Book Description

The first and only guide to using MVT as a breakthrough management tool

MVT(TM) (Multivariable Testing) has been heralded as a breakthrough business tool in major publications such as Forbes, the Wall Street Journal, The Economist, and Business-Week. Although MVT could become one of the most widely used management tools and has been applied by leading companies in every industry to create billions of dollars of value-no book on it has been published, until now.

In Breakthrough Business Results with MVT, MVT creator and guru Charles Holland shows managers how multivariable testing-an advanced mathematical method that allows simultaneous testing of up to 40 variables-can dramatically improve efficiency and profits in any organization. MVT reveals to managers precisely which factors have a positive impact on any important business decision or process, which have a negative impact, and which have no impact at all. Very often the results are radically counterintuitive. MVT identifies quickly the best ways for a company to make major improvements, such as boosting sales, reducing waste, increasing production, enhancing advertising strategies, or optimizing service levels. Faster and cheaper than other quality improvement methodologies such as Six Sigma, MVT is a natural tool for any organization that wants to reduce the amount of guesswork and politics when making crucial business decisions. In Breakthrough Business Results with MVT, Holland reveals the dramatic benefits that have made true believers of top executives in such companies as Lowe's, Ameritech, Williams-Sonoma, DuPont, Pacific Bell, and Boise, among others.

Charles Holland, PhD (Knoxville, TN), is principal and founder of QualPro, Inc., the leading MVT consultancy in the world. QualPro's work has been celebrated in most major business publications, and they have consulted to senior executives at many Fortune 500 companies. QualPro regularly conducts seminars on MVT, and their work has been widely publicized. *MVT is a trademark of QualPro, Inc. ... Read more

Reviews (18)

Unequalled Method for Accelerating Learning
There are no "magic bullets" for improving business processes, but this is the next best thing. While these kind of statistical designs have been around for more than fifty years, QualPro is the only company to figure out how to successfully apply them to a wide range of business processes.

The return on investment for the cases in this book are staggering, as is the variety of processes to which the methods have been successfully applied. MVT isn't appropriate for every situation, but if a business process has 1) a measurable outcome, 2) variety of ideas test (and there's almost no limit to the number of ideas that can be tested simultaneously), and 3) the discipline to ensure that the design is executed properly, MVT can't fail. It's based on solid mathematics instead of the usual consultant "theory of the month."

If your company is implementing Six-Sigma or some other process-improvement methodology, you owe it to yourself to read this book and learn how to achieve better, faster results.

Good primer, but useful only for large companies
The skinny: Using Multivariable Testing can take the guess work out of what ideas or combination of ideas will have the greatest impact.Basically, describing an econometric approach to evaluating ideas or somewhat like applying Sabermetrics to business.

Pros: The book is a very good introduction to MVT and the process used by QualPro Consulting.Makes a compelling case for the need to test ideas in combination to achieve true synergy and to rely on empirical evidence versus conventional wisdom which is sometimes wrong.I also liked the case the author makes for using practical, fast and no cost ideas because those ideas used in the right combination tend to be more effective than those requiring an investment in capital.Finally, the book gives a good contrast of MVT versus Six Sigma.

Cons: While the book has an easy to read style, it also reads like a brochure for QualPro's services and gets annoying after awhile.That is also the "catch" to using MVT.According to the book, you need a QualPro trained consultant to facilitate the process because of the advanced statistics involved.So using MVT is not cost-free in that you need to hire a consultant for implementation or make a sizable investment in training and time to bring this expertise into your organization.Therefore, MVT as described by this book is useful only to those organizations that have the resources to hire a MVT consultant.This would potentially exclude small companies or distressed companies that could really make use of MVT, though I personally believe that MVT can be used without relying on QualPro or another consultant.

Bottomline: If used only as a primer, this is a good book on MVT.As a guide, it will only be useful for larger organizations.

EPC-Review for MVT
This book took on special interest as my company was involved with Qual-PRO and more specifically multi-variable testing for over one year. I particularly liked the format of the book with a very explanatory review of the process and concise and meaningful case studies that, from my perspective and personal experience, were accurate. Actually, I wish the book had been written before our engagement as it would have been an excellent primer for what was going to happen. The involvement of their team members was amazing and the intergration with our internal staff was both productive and motivational. It is uncanny as to how our results matched their years of working with other companies in other industries. It absolutely changed the way we approach business opportunities/problems today.

Breakthrough Business Results with MVT
Great book. The MVT process is a blend of time honored common sense (the 7 steps)and pragmatic, cold blooded statistical analysis. It spits out answers quickly to problems that seem unsolvable. I loved the stories of how the method worked in specific companies. The thing that seems to seperate these guys from other "quality improvement" companies is they fix a problem where others seem to be trying to train you into quality. I highly recommend it.

A scientific approach to help tackle difficult challenges
The plethora of quality fads that suddenly erupted twenty years ago saw U.S. corporate interest in managing improvement flare and then fizzle. Company after company realized that there was little substance in the low wattage methods that characterized that era.Many of us felt then that there must be somewhere a more scientific approach to help tackle difficult challenges than "form a team, flowchart and fishbone".

Chuck Holland, it is now clear, knew the answer all along and has recently documented it in his new book on MVT.

The testing of practical, fast, and cost free ideas, in large screening tests that are then followed by refining tests, makes enormous sense!

The impressive success stories, from a wide variety of applications, underscore the fact that scientific testing methods can improve any process. ... Read more

Amazon.com

Chris Roush nails down Home Depot in this unauthorized portrayal of the retailing titan. Inside Home Depot shows how cofounders Bernie Marcus and Arthur Blank over the past 20 years built their business from two stores in Atlanta into 650 outlets--the world's largest home-improvement retail chain. Roush, a veteran business reporter, finds that much of Home Depot's astonishing financial success comes from its strong "bleeding orange" culture. Home Depot fosters loyalty among workers with the best pay in the industry, generous stock-purchase plans, and first-rate training in home improvement and customer service. Incredibly enough, Blank, the company's chief executive, still spends a third of his time personally training employees--unthinkable for any other CEO of a multibillion-dollar company. Roush also examines plenty of defects. Home Depot was so macho that it could be a house of horrors early on for its women employees: the company paid $104.5 million to settle sexual-discrimination lawsuits.

The author points out that the company's hegemony is threatened by competitors like Lowe's and community activists who fear that Home Depot means suburban sprawl and schlock. Nevertheless, Roush predicts that Big Orange, which is experimenting with new home-design and rural stores, will become even more ubiquitous in the future:

Home Depot has only just begun to build itself into a retail power. With each customer that enters its orange-colored doors and walks its vast aisles, buying do-it-yourself items to repair roofs and fix leaky faucets, Home Depot hammers away.

Reviews (5)

what a joke
This is obviously just the work of a home depot corporate hack. Home despot has a reputation for one thing: lousy, rude, and insulting service. While contractors can deal with this, the home consumer always leaves Home despot frustrated and unhappy.

I'm sure Enron executives could write books on how ethical, enlightened and customer friendly Enron is, too. That doesn't mean anyone should waste a nickel or a minute reading them.

A good behind-the-scenes objective take on HD
Although I'm not an HD fanatic or investor, I found this book a good account of what makes this company tick. Given that it was done without the founders' cooperation, that is an even more amazing feat. I disagree that the book reads poorly; on the contrary, I found it an quick read, well organized and on point. Highly recommended.

Okay as a rough draft, but needs a lot more work.
This is a reasonably good book but sort of skirts around the Big Point in the Home Depot story. The Big Point is not that HD 'revolutionized an industry', but rather that it is one of the chief players in the creation and growth of that industry. The do-it-yourself phenomenon is nothing new in the world. Farmers and homeowners and small businesses have been expanding their buildings and fixing their plumbing for centuries. What Home Depot and its imitators have done is to institutionalize the servicing of the do-it-yourself class and in so doing, enabled it to grow exponentially. Do-it-yourselfing was not an industry 30 years ago. It was just something ambitious or cash-strapped people did because they couldn't afford to hire the companies who did that sort of work. It was hard because they had to pay retail and they had to go to twenty different retailers to get supplies. When Home Depot put everything under one roof and gave everything the lowest possible price, the floodgates were opened and all the pent-up demand fueled the Depot's stunning rise.

Chris Roush has all the facts essentially right, but his writing is deficient. The subtitle claims HD 'revolutionized an industry through the relentless pursuit of growth'. But then, what company does not relentlessly pursue growth? Does the CEO of Sears tell his managers, 'Okay, people, we've had a pretty good quarter so far, so we don't have to try to grow any more for awhile.' No. Every company relentlessly pursues growth. That's what it means to be a company in business to make money. What separates HD from the Sears-Roebucks of this world is the growth strategy in general, and pricing strategy in particular. Sears puts on their products the highest price possible short of making customers walk out of the store in outrage. Home Depot sets its prices at the lowest possible point where they can still make a profit. What separate HD from retailers like K-Mart is quality. You can find low prices in a K-Mart, but all too often you find out a week or a month later why the prices were cheap: the merchandise was cheap. Home Depot sells top quality stuff as cheaply as they can while still making a profit.

Roush goes on and on about HD's customer service, but really doesn't come right out and say what is meant by customer service. Is it having a clerk hovering over you every moment like in the department stores of old? Is it having a fawning senior citizen foisting microwaveable tidbits on you like in a Safeway or greeting you at the entrance to a WalMart? No, Home Depot customer service is something useful. It's having someone with a brain within shouting distance at all times, someone in lumber who knows the difference between MDF and CDX, someone in tools who knows a collet from a mandrel. You might have to get them off a forklift or off their cell phone, but when you do, odds are they'll know what they are talking about and where it is. Just the other day I asked a woman where to find dielectric unions. She told me, without hesitation, 'Aisle 5, on the left, halfway to the back'. And that's exactly where they were. I've had that same experience many times in Home Depot. But that's not the way it works in Builder's Square or Home Base.

To make this a better book in future editions, Roush ought to get a firmer grasp of who his readership is. Who the hell wants to read 'Management Lessons' at the end of every chapter? Is this a textbook or a real book? Why not let Cliff Notes do a simplistic summary in a separate volume? Is this a work of history or an infomercial? If it's the former, then drop cheerleader chapter titles like 'Customer Service is Job No. 1'. Find an editor who can weed out all the flabby writing. Someone, for instance, should have told Roush that he used the meaningless filler phrase 'to be sure' over a dozen times. Someone should have pointed out shoddy sentences like this one on page 192: 'In Europe, Inglis received a green light in 1994 to enter Europe'.

Maybe Roush, with his on-again/off-again journalistic objectivity, can't always to distinguish right from wrong or good from bad. He doles out a lot of treacle about Home Depot's owners helping the victims of the Oklahoma bombing, and trying to forge peace in the Middle East, and being good corporate citizens in a variety of ways-- then writes the following sentence about a government that publicly murdered thousands of its own citizens in 1989 and keeps millions more in concentration camps to this day: 'Having the Chinese government as a partner was also appealing' (p.201). I would guess that a capitalist like Marcus or Blank would find a partner like the government of China about as appealing as genital herpes, and that's why there are no Home Depots in China. Of course, maybe that will change. Lots of American companies did good business in Iran in the Seventies and Germany in the Thirties.

Blatant pandering to the folks at Home Depot
Mr. Roush's "uncensored" book might as well have been written by Mr.'s Marcus and Blank, the founders of Home Depot. Uncensored and unbiased books do not have a segment at the end of each chapter that recaps how Home Depot is an example for all of us.

Granted, Home Depot has been successful, but this is a 266 page advertisement.

It is obvious that Mr. Roush's journalistic judgment is clouded when he addresses the allegations of discrimination against women and when he discusses how Home Depot rolls into a small community and puts small Mom and Pop operations out of business.

He had the opportunity to critically analyze Home Depots "good ole boy" network - and he didn't. And, when he's done, he all but says that the small hardware store owner deserves to be put out of business.

Save yourself the cost of this book. The Sunday paper Home Depot advertisements are just as insightful and unbiased - and are a lot cheaper.

Fascinating, uncensored look at Home Depot
First-time author and Pulitzer Prize-nominated journalist Chris Roush of Bloomberg News in Atlanta writes of how one company revolutionized an industry through the relentless pursuit of growth. "Inside Home Depot" is an unauthorized, behind-the-scenes look at the most successful retailer to come along since Wal-Mart. A Wal-Mart executive even admits in Roush's book that "Home Depot is the best-managed retail company in America, ours included." The company's founder, Arthur Blank and Bernie Marcus, say that values like respect among all people, excellent customer service, and giving back to the community have made Home Depot successful. With nearly $90 billion in sales in 1998, Home Depot has become one of the world's biggest retailers in less than 20 years by focusing on customer service, treating employees like family, and relentless pursuit of growth. I learned everything I ever wanted to know about Home Depot -- and more. Roush takes the reader through Home Depot's "boot camp" training class for new employees. Instead of greeting customers with "Hi, how are you doing?" they are told to meet customers with the greeting of "What are you building today?" The book makes interesting reading for the Home Depot shooper who is awed by the success of this innovative store. And for up-and-coming businesses, there are lessons for success that can be learned from the Home Depot example. Home Depot author Chris Roush became an expert on the inside operations of Home Depot while a reporter for The Atlanta Journal-Constitution where he also covered Coca-Cola and Home Depot, as well as the entire retail industry. In 1993, his reporting on consumer issues won him a Pulitzer Prize nomination while he was at The Tampa Tribune. He was nominated for the Livingston Award by The Atlanta Journal-Constitution for his reporting on the business scene. Roush also worked for Business Week and The Sarasota Herald-Tribune. -- Ed Williams Department of Journalism Auburn University Auburn, Ala. ... Read more

Book Description

When John Kay's Foundations of Corporate Success first appeared in the U.K., it commanded the attention of the corporate world--and drew widespread praise.The Financial Times hailed it as "a powerfully argued book, which casts a fresh light on a range of practical business challenges."And Business Age wrote, "You must read John Kay's new book Foundations of Corporate Success.Kay is currently the best management theorist in Britain, bar none....He is a rare find."

Now Oxford University Press is publishing an American edition of this landmark book.In this freshly revised volume, Kay applies his groundbreaking theories to the U.S. experience, illustrating them with examples of success and failure in the American market.For too long, he writes, managers have chased after the latest fad in business planning and strategy, beguiled by military analogies and the demand for overarching vision.Success, he believes, should not be measured by organizational size or market share, but by the value added--the amount that output exceeds the input of raw materials, payroll, and capital. Corporate strategy should be aimed at this basic goal, beginning with the question, "How can we be different?"Kay identifies four key ingredients: innovation, reputation (especially in the form of brands), strategic assets (government mandated monopolies or other measures which restrict market access by competitors), and architecture (the relationships between a company and its employees, suppliers, and customers).Success comes not when managers drive through a towering vision of the company's destiny, but when they act on their organization's specific capabilities and advantages--especially in the key area of architecture.Honda, he notes, captured a third of the American motorcycle market within five years.No vision was required for this success, he writes: Honda simply did what it did best (making a simple, inexpensive product), followed by careful attention to the architecture of its business ties to distributors, customers, etc.He ranges through industries from airlines to retail clothing, pointing out the the reasons for successes and failures.Kay also draws on game theory to underscore the importance of stable, long-term relationships.

Other writers have hit upon some of these points, the Financial Times noted: "But none has explored them as thoroughly as Kay, who succeeds in marrying an authoritative grasp of economic, legal, and sociological theory with an impressively detailed knowledge of contemporary business practice."This volume transforms Kay's theoretical and practical knowledge into a powerful tool for today's American business manager. ... Read more

Reviews (2)

A Solid Effort!
Using the approach of an economics business model, John Kay defines the major characteristics firms have used to succeed where others fail. To get on the right side of that fence, he says, work your corporate strengths. Kay maintains that success hinges on distinctive abilities a firm can muster to add value for its particular customers. These unique traits include skills, reputation, and relationships. While the book (and the reader) may choke a bit on the academic charts and examples, real meat is hidden here. On the plus side, Kay writes in a fairly clear, spare style that makes complex ideas easy to follow. On the minus side, he repeats the same basic principles and ideas. While executives might glean some real support for developing their companies' strengths, we [...] recommend his book primarily to business school academics and to those top-level managers interested in studying and applying theoretical models.

How would he know?
After the spectacular collapse of the firm he founded London Econmics??? ... Read more

Book Description

THE CONSUMMATE DEAL MAKER

THE ULTIMATE DEAL

"Sandy Weill is probably the best deal maker on the planet. He is truly one of the leading business titans of our times."
–Maria Bartiromo

"Sandy’s record speaks for itself. I can only dream of where Bear Stearns would be if he had stayed with us."
–Ace Greenberg
Chairman to the Executive Committee, Bear Stearns

"King of Capital is about the extraordinary achievement of a man who climbed the highest pinnacles of the world of finance. Sandy Weill recognized early the transformation that was taking place in the financial markets and was able to capture many of the opportunities in them. This book is deftly written and provides many insights into today’s financial markets."
–Henry Kaufman
President, Henry Kaufman & Company, Inc.
author of On Money and Markets: A Wall Street Memoir ... Read more

Reviews (11)

An Eye-0pening Book
"King of Capital" is a must read for every investor who wants to learn more about how to be "Wall Street Smart," and how to chose effectively and honestly managed companies. Sandy Weill's clear vision, while not always apparent to those who work with him, becomes very apparent to the readers of this intriguing, reader friendly, and well-researched book by Stone and Brewster. Sandy is smart, competitive, and clean. How he became "King of Captial" should inspire future corporate leaders as they embark on their journeys which will be under closer scrutiny than ever before. However, even if you are not an investor or future CEO, this timely book is packed full of so much information about the deal makers of past few decades, that it makes for thoroughly enjoyable reading for those who desire just to be informed.

Sandy Weill: Rockin & Rollin on Wall Street
This book captures the very essence of the famous (and infamous)king of Wall Street..Sandy Weill. From his humble beginnings to his staggering success in the world of business and finance, this book leaves no stone unturned in detailing fascinating facts and trivia on both his personal and professional life.

This is a must read for any Sandy Weill fan, businessmen and businesswomen alike, or simply a CEO star in the making.

Fascinating...once you pick this book up, you won't be able to put it down!

Dealmaker
Sandy Weill's story make for a good read. The dealmaker produced much larger, much more efficient and profitable business by successfully merging with one new company after another - all the while swallowing a company larger than his current. After leaving American Express, many would have though his CEO days were over. The story of the building of Citigroup is fascinating. By beginning with a troubled company, he turned it around and began the acquisition game again. When Travellers and Citicorp merged to form Citigroup it was a personal triumph for Sandy. The story in the book ends with Sansy still in charge at Citigroup and leaves the readear wondering the future hold for boy Weill and his company. Those stockholders who tagged along for the ride with Mr. Weill were very well rewarded.

Weill rules!
From his humble beginning, Weill has done everything from a runner to a billionaire! Winning the power struggle against Robinson, Dimon, and Reed, makes Weill the king.

Now that the US Justice Dept is examining the roles that Citigroup played in Enron, Worldcom and other collapsing companies, the story is not over yet.

It is a must read for any CEO!

inspirational story
I can't believe I haven't seen more reviews or information about this book. It is so easy to read and so packed with interesting business anecdotes about Sandy Weill. These reporters did a great job and offer a lot of insight about Weill. This is one of the better books (especially for a business book) that I've ever read. ... Read more

Book Description

The Lowdown on the Hottest Trends in Corporate Goverance—A Complete Blueprint for Tomorrow’s Corporate Board Member Regulations, economics, shareholders, court battles—these factors have transformed the corporate board into a powerful, independent force in business. Now boardroom expert Ralph Ward deconstructs the "how and why" of this remarkable phenomenon, and offers a comprehensive, trenchant analysis of the tough issues which the 21st Century Corporate Board will bring to the table. You’ll find in-depth coverage of all of the leading topics in board makeup, pay, training, operations, and organization, including:

• How the "new directors" will change the corporate equation—women, inorities, entrepreneurs, executives below the CEO level, and others
• The move toward increased professionalism, including director certification, accountability, and more
• The hidden minefield of stakeholder concerns, from employees to local communities
• The pros and cons of paying corporate directors in stock—do we really want directors who are major shareholders?
• Future regulations from the SEC, IRS, and major stock exchanges—gearing up for compliance
• The growing power of board committees, and what this means for the board as a whole
• The coming struggle among shareholder groups to set the board agenda
• The new corporate balancing act for directors—independent, but involved; powerful, but responsive; focusing on the short term, but keeping a long-term view ... Read more

  Reviews (4)

  How to Build Better Boards
  ...

  How to Build Better Boards

  "The Family Circus", Bil Keane's winsome cartoon strip, focuses on the daily ups and downs of life in the often chaotic home of a young family.

  Regular readers of the strip have learned that in addition to mother, father, four young children, and three pets, there are two other residents in the household who make regular, if furtive, appearances. Whenever the mother finds a broken dish, a piece missing from a birthday cake, or muddy footprints tracked through the house, we know that the ghostly characters "Ida Know" and "Not Me" are lurking nearby. All the mother has to do whenever she finds something broken, missing, or in disarray is confront her youngsters with the question, "Who is responsible for this?" to elicit the collective response, "Ida Know!" or "Not Me!"

  These two troublemakers have apparently expanded their families and sent their children off to inhabit the most senior executive offices of many of the world's best known corporations. Their names are on the tongues of virtually every executive who has had to explain why his or her corporation has collapsed. Listen to the CEOs of Enron, Polaroid, Global Crossing, Warnaco, or Arthur Andersen, for example. The top executives of each of these companies have assured us that they themselves had nothing to do with the collapse of their companies, putting the blame squarely on "Ida Know" and "Not Me" in virtually every case.

  Exasperated shareholders wonder whom ultimately to hold responsible for the collapse of these companies and their investments. Ever so slowly, the glare of the lights is shifting to the boards of directors, as questions are raised about board accountability and responsibility. The boards of these companies all seemed to have been napping as they waited for their options to vest.

  For all the time, energy, and resources organizations put into training executives, it appears that they put considerably less into training directors and helping them to understand their responsibilities. Type the words "board of directors" or "corporate governance" into the search engine at Amazon.com and you will see a fraction of the number of books that you would find had you typed the word "leadership."

  Among the books that stand out are two by Ralph D. Ward: The 21st Century Corporate Board and its follow-up, Improving Corporate Boards. Ward, the editor of Corporate Board magazine, has filled the pair with well-written and insightful case studies, along with specific recommendations for changes in practices and procedures. Together they make an excellent handbook both for companies and for individual directors. In fact, "required reading" is the term that best describes them.

  The 21st Century Corporate Board focuses on the turbulent era of the early 1990s, which saw a series of sackings of CEOs at corporate giants GM, Kodak, IBM, and American Express, among others. The frenzied era of hostile takeovers and leverage buyouts in the 1980s was still fresh in the minds of corporate boards. If a CEO failed to keep his company's stock price high enough to ward off potential raiders, boards were not hesitant to send CEOs packing.

  Ward divides the book into two sections - an examination of how things got so bad as boards grew increasingly somnolent, and then a prescriptive section, with specific recommendations for changes. Among his most powerful suggestions is that the board have its own office and staff within the organization. Typically most boards rely on assistance from the CEO's or corporate counsel's office. The board needs more independence and autonomy, especially as the prospect of increased government oversight grows.

  His more recent book, Improving Corporate Boards, provides more detailed and specific recommendations for improving each branch of a board's function. The audit committee of Enron's board might have spared themselves and the rest of the company more than a little trouble had they read Ward's pithy chapter entitled, "Smarter Audit Committees." Two suggestions seem especially on point: "Make sure the company is looking at the real numbers" and "Learn where right and wrong really are for the company's financials."

  Polaroid CEO Gary DiCamillo managed to work the stock price of his company consistently down over his six-year tenure: from a high of ... per share to its recent value of pennies following the company's bankruptcy. Amazingly, near the end of DiCamillo's initial three-year contract, with the stock price at half of what it had been when he first took over as CEO, Polaroid's board paid him a ... cash bonus, extended his contract, and affirmed their support for him. DiCamillo banked the bonus and bankrupted the company. He is still CEO. We can only surmise what might have happened had Polaroid's board members read through Ward's two books and then acted on even a small number of Ward's sound suggestions. As it is, the board has no doubt provided Ward with an unfortunate but instructive case study for a future edition of either of these two solid handbooks. ...

  Smashing the Iron Curtain
  Now that the capitalist/communist divide in eastern Europe has fallen, perhaps the greatest remaining human barrier is between those who have served as directors of public corporations and those who have not. From the inside, boards look like groups of honest, smart, hard-working earnest people trying to do a very difficult job with inadequate tools. From the outside, people automatically use words like "entrenched," "greedy," "co-opted" and "lazy." When the stock is going up, no one thinks of the board. When it goes down, everyone is disgruntled and everyone blames the board. Ralph Ward has bridged that gap with a book that brings the outsider into the boardroom, to see real day-to-day board operations. At the same time the book will show the insider the view from the stands. The author is neither a cheerleader for nor an enemy of boards. He shows how a board can add real value to a public company, but he does not hesitate to criticize bad practice. Any board member can use this book to improve their board. Any investor can use it to understand boards, and to encourage improvement. On top of that, it's actually fun to read.

  Wise words from an informed observer.
  So you've been a director for 20 years and you think you've read it all. Think again. As he opens "21st Century Board," Ralph Ward sets the stage for adventure. "In editing a national magazine for the past six years, I've had a ringside seat for the wildest era of corporate governance change since the New Deal," Ward begins...and proceeds to bring the era to life in 350+ comprehensive pages. It's all here--the issues, the players, the research, the war stories, the trends--from Archer Daniels Midland to Westinghouse--in a tome so comprehensive that any reader is guaranteed to find something new (even this reviewer, who has spent nearly two decades covering the governance scene). But beyond information, this book offers unbiased, well-reasoned, and fair-minded opinions on the most important governance controversies of our day. Readers joining Ward will soon find that their companion is no mere ticket-holder, but a narrative ringmaster who can put even the "wildest" things in their proper place.

  Grabs the reader from page one!

  
  Ralph Ward grabs the reader from page one with a Barbarians at the Gate style tale of the board revolution at General Motors. For the first six chapters I kept wondering if I could somehow buy into the movie rights. By chapter 7, however, he is shifting gears into a history of boards of directors and their function. The likelihood of a movie faded but the book never looses its lively pace through 60 informative chapters with headings like "How to Launch a Board Revolt," "Q: Why is Board Education like Sex Education," and "Take Me to Your Lead Director."

  Ward tells the familiar tale, chronicled by Berle and Means and updated by Mark Roe, of how owners were usurped by managers. The recent era of corporate raiders and rubber stamp boards is fading into history as shareholders and their board representatives gain an equal footing with CEOs. Ward draws on his years of experience as editor of The Corporate Board to inform the reader of current trends and to speculate on the future.

  For example, Ward tells us that new boards are looking for skills in telecommunications and technology, marketing, international markets, finance, restructuring, entrepreneurial skills, and service industries, as well as for demographic diversity. Ward devotes several chapters to describing the work of audit, compensation, and nominating committees. He also looks examines emerging committees in corporate governance and compliance as well as more specialized committees. He sees the likelihood that small board secretariats will strengthen the board's hand in working with management by helping them dig through the data.

  Looking at the chair/CEO controversy, Ward concludes that in most cases the independent outside chair "would not have enough muscle yet to make a difference." "This does not mean we should give up on the idea of a separate chair, but rather that supporters may have been too early with the idea for it yet to be effective." Ward sees lead directors as a "fallback" position that is likely to take hold sooner but on a less formal basis.

  Most readers will find that Ward takes a balanced and reasoned approach to SEC regulations, director liability, stakeholder influence, and the dozens of other issues which he covers in brief but informative discussions. Perhaps most controversial is his contention is that we may soon be seriously considering proposals for federal the chartering of corporations. Ward breezes through past proposals by James Madison, William Jennings Bryan, T. Roosevelt, Wilson, Taft, William O. Douglas, Ralph Nader, and more recent efforts. He points out that "the very Congress that gained power in 1994 by proclaiming a return of power to the states passed the Private Securities Litigation and Reform Act of 1995" which preempts state powers in shareholder suits and adds federal disclosure requirements.

  Ward argues that several federal laws have defused the radical call for federal chartering while bringing us closer to a de facto federal system. "While federal chartering waves of the past century were stirred by politicians, jurists, and consumer advocates, a renewed effort would likely be led by shareholders." "If federal corporate certification could supersede state lawsuits, coordinate often contradictory federal regulations, and set clear standards for board behavior, it might well draw new fans from the business sector." I find his arguements compelling. If shareholders and businesses united around such a proposal now, we might avoid populist based demands, with confusing stakeholder provisions for constituent based boards, which are likely to resurface in an economic downturn.

  http://www.corpgov.net

  ... Read more

Book Description

Drawing upon forty years of experience from his own sports and celebrity management practice, Mark H. McCormack is back with common-sense advice aimed at business owners and would-be CEOs. McCormack's tips include:

* End your day on time
* People who say they can keep a secret usually can't
* It pays to overestimate your competition
* The best ideas cannot be stolen
* Know when to say "It's none of your business"
* Get paid for thinking rather than doing
* Time in front of the customer is the best time of all
* Be wary of unanimous agreement
* Not every budget deserves your respect
* Learn the art of picking up the check


In ninety brief chapters that range in topic from getting ahead to staying competitive, McCormack makes clear that doing business in today's climate still involves the same basic elements of human interaction-intelligence, creativity, and efficiency-that have always meant the difference between success and failure. ... Read more

Reviews (6)

Good roundup of common sense in business relationships
(This book was previously published as 'Staying Street Smart in the Internet Age').
It's not the first book by Mark McCormack I've read. Like the others, its very readable, and gives a collection of homespun philosophies, interspersed with personal life experiences. There's a strong emphasis on Sales, but 'selling' is surely part of all of our business relationships.
Just don't believe in the gospel of everything McCormack has to say; there are contradictions, just as life is full of them, such as :
In Part 8 'When you are in Charge', there is the lesson "unlearn the bad habit of not trusting your 1st impression", whereas in Part 9 'Etiquette for the New Millenium', under 'reading people requires more than one reading', there is a "caveat about reading people too quickly" - so which is it to be?
Consider it light reading to just remind you of the good & bad things that you can do to others & they can do to you, and re-adjust & compensate accordingly.

Good roundup of common sense in business relationships
(This review is of the paperback edition re-published as 'Never Wrestle with a Pig').
It's not the first book by Mark McCormack I've read. Like the others, its very readable, and gives a collection of homespun philosophies, interspersed with personal life experiences. There's a strong emphasis on Sales, but 'selling' is surely part of all of our business relationships.
Just don't believe in the gospel of everything McCormack has to say; there are contradictions, just as life is full of them, such as :
In Part 8 'When you are in Charge', there is the lesson "unlearn the bad habit of not trusting your 1st impression", whereas in Part 9 'Etiquette for the New Millenium', under 'reading people requires more than one reading', there is a "caveat about reading people too quickly" - so which is it to be?
Consider it light reading to just remind you of the good & bad things that you can do to others & they can do to you, and re-adjust & compensate accordingly.

A Refreshing Perspective
I started reading business books with Mark McCormack's "What They Don't Teach You at Harvard Business School" years ago. So, I couldn't resist "Never Wrestle with a Pig," and am glad I picked it up. McCormack reminds us of the fundamentals and basic goals of business in order to succeed and prosper - whether today, tomorrow or way back in the 20th Century. I'm done wrestling with pigs, but I am going to give humans in business more chances with my refreshed knowledge from McCormack. It's a quick read with long-lasting benefits.

It caught my attention
I usually tend to find career development/strategy books simplistic and mind-numbing. After having my attention caught by the title of this book though, I decided to give it a try. I couldn't put it down and have already recommended it to many people. The format is very reader-friendly with McCormack's having done a great job of packaging his points in morsels that are easy to absorb. You'll probably find yourself nodding in agreement with his bits of common sense as you're reading. It's the kind of book that you want to share with everyone, but on the other hand keep it to yourself because what you learn from this book will make you appear like a genius. The only detraction from the material is that the author does come off as pompous at times, but looking at his accomplishments, I think this attitude is warranted.

Interesting and informative, but...(my but about it)
The book was quite clear and informative. It had many experiences that were shared and communicated well. It did give me many interesting tid bits and pointers, but -

I started to get the feeling that the author was really full of himself, and it seemed after a while that he kept saying: "only after I stepped in did things improve most of the time because I am such a smart guy..."

That started to wear me down and it started to get a little annoying. If it wasnt for that, the book was good.

I would not recommend this book to any friend of mine because I think there are other books out there that tell the reader more with less personal glory attached to it.

Perhaps I should read biographies more? ... Read more

Amazon.com

The Purchasing Machine, by supply-management professionals Dave Nelson, Patricia E. Moody, and Jonathan Stegner, presents a strong argument for the growing importance of this highly specialized facet of the manufacturing process--incorporating "purchasing, money and material flows, ownership of acquisition and sourcing strategies, and even intellectual property movement and control"--along with a series of related measures that could carry companies to the top in years ahead. It also focuses on the leadership skills necessary to make them a reality. The authors admit that their best-practice companies (American Express, Flextronics, Whirlpool, Harley-Davidson, IBM, John Deere, Honda of America, Sun Microsystems, SmithKline Beecham, and DaimlerChrysler) aren't perfect in all areas, as evidenced by the recent tribulations of the latter automaker. But each has learned to excel in a particular area, such as customer relations or systems innovations, and the authors describe them and ways their examples might help others cut costs and turn resultant savings into "lower consumer prices, exciting products, or fatter shareholder returns." Nelson, Moody, and Stegner identify 20 of these best practices (such as Training, Supplier Information Sharing, and Loaned Executives), and show how "the discipline of acquiring and moving material" can be turned to strategic advantage. --Howard Rothman ... Read more

Reviews (5)

Very Average
As a purchasing professional, I turned to this book to gain insight to new or advanced purchasing practices that might help me in my work and I was very enthusiastic about the book when I began reading it. Instead of new knowledge, I found repetitive stories about the mass production environments in the automotive and related industries. Although some new thoughts or ideas were presented, I did not feel as if this book taught me anything novel or cutting edge. It is simply a repeat of purchasing concepts that can be found in many other operations or supply chain books flavored with managerial buzz words and the self-glorifying personal success stories of the authors and the companies they work for. If you work in a job shop environment or for a small to medium size business, this book is virtually useless. If you are in a huge mass production environment with a large budget, it might be of some value, but my guess is that you would already be familiar with the concepts presented.

Lots of words, little content
Ifyou are looking for a "how to" book, look somewhere else. This book appears to have only general rules of the thumbs , wrapped in lots of manager lingo (people resource allocation, globalization, etc.) Overal very disapointing. The only positive side are the occasional industry examples, but there are not enough of them to make this book a good buy.

And where is the beef?
Based on an extensive research project this book promises a lot but delivers nothing. The first thing that you have to recognize is that there is hardly any structure at all. Repitions abound without adding any value. The style of writing is close to unbearable - they could have put the contents into a fourth of the pages. The cases are sketchy at best; they claim to offer best practices but are nothing new. The book tries to look into the future and puts forward a wildly speculative view of what the authors think lies ahead; again they do not offer a vision but describe the status quo in future tense. For people who like real satire I recommend Moody's Harley Davidson poem! Summary: Only recommended for those who need to own every book on the subject...

Packed With Knowledge!
One of this book's mantras is that purchasing is a lot more important these days than in decades past. The authors, Dave Nelson, Patricia Moody and Jonathon Stegner, have spent decades in the field of purchasing. Their principal argument is that now that most companies outsource their equipment and even their parts (for example, very few Dell parts are made in-house), purchasing has become not only more important, but a potential source of incredible savings. The dozen companies profiled in this book - which is meant to detail the best practices in purchasing worldwide - have realized millions of dollars in savings simply by optimizing supply-chain management. The authors emphasize that this isn't an individual task. Change in purchasing management requires an internal team and management support. We [...] recommend this book not only to purchasing managers, but to all corporate executives, any of whom will glean some invaluable pointers about how to save money in day-to-day operations.

Purchasing Machine : How the Top 10 Companies Use Best Pract
I am fortunate in that I received a copy of this book for review prior to the publication and can only suggest that if you read a few business books this year read this one. You will not only be able to relate to several of the best practices but you will be able to apply one or more of them in your organization and make a positive bottom line impact. ... Read more

Book Description

Beginning with a look at the most successful mergers and acquisitions in the '90s, Marren covers the new marketplace for M&A activity and gives readers new approaches to target valuation. Mergers & Acquisitions is full of valuable: Worksheets; Checklists; Case histories. ... Read more

Reviews (5)

good but
Good book on deal structure, but if you want a valuation number, check out "Unlocking the Value of Your Business".

Totally outstanding
A must read not only for beginners but also for practicioners. This book provides something different than other M&A / valuation books that I've read. It explains various techniques and structures of M&A transactions in a way that has never been explained in other books. The basic definitions are there to explain the most basic things, but the author gives examples to show the application of a real life situation. Note that although the book provides modeling examples, it doesn't go through them line by line. So for those of you who try to get to know how to create a spreadsheet model, this is not the book, but if you want to know, say, the implication of a structure to a tax basis of the merging entities, this is the one to have.

very helpful
This book doesn't pretend to be a dictionary, as most text books do. It is highly focused on M$A on the valuation side and the book is well organized and easy to follow. The book does not (and should not) include everything about M&A, but everything included in the book is well describled and supported by examples. Unless some technical text books, this one is actually written by English (maybe it's because the author is not a PhD) and that makes the book very readable.

Most comprehensive book on M&A
One of the best book ever read on mergers and aquisition. It gives you complete detail on not only the valuation of deals but also the minute tax details and complex methodologies. Every concept is supported with an example, which makes understanding of the concept very simple.

Fantastic overview of M&A with many real-world examples
This book is a great way to learn about the nitty-gritty of mergers & acquisitions. It offers a variety of methods to examine M&A projects and it uses real-life examples. As opposed to many other texts, it is also very readable. It is one of the few accessible M&A books for neophytes. ... Read more

Book Description

Today, tens of thousands of companies are struggling to become "time-based" competitors, inspired by such corporations as Motorola, General Electric, Citicorp, and a myriad of others who have cut production time in half—or more. But until now, the literature has focused on the theory and philosophy of fast cycle time, rather than the tools and techniques for implementing it. Here, for the first time, Christopher Meyer, an internationally recognized expert in cycle time reduction, presents a step-by-step blueprint for transforming traditional companies into fast cycle competitors.

Meyer argues that fast cycle time is achieved not by working faster, but by aligning the organization's purpose, strategy and structure. He demonstrates how the product development cycle must become a learning laboratory in which the four continuous elements "Design, Fabricate, Assemble, and Test" are analyzed with the intent to improve strategy in the next business cycle. Analyzing strategy and core processes enables management to detect and correct problems earlier, and leverage knowledge for improved innovation and increased value for customers.

Employing an ongoing case study, Core Products, Inc., throughout the text, Meyer shows how to redesign the organization for manufacturability and assembly, how to implement multifunctional teams that work, how to analyze and map critical cycle time interdependencies such as "co-location," and how to measure the impact of cycle time on business performance. Meyer's practical approach provides a simple methodology for organizations to deliver products to customers rapidly, accurately, and reliably.

"Chris Meyer interrelates many pieces that we have all read about in different places into a coherent guide to making it happen. Ironically, as Meyer shows, implementing fast cycle time means almost the opposite of what most American managers are inclined to do...Many years of practical experience have shown Meyer and his colleagues the wisdom of a paradox—that to speed up you often have to slow down."

—From the Foreword by Peter M. Senge ... Read more

Reviews (2)

Cross functional alignment is the key . . .
Many of our clients are struggling with life at internet speeds. If you haven't read this classic on speeding up your organizations product and service life cycle, now may be a good time to do so. Praise for this book, as listed on the back of the dust jacket, come from Ford Motor Company, Quantum Corporation and others with Ed McCraken, CEO of Silicon Graphics Computer Systems stating that this is; "A must read for executive who seek speed and competitiveness."

Mr. Meyer utilizes an "ongoing case study" to make his points concerning FCT processes. This approach lends credence to his positions and gives the book a solid feel of practicality. In addition, frequent use of diagrams helps the reader visualize the organizations, processes, information flow, and cross functional activities of organizations. The layout of the book is logical and provides for continuity as Meyer builds on each preceding chapter.

The book is filled with excellent observations and pithy sayings: "The responsibility for strategic alignment rests with senior management." "Any organization leader who seeks to 'empower' people should first create a clear strategic context that enables others to use the power with which they were born." "Research demonstrates there is a negative correlation between economic growth rate and the number of Nobel prizes won." "A sustainable FCT capability can be achieved only by learning faster, not by working faster."

Time is worth more than it used to be
This book provides a compelling blend of theory and practical advice on how to move quickly. I found many things that used combined Balanced Score Card techniques focused on cycle time with the author's real world experience - which is considerable.

The book is aimed at managing the culture and mindset of the organization, not a particular project. A worthwhile read if time-based-competition applies to your business. ... Read more

Book Description

Foreword by Steve Reinemund, CEO, PepsiCo

Despite decades of social progress and legal reform, minorities still face obstacles on the path to success, both internal and external, from cultural insensitivity to outright prejudice, from isolation to over-scrutiny.

Cracking the Corporate Code looks at the factors that have framed the careers of 32 African-American executives, whose accomplishments have made valuable contributions to the success of organizations ranging from Pepsi, Kraft, GE, Merrill Lynch, and Miller Brewing to Prudential, Sears, Verizon, American Express, Chrysler, and BP.

These men and women, in wide-ranging interviews, discuss what motivated them, recount sources of support and conflict, and reveal the strategies they developed to acquire and use power and to achieve undisputed corporate results.

The authors have analyzed the experiences selectively, resulting in a book that is both an inspiration and a call to action. Cracking the Corporate Code is an eye-opening and practical guide for anyone who seeks to blend professional, personal, and cultural identities into an individual formula for success. ... Read more

Reviews (7)

A Must Read For All Attorneys of Color!
Reading Cracking the Corporate Code (CTCC) is like having conversations with the best mentors in the world.. When I first read it, I was in the middle of my fourth year as an associate at a major law firm in Silicon Valley. I was one of very few blacks, and I was struggling through work assignments and feeling so alienated. It was CTCC that gave me the confidence to look honestly at my law firm environment. I think every African-American lawyer should read this book!

Thought provoking
As an American lawyer in London, I often feel isolated in an alien culture, even though everyone is speaking English. CTCC was given to me by a colleague who knows Judy Turnock. I was surprised to find how much I identified with the experiences of the corporate executives interviewed there. What they shared has given me even more respect for what so many people have sacrificed to make the promise of America a reality. It also made me proud of my small part in the cultural change underway in every workplace. I find myself turning to CTCC again and again. Wherever you work, read this book.

Inspirational
As the director of a not-for-profit art center, I've spent years struggling to raise enough funds to improve our center, build our programs and pay our staff.  I read Cracking the Corporate Code because I know Judy Turnock, but I had no idea it was going to help me in my work.  It made me start thinking strategically about the struggle of every art center, and now I've put together a consortium of over 40 art centers.  I would never have thought this way if I had not read CTCC.  It makes you think about how to accomplish more.  I think CTCC has a message for everybody.

Just Good Reading
I'm not in corporate America. Heck, I'm not even in business. But I do enjoy reading about people who work hard and make it to the top and don't give excuses for setbacks. This book shares principles that will work in any field. I love excellence that is presented simply.

Essential for All Professionals
This is a fabulous book with lots of great stories, information and strategies on being successful in corporate America. This is a must read for ALL corporate professionals especially those seeking to craft their own strategy for growth in corporate America!!!!! ... Read more

Book Description

" Everyone knows Warren is the greatest investor of our time. . . .This book for the first time captures his genius as a manager." --Jack Welch

"Robert Miles clearly understands the company well."–-Warren Buffett

Much has been written about Warren Buffett and the philosophy that made him the most successful investor in history, yet nothing–until now–has been written about his role as manager of the diverse companies under Berkshire Hathaways ownership.

Berkshire Hathaway expert Robert Miles explores the hands-off management style that has proven successful for both Buffett and Berkshire Hathaway. Including rare interviews with executives who run the companies within Berkshire Hathaway holdings, The Warren Buffett CEO provides a unique insiders perspective from managers such as:

• Lou Simpson and Tony Nicely, Presidents and CEOs of Capital Operations and Operations, respectively, Geico
• Ajit Jain, President, Berkshire Hathaway Reinsurance Group
• Richard Santulli, President and CEO, ExecutiveJet

Besides revealing the successful management style of the powerhouse holding company known as Berkshire Hathaway, The Warren Buffett CEO sheds light on the companys future as well as on who will succeed the "Oracle of Omaha" when he steps down. You may never get to work with Warren Buffett, but in reading The Warren Buffett CEO you will understand what it is like to work for "the best boss in the world."

With a foreword by Tom Osborne, US Congressman and Former University of Nebraska Head Football Coach ... Read more

Reviews (21)

The soft facts of Buffett's success
Robert Miles's most recent book grants overwhelming insights into the Buffett style of management.

Though having also been interested in the usually finance driven literature on Warren Buffett, I always missed to learn more about the soft facts in the incredible success story of Berkshire Hathaway.

This book perfectly filled this gap!

According to me, the chapter "Buffett CEO Compensation" is particularly interesting if one considers the current management desasters caused by the "motivation" tool called stock-options. Miles has prepared a good overview on Buffett's convincing anti-stock-option arguments and describes how Berkshire Hathaway compensates its CEOs with cash only. Very clear and very simple, as most of Buffett's fundamental rules.

The soft facts of Buffett's success.
Robert Miles's most recent book grants overwhelming insights into the Buffett style of management.
Though having also been interested in the usually finance driven literature on Warren Buffett, I always missed to learn more about the soft facts in the incredible success story of Berkshire Hathaway.

This book perfectly filled this gap!

According to me, the chapter "Buffett CEO Compensation" is particularly interesting if one considers the current management desasters caused by the "motivation" tool called stock-options. Miles has prepared a good overview on Buffett's convincing anti-stock-option arguments and describes how Berkshire Hathaway compensates its CEOs with cash only. Very clear and very simple, as most of Buffett's fundamental rules.

Highly Recommended!
Robert Miles knows Warren Buffett, and it's clear that he also knows a thing or two about the people who run the companies in Buffett's Berkshire Hathaway. Armed with information gleaned from eight months of intensive interviews, Miles uncovers what makes a Berkshire manager tick, and covers the workings of Berkshire, itself, as well. Writing through the voices of the CEOs he portrays, Miles skillfully weaves the colorful histories of 18 firms into a revealing set of success stories. Many tales are similar - the CEOs love their companies; they worked hard to build solid businesses and no one regrets selling his firm to Berkshire. They all sound genuinely happier than you might possibly believe, and each chapter has business models you shouldn't miss. We invite any executive to enter these pages for an insider's view (still, it doesn't hurt to remember, they all knew Warren was gonna read it).

A Pedestrian Book Saved Only by the Managers Themselves
Thank goodness Berkshire Hathaway is populated by so much management talent. Even Robert Miles' mediocre writing and pedestrian insights can't obscure the real value of this book, which is to document, in a detailed and therefore fairly convincing way, Warren Buffett's exceptional ability to choose and motivate people.

Buffett's techniques for dealing with people are well-known (he talks about them constantly) and this book has almost nothing really new to reveal, but Berkshire junkies will enjoy the anecdotes and facts that bring Buffett's concepts to life in a more concrete way. Even though many of the stories are recycled, hearing a few of the managers speak in their own words and tell their own versions is revealing. That Buffett himself made a kind remark about this book is unremarkable. What else could he possibly say about a book that features some of his key people? Bottom line: this is definitely a book for those already familiar with, and enthusiastic about, Buffett.

Miles' publisher, Wylie, has created a virtual industry out of quickie trade books about Buffett. Wylie's new twist in this book is the Berkshire managers, who provide whatever shine it emits. But somewhere along the way, a mighty big assist must have been delivered on the editorial end to tone the writing style down into something publishable. How so? Miles himself comes across as one of the most self-aggrandizing, uber-promotional, un-Buffett-like people imaginable. That someone could write about Warren Buffett, with seemingly so little concept of what the man is about, is amazing. It wouldn't be the first time Buffett's name has been exploited by someone who barely knows him, but Miles takes exploitation to a whole new extreme. The Robert Miles web page, which reminds one of a three-card monte dealer or perhaps, one of the more gelatinous used car salesman types, speaks for itself. The headline, "You May Never Meet Warren Buffett, But Hear Robert P. Miles Speak and You'll Feel Like You Have" says it all. If you want to read a book about the value of humility by an author who has the nerve to compare himself to Warren Buffett, well, this is that book.

Highly Recommended!
Robert Miles knows Warren Buffett, and it's clear that he also knows a thing or two about the people who run the companies in Buffett's Berkshire Hathaway. Armed with information gleaned from eight months of intensive interviews, Miles uncovers what makes a Berkshire manager tick, and covers the workings of Berkshire, itself, as well. Writing through the voices of the CEOs he portrays, Miles skillfully weaves the colorful histories of 18 firms into a revealing set of success stories. Many tales are similar - the CEOs love their companies; they worked hard to build solid businesses and no one regrets selling his firm to Berkshire. They all sound genuinely happier than you might possibly believe, and each chapter has business models you shouldn't miss. We invite any executive to enter these pages for an insider's view (still, it doesn't hurt to remember, they all knew Warren was gonna read it). ... Read more

Book Description

This book in microeconomics focuses on the strategic analysis of markets under imperfect competition, incomplete information, and incentives. Part I of the book covers imperfect competition, from monopoly and regulation to the strategic analysis of oligopolistic markets. Part II explains the analytics of risk, stochastic dominance, and risk aversion, supplemented with a variety of applications from different areas in economics. Part III focuses on markets and incentives under incomplete information, including a comprehensive introduction to the theory of auctions, which plays an important role in modern economics. ... Read more

Reviews (3)

lucid exposition and very modern focus
Wolfstetter has given us a book that is very much focused on modern microeconomic theory. It is indeed, as the title suggests, a "topics" book, not a universal micro theory textbook. For instance, he does not cover general equilibrium theory at all. But by concentrating on the fascinating newer insights of information economics and industrial economics, he is able to go deeper than most other textbooks, see for instance the outstanding chapter on auction theory. There is even a chapter on matching theory, a topic not usually covered in textbooks at all.

The reader from Pasadena is right when he says that this is a book for academics. This is the audience the book was written for. But this reader is highly unfair for blaming the book for the fact that he is not an academic. In fact, for academics, this is an excellent book, and clearly deserves 5 stars!

A Book for Academics
I believe it was George Bernard Shaw who said "every profession is a conspiracy against the laity." Topics in Microeconomics by Elmar Wolfstetter would fit this quotation. In between the very well written prose are scads of algebraic equations and supply and demand charts that only confuse most readers. This books is written for academics. On the back cover are kudos from other academics who are members of the self-congratulations society. I'm sorry I bought the book. Read Ronald Coase if you want to read an economist who avoids unnecessary abstractions.

It is an excellent book
This book provides an extremely thorough and comprehensive treatment of important topics in microeconomics. This work manages to be both rigorous and pleasant to read. ... Read more

Book Description

This outstanding work reveals how boards governing 21st-century organizations can change their practices and align their principles to successfully govern the organization of the new economy. The authors propose that judging a board's effectiveness should be done not in a "shareholder" context but in a "stakeholder" context instead. They couch their reforms in a framework that focuses on what determines effective governance behavior: information, knowledge, power, and rewards.They argue it is behavior, not practices that count, and look at boards from a group and an organizational perspective. ... Read more

Reviews (5)

A must read for board directors
This is a must read for every board director. Newly-electeds will find a treasure trove of important material; experienced directors will find data to either support or challenge their beliefs on corporate governance.

Bruce R. Ellig
Corporate Vice President HR (retired)
Pfizer, Inc.

Best Source for Corporate Board Effectiveness
In my role advising mid- and senior-level management of Fortune 100 companies, I found this book by Conger, Lawler and Finegold to be of immediate value.

"Corporate Boards: New Strategies for Adding Value at the Top" is positioned towards people who are perhaps on boards or who are executives dealing with boards. The authors are extremely credible, having dealt with and advised senior leadership from nearly every Fortune 100 company.

This book really brings together in one source all you need to know about building a more effective board - it is filled with real and practical guidelines and actionable how-tos. At the same time, it challenges the current governance approaches, arguing that despite all the "best practices" available, we still have a relatively simplistic understanding of how to build a great board. This book gives the reader more sophisticated insights into what it takes to have an effective board.

The authors also raise a number of issues that are critical given today's environment. For example, are boards solely responsible to shareholders or are there other, equally critical groups to which boards need to be accountable? Finally, the authors discuss the implications of the Internet for the boardroom.

In short, I strongly recommend this book, particularly for those who deal with senior leadership, corporate boards and governance issues.

I really wish I had read this first.
We picked up this book after our first board actually became a liability! It was only after the failure of original the board (which failed for exactly the reasons the book outlined as primary reasons boards fail!) that this book was recommended to us. The five founders all read it and discussed it.

Since we were in the midst of a reorg, it was exceedingly helpful in reshaping the new board into a more effective and cohesive part of the company. We did a much better job of first creating the criteria to evaluate candidates and a lot of the politics went out of the process.

I don't agree with all of the authors assertions about what a strong board can do for a company. I still think much of that is up to the people doing the actual work. However, since a board is a critical element of any modern company, read this first and do it right the first time.

Excellent resource for both CEOs and Board members
Insightful and immediately useful. Having served in many of the roles that the book touches upon--CEO, Board Member, Chairman--I find that unlike other business strategy books, authors Conger, Lawler and Finegold provide a straightforward and powerful vision by which today's board can function much more effectively. If my own experience in using this resource within the boards I am involved in is any indication, any board that reads this book and implements its teachings will improve its effectiveness immensely.

I particularly like the balanced view of the legal responsibilities of today's board versus their leadership "voice" for the various stakeholders.

Coporate Boards
I am not a businessman, so I haven't read too many books on management, but I certainly am glad I read this one. I'm a scientist in the process of putting together a small biotech company. I have recently been turning to friends in the coporate wold as well as those still in B-school for advice about business structuring. When I asked about developing an effective board, one of them recommended this book by Conger, Lawler, and Finegold....what a education. The book deals with the basics of board structure, but then goes beyond using thier extensive database to craft an in-depth analysis of the inner-ps