succession and retirement plans 21
Miruna Radu-Lefebvre and Ameline Bordas
4 Mending the fence before the family fell apart: succession in the
Shampoo family 28
Kavil Ramachandran and Nupur Pavan Bang
5 The silence before the storm: intragenerational conflict for succession 37
Özlem Yildirim-Öktem and Irmak Erdogan
6 Lessons learned from being NextGen 47
Peter Klein and Stefan Prigge
7 Florax Group: when unintended succession leads to unfulfilled promises 55
Rosemarie Steenbeek, Judith van Helvert and Jolanda D.A. Knobel
8 Succession turnaround at the Avendorp Group: a true family tragedy 63
Daniël Agterhuis, Julian van den Akker and Judith van Helvert
PART II GOVERNANCE FOR TRANSITION PLANNING
9 Valuing our values: family values driving business success 73
Eric Clinton and Stephen Browne
10 Time to hang up the boots? 82
María Jesús Hernández-Ortiz, Francisca Panadés-Zamora,
Myriam Cano-Rubio and Manuel Carlos Vallejo-Martos
11 A woman at the helm: growth and succession at Inversora Lockey C.A. 90
Nunzia Auletta and Patricia Monteferrante
PART III UNCONVENTIONAL WISDOM IN UNUSUAL TIMES
12 “Should I stay or should I go?”: Filipe de Botton’s dilemma 102
Alexandre Dias da Cunha and Remedios Hernández-Linares
13 Can I retire? An early successor’s dilemma 113
Dalal Alrubaishi
14 Which family prevails during divorce and succession? The Wagner
Avila case 121
Luis Díaz-Matajira and Stefano Wagner
15 “Chemical reaction”: choosing a successor in a mosaic family 129
Elena Rozhdestvenskaya
16 Clease’s Auto: how a global pandemic allowed a family to maintain
their family business legacy 138
Elizabeth Tetzlaff, Brittany Kraus and Albert E. James
17 The Ricci Durand family in the COVID-19 pandemic 144
Carmen Pachas Orihuela, Antonio Martínez Valdez and César
Cáceres Dagnino
PART IV RISING-GENERATION LEADERSHIP IN ONGOING DISRUPTIONS
18 Pineola Nurseries: family business succession under fire 153
Steve Gaklis
19 DC International: riding out of disruption as a third-generation successor 161
Marshall Jen, Jeremy Cheng, Kevin Au and Kelly Xing Chen
20 Am I ready for this? 169
Andrea “Ginny” Santiago
21 Universal Cement Corporation: doing “one thing at a time” in the
crisis of multiple needs? 177
Yi-Chun Lu, You-Fong Wu and Hsi-Mei Chung
22 Conclusion: the lessons learned 184
Rodrigo Basco, Albert E. James, Nupur Pavan Bang, Andrea
Calabrò, Jeremy Cheng, Luis Díaz-Matajira and Georges Samara
Index
Foreword by Pramodita Sharma xvii
Foreword by Daniel Trimarchi xix
About the STEP Project Global Consortium xxi
Acknowledgments xxiii
1 Family firms across the world: succession and governance in
a disruptive era 1
Nupur Pavan Bang, Georges Samara, Rodrigo Basco, Andrea
Calabrò, Jeremy Cheng, Luis Díaz-Matajira and Albert E. James
2 Family business case learning: how to maximize learnings from this
STEP project global casebook 10
Jeremy Cheng, Andrea Calabrò, Luis Díaz-Matajira, Nupur Pavan
Bang, Rodrigo Basco, Albert E. James and Georges Samara
PART I CONFLICTS, SUDDEN DEATH AND SUCCESSION
3 Aborted succession: we need both succession and retirement plans 21
Miruna Radu-Lefebvre and Ameline Bordas
4 Mending the fence before the family fell apart: succession in the
Shampoo family 28
Kavil Ramachandran and Nupur Pavan Bang
5 The silence before the storm: intragenerational conflict for succession 37
Özlem Yildirim-Öktem and Irmak Erdogan
6 Lessons learned from being NextGen 47
Peter Klein and Stefan Prigge
7 Florax Group: when unintended succession leads to unfulfilled promises 55
Rosemarie Steenbeek, Judith van Helvert and Jolanda D.A. Knobel
8 Succession turnaround at the Avendorp Group: a true family tragedy 63
Daniël Agterhuis, Julian van den Akker and Judith van Helvert
PART II GOVERNANCE FOR TRANSITION PLANNING
9 Valuing our values: family values driving business success 73
Eric Clinton and Stephen Browne
10 Time to hang up the boots? 82
María Jesús Hernández-Ortiz, Francisca Panadés-Zamora,
Myriam Cano-Rubio and Manuel Carlos Vallejo-Martos
11 A woman at the helm: growth and succession at Inversora Lockey C.A. 90
Nunzia Auletta and Patricia Monteferrante
PART III UNCONVENTIONAL WISDOM IN UNUSUAL TIMES
12 “Should I stay or should I go?”: Filipe de Botton’s dilemma 102
Alexandre Dias da Cunha and Remedios Hernández-Linares
13 Can I retire? An early successor’s dilemma 113
Dalal Alrubaishi
14 Which family prevails during divorce and succession? The Wagner
Avila case 121
Luis Díaz-Matajira and Stefano Wagner
15 “Chemical reaction”: choosing a successor in a mosaic family 129
Elena Rozhdestvenskaya
16 Clease’s Auto: how a global pandemic allowed a family to maintain
their family business legacy 138
Elizabeth Tetzlaff, Brittany Kraus and Albert E. James
17 The Ricci Durand family in the COVID-19 pandemic 144
Carmen Pachas Orihuela, Antonio Martínez Valdez and César
Cáceres Dagnino
PART IV RISING-GENERATION LEADERSHIP IN ONGOING DISRUPTIONS
18 Pineola Nurseries: family business succession under fire 153
Steve Gaklis
19 DC International: riding out of disruption as a third-generation successor 161
Marshall Jen, Jeremy Cheng, Kevin Au and Kelly Xing Chen
20 Am I ready for this? 169
Andrea “Ginny” Santiago
21 Universal Cement Corporation: doing “one thing at a time” in the
crisis of multiple needs? 177
Yi-Chun Lu, You-Fong Wu and Hsi-Mei Chung
22 Conclusion: the lessons learned 184
Rodrigo Basco, Albert E. James, Nupur Pavan Bang, Andrea
Calabrò, Jeremy Cheng, Luis Díaz-Matajira and Georges Samara
Index
