Topic: Family business versus non family business
Coursework 1: Case Study (40%)
Torvald Klaveness was a larger than life personality in Norwegian shipping industry, respected by his peers, employees and family until his death in 1996. He established his own shipping company, the Torvald Klaveness Group, in 1946, shortly after the end of World War 2. Read the case study and answer the questions below.
Many shipping companies around the world remain family owned businesses and this case study illustrates some of the particular stakeholder and governance issues that exist in such companies. Now read the following case study about the Torvald Klaveness Group, a Norwegian shipping company. After this reflect on the following questions about the case, and write your answers in a short report (using the template below). You should feel free to discuss the questions in your syndicate, but the work you submit must be your own individual work! (If the work resembles too much that of your colleagues it will be deemed to be plagiarized).
1. What are classic family business issues that all family firms must face?
2. What insights can you gather on how family enterprises compete and think differently? (compare the family business to the non-family owned business)
3. What is your diagnosis or interpretation of the situation they face?
4. From your cultural perspective and your family experience, what recommendations would you offer the Klaveness family?
Now, consult the following webpage(s) at: https://klaveness.com/company/history/ and https://www.klavenessmarine.com/history/category876.html and conduct your own independent research on the Torvald Klavness Group. Based on your research:
5. Identify the changes that occurred in the group’s ownership structure, after 2010.
6. What effect will these changes have on the group’s competitiveness in the global shipping industry?
You should submit your work online by Sunday 21st February 2016. Please ensure that the total word count is no more than 2500 words. You will not be penalized if the word count is less – quality matters more than quantity. You will be penalised though if your work is substantially bigger than 2500 words.
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