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Subject category: Entrepreneurship
Published by: WHU - Otto Beisheim School of Management
Published in: 2008

Abstract

The case is centred on one of the oldest noble families in Germany - The House of Lippe - and their heir, Dr Georg Prinz zur Lippe. The Lippe family had been expropriated and expelled to West Germany after the Second World War. After the reunification of Germany, Prinz Lippe was the only family member that decided to take up the family business again. He bought back and restored the vineyards and the manor house that had been run-down during the Socialist era. Until today the winery has grown into a very successful business whose reputation not only reaches to all corners of Germany, but is also established internationally. Through his entrepreneurial drive, openness and creative spirit Prinz Lippe was able to gain the confidence of the local population and recruit very skilled employees that contributed greatly to the success of his wine business. Having diversified his business into other areas as well, Prinz Lippe''s latest strategic move was to buy a vineyard in Weimar, Thuringia that would nearly double his acreage for wine-growing. Students will be asked to assess the long-term strategy of Prinz Lippe and identify key success factors as well as risks relating to the family business. By doing so, students will realise how personal and family issues as well as history interact in the case of Prinz Lippe and how family businesses differ from non-family businesses in general. To provide the students with background information and facilitate the analysis, a detailed description of the family history and the re-establishment of the winery are given in the case. Furthermore, the students are provided with information about the prince''s human resource strategy and the diversification of his business into other areas.
Location:
Industry:
Other setting(s):
July 2006

About

Abstract

The case is centred on one of the oldest noble families in Germany - The House of Lippe - and their heir, Dr Georg Prinz zur Lippe. The Lippe family had been expropriated and expelled to West Germany after the Second World War. After the reunification of Germany, Prinz Lippe was the only family member that decided to take up the family business again. He bought back and restored the vineyards and the manor house that had been run-down during the Socialist era. Until today the winery has grown into a very successful business whose reputation not only reaches to all corners of Germany, but is also established internationally. Through his entrepreneurial drive, openness and creative spirit Prinz Lippe was able to gain the confidence of the local population and recruit very skilled employees that contributed greatly to the success of his wine business. Having diversified his business into other areas as well, Prinz Lippe''s latest strategic move was to buy a vineyard in Weimar, Thuringia that would nearly double his acreage for wine-growing. Students will be asked to assess the long-term strategy of Prinz Lippe and identify key success factors as well as risks relating to the family business. By doing so, students will realise how personal and family issues as well as history interact in the case of Prinz Lippe and how family businesses differ from non-family businesses in general. To provide the students with background information and facilitate the analysis, a detailed description of the family history and the re-establishment of the winery are given in the case. Furthermore, the students are provided with information about the prince''s human resource strategy and the diversification of his business into other areas.

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Location:
Industry:
Other setting(s):
July 2006

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