Rethinking Corporate Governance The Forming of Operative and Financial Strategies in Global Corporations
The Forming of Operative and Financial Strategies in Global Corporations
Chapter 11: From Stora Kopparberg to Stora Enso: in search of a strategy
The Wallenberg sphere had reached a dominating position in the Swedish industry by the middle of the 20th century. In the forest-based sector, the sphere controlled five large corporations, namely Stora Kopparberg, Wifstavarf, Kopparfors, Papyrus and Hylte. After WWII, the Wallenberg sphere had redefined its business rationale from one under which individual companies were built and developed organically, to one under which industrial restructuring, mergers and acquisitions dominated the expansion efforts. The family had also slowly but surely obtained the competence to govern large and operatively diverse corporations. To achieve that capability, they had developed skills in recruiting qualified managers and furnishing them with various kinds of resources including inspiring networks. Over time, several of these managers achieved top positions in the Wallenberg companies, ready to exchange experiences with their colleagues in the sphere, something that made continuous innovation and reorientation possible. Jacob Wallenberg Sr and Marcus Wallenberg Sr tried to establish the best possible market positions for all ‘their’ corporations, although Stora Kopparberg was a particularly cherished unit.
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