Villeroy & Boch is one of the oldest manufacturing companies in Europe, still controlled by the founding families, though with a public listing. Its specialty is ceramics, divided into bathroom fittings and tableware. At the time of writing the case study, demand was falling for traditional ceramic dining sets, but the business was continuing to grow as a whole. It was displaying considerable ability to automate and modernize in production, gaining efficiency improvements, and to use innovative designs and digital media to appeal to younger customers. It has committed to reduce its environmental impact through lower energy usage and recycling. It retained many features of responsible ownership, for example staying committed to the community in which it originated, maintaining significant manufacturing presence in Germany, and significant philanthropic activities in the region. There were hundreds of family owners, with the 10th generation starting to become involved in the business.
This Overview case summarizes the story and development of the LKK food and health products company, from its origins as a small provider of oyster sauce, to a thriving multinational firm in the early 21st Century. Since 1980 it had grown from a small specialist provider of oyster sauce with just 25 employees to a large multinational firm offering a wide range of food brands and health products. There was a particular focus on governance reform, ownership strategies, and the values and disciplines needed for long-term resilience. A challenge of passing on ownership to members of the fifth generation, a group of 14 cousins, was being met at the time of writing. Reforms of the early 21st Century to strengthen family relationships, governance and strategy were proving successful. There was also a strong humanitarian emphasis, with the establishment of enlightened or 'autopilot' leadership, placing collective need ahead of individual ego, and establishment of the Happiness Index, measured internally at the company, and the subject of a centre the family funded at Harvard University. The family faced new challenges. It was considering the establishment of a separate Owners Board - a function that had been carried out in effect by the Family Council. The case summarizes four previous case studies, the (A), (B), (C) and (D) cases, dating from 2002.
Samsung is a Korean conglomerate (or chaebol) founded in 1938. Once a sole trading company, it has grown into a myriad of companies generating over $380 billion globally in industries as varied as construction, semiconductors, shipbuilding, banking and entertainment. Like most Korean conglomerates, an unusual feature of Samsung is that it has no overarching holding company; it is a constellation of companies sharing a common name and tightly interwoven cross-ownership ties. This ownership structure allows the third-generation descendant of the family business, Jae-Yong Lee, to control the conglomerate with shares in only a few affiliates. The case focuses on three pivotal moments of the Lee family's leadership of the Samsung Group: the leadership transmission from the founder Byung-Chul to the second generation; the hospitalization of the visionary leader Kun-Hee and the succession to the third generation; and Jae-Yong's arrest and later conviction, causing a leadership vacuum within the group.
This case study features ProsFit, a European start-up company founded in 2013 that used breakthrough technology - Computer Aided Design (CAD) and 3D printing - to transform the way in which sockets for prosthetic limbs are produced. It promised to reduce fitting times considerably, improve comfort and cut production costs, helping to meet growing demand. Companies were registered in Bulgaria and in the UK. Proof of concept was established in April 2014, and ethics approval in the UK was granted. Two successful rounds of fundraising were completed at the time of publication of this case study in late 2015, and there were seven employees. It is a family firm, having been co-founded by father-and-son team Alan and Chris Hutchison. The latter is a double amputee and user of prosthetic limbs. Alan Hutchison is an experienced business developer, with a degree in Engineering Science from the University of Oxford. The decision to start the company stemmed from concern about the pain and discomfort Chris was experiencing with a prosthetic limb fitted traditionally as well as the lengthy time-to-comfort of the fitting process. Software scanning and 3D printing technology replaced the artisanal approach used for sculpting sockets. The company was set up to be both commercial and philanthropic, using profits from developed countries to subsidize sockets in developing nations. First invoices were issued in 2015. The founders estimated they had an18- to 24-month first-mover advantage from mid-2015.