Understanding Family Firms Case Studies on the Management of Crises,
Family-owned and managed firms are often beset by a variety of crises that can impact the firm’s very survival. These may include changes in technology, deaths of critical family members, competition within an industrial sector, shifts in market dynamics
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Alan L. Carsrud • Malin Brännback
Understanding Family Firms Case Studies on the Management of Crises, Uncertainty and Change
Alan L. Carsrud Ted Rogers School of Management Ryerson University Toronto, Ontario, Canada, Canada [email protected]
Malin Brännback School of Business and Economics Åbo Akademi University Turku, Finland [email protected]
ISSN 2191-5482 e-ISSN 2191-5490 ISBN 978-1-4614-0865-9 e-ISBN 978-1-4614-0866-6 DOI 10.1007/978-1-4614-0866-6 Springer New York Dordrecht Heidelberg London Library of Congress Control Number: 2011935144 © Alan L. Carsrud and Malin Brännback, 2011 All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Acknowledgments
We are grateful to the Price Center for Entrepreneurial Studies in the Anderson School at UCLA for their support in the early development of some of the cases in this volume and to the Ewing Marion Kauffman Foundation of Kansas City, MO for their support in the development of those cases developed at Florida International University. Without our students at the University of California, Los Angeles, Florida International University, Ryerson University, Pepperdine University, and Åbo Akademi University, it would have been impossible to bring these cases to life and to make these stories available to a wider audience. We are also indebted to the family firms who allowed us to observe them and contributed their time and energy so others might gain insights.
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Contents
1 Introduction............................................................................................. Background on the Cases.......................................................................... Managing Crisis, Uncertainty, and Change..............................................
1 2 2
2 Reading a Family Business Case........................................................... About Case Types.....................................................................................
5 6
3 Case One: Today’s Paint and Body – Different Views of Finding a New President.................................................................... Introduction..............................................................
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