1st Edition

Family Dynasties The Evolution of Global Business in Scandinavia

By Hans Sjögren Copyright 2018
    136 Pages
    by Routledge

    136 Pages
    by Routledge

    A remarkable fifteen Nordic family businesses are among the 500 biggest companies in the world and the Nordic countries have more dynasties than most others per capita and in GDP terms. The willingness, often reluctant, of both the political system and labour movement to accept asset accumulation has helped these Nordic businesses survive. The top 1% of Swedes own close to 25% of the country's wealth, as opposed to 16.5% of Spaniards, where dynasties are also abundant. The pattern has held a firm grip on the Nordic countries since the Industrial Revolution and emergence of free enterprise. The trend is particularly pronounced in comparison with the Anglo-Saxon countries – somewhat less so relative to places like Italy, Japan, Germany and South-Asian countries.



    This book describes the factors and dynamics behind the ability of Nordic businesses to grow and thrive from one generation to the next in the process of becoming dynasties. Far from being commercial enterprises, they are a venue for power, philanthropy, passion, conflict, freedom and captivity. Like many other dynasties, the Nordic ones are a witch's brew of Machiavelli's Prince, Marx's belief in the potential of the meritocracy and Smith's baker who works to sustain his family. Topped by a spoonful of Weber's Protestant Ethic.



    This book will be key readings for students and scholars of entrepreneurship, corporate governance, business history, Scandinavian history, family business and enterprises and the related disciplines.

    Chapter 1: Dynasties in the Age of Capitalism



    The Lucky Sperm Club



    Mature and emerging dynasties



    Nordic dynasties



    Missions to fulfil





    Chapter 2: The Theory of Dynasty



    Personal, family-based and managerial capitalism



    Financial and human capital



    Dynastic longings



    Churchill's favourite marmalade?



    Ants and grasshoppers



    The good life outside the stock market



    A conceptual model



    Relational capital and value creation



    Historichal anchor





    Chapter 3: New Industry Logic



    Nordic dynastic entrepreneurship in the nineteenth century



    Merchant houses



    Banking and the bourgeoisie



    Inter-war dynasties



    Entrepreneurship in the countryside of Jutland



    Post-war dynasties



    Society modernizes



    Family-based retailers



    Into the digital revolution



    Countryside origins





    Chapter 4: Strategy, Structure and Dynamics



    Stick to what you know, or not



    A structural evolutionary pattern



    Conglomerates – a blind alley



    Business groups



    Bonnier – back to basics



    The u-turn of Lego



    Too much tradition kills



    In the wrong industry at the wrong time



    Continuity and discontinuity with historical roots





    Chapter 5: Values and Credos



    Servant of the people – Kamprad’s will



    Renewal and the national interest – the Wallenbergs



    Resolute leadership



    Spotlight on customers – the Perssons, Rausings and Kann Rasmussens



    The devil is in the details



    Winning strategies





    Chapter 6: Blood is Everything – Succession



    Family do or die



    Lonely spouses and cracks in the glass ceiling



    Changing role of women



    Shaky promises for the future



    Sibling rivalry



    A two-man show, or maybe not



    The extended family



    Sons-in-law and trials by fire



    Culture of leadership



    Frictionless succession



    Passive owners without day-to-day management duties



    Kinship triumphs





    Chapter 7: Business, Politics and Culture



    Political effort and conservative resistance



    To ease the tax burdens



    Welfare system alliances



    A long tradition of mutual benefit



    Give and take – a question of culture





    Chapter 8: Conclusion



    The weight of tradition



    The future of dynasties – local is global

    Biography

    Hans Sjögren is a professor at Linköping University and Stockholm School of Economics, Sweden.