Product details

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Abstract

Norcros was formed in the late 1950''s to protect the Sheffield family fortune from erosion by death duty, and was subsequently coupled with a similar objective for other entrepreneurial family companies. The history of the company divides into three relatively distinct phases. In the first of these, the basic inconsistencies of the original strategy led to its almost inevitable and predictable failure. The reaction to this failure was to move towards a more managed system, but the problem inherited from the company''s initial strategy meant that this transition inevitably took longer than expected. Once the managerial systems had been established, however, the complete strategy of the third phase, which carefully linked product market to financial strategy, became possible.
Location:
Industry:
Size:
Large
Other setting(s):
1956-1971

About

Abstract

Norcros was formed in the late 1950''s to protect the Sheffield family fortune from erosion by death duty, and was subsequently coupled with a similar objective for other entrepreneurial family companies. The history of the company divides into three relatively distinct phases. In the first of these, the basic inconsistencies of the original strategy led to its almost inevitable and predictable failure. The reaction to this failure was to move towards a more managed system, but the problem inherited from the company''s initial strategy meant that this transition inevitably took longer than expected. Once the managerial systems had been established, however, the complete strategy of the third phase, which carefully linked product market to financial strategy, became possible.

Settings

Location:
Industry:
Size:
Large
Other setting(s):
1956-1971

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