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Full Description
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.
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