Lessons

This is the story of a man who took up the challenge of business entrepreneurship at a time when others were more risk-averse. He devoted himself to this challenge and his innovative approach encouraged and motivated others. Finally he placed this now flourishing private business, one of Germany’s hidden champions, in the safe hands a newly formed mutual trust.

This summary is based on an early Lesson and is a re-read of a timeless topic; supplemented by an aspect that is often overlooked.

The key factor for economic growth is the business entrepreneur. Proof of this is found by comparing the economic dynamism of the Industrial Revolution, the post-WWII economic boom, and the high-tech clusters of Silicon Valley. However, world-class enterprises are also found in many rural areas such as the Altmühltal, Bavaria, where Thomas Hirsch founded one of Germany’s hidden champions.

This is a special Lesson contributed by Günther Ogger (author of best-selling books on business management) who settles accounts with ‘The Firm’ by reference to the newly published When McKinsey Comes to Town.

This Lesson tells the story of an entrepreneur who turned a mid-size craft business into a highly innovative, major international business group. Like many family business owners, Helmut Schreiner learned his trade from the ground up. Along the way he acquired a trove of skills and expert knowledge on the manufacturing of specialist labelling and adhesive technology. Decades later Helmut Schreiner achieved what many entrepreneurs often fail to do, he successfully passed on his life's work to the next generation of the family.

Politicians have long pursued the academization of the professional world and this has now caused a serious shortage of crafters/specialists/technicians. Chambers of Commerce and trade associations appear incapable of promoting initiatives for local and regional collaboration, networking or formation of SME clusters. Craft businesses, small and mid-size enterprises are, of course, occupied with their day-to-day business. Nevertheless, it is well worth their while making an effort to establish and support collaborative initiatives. After all, the future viability of many family enterprises are at stake: small firms that are vital for employment, a local diverse economy, and for the common good of communities.

How managers lost their business ethics and how family firms with moral principles turned into profit-maximizing shareholder-value corporations. The tale of the original business purpose of Cadbury, one of the world's iconic chocolate brands and of Hershey, another chocolate maker with a long tradition of business ethics.

"Good corporate governance" begins and ends with the entrepreneur. Our series on Ethical Business Leadership now features Hans Lindner, the founder and head of the Lindner Group. In 2020, the business newspaper Handelsblatt named Lindner a Pioneer of Business Enterprise and with KPMG elected Lindner Group to the Hall of Fame of Family Enterprises.

Many businesses have already adopted the working methods of New Work and Agile Work. After all, these methods are associated with meaningful work and flexibility. But the way they are applied is having serious consequences. And yet, managers could have learned from earlier attempts to humanize the workplace.

Following Relecture 6 which featured Karl Polanyi, this Lesson looks at the works of his brother, Michael Polanyi, a polymath who made important contributions to the theory of physical chemistry. Later on he turned to the social sciences, in particular economics, and finally as a philosopher Michael Polanyi developed an integrative theory of knowledge – an alternative to mainstream theories. Discover this original thinker

Principles – Practice – Achievements: "Arrogance can be deadly for a business enterprise", said Reinhold Würth, reflecting on the future of his life's work. Read how he turned a small firm selling industrial screws into the Würth Group – a global champion for industrial assembly materials and fasteners. How he succeeded and what business lessons can be learned

The series of entrepreneur profiles continues with Claus Hipp, longstanding head of HiPP, the market leader in organic babyfood. Learn how Claus Hipp's personal values — perseverance, modesty and versatility — have contributed to the entrepreneurial success of HiPP.

Read in his own words the ethical spirit of Robert Bosch. Learn how his ideas live on in the private worldwide company he founded, wholly-owned by the Robert Bosch trust, and his contribution to the common good.

Women quotas on supervisory boards are controversial, but they are spreading fast. Now gender balancing is also being proposed for management boards. There are many causes of gender gaps and each deserves a remedy. However, the women quota is the wrong solution.

This essay aims to provide clarity and orientation about automation. Automation is often considered one-sided instead of integrated — by wrongly excluding the human factor. Dr. Bodo Eidenmüller has co-designed the process of automation at Siemens, has transferred pioneering practical experience of automation from Japan, and is a committed observer of all things relating to Industry 4.0. He is convinced that automation can only be introduced expediently by integrating the workforce using proven methods based upon practical experience.