Hans Koehl, right, and his son Jeffrey represent the most recent generations to oversee Spirol in Danielson, Conn. Opposite, Herman Koehl, center, Hans's father, founded Spirol in partnership with Walter von Conta, left, and Hans Prym.
A Richer View of Business
One goal of WPI's participation in the STEP project is to strengthen the university's undergraduate and graduate pro- grams in business by incorporating a greater focus on family enterprises, Hoy says. "Business schools have not done a proper job to this point of preparing students for their inevi- table fate, whether that is starting a family business, work- ing for a family business as a family or non-family member, or conducting business overseas, where family business are quite common. This research will help people understand that the most successful businesses are family-based — including in the engineering and technology realm." Among the most valuable aspects of the STEP
research, Hoy, Kasouf, and Phillips note, is the perspective it will offer on cultural differences in business practices and family dynamics. "Through its global projects program and globally diverse student body, WPI already gives students a tremendous introduction to the global society in which they will live, work, and hopefully prosper," Phillips says.
"This global database will help us give students an even richer view of the world of business." The researchers say they also look forward to using the STEP database to make cross-cultural comparisons and examine best practices across international boundaries. "Drawing distinctions between family businesses located in different regions of the world should be enlightening," Phillips says.
The team, which anticipates completing one or two
new case studies a year, is also looking forward to tackling a new challenge together. "We already have our eye on an interesting company,"
Hoy says. "Zildjian Cymbals in Norwell, Mass., is the old- est family-owned business in the United States. It is begin- ning its 15th generation of management and is being led by two women, who are its first female CEOs. Just imagine what lessons we can learn from a company with such a long and rich history." Q
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