ColeTek offers us a unique look into the evolving relationship amidst deuce generation and the difficulties that come with succession, control, ownership and successfully passageway the torch. The volatile relationship between ColeTeks aging founder, Alan Cole, and his two sons, capital of Minnesota and Brian is at the essence of this case. Alan Cole is now faced with a life changing decision, sell the company to an interested vendee; hire new management to run the company, or undertake to establish a viable way to bring his two sons back to ColeTek. Through ColeTeks example we are able to dismember different opportunities available to transfer family held subscriber line.
Alan Cole always relied on his aggressive initiative and creative mind to produce the al-Qaida for his business and to dictate his family life. In 1966 Alan and his brother founded a manufacturing business out of their basement. As the times changed Alan and his brother no yearner had the same vision of their companies future, therefore, Alan packed his bags and embarked on his own journey. collectible to the success of his innovation ColeTek, Inc was an over night success. Its success fly the coop off the CC200 model that Alan designed himself, ColeTek was able to reach yearly sales of $1 million by 1979.
By the 1980s Alan was able to region his dream with the people he cared most for his family. His two sons, capital of Minnesota and Brian interred the family business with different interest and high view for success. Alans creative mindset never rationally though-out the consequences of what could happen without in good order preparing the boys before joining the company. Alan Cole was caught up in the hour and idea of passing his life work on to his siblings. capital of Minnesota and Brian were fresh out of college and ready to conquer the world.
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