Henry Phipps, Jr. made his destiny in the steel industry beside one of America's most celebrated entrepreneurs - Andrew Carnegie. His wealth was managed in the form of trusts, which he hoped would provide a stream of income for their descendants and his family into the prospect.
Phipps had a obvious dream for the intergenerational temperament of his possessions, which demanded both an efficient organizational structure for the wealth to be managed and leadership on the part of family members to keep his original vision intact. Despite undergoing several important legal and leadership changes, the trusts survived relatively intact and continued to achieve their express aim of conserving the capital Phipps created and providing income for Phipps family members.
PUBLICATION DATE: October 03, 2010 PRODUCT #: 811031-PDF-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
Related Case Solutions & Analyses:
Balancing Family and Business Needs at Merck KGaA
How to Resolve Board Disputes More Effectively
How Companies Can Avoid a Midlife Crisis
Managing Through Rose-Colored Glasses
Goddard Space Flight Center: Building Learning Organization (B)
Doing Better at Doing Good: When Why and How Consumers Respond to Corporate Social Initiatives
Business and International Environmental Treaties: Ozone Depletion and Climate Change
Empowering Language
Social Corporate Responsibility
Earning Management and Earning Quality
