Corporate Foundations and Family Businesses
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Dogus University IE356 Business and Society 2014-2015 Spring Semester Class presentation Corporate Foundations and Family Businesses by İklim KILIÇ
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Corporate Foundations and Family Businesses
- 2. What is a company? A company is an association or collection of individuals, whether natural persons, legal persons, or a mixture of both. Company members share a common purpose and unite in order to focus their various talents and organize their collectively available skills orresources to achieve specific, declared goals.
- 3. Types of companies in Turkey Capital Companies – Individual Companies Limited Company: In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. Joint Stock Company: Joint stock companies established by at least 5 natural or legal person. Limited liability of shareholders in proportion to the shares. Commandite Company: Although similar to the structure of the commandite company , the capital divided into shareholders.It is a very unusual type of company in business life. Commandite Company: Can be established as simple commandite partnership or as commandite company divided into shares. Some partners have limited and others have unlimited shares that the responsibility of shareholders is limited to the rate of shares. Collective Company: Although similar to the structure of the commandite company , in collective company may only real person can be shareholders. Sole Proprietorship: Also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business.
- 4. What is the C-Level? C-level, also called the C-suite, is an adjective used to describe high-ranking executive titles within an organization. C, in this context, stands for chief. Officers who hold C-level positions are typically considered the most powerful and influential members of an organization; consequently, they make higher-stakes decisions, their workload is more demanding, and they have relatively high salaries.
- 5. Corporate Titles CEO: Chief Executive Officer : head of a company CTO: Chief Technical Officer : in charge of technical issues CFO: Chief Financial Officer : responsible for finance COO: Chief Operating/Operations Officer : in charge of operations management and of managing the daily activities of a corporation CMO: Chief Marketing Officer : in charge of sales and distribution, publicity etc.
- 6. Numbers in Turkey •The number of operational commercial companies and entreprieses reach 1.543.032. •36.98 % Sole Proprietorship, •51.39 % limited company, •6,97 % joint-stock company.
- 7. Definition of Family Company “They are called “Family Company” because of all the partners or shareholders with the majority of the capital are coming from family.” Bülent ECZACIBAŞI
- 8. 10 Dying Industries Sector Revenue 2010 (in millions) Decline 2000-2010 Forecast Decline 2010-2016 Establish- ments 2010 Decline 2000-2010 Forecast Decline 2010-2016 Wired Telecommunications Carriers $154,096 -54.9% -37.1% 23,474 -10.5% -15.9% Mills $54,645 -50.2% -10.0% 9,553 -23.6% -12.8% Newspaper Publishing $40,726 -35.9% -18.8% 6,128 -28.6% -17.6% Apparel Manufacturing $12,800 -77.1% -8.5% 2,265 -60.5% -11.3% DVD, Game & Video Rental $7,839 -35.7% -19.3% 17,369 -34.8% -11.2% Manufactured Home Dealers $4,538 -73.7% -62.0% 3,968 -56.7% -58.7% Video Postproduction Services $4,276 -24.9% -10.7% 1,789 -43.2% -37.8% Record Stores $1,804 -76.3% -39.7% 2,916 -77.4% -11.6% Photofinishing $1,603 -69.1% -39.1% 7,083 -59.3% -33.3% Formal Wear & Costume Rental $736 -35.0% -14.6% 2,310 -28.5% -17.0%
- 9. Is there still a chance? Rank Newspaper Primary Locality State Weekday Circulation Owner 1 The Wall Street Journal Nationwide 2,378,827 News Corp 2 The New York Times Nationwide New York City New York 1,865,318 The New York Times Company
- 10. Some die, some live alternately. • An American-based provider of home movie and video game rental services • Founder: David COOK • Founded in 1985
- 11. Some die, some live alternately. • Provider of on- demand Internet streaming media available to viewers • CEO: Reed HASTINGS • Founded in 1997
- 12. Why The world's oldest company went bankrupt? • Was founded in Japan in 578. • Doing Temple construction and restoration • Respond quickly to changes • Focus on core business, more disperse • Kongo gumi was drawn to the construction business and entered the office-residential construction.
- 13. Transition Risk •Mismanagement, failed strategies of the CEOs •Failed to keep pace with new technology •Attitudes like “We are the market leader" •Companies created "new business model“ that have grown rapidly and destroy others •They captured “the fastest growing disease”
- 14. Company life in Turkey •Nearly 85 percent of enterprises in Turkey took place after 1996. •Founded companies in the last 11 years have the share in the total is approaching 65 percent. •2 of every 3 companies going bankrupt. •93.8 percent of deaths from Sole Proprietorship.
- 15. Pursuit of immortality •The world's longest-lived companies are participating in Japan, Italy and the United States. •Since they began, almost all have remained in the same business. •Most of them operate in the traditional sector of their countries.
- 16. Antinori Chianti Classico • Was founded in 1385 by Giovanni di Piero Antinori. • Just doing the wine business and is currently 26th in the generation of management.
- 17. Antinori Chianti Classico •The company is managed by the family, literally. There are 6 people on board, of which 2 were from outside the family. •They do not focus on financial results. Instead, they are looking to create company based on solid foundations that will leave for their grandchildren. •No generation has been chasing of rapid growth strategy. They know it will be compromising its quality and found them a debt trap. •They are applied "without sacrificing quality“ policy enough to dare to harm in financial way. •The company can always have cash. It provides by distributing dividends over 40 years .
- 18. Antinori Chianti Classico •Family, is preparing the new generation carefully for the future, but still not forced to them to enter the family business. •They always stay away from the bankers. They prefer to grow their own possibility. •They willing to accept non-family managers. •If they need managers, they are finding more meaningful raising one of their own. •To do not fall for the mistake they make, they send their chieldren to gain their own experience in areas outside of them family-owned company.
- 19. Faber-Castell •Luck is an important factor. •We need young people who are able to manage and well trained in every generation. •You have to determine exact heir to sustainable longevity of a family business. •Companies need to work with a certain value. •Always one person stands out.
- 20. Faber-Castell •It is important corporate governance. •The person will be hired from family who needs to have sufficient features. •Outside from family members must not be involved to work. •You must work with people who want to work together for many years, not to use this opportunity to skip steps in their career.
- 21. 4 difference of deep-rooted British C. Hoare & Co. is an English private bank. It is the oldest bank in the United Kingdom and the world's fifth oldest bank. Founded in 1672 by Sir Richard Hoare, C. Hoare & Co. remains family-owned and is currently managed by the 11th generation of Hoare's direct descendants
- 22. 4 difference of deep-rooted British • Berry Bros & Rudd are Britain's oldest wine and spirit merchant, established in the 17th century. Their flagship store has been located at 3 St James's Street, London since 1698 when it was founded by the Widow Bourne in London. A supplier to the royal family since the reign of King George III, historic customers have included Lord Byron, William Pitt the Younger and the Aga Khan. • They created the Cutty Sark whisky, and pioneered the vintage concept for The Glenrothes single malt Scotch whisky
- 23. 4 difference of deep-rooted British • Established in 1676, James Lock & Co. Ltd. is the oldest hat shop in the world, as well as being one of the oldest family owned businesses still in existence.
- 24. 4 difference of deep-rooted British •Shepherd Neame is an English regional brewery founded in 1698 in Faversham, Kent. It is one of the oldest breweries in Great Britain and has been family-owned since 1864.The brewery produces a range of cask ales and filtered beers. Production is around 230,000 barrels a year. It owns around 360 pubs, predominantly in Kent, London and South East England. The company exports to twenty countries.
- 25. Common topics of British •They know that what makes the company different and special. •They always keep family in the business. •They transformed the history of the company to treasure. •If necessary, they bring forces from outside.
- 26. Hacı Bekir Turkish Delight and Aqidah Candies •Confectioner Bekir Effendi, to be widely known as Hacı Bekir after his pilgrimage to Mecca, moved from Araç, Kastamonu to Istanbul in 1777. He opened a small confectionery shop in Bahçekapı and began to personally produce and sell varieties of candies and “lokum”s (Turkish Delights). Hacı Bekir confections, with their history of four different centuries, appeal to tastes in five continents today.
- 27. The secret to living longer •Focusing •Concern for customers •Constant quest •Thinking big •Simplicity
- 28. What are the difference of non-public? 1. They focus on niche areas. 2. They are more resistant to crisis. 3. They are buying other companies too. 4. They are growing when economy getting smaller. 5. Locality is an important factor. 6. They set up in a very small places. 7. Long-term, Investment and Persistence.
- 29. 7 Deadly Sins 1. Same old song 2. Children become adults too 3. Selfishness rather than loyalty to family 4. We are a big, happy family 5. Father knows best 6. If we ignore may be it works 7. Tell me about your childhood
- 30. 6 C Code 1. Cash 2. Communication 3. Criticism 4. Commitment 5. Compassion 6. Credit
- 31. How old are the bosses when they handed over? Founder Age of transfer To whom Asım KOCABIYIK 77 Ahmet KOCABIYIK (son) Ayhan ŞAHENK - (He died) Ferit ŞAHENK (son) Cevdet İNCİ 81 Emel İNCİ ÖNAL (doughter) Hasan TÜREK 70 Sait TÜREK (son) İbrahim ORHAN 60 Murat ORHAN (son) Kamil YAZICI – İzzet ÖZİLHAN 55 – 64 Tuncay ÖZİLHAN (son)
- 32. How old are the bosses when they handed over? . Nejat ECZACIBAŞI 80 Şakir ECZACIBAŞI (brother) then Bülent ECZACIBAŞI (son of Nejat ECZACIBAŞI) Rahmi KOÇ 72 Mustafa KOÇ (son) Sabri ÜLKER 80 Murat ÜLKER (son) Sakıp SABANCI - (He died) Güler SABANCI Selçuk YAŞAR 79 Feyhan KALPAKLIOĞLU (doughter) Teoman BAYGAN 71 Ayda BAYGAN İLKEL (doughter) Vehbi KOÇ 83 Rahmi KOÇ (son)
- 33. The AGE •Before the age of 65 is the most ideal age to transfer the company to the next generation. •The ideal age for the transferee is 35.
- 34. How to prepare generations? •Large and medium-sized companies can provide experience to the younger generation on abroad. It provides the family surname problem. •Small companies, as they can track the approach of abroad, they can also choose to country to gain experience. They don’t have problem of recognation. So, they can choose big or foreign company to become an expert. •In some cases, they can work on banks, companies or fabrics to gain some experience as “temporary work”.
- 35. 5 critical suggestions for preparation 1. Value and Culture created by the founder should be able to transfer the next generation. 2. Members of the next generation should have clear ideas about themselves. 3. The next generation’s members should have received the required training and gained experience. 4. They should be dominate all kinds of subjects. 5. The next generation should have the CV that put out what they want to see by founders.
- 36. The of key business is choosing leaders The only leader strategy: The type of administration that all decisions and management collected on a person (until give the authority to someone else) Or Alternately presidency model : The type of administration that all decisions and management collected on a person in a shortly term. (like 3-5 years)
- 37. “The person who minds nobody’s business but his own is probably a millionare.” Anonymous “Business is a combination of war and sport.” André Maurois
- 39. Thank you for listening Any question?