Essential of Management

Essential of Management Case Studies CASE STUDY (20 Marks) The case “An Enduring Family Business In A Competitive Industry – Columbia Restaurant Group” talks about the way the Hernandez- Gonzmart family operated, surmounted business challenges and grew the 110 year old family restaurant business in Ybor City, Tampa, Florida. The case starts out by providing in detail the background of Columbia Restaurant Group and the efforts of the founding member of the business, Casimiro Hernandez Sr.

It then chronicles the initiatives undertaken by his son, Casimiro Hernandez Jr. to ensure business survival, during the Great Depression. The case also mentions the efforts of the son-in-law of Casimiro Hernandez Jr. - Cesar Gonzmart to save the business during a period of decline in Ybor City. The efforts of Richard Gonzmart, who represented the fourth generation of the family to take the business out of a debt crisis and ensuring that it was in tune with the times, were also provided.

Answer the following question. Q1. Explain the intricacies of the dynamics in a family business. Q2. Discuss the need for family businesses to have effective leadership to make path breaking decisions during times of crisis. Q3. Debate the need for a long-standing family business to maintain its uniqueness and also be in tune with the times. Q4. Explain the importance of succession planning and outsiders in bringing the required business skills to the family business.