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TK Klaveness - Coursework Example

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They family firms may have to face problems related with thinking and ideologies that may arise out of age difference, their personal choice, their education levels and they way they perceive their business to be. …
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TK Klaveness
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TK Klaveness

Download file to see previous pages... In the given case, the Torvald Klaveness or TK had many children from his two marriages. There were future grandchildren too which also increased the family number. So, in such a huge family matters related with share and dividends becomes obvious. 2. What insights can you gather on how family enterprises compete and think differently? (Compare the family business to the non?family owned business). There are certain inherent traits that rare seen in the business family enterprises compared with the non business enterprises. The business families will be found to be always engaging in increasing their interests’ specially the shares in the company. They will be found to be concerned about their family shares too. This may not be seen on non business families at the first sight. As in the case study, Tom Erik was seen to be concerned about the future of his two daughters. Same was seen in case of the two sons of Trond named Morten and Jan as they were quite young and he was anxious about their inheritance. Though the family was well related it seemed they were more eager in protecting the wealth of their individual shares. 3. What are the key issues that lie ahead for the Klaveness family and the Group? (think in terms of family, ownership and strategy) Firstly, there was the issue of choosing the right heir for the company. There were differences between tom Erik and Trond Klaveness. They had different business approaches and personalities. Their leadership styles would vary accordingly. The issue was if only one was chosen as the leader, according to the company guidelines what would happen to the rest of the family members. There were issues related with the off springs of the two sons of TK , about how they would contribute to the business affairs. Also the female members of the family were showing their interests in the family business. And Secondly, in terms of ownership, the family was at a fix of how much shares to be allotted. In terms of strategy there were differences between the two brothers about retaining the company legacy and passing it to the next generation intact. While Trond wanted to change the shareholders agreements. 4. What is your diagnosis or interpretation of the situation they face? The family was not able to form a single conclusion where they would arrive at a single consensus. There were many members like Trond who had different aspirations and did not wish to remain with the company for ever. The issues related with share allotments and succession complicated the matter more as there were differences in ideologies between the two main members of the family. 5. What should Trond propose at the August 2002 meeting? At the meeting of 2002, Trond should propose that a proper family meeting be announced that would be mediated by the third party council. This would help to bring uniformity in the discussed issues. 6. How should he and the family proceed? Trond will have to proceed in a way so as to retain his father’s legacy and also address his own personal goals. He has to maintain a share level in the company that would benefit his sons who were quite young for inheritance in the company. 7. From your cultural perspective and your family experience, what recommendations would you offer the Klaveness family? The Klaveness family was a huge and an extended one. They needed to spend more time with each so s to prevent the formation of any rivalry between them. Money is important for any family to run but it is the people who hold the family together that are essential to continue a huge business empire like the Klaveness’. Tetra Pak Converting Technologies Dr. Kristian J. Sund Read the case and consider the following questions: 1. What were the ...Download file to see next pagesRead More
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