The Role of Resources and Capabilities
The Successful Transgenerational Entrepreneurship Practices series
Chapter 5: Successful family business ownership transitions: leveraging tacit knowledge
Don Droppo Jr, new vice president of marketing was deep in thought. The reality of joining his father, Don Droppo Sr, owner and chief executive officer (CEO) of Curtis Packaging, had set in. The pleasant memory of their special après-ski conversation still resonated; his father had revealed the competitive potential he had built in Curtis over the years and the role that Don Jr could play in realizing that potential. The addition of John Giusto, a highly experienced paper-based packaging leader as senior vice president of manufacturing, soon after Don Jr’s hiring, meant that he would not be expected to realize Curtis’s promise alone. Don Jr knew his father had done something special in changing from an accomplished partner in an accounting firm whose clientele included Curtis to being Curtis’s owner. Don Sr had enhanced the presence of a proud business and trusted employer, successfully weathering business and personal challenges. Capacity had been added through the acquisition of another troubled paper-based packaging company.
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