Book Description

With acquisition activity running into the trillions of dollars, the acquisition alternative continues to be the favorite corporate growth strategy of this generation's executives. Unfortunately, creating shareholder value remains the most elusive outcome of these corporate strategies. After decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value?

Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much -- and predictably never realize the promises of increased performance and competitiveness -- in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions.

Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals:

Book Description

Eating on the run has a long history in America, but it was the automobile that created a whole new category of dining: "fast food." In the final volume of their "Gas, Food, Lodging" trilogy, John Jakle and Keith Sculle contemplate the origins, architecture, and commercial growth of fast food restaurants from White Castle to McDonald's.

Illustrated with 217 maps, postcards, photographs, and drawings, Fast Food makes clear that the story of these unpretentious restaurants is the story of modern American culture.The first roadside eateries popularized once-unfamiliar foods—hamburgers, hot dogs, pizza, milkshakes, burritos—that are now basic to the American diet. By the 1950s, drive-ins and diners had become icons of rebellion where teenagers sought freedom from adult authority. Like the gas station and the motel, the roadside restaurant is an essential part of the modern American landscape—where intentional sameness of design "welcomes" every interstate driver. ... Read more

Reviews (4)

As dry as a fast food hamburger
This could best be described as a detailed history of chain-restaurants (not just fast food). It opens with a history of 'quick-service' eating establishments in the US, taking the reader through the history of tea rooms, roadside stands, diners, and other more recent permutations. Most of the book is devoted to histories of chain-restaurant companies, which amount to something less than riveting reading. The authors have thoroughly researched the history of every restaurant chain in painstaking detail, but rarely are these written in a way that makes for a gripping story. An exception is the Indiana-based 'Snappy Service' chain (closed in 1983), which is described in a way that brings its entrepreneur to life. The last chapter describes the pattern of chain restaurants that evolved in Springfield, Illinois. The book is profusely illustrated with well over a hundred photos and dozens of maps. One glaring error appears in a series of five maps (pp. 154-157) analyzing McDonald's domination of rival chains, in which the ratio of McDonald's to competitors was inverted.

An Easy Read
I liked it so much I brought a copy for a friend of mine. It tells you EVERYTHING you could ever want to know anout fast food in America.

The book will provide you with more fast food trivia than even the nerdiest person in the world would ever want to hear.

A great coffee table book.

Authoritative, but not light reading
I enjoyed this book much more than the previous reviewer, but he has a point. FAST FOOD, like the other titles in the "Road and American Culture" series, should not be confused with the typical book on "roadside Americana": it's not a lighthearted, heavily illustrated volume designed to evoke nostalgic memories. If that's what you want, search for titles written by John Margolies or Michael Karl Witzel, or published by Chronicle Books.

This is a serious examination of casual dining in America, from the lunch wagons which once served urban laborers through the chains which now cluster near every exit along the Interstate. Taken on its own terms, the book is a success, assembling more information (well-annotated, with an excellent bibliography) than any previous title on the topic. Just be sure you know what you're getting into!

unreadable
What could be more entertaining than a book about fast-food? What could be more fun than reading the history of Wendy's and Long john Silver, of hamburgers and hotdogs? Unfortunately the writers of 'Fast food' have a very bad case of sociologist's jargon. Most of the book is as exciting and as readable as a management study and many a paragraph goes beyond the comprehension of this reader, even though he graduated in literature. Moreover the writers do not bother to hide their cultured disdain for the food they write about. So notwithstanding the many interesting facts and observations in this book, in the end there is very little to enjoy. ... Read more

Book Description

What if every corporation in the world devoted one percent of its revenues, one percent of its employees' time, and one percent of its stock to the communities it serves? What would happen? It would change the world. This book suggests that such a radical change is possible, and lays out the blueprint to do so, with a radically new model in which companies leverage all of their assets-including employees, equity, products, and relationships-in order to provide real value to the communities in which they operate. Case studies look at how both large and small companies, have structured their philanthropy programs for maximum effectiveness and true integration. We see what works and what doesn't. Here is the essential guide for everyone, from the newly minted entrepreneur to the Fortune 500 CEO who wants to ensure that doing business goes hand in hand with doing good. ... Read more

Reviews (7)

PR Week Review
PR Week US

BOOK REVIEW - 'Compassionate' gives readers a lot
02.23.04

Andrew Gordon

A breath of fresh air amongst the many business books out there, Compassionate Capitalism is full of insight and trade secrets simply about building the bottom line. At a time when many corporations have cut back their philanthropy, Salesforce.com CEO Marc Benioff shows how giving back is always a good idea.

Benioff leads from example, demonstrating Salesforce's own philanthropic philosophy. He includes dozens of other examples from the likes of Hasbro, Timberland, and Cisco Systems.

While the book is repetitive at times, it ultimately proves insightful, using the examples to show how companies establish a culture of philanthropy, how they involve staff, how they reach out globally, and how they maintain their giving during tough times. Perhaps most importantly, the authors note that corporate philanthropy 'must be more than lip service or devotion to giving as a way to generate PR coverage.' The book is a nice reminder that shareholders are not the only ones who have a stake in a company's success.

Great examples for making your company a community asset
found Compassionate Capitalism to be an extraordinary collection of practical examples for companies who want to make a difference in the world.

As CEO of a small and growing business I plan to implement some of these ideas immediately - giving paid time off for my employees and putting aside some of our equity for future charitable growth as two examples. This book provides a blueprint for small and large companies alike to make more of an impact in the communities they operate in. I recommend it to any other CEO or professional that wants to 'step up' their level of giving.

great book
I really hope this kind of book published in my country, too. Only a few companies realize that they should do good things in a community. Rather, most of companies still pour their resources for doing well here in Japan. This book is great firstly because, it states that, no matter how large the company is, there should be a way to become a good citizen in a community. I am working in a company with 30 peoples, which is not so large. This book suggests that there is a business-philanthropy integrating model that my company can follow. Secondly because this book points out that a company has a power to change the society better. Most of us do not aware but a company has much more resources and opportunities than we imagine. This book describes how a company takes advantage of their resources to give back to a community. That is the new model of integrating business and philanthropy.

Inspirational yet still practical "how-to" guide
The book is clearly written and has well explained steps on how any corporation can integrate philanthropy into their corporate culture. The examples include both large and small businesses and the authors demonstrate that a company can do well both for their shareholders and community.

I work in Silicon Valley and this book will help me as I work to convince others that the start-ups we work in and back need the integrated philanthropy described in this book.

highly recommend
A terrific book with a relevant message to all of corporate America. This is a company who DOES IT and is leaving its mark on the San Francisco area and beyond. Kudos to Mr. Benioff, his model corporate Foundation, and his enthusiastic staff for giving the rest of us a model of corporate giving and employee commitment! ... Read more

Book Description

Over long, hard decades, American winemakers have won the respect of connoisseurs everywhere. Many of the world's most cherished, and expensive, wines come fro the United States.. But today, the unique and eccentric wine industry faces agrim set of challenges that could transform it forever: oversupply in the face of flat consumption, devastating vineyard diseases, an antiquated distribution system, fierce competition from abroad, attacks from anti-alcohol forces, and an inability to capitalize on wine's proven health benefits.

But for you, these woes cn be an opportunity, as wine journalist Lewis Perdue explains in this fascinating book. Clearly and crisply, forsaking the snobbish "winespeak" that helps keep wine mysterious and is itself one of the industry's problems. Perdue takes you behind the scenes to show you why a shakeout is imminent and unstoppable, and how you can benefit from understanding the situation-from drinking better wine less expensively to investing in a business where the perqs can be decanted from a bottle. Pullin no punches, naming names, this is an invaluable glimpse into a colorful, competitive, cantankerous world whose current troubles can actually add immeasurable pleasure to your life. ... Read more

Reviews (8)

More about wine politics than anything
I gave this to my boyfriend for Christmas since he and I are involved in the industry. Unless you are planning to really get involved in the industry, we wouldn't recommend this book. It is primarily about politics with the BATF and how the big guys (Gallo) shut the little guys out of the market.

If in the Wine Industry - Read this book
As the title indicates, if you are in the wine industry (at any point along the supply chain) or if you are considering entering the industry, read this book. If you are interested in learning how to taste wine, that is not the intent of this book. Lewis writes this book as an insider on the industry and from a consultant's perspective.

This book is a must read for anyone considering entering the wine business! Much of what Lewis writes could help fill out the majority of your business plan - from determining cash flows to gaining insight into the wine industry in general. Or at the least, you could use the book as a check on some of your assumptions.

If however, you simply want to learn how to taste & enjoy wine, you would do well to look for another book. His focus is purely from a business perspective.

informative & quick read
I picked this book up by chance in a Calistoga bookstore. After reading the book "napa" I've become very interested in the behind the scenes goings on in the wine industry. I found Purdue's book informative and enlightening. OK maybe I'd rather not know some of the stuff but I had already had my "shock" by reading Napa. I still love a weekend in wine country and the beauty and sereness of the place. Visiting the wineries and talking with the people will always be a fun thing to do. My enthusiasm for it has not dwindled, I am simply a more informed "wine enthusiast" and will never be a "wine snob". Reading this book has made me so much more comfortable with choosing the wines I like for according to what tastes good to me and not because of price or reviews.

Finally, An Informative, CONCISE Book on Wine!
Lewis Perdue publishes the Wine Investment News and is the founder of Wine Business Monthly and the Insider, the dominant wine trade publications in North America, and he appreciates wine. He KNOWS what he is writing about. Pay attention. This is, perhaps, the best book available for gaining an inside look at the wine industry, learning about wine, and how to start a wine cellar that you find in one concise volume. (There is much more, too; these are just a few of the topics he covers.)

There seems to be a mystique surrounding wine in this country. Perdue says, "the greatest barrier to increased wine consumption is wine's snobby image." And the wine industry seems to want to bolster this image. No wonder we Americans have developed a deep-seated prejudice about wine. You're supposed to have red wine with meat and white wine for fish and then there are dessert wines and apéritifs, etc., etc. He tells us to forget the rules; find the kinds of wine you like and enjoy them with what you like. It makes sense.

Want to know a secret? Read the chapter on counterfeit wines. Find out how genuine Champagne is made, the similarity of sparkling wines, and the great switheroo that fooled most of the world (except the French) . And if you want to find something "they" don't want you to know, read about to store and serve wine because the plastic membrane inside the box collapses as wine is dispensed, thus preventing the introduction of air which can oxidize and spoil the wine.

"While the wine box seems like the perfect container . . . in reality most of the boxes you see are adulterated with substantial quantities of added alcohol, water, citric acid, fruit juices, and other flavors and chemicals. . . [U]nder a strict interpretation of [Alcohol, Tobacco, and Firearms] rules, a box of the sort could contain as little as 38 percent wine." And you (and I) thought we were getting the real stuff!

The most useful information, for me, was finding out about the glut of wine on the market that resulted from the unusually productive grape harvest in 1997. This over supply has led to some fantastic bargains in wine that should last through the next two to three years! There are many remarkable wines available now for under $10 a bottle.

The fun part of the book tells how to go about deciding upon which wines you want to stock; have some friends over, each bringing a bottle to try, and make notes on which ones you like or dislike. Then go out and stock up on the ones you like.

To gain a good understanding of the wine industry and to learn about wine, this is the one book you should read today. REVIEW: Lewis Perdue publishes the Wine Investment News and is the founder of Wine Business Monthly and the Insider, the dominant wine trade publications in North America, and he appreciates wine. He KNOWS what he is writing about. Pay attention. This is, perhaps, the best book available for gaining an inside look at the wine industry, learning about wine, and how to start a wine cellar that you find in one concise volume. (There is much more, too; these are just a few of the topics he covers.)

There seems to be a mystique surrounding wine in this country. Perdue says, "the greatest barrier to increased wine consumption is wine's snobby image." And the wine industry seems to want to bolster this image. No wonder we Americans have developed a deep-seated prejudice about wine. You're supposed to have red wine with meat and white wine for fish and then there are dessert wines and apéritifs, etc., etc. He tells us to forget the rules; find the kinds of wine you like and enjoy them with what you like. It makes sense.

Want to know a secret? Read the chapter on counterfeit wines. Find out how genuine Champagne is made, the similarity of sparkling wines, and the great switcheroo that fooled most of the world (except the French) . And if you want to find something "they" don't want you to know, read about to store and serve wine because the plastic membrane inside the box collapses as wine is dispensed, thus preventing the introduction of air which can oxidize and spoil the wine.

"While the wine box seems like the perfect container . . . in reality most of the boxes you see are adulterated with substantial quantities of added alcohol, water, citric acid, fruit juices, and other flavors and chemicals. . . [U]nder a strict interpretation of [Alcohol, Tobacco, and Firearms] rules, a box of the sort could contain as little as 38 percent wine." And you (and I) thought we were getting the real stuff!

The most useful information, for me, was finding out about the glut of wine on the market that resulted from the unusually productive grape harvest in 1997. This over supply has led to some fantastic bargains in wine that should last through the next two to three years! There are many remarkable wines available now for under $10 a bottle.

The fun part of the book tells how to go about deciding upon which wines you want to stock; have some friends over, each bringing a bottle to try, and make notes on which ones you like or dislike. Then go out and stock up on the ones you like.

To gain a good understanding of the wine industry and to learn about wine, this is the one book you should read today. END

clever and very entertaining
I found this book to be very engrossing from the very first page! The author pulls no punches in stating his opinion and exposing the 'dirty little secrets' of some of the largest wime producers in California...a must read for anyone who enjoys wine or is interested in the wine business! ... Read more

Book Description

Model is the definitive story of the international modeling business -- and its evil twin: legalized flesh peddling. It's a tale of beautiful women empowered and subjugated, of vast sums of money, of sex and drugs, obsession, and tragic death. At its heart is the most unholy combination in commerce: beautiful, young women and rich, lascivious men.

Investigative journalist Michael Gross has interviewed modeling's pioneers, survivors, and hangers-on, telling the story of the greats: Lisa Fonssagrives; Anita Colby; Candy Jones; Dorian Leigh and her sister Suzy Parker; Jean Shrimpton and Twiggy; Veruschka and Lauren Hutton; Janice Dickinson and Patti Hansen; and the supermodel Trinity: Christy, Naomi, and Linda.

Taking us into the private studios and hidden villas where models play and are preyed upon, Gross tears down modeling's carefully constructed faÇade to reveal untold truths of the ugly trade in pretty women.

Reviews (8)

Excellent book for anybody interested in the subject
Heard and enjoyed the taped version of MODEL by Michael
Gross . . . its subtitle says it all: The ugly business of beautiful
women . . . methinks that this is an excellent book for anybody
thinking of entering the profession--or if you know somebody who
is . . . although the field may seem glamorous, in reality, it is
anything but that.

Though the book was non-fiction, it sounded like I was listening
to a novel . . . also, I liked hearing about the backgrounds of such
famous models as Twiggy and Cindy Crawford.

The edition I heard was from the mid-1990s . . . I understand
that a paperback edition in 2002 has since updated MODEL
and might be worth getting if you find the subject of interest.

Informative historic review of modeling
The strong points of this book become easily evident if even one only looks at the several-page-long bibliography. Mr. Gross has done a commendable job of research and has presented a voluminous material, including multiple interviews, pictures, etc. From a historical standpoint, there is probably no better book written on the modeling business (particularly in the US).( There is actually and afterward to the paperback edition, which brins some current news as of 2002.)

The weak points of the book are rooted in its failure to discuss what its title promises -- "business". Yes, there are salary numbers, but that is about where Mr. Gross stops. In describing the business he talks at length about modelling agencies, magazines and the like, only it happens in a somewhat gossipy style (describing personalities, political battles, etc.), while failing to provide any financial (or any other business) information so as to give the reader an idea of, for example, of how big this business is. As a result, after reading the book, one is short of truly understanding how the business really works, including the interaction of its multiple participants, such as publihhers, designers, etc.

Interesting read
This book does exactly what the title says, it reveals the ugly side of the modeling business. However, it is an older book so you won't hear any recent names. There is another book out there, "Shut up and Smile" that covers more recent models. But the writing from that book is no comparison to this one. This book is by someone that knows how to write and the stories are very in-depth which can only make the book better. The pictures are also better in this book.

Very informative book on the world of Supermodels/Modeling
This is very good book on the history of the Supermodels (Linda, Naomi, Christy, Cindy, etc). Also very informative on the modeling industry and the men that run it. If your daughter or son in pursuing modeling, read this book first.

Raji, please can I have your e-mail? I have a question!
Raji, I saw your posting under the reviews. I don't know any other way of communicating with you, so I hope this finds you. You were talking about how much these books help your knowledge in the fashion world. I have a few/many questions about your agency that you mentioned that you were going to open. Please, when and if you read this e-mail me! ktaylor41@hotmail.com ... Read more

Book Description

The importance of for-profit higher education becomes clear when one examines the state of higher education today. Traditional institutions are facing major pressures, including diminishing financial support, a call to serve adult learners, the need to balance applied and liberal arts curricula, and the need to maintain and evolve the institutional mission. Stakeholders are more numerous than ever before, and they are pulling institutions in different directions. Traditional higher education institutions are increasingly pressured to alter the their missions because diminished public funding has resulted in dependence on donors and corporations with varied interests. This strain is causing universities to behave in new ways. For-profit institutions provide a model of how to handle these challenges by their very structure--they are organized to operate professionally as a business and continually question and refine their organizational mission. They are constructed specifically to meet the needs of adult learners, and the core of their mission--to help adult and traditionally underserved students--is constant and clear. ... Read more

Book Description

Features eight handbooks, published previously by the Project Management Institute (PMI®), that have had significant impact on the project management profession and continue to have enduring value for today’s project manager. These handbooks are collected in this one economical volume thatbelongs on every project manager’s bookshelf. ... Read more

Reviews (4)

Required reading for the PMP? NOT! A must buy though ...
This book used to be on PMI's recommended reading list for PMP preparation (I am not sure if it still is). The book does not use any complicated terminology and is written using an easy to read writing style. But the concepts will be easier to understand when you become an experienced project manager. If you read it at the beginning of your career, I recommend that you keep this in mind and not be disappointed. Just hold on to the copy and you will appreciate it later when you have more overall knowledge of project management.

The book is literally a compilation of 8 of the best papers on project management ever published. Hence the papers can be read independently. If you are a student at some University, you should be able to trace the individual papers to their source in your University library and print them at a much lower cost than the price of this book. The price was the only disappointment for me and since I am not a student, I couldn't do what I suggested above.

The eight different topics addressed by these papers in the book are -

1. Conflict Management
2. Contract Administration
3. Negotiating
4. Time and Stress Management
5. Team Building
6. PM Roles and Responsibilities
7. Organizational Development Approach
8. Organizing for Project Management

Based on my own personal background, I found the first five topics noted above the most interesting and the topic on Time and Stress Management the most useful. A lot of people I have talked to have not really found the time to read this book before taking the PMP but I would recommend reading it thoroughly once you have passed the PMP. I am finding that this book provides a very useful way to consolidate one's PM knowledge. PMI publishes 'Project Management Journal' and 'PM Network' on a regular basis that are also absolutely essential for any project manager. I have actually kept these publications from years back and they are one of the most prized possessions of my PM library. Enjoy reading these papers and the above mentioned publications!

UNREADABLE
IF YOU ENJOY READING DOCTORAL DISSERTATIONS THEN BUY THIS BOOK.

The book is unreadable and there is no INDEX!

If you are trying to LEARN about Project Management then avoid this book like the plague.

Getting ready for the PMP?
Excellent reference if you are getting ready for the PMP exam. Use it to study for the HR material, the Communications material and the Contract and procurement material.

I use it in my PMP classes at Oak Associates, Inc. www.oakinc.com

Excellent introduction to PMI Principles
Organized around the 9 knowledge areas of PMI (Project Management Institute), this book provides both academic and pragmatic perspectives on key concepts related to managing projects. I would not recommend it for an advanced manager, but it does provide some great information for a reader who is interested in strengthening his/her basic skills, or potentially pursuing a PMP (Project Management Professional certification). It's a great first read as one enters into project management. ... Read more

Book Description

'An Introduction to the UK Hospitality Industry: a comparative approach' is a core text for introductory hospitality modules and courses. Unique in its structure; this text looks at key aspects and compares them with each sector of the industry to give students a broader and comprehensive view of the topic.

Key aspects of the industry are discussed, including the following areas:

* Management practices
* Work patterns and employment practices
* Industry and financial structures
* IT applications
* Customers and markets


Written in a user friendly style, the following features have been incorporated:

* Chapter objectives
* Case studies
* Review questions
* Chapter conclusions
* Further reading and bibliography.

Contributors to this text are amongst the most highly acclaimed in the hospitality field and bring with them a wealth of knowledge.

Written in a user friendly style; an introductory text ideal for first year students
Takes a comparative approach across all sectors of the industry, highlighting interelationships
Contributors are amongst the most highly acclaimed in this field ... Read more

Book Description

Praise for the First Edition:

"There is much to be applauded here...this is an engaging and thought provoking book which should be read by those interested in advertising and the changing nature of contemporary culture." - Contemporary Sociology

"The book is written in a very accessible style that would serve as a good point of entry for anyone interested in leisure, tourism, and cultural change in contemporary societies. The scope of Urry's book is breathtaking, one is left with a feeling of coming to terms with the complex set of social relations that are tourism, both in their production and consumption." - Planning Practice and Research

This is a fully revised edition of the groundbreaking study on tourism, which was originally published in 1990. The original chapters have been empirically updated and many new research findings incorporated and evaluated.

This Second Edition deepens our understanding of how the tourist gaze orders and regulates the relationship with the tourist environment, demarcating the "other" and identifying the "out-of-the-ordinary." It elucidates the relationship between tourism and embodiment and elaborates on the connections between mobility as a mark of modern and postmodern experience and the attraction of tourism as a lifestyle choice.

The result is a book that builds on the proven strengths of the First Edition and revitalizes the argument to address the needs of researchers and students in the new century.

 

Book Description

Steiner & Steiner, the leading Business & Society text, is about the interrelationships among business, government, and society and how they effect business managers. Managers steer companies through a world continuously altered by environmental forces that reshape the economic, cultural, political, technological and ecological terrain on which companies operate. Numerous stakeholders challenge traditional ideas about when corporations are being ethical and socially responsible. These two forces create a web of complex, challenging and threatening relationships for managers, both domestically and internationally. Four basic analytical approaches are presented as alternative ways of picturing the interrelationships: 1) Market Capitalism; 2) Dominance; 3) Dynamic Forces; 4) Stakeholder. The texts analytical models are as follows : 1) Focus on Strategic Management; 2) Interdisciplinary Approach with a Managerial Focus; 3) Comprehensive Scope; 4) Focus on Theory; 5) Historical Perspective; 6) Global Perspective.

Steiner and Steiner, one of the first books in this course area, has benefited greatly from the reputation of its authors. George Steiner, the father in this father-and-son team, is one of the pioneers in the field. The text includes coverage of all the distinct content areas and is one of the most complete on the market. The book is well researched and includes the latest thinking on the ethical implications of business in its relation to society. It uses case examples to illustrate the concepts and to show the application of theory to practice. ... Read more

Book Description

This book provides the first comprehensive account of the political power of Japanese farmers.It analyses their organisational and electoral bias, the role of agricultural interest groups, and the farm vote. ... Read more

Book Description

". . . competition, we see now, is destructive. It would be better if everyone would work together as a system, with the aim for everybody to win. What we need is cooperation and transformation to a new style of management."

In this book W. Edwards Deming details the system of transformation that underlies the 14 Points for Management presented in Out of the Crisis. The system of profound knowledge, as it is called, consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology. Describing prevailing management style as a prison, Deming shows how a style based on cooperation rather than competition can help people develop joy in work and learning at the same time that it brings about long-term success in the market. Indicative of Deming's philosophy is his advice to abolish performance reviews on the job and grades in school.

previously published by MIT-CAES ... Read more

Reviews (3)

Highly Recommended!
Critique W. Edwards Deming's work at your peril. After all, he probably set whatever standard you're using. This volume - revised by the author before his death in 1993 and partially based on his 1950s work with the Japanese - may strike the contemporary reader as a curious mixture of seminal process thinking and idiosyncratic ruminations on education. Portions read like an artifact of the early 1990s, but in this regard, however, his volume offers a unique perspective on a turning point in American economic history: the shift to the knowledge-based economy. We [...] recommend Deming's volume to any serious student of management thought, and all human resources professionals should familiarize themselves with his work, which set the foundations for many of the transformations now underway in the corporate world.

Straightforward, Realistic & Practical
I have recommended this book in my previous review of "Out of the Crisis" to managers who are new to Deming's ideas, being a manual that will be easier and more effective to comprehend and follow. At the final stages of his life, Deming (1900-1993) wrote this epilogue of his career with an honest attitude and sincerity that I, along with many of my colleagues, admire. The frankness of his opinions regarding the (lack of) essentially fundamental leadership traits in today's modern global societies, in all vital areas at all organisational strata, are both valid and brave; the information voiced is made possible only through his previous experiences and status in the field.

If all managerial leaders of this world were to listen, be able to understand and follow Deming's ideas and underlying philosophies, societies will be enhanced beyond recognition in many aspects.

However, if you are a lone crusader in your organisation or even country, then you are in for hell... but do hang on tight, as the world generally hates challenges in any forms and situations... Implementing Deming's philosophies (as with any corporate strategy) involves innovation by the introduction of new ideas into an organisation, which includes rearrangements from jobs and roles to structures and systems; which people generally hate. Even within the book, Deming had already highlighted the various problems to that, and had always emphasised on EDUCATION of the organisation, rather than decreed training to extinguish corporate flames, for he had said:

"Knowledge is theory. We should be thankful if action of management is based on theory. Knowledge has temporal spread. Information is not knowledge. The world is drowning in information but is slow in acquisition of knowledge. There is no substitute for knowledge."

- W. Edwards Deming 12th September 1993

This is my humble tribute to a great man.

An excellent book on systems and whole systems thinking.
This is the last book written by Dr. Deming before his death in 1993 at the age of 93. Dr. Deming is perhaps best known for the work he did in Japan at the end of World War II, and his famous 14 points. In this book Dr. Deming introduces his System of Profound Knowledge, which consists of: An understanding of Systems,A Theory of Knowledge, An understanding of Variation and Psychology Dr. Deming defines a system as: "A series of interdependent components that try to work together to achieve the aim of the system." The system must have an aim, without an aim there is not system. Dr. Deming explains variation as follows: All systems have some variation in them. The secret is to know what kind of variation is occuring and to respond accordingly. Common cause variation is the random variation tha occurs in any system. Special cause variation is a result of something outside the system acting on the system. An example would be that it normally takes you 25 minutes to drive to work, give or take a few minutes, but this morning, because of an accident the commute required 50 minutes. The normal drive time, with variation represents common cause variation, while the accident represents special cause variation. A theory of Knowledge is a way of doing experiments, or defining a mind set. According to Dr. Deming without theory no learning takes place. He give an example of a rooster that has a theory that he causes the sun to rise because he gets up early and crows. One morning he forgets to crow. The sun rises anyway. While the rooster's theory is blown out of the water he has learned that he is not responsible for causing the sun to rise and in the future he can sleep in. Dr. Deming's discussion on psychology has to do with the difference between intrinsic and extrinsic motivation. His basic theory is that people enter the world motivated to learn and do well and that the excessive use of extrinsic motivation kills the intrinsic motivation. In this book Dr. Deming also discusses in some detail his famous Red Beads Experiment which he uses to demonstrate the power of systems and how they victimize the people working in them. ... Read more

Book Description

In recent years the media have reported, frequently with alarm, on the increasing use of genetically modified crops in agriculture. Some groups have expressed concern about consumer safety and the risks of large-scale ecosystem damage. Others have noted the resulting shift of power away from locally controlled farming operations toward large agribusiness and biotech companies, and the particular vulnerability of farmers in the developing world to this trend.

In Seeds of Contention: World Hunger and the Global Controversy over GM Crops, development specialists Per Pinstrup-Andersen and Ebbe Schiøler focus attention on the less discussed issues ofthe potential benefits and costs of genetically modified crops for developing countries. Pinstrup-Andersen and Schiølerreview the basic issues and discuss the potential that such crops have for addressing the great needs of poor and undernourished peoples throughout the world. They explain how increased agricultural productivity is not enough in addressing the problem of famine. People in developing countries need crops that are disease-resistant, can fend off insect predators, and can withstand severe environmental conditions in order to produce larger crop yields.

Pinstrup-Andersen and Schiøler are sober in their assessment of these prospects, for they acknowledge that GM crops alone will not solve the world's food problem. They argue, however, that they may be one element in the solution and people in developing countries should have information about benefits and risks and the freedom to make their own decisions about whether or not to grow and consume GM crops. ... Read more

Book Description

In the annals of American business, Digital Equipment Corporation's case history ranks among the most interesting. Over its 40-year lifetime, it reached the Fortune 50, had sales of over $14 billion, and for a time was the number-two computer maker, behind only IBM. It also was a computing pioneer, creating a great many of the innovations we take for granted today. Yet it failed as a business and was ultimately sold to Compaq. In this book, DEC insiders analyze the culture of innovation that drove DEC to the top - how it was created, how it evolved, and why it ultimately collapsed. Author Edgar Schein's past and current consulting clients include Apple, Citibank, General Foods, Hewlett-Packard, and others. ... Read more

Reviews (5)

A provacative read
Many discussions and articles that chronicle the rise and fall of Digital simplify the failure to either "The president [Ken Olsen] blew it," or "They missed the PC revolution," or some combination of both. This book shows how the culture that so successfully nourished creativity and genius in the company's nascent days brought chaos, confusion, and internecine warfare in later days when the larger company faced a host of competitors and needed to efficiently produce commodity items. I think that the authors go a little too lightly on the role of (mis)management in Digital's failure, but they do a good job of bringing to light many other aspects of Digital's problematic history. The authors seem a bit full of themselves at times, but they have a compelling and sobering story to tell.

Helpful Assemblage of Facts about DEC as a Case History
Professor Schein has written a helpful case history of Digital Equipment Corporation as a computer industry innovator from the perspective of its organizational culture. He draws successfully on his own direct observations during decades of consulting work, and involves others for their experiences as well in describing the organizational culture. The most helpful parts are in the form of notes and comments that occurred during the rise and fall of DEC. His main weakness as an observer is that he lumps too much of what was missing from DEC under his continuing references to the "business gene." The case history, as a result, is too light on other aspects of DEC.

Anyone who is interested in Professor Clayton Christensen's work on sustaining innovation will find deeper insights into why cultures encourage innovation failure by emphasizing one way of working on issues.

If you just want to understand the lessons of why DEC was ultimately unsuccessful as an enterprise, you only need to read Gordon Bell's postscript in appendix e. Like every other computer company at the time, DEC and its leaders did not have an actionable understanding of the implications of the ongoing productivity advances in semiconductors and how nonengineers liked to interact with computers. Our firm did consulting for another computer maker in 1978 to look at how to outperform DEC, and the vulnerability to semiconductor trends was clear then . . . even before the personal computer became important.

The book fails to explain why DEC was so insulated from profit disciplines that drive so many other companies. During its heyday, DEC and its fellow computer makers enjoyed exceptionally high rates of repeat sales (well over 90%) to the same customers. The reason: Software written for one company's machine often wouldn't work on another company's machine. So customers were stuck. It cost too much and took too much time to rewrite all that code. So you would stay with a vendor who was no longer competent for quite a long time. The challenge in the closed systems world was to sell the first machine to a customer, and make it work. In the open systems environment, you have to compete for repeat sales. For DEC, that was like AT&T having to compete with other long-distance carriers after having had a monopoly for all of those years. Ultimate failure should not have been surprising.

Rather than learning more about DEC, I would suggest that you focus on studying current computing industry technology leaders who have been consistently able to adjust their business models such as Dell, Business Objects, Cisco, QLogic and EMC. They have processes in place that DEC never had, and it's hard to learn to succeed by looking at a company that lacked such a key process. Clearly, the lesson of DEC is that working on organizational development in a technology company without creating an ability to perform continuing business model innovation is a waste of time.

As I finished the book, I realized that those who are hoping that boards will use better governance to ensure that high technology companies prosper are being way too optimistic. Few boards can hope to know enough to even understand whether or not the company is working on the right questions.

The lasting lesson of DEC
MIT Sloan School of Management Professor Edgar Schein does a marvelous job telling the story of the rise and fall of Digital Equipment Corporation, the former #2 computer maker in the world behind IBM. The business reasons behind DEC's economic failure have been widely reported (missing the advent of the PC, having too many projects going at once, failure to market products effectively, etc.) However, the big question to be answered is why did these failures occur? To quote one passage, "Why did an organization that was wildly successful for thirty-five years, filled with intelligent, articulate powerful engineers and managers, fail to act effectively to deal with problems that were highly visible to everyone, both inside and outside the organization?"

Schein looks at DEC's failure through the lens of its corporate culture, and how it prohibited their executives from making the decisions, and taking the actions necessary to survive. Fans of Ed Schein will know his famous "Three Cultures of Management" paper, in which he describes the "Executive", "Line Manager" and "Engineering" cultures, all of which must exist and be balanced against one another for an organization to survive. Schein argues that DEC was dominated by the engineering culture, which valued innovation and "elegant" design, over profits and operational efficiency. This engineering culture dominated even the top levels of DEC, where proposals to build PCs out of off the shelf parts that were readily available in the marketplace, were shot down because the machines were thought to be junk compared to the ones DEC could build themselves.

That DEC was able to survive for as long as it did was largely attributable to its ability to innovate in a field that was so new it had not yet coalesced around certain standard systems, software and networks. However, as the computer industry became in effect a commodity market, and the buyers began to value price over innovation, DEC found itself increasingly unable, and in fact, unwilling to compete. The engineering culture which valued innovation and required creative freedom, did not want to subject itself to the requirements of being a commodity player which demanded autocratic operational efficiency and control over how resources were allocated.

Although DEC is now long gone, even readers who were too young to use computers at the time of its demise will find familiar truths in this book. As the old saying goes, the fish in the tank does not see the water it is in. Neither do we often see the cultures in which we are ourselves embedded. The real lesson of this wonderful book is to show us how our corporate cultures often prohibit us from doing the right things, even when we can see them clearly. Sometimes culture is most easily visible in the things you need to discuss, but that are simply "not on the table" for discussion.

There are many lessons here too, for companies that seek to innovate new products and services, and how to balance the creative freedom desired by the engineering culture with the "money gene" culture of sound executive management. The names of companies that have failed to realize the full financial benefits of their technical innovations is too long to list here. But the DEC story is a must read for anyone who seeks to balance innovation with sustainable economic success in any organization.

Outstanding work!
I am not certain as to how much of the previous reviewer's comments could be ascribed to a personal disagreement with Dr. Schein's book, but I found it to be a well-researched and soundly presented piece of writing documenting the rise and fall of one of the greatest innovators in the technology industry. In much of this research, the author has had to gain insights from others associated with DEC, and as such, views differ. In almost all of the cases, the author has clearly indicated that what he is presenting are the thoughts and experiences of others (in tandem with his own sentiments from his tenure at DEC). As such, viewpoints will always differ. In my opinion, this is a solid piece of writing that is insightful, thorough, and very well researched - and a damned fine read.

Missed the Mark
I may be a be prejudiced since Mr. Schein agreed to collaborate with me on this book (I was to write the technology section, which he apparently dropped) and then went back on his agreement when he ceased communicating with me after I did my part. That said, the coverage of the cultural aspects of DEC is reasonably good, but the authors miss the point entirely that DEC was merely a culture. Management malfeasance, technological gaffes, horrid marketing, and a centralization of power that defied the so-called "management martix" were equally responsible for the DECline. And have have two decades of journalistic, consulting, and analyst experience to back this up.

Still interested? Wait for the paperback, borrow a copy, or get it used! ... Read more

Book Description

Real-world advice for determining the most advantageous structure in a merger, acquisition, or buyout

The actual structuring of a merger or acquisition is key to the success of the entire procedure. The Art of M&A Structuring explores ways to approach a deal as an investment and satisfy the often conflicting financial and operational goals of all parties, from buyers and sellers to investors and lenders. Written in the trademark Q&A style that made The Art of M&A a landmark business bestseller, this book is filled with real-world examples and cases. Decision makers in any organization will quickly find the M&A information and insights they need, including:

• Up-to-date GAAP and tax considerations
• Advantages and disadvantages of spin-offs and spin-outs
• Special considerations for off-balance-sheet transactions

Book Description

Technical innovation has moved to center stage in contemporary debates on economic theory and policy, and Chris Freeman and Luc Soete have played a prominent part in these debates. For this new edition of The Economics of Industrial Innovation, they have rewritten all the existing chapters and added ten new ones that address recent advances in theory and in policymaking. In the new chapters they deal with the international dimensions of technical change including underdevelopment, technology transfer, international trade, and globalization. They have also strengthened the historical account of the rise of new technologies, a main feature of earlier editions. They take advantage of their experience on projects for the OECD, the European Union, and industry in other new chapters on "The Information Society" and on environmental issues, as well as in the updated discussion of science and technology policy. ... Read more

Amazon.com

A nauseatingly honest and therefore controversial expose of the base beings that inhabit the higher levels of the music industry. Filled with horror stories that will confirm your worst suspicions about the toxicity of what my friends and I call "Planet CD Wood." ... Read more

Reviews (19)

Fun Journalisitic Romp Through The Music Industry
Frederic Dannen's book, Hit Men, will be fun for anyone interested in business or crime, or those who do not believe that much difference exists between the two at the best of times. The book concentrates on the seventies and eighties in the music industry, after a too-short introduction to place the events in an historical context. It focuses on certain individual and specific companies in its anecdotes as it traces their rise and fall. The author is not providing a history of the industry. Instead he is offering a freak show of its most colourful characters. The book pulls few punches as it explores this twisted business. Above all, it is a fun read for any reader, even those not interested in the music industry.

Great fun
Not only is this a really fun read, but its a great history of the music business. Anyone looking to get into the industry should read this and Passmans book before they do anything else. This gives you a feel for all the players and how the game is played.

HIT BY THE TRUTH
As an experienced music industry professional with over 15 years of experience, I can tell you that this is the unofficial history book of the music industry that can be used to expose and introduce the truth about the origins and operations of the music business.

It's insightful, relevant, and shocking.

Buy it today.

Good
Well written and researched, but frankly, why write about men who weren't executives for the best and phenomenons?! It's my own personal bias, but I was let down there's nothing about the Beatles in here, a few pages about the Stones, nothing about the Doors. Even Michael Jackson and Elvis. I happened to eat at Le Bernardin near Clive Davis last year, and that was enough for me to want to read the Davis bits (my fellow dinner guest is kind of a rotten egomaniac, it turns out. Ahh, the double-edged sword of fame!) But even so, I'm disappointed at who and what companies the author chose to profile. But you may not be.

Terrific reading as both information and entertainment.
A frightening and enthralling look at the history of the modern music business. Dannen creates a mosaic of life in the industry by tracing the histories and careers of some of its most colorful characters. He looks at the rise and fall of Walter Yetnikoff, the education of Dick Asher, David Geffen's success with Asylum Records-- to name just a few of the people and issues _Hit Men_ tackles.

This is really a warts and all treatment with wickedly funny asides and adult language quotations from the people involved. It made me laugh out loud on more than one occasion and I still came away feeling as though I understood a whole lot more about how this industry really functions.

High Recommend. ... Read more

Book Description

Consumer electronics and computers redefined life and work in the twentieth century. In Inventing the Electronic Century, Pulitzer Prize-winning business historian Alfred D. Chandler, Jr. traces their origins and worldwide development. From electronics prime mover RCA in the 1920s to Sony and Matsushita's dramatic rise in the 1970s; from IBM's dominance in computer technology in the 1950s to Microsoft's stunning example of the creation of competitive advantage, this masterful analysis is essential reading for every manager and student of technology. ... Read more

Reviews (1)

The brilliant strategy of the Japanese Companies...
Alfred Chandler has organized the factual information of the key companies in the Consumer Electronics and Computer Industries during the second half of the XX century. The title of my review is a suggestion of another apropriate subtitle of this book.

The subject is very complex, specially if we look at the technology involved. My major comment is: the author has a limited technical knowledge and this has limited the depth of his analyses, comments and conclusions. This does not invalidate the major conclusions that he has presented in this book.

I think that it would be interesting to expand the story told in this book by studying/describing the evolution of the whole envinronment around these industries, including the engineering schools and research institutes that supply the brains to develop all the technology involved.

The history of the electronics industry carry an important lesson, about concentration of skills and economic power in only one company (RCA). It was a good thing, while RCA was leading, but when it started to make major strategic mistakes it brought down the whole American Industry. The Japanese Industry used several companies to compete against American and European Companies, this created a whole envinronment, that included engineering schools, research facilities, several different companies where one could make a career and different ideas being tested and pursued at the same time. When you look at the capacity of inovation and development of new technologies of the japanese companies and their envinronment they were a lot more competitive. They created a competitive envinronment so agressive in Japan that western rivals were later decimated by them.

The lesson hidden in the history of the electronics industry is very important, when we look at the industrial policy in America in other industries, like Automobiles, where there is only two American Manufacturers, it is easy to see why Japanese companies are doing much better, they are following the same type of competitive organization in this industry... Ford and GM are going in the same direction of RCA... This will raise a very important question, in what industries does America plans to remain competitive in the future??? This will determine the long term stability of the American Democracy.

One may criticize the quality of this book, but the history told in this book should be understood and deserves attention.

One aspect related to the industries studied that should be brought to attention is the availability of information about the japanese industry due to the language barrier.

... Read more

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