Family Capitalism And The 19th Century

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Family capitalism is regarded to firms that are operated by family and its family member, although it is also known as perpetuation of family capitalism, which means long-live and long-lasting, they usually could not be passed on by more than one generation (Jones and Rose, 1993). Since the early 20th Century, among the world, Europe had a concentration of the largest ten and twenty companies in countries that are under family control. For instance in France at the beginning of the 21st Century, only 15 families had controlled 33.8% of the total market value of listed corporate assets; and in Germany, family firms hold 17 of the largest hundred companies. However on the other hand, there was only 6.6% of market value that were hold by family firms in the United Kingdom (James, 2008). The aim of this essay is to explain whether Cadbury was a typical family capitalism in the 19th Century. I will argue that Cadbury was not a typical family capitalism as they held the Quaker beliefs that made them different from other family firms; they also had a different organisation structure and management style; and they lasted longer than the other family firms at that time. This essay is structure as follows; first, I will explain the Quaker belief and how it made Cadbury different from other family firms; then I will examine Cadbury’s organisation structure and management style; and finally, I will look at the durability of Cadbury and compare it with another family firm. First of
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