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Local Heroes: How Loch Fyne Oysters Embraced Employee Ownership and Business Success [Paperback]

David Erdal
4.5 out of 5 stars  See all reviews (6 customer reviews)

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Book Description

2 July 2009

In 2003, with Loch Fyne Oysters vulnerable to corporate takeover, its 112 employees bid for the company and won. Six years on, with business growing robustly, the company offers an inspiring example of how sustainability can go hand in hand with commercial success.

Recounting Loch Fyne Oysters' colourful birth and journey to employee-ownership, and drawing from his own wealth of experience facilitating employee-buyouts, David Erdal illustrates the benefits - economic, social and environmental - of the model for small and large businesses alike.


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Product details

  • Paperback: 256 pages
  • Publisher: Penguin; Paperback edition (2 July 2009)
  • Language: Unknown
  • ISBN-10: 0141035609
  • ISBN-13: 978-0141035604
  • Product Dimensions: 12.9 x 1.6 x 19.8 cm
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Bestsellers Rank: 189,630 in Books (See Top 100 in Books)

More About the Author

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Review

'Inspirational. The model of employee ownership at Loch Fyne Oysters shows what can be achieved when people are empowered and trusted, and fairly rewarded for their efforts' Alex Salmond, First Minister of Scotland 'An extraordinary story of personal commitment and vision which led to commercial success and community achievement. Employee ownership works.' Sir Menzies Campbell 'An interesting and valuable account of employee-owned business based on hard-won experience. There is also much to be learned from this book that is applicable to more conventional business managers.' Sir George Mathewson, Royal Bank of Scotland 'Compelling and inspiring, this is a book about global heroes - people who see the future first and make it happen' Sandy Balfour, chair, Divine Chocolate "David Erdal has taken us to a story of ordinary people creating a company out of the mists of Scotland for the benefit of all the employees. Loch Fyne Oysters is a fabulous business success yet it is as far away from city slickers and fat-cats as you can possibly get. Read it and realise that there is 'another way'.' Andy Law, author of Open Minds' 'As business books go it is in a class of its own. A rip-roaring yarn, always lucidly explained' Oldie 'An engaging, stylish little book!a handbook and manifesto for the gospel of employee-ownership' Financial Times 'Represents the polar opposite of the fast-buck, quick get-out model of private equity buccaneers ... How sweet must be the upside: working in a community and working for the community' Herald 'A welcome beacon of hope' Spectator

About the Author

David Erdal studied Chinese at Oxford, then worked as a teacher in Mao's China. After gaining an MBA at Harvard, he returned to Scotland and led the family paper mill, Tullis Russell, into all-employee ownership. In 1989 he won the Scottish Business Achievement Award. After obtaining a PH.D. at St Andrews on the psychology of sharing, he went on to be MD of Baxi Partnership, which structures and funds all-employee buyouts of medium-sized companies. He lives in St Andrews.

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3 of 3 people found the following review helpful
5.0 out of 5 stars An amazing story beautifully told 25 Jun 2008
Format:Hardcover
Local Heroes.
By David Erdal

A Review of the book by Peter A Hunter

In 1977 a company was formed at the head of Loch Fyne in Scotland that became Loch Fyne Oysters.
This book is the story of that company from its first tentative beginnings at the head of the loch to the internationally recognised brand that Loch Fyne Oysters became.

"Local Heroes" begins at the beginning telling beautifully, with great humour, the story of the company's genesis against the backdrop of its founding characters and the glorious vistas of the Loch and the mountains.

But this story is more than just an engaging tale of the setbacks and determination of two struggling visionaries.

In February 2002 one of the Founders of the company, Johnny Noble, died. He had been a huge and loved character and left a void that had to be filled.

But how?

The answer to that question is the real story of "Local Heroes."
The real story of Loch Fyne Oysters is the story of how, after the death of Johnny Noble, David Erdal showed the employees of the company how they could buy and run the company for themselves, how Loch Fyne Oysters became entirely employee owned.
And the story does not end there.

Ownership is a concept that wears two hats, both very similar and frequently mistaken for each other.

The first hat is physical ownership and is the first part of David's strategy.
How to transfer the nuts and bolts of the company to the names of the employees.
This is a physical process which ultimately changes the names on the title deeds.

The second hat is the way that people feel about what they do.

Changing the physical ownership of the company does not necessarily change the way that the workforce feel about what they do, having their names on a piece of paper does not give them ownership. The second half of the story is about what changed in the way that the company was run that allowed the workforce to take ownership.
What happened at Loch Fyne Oysters that allowed the workforce to change the way that they felt about what they did, to take ownership.

In this story of ownership and success are lessons that can be applied in any business, anywhere, to change the way that the workforce feel about what they do.

This is an amazing story beautifully told, filled with passion and lessons that work in any organisation.

Peter A Hunter
www.BreakingtheMould.co.uk
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1 of 1 people found the following review helpful
4.0 out of 5 stars Eye opening 14 Mar 2011
By Yogi80
Format:Hardcover
An excellent book, both the story telling and the story itself where fascinating. It was both eye opening and provided much food for thought.

I found that it gave me a good insight into employee ownership and how it benefits all and not just a few, certainly made me challenge some of my own views.

Power, knowedge and wealth to all!!
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1 of 1 people found the following review helpful
4.0 out of 5 stars A great book 4 Sep 2010
Format:Paperback
A thought-provoking and persuasive book far removed from the usual management platitudes and MBA-type quick-fix formulas.

It uses the successful Loch Fyne company to make the more general case for employee-owned companies.
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