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Published in:
2020 | OriginalPaper | Chapter
12. Case Study 3: Ugarak Product—Preserving Socioemotional Wealth in the Family Business
Authors : Veland Ramadani, Esra Memili, Ramo Palalić, Erick P. C. Chang
Published in: Entrepreneurial Family Businesses
Publisher: Springer International Publishing
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Abstract
Ugarak Product is a family business manufacturing all types of products with various dimensions of windows with and without shutters, doors, hanging glass facades, winter gardens, multipurpose kiosks, business buildings, interior and exterior window benches. Also, it produces and installs a high-quality PVC joinery and aluminum metalworks. It runs from three offices. The headquarter is located in home town, Visoko, Bosnia and Herzegovina. The remaining two offices are, one in Sarajevo, and the other one is in Munich, Germany. Currently, the family enterprise is run by a young team, led by the 39-year-old CEO, who perceives the family business as successful in the future.
This case study is interesting to discuss the further succession of the family business while preserving the socioemotional wealth of the family enterprise. It will be interesting to explore the fact that coming generations are the one who may make or break the preserved values of the firm.