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Discover More About Family Businesses: Troubles and Triumphs

For those who are unfamiliar to Zildjian, and even those that are familiar with Zildjian, the age of the company is shocking. Zildjian is 394 years old. What makes it even more impressive is "very few family businesses last more than three generations," with about 16% of family businesses only lasting a single generation (Gittleson). But Zildjian began in 1623 with a man named Avedis Zildjian, an Armenian alchemist living in Constantinople who discovered a "secret process for treating alloys" that he then applied to cymbal (Plazonja). Fast forward to present day, and the company still applies this secret process (Gittleson).

But of the 394 years Zildjian has been active, one hundred percent of the time has the company been owned and operated by the long-running Zildjian family. What started as a According to an interview with current owner/operator Craigie Zildjian, the company has always been operated by the Zildjian family (Morse). "Currently, Craigie and her sister Debbie continue the family tradition in what is recognized as the oldest family-owned business in America" (Plazonja). As if that were not impressive enough, Craigie "took the reins from her father in 1999," and she is "the first woman to head up the business" (Morse).

As one could imagine, retaining a lasting line of people who stay passionate about cymbals and cymbal-making could be quite difficult. Craigie speaks on this issue: "there’s no question that our legacy keeps us all focused on preserving the business for the long haul" (Morse). Obviously, one would hardly like to be the member in the family that has to let the business up when there is such an impressive and long history behind it. The Zildjian family has a passion for honoring and retaining its family name by improving the quality of its products and keeping the company going, for as long as they can (Morse).

Being a Zildjian family member does not guarantee a job; "don't expect a job with the company right away," report the owners (Gittleson). In order to make sure each family is well-suited and ready to pick up the family name, every family member of the business is required "to work elsewhere to get experience outside the company" (Gittleson). While not every family member will want to take up the family business, it is a prestigious position to be able to lead in a 394 year old company. So, the question becomes, how do you choose a successor? It has to be a Zildjian family member.

Craigie describes this challenge: "In assuring Zildjian’s future, one of the biggest tasks I face as CEO is getting succession right. We don’t want the 15th generation to feel obligated to join the business, nor do we want them to feel entitled" (Morse). To find that willing individual who wants to take up the business to preserve the family name without making them feel obligated is indeed a difficult task.

But, having a private and family-owned business has its perks. Craigie says, "you're allowed to think long term. You don't have to play to the market," which allows the company to create new ideas and see them come to fruition without having to appease shareholders who would complain otherwise (Gittleson). For example, the company "introduced the first titanium-coated cymbal as a limited edition line, which was a risky R&D project," but the line ending up paying off (Morse). This kind of innovative and experimental freedom is something that benefits family companies such as Zildjian. Astoundingly, despite such risky business maneuvers and potential conflicts with inner family issues that could bleed out into business issues, the company still retains about 65% of the cymbal market globally (Gittleson). Such success owes mostly to the company's easily identifiable name, its quality products, and its willingness to take risks where other companies would not. Back in the early 1960s, Zildjian was the only cymbal company with a presence in the U.S. (Plazonja).

While Zildjian faces many challenges as the world's largest cymbal producer, with competition pressuring in from companies like Sabian and Paiste, the family-owned business shows no signs of stopping or failing. With such a massive market share, it's hard to imagine Zildjian is going anywhere, and it's even harder to imagine that Zildjian will be without another Zildjian family member to carry on the business.

Works Cited

Morse, Gardiner. “A Formula for the Future.” Harvard Business Review. July 2007. Web. https://hbr.org/2007/07/a-formula-for-the-future

Gittleson, Kim. “Trade secrets of oldest family firm in US.” BBC News. 7 June 2012. Web. http://www.bbc.com/news/business-18261045

Plazonja, Jonathan. “About Zildjian.” Avedis Zildjian Company. 2017. Web. https://zildjian.com/information/about-zildjian

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