Case Study 3: Ugarak Product—Preserving Socioemotional Wealth in the Family Business

Veland Ramadani, Esra Memili, Ramo Palalić and Erick P. C. Chang
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Veland Ramadani: South East European University
Esra Memili: University of North Carolina at Greensboro
Ramo Palalić: International University of Sarajevo
Erick P. C. Chang: Arkansas State University

Chapter 12 in Entrepreneurial Family Businesses, 2020, pp 193-200 from Springer

Abstract: 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.

Keywords: Family business; Succession; Socioemotional wealth; Ugarak Product; Bosnia and Herzegovina; Germany (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-47778-3_12

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DOI: 10.1007/978-3-030-47778-3_12

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