Family Business

Samuel C. Johnson Family Enterprises IMD Distinguished Family Business Award Winner 2002 by Prof. Joachim Schwass* We should chew out not about whether we have lived up to the expectations of our fathersbut whether we, as fathers, live up to the expectations of our children. Sam Johnson The founder of what is today the Samuel C. Johnson Family Enterprises was Samuel Curtis Johnson (1833-1919). In his early working years, Johnson was employed at the Racine Hardware Company, where he sold parquet floor floors. In 1886 he acquired the parquet trading floor caper, which in its first year generated a profit of $268.27 Recognizing res publicas need to treat wooden floors, Johnson developed a wax product from beeswax and other components that he mingled in a bathtub. In 1888 he introduced Johnson Prepared roll up and bought his first national advertising in The Saturday Evening Post. By the turn of the century, wax sales were larger than the revenues from selling parquet floo rs, so Johnson discontinued the sales of parquet. As the companys wax products gained wide acceptance, Johnson exported them to Britain and even as far as Australia, and the number of employees ballooned to over 100. By 1900, Johnson Wax was at the school principal in human resources policies, offering paid vacations to the employees.

In 1917 it introduced a profitsharing plan that gave employees 25% of the companys earnings. In 1919 Samuel C. Johnson died and his son, Herbert Fisk Johnson (1868-1928) took over. Herberts sister, Jessie, neither worked in the communication channel nor inherited ownership. Herbert, w ho had joined the business at 20, working cl! osely with his father, became an equal partner in 1906, at which time the company became S.C. Johnson & Son. On Samuels going in 1919, Herbert, then 51, became President. More technical than his father, Herberts researchorientation revert to a number of new cleaning and treating products, which earned him a reputation as the real business builder by means of with(predicate) diversification. In...If you want to get a full essay, order it on our website: BestEssayCheap.com

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