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An against-the-grain polemic on American capitalism from New York Times bestselling author Tyler Cowen. We love to hate the 800-pound gorilla. Walmart and Amazon destroy communities and small businesses. Facebook turns us into addicts while putting our personal data at risk. From skeptical politicians like Bernie Sanders who, at a 2016 presidential campaign rally said, “If a bank is too big to fail, it is too big to exist,” to millennials, only 42 percent of whom support capitalism, belief in big business is at an all-time low. But are big companies inherently evil? If business is so bad, why does it remain so integral to the basic functioning of America? Economist and bestselling author Tyler Cowen says our biggest problem is that we don’t love business enough. In Big Business, Cowen puts forth an impassioned defense of corporations and their essential role in a balanced, productive, and progressive society. He dismantles common misconceptions and untangles conflicting intuitions. According to a 2016 Gallup survey, only 12 percent of Americans trust big business “quite a lot,” and only 6 percent trust it “a great deal.” Yet Americans as a group are remarkably willing to trust businesses, whether in the form of buying a new phone on the day of its release or simply showing up to work in the expectation they will be paid. Cowen illuminates the crucial role businesses play in spurring innovation, rewarding talent and hard work, and creating the bounty on which we’ve all come to depend.
Provides an overview of the big issues in the business world today, with firsthand accounts from young leaders tasked with tackling these issues head on.
Traces changes in the demographic composition of American business leadership. Through statistical analysis of their large leadership database and biographical sketches of individuals who rose to the top of corporate America, this book reveals mechanisms of advancement. It is intended for scholars, practitioners, and journals.
The public views and record of philanthropy of a convenience and judgment sample of fifty-eight American big business leaders were weighed against both "Robber Baron" and "Industrial Statesman" interpretations of entrepreneurship to test the revisionist "Industrial Statesman" hypothesis that the views and dona- tions of a purposive sample of America's business leaders for the period 1910 to 1932 demonstrated positive contributions to our nation's learning, culture, and human welfare. In this manner the philosophy of public service emerged as a prominent moving force explaining the philanthropy of American business leaders, re- sulting from an ethical, humanitarian morality which championed the role of education in a democratic society, and the preservation of American civiliza- tion. Thoughtful motives similarly prompted generous giving, as evidenced in libraries, museums, the theater, and art galleries, while additionally providing or enriching those facilities that have enhanced the country's health, research, technology, and leisure-time activities.
The Challenge Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning. But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness? The Study For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great? The Standards Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck. The Comparisons The research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good? Over five years, the team analyzed the histories of all twenty-eight companies in the study. After sifting through mountains of data and thousands of pages of interviews, Collins and his crew discovered the key determinants of greatness -- why some companies make the leap and others don't. The Findings The findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include: Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness. The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence. A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology. The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap. “Some of the key concepts discerned in the study,” comments Jim Collins, "fly in the face of our modern business culture and will, quite frankly, upset some people.” Perhaps, but who can afford to ignore these findings?
"Based on extensive interviews with today's . . . corporate leaders, this look at how the best CEOs do their jobs focuses on the mindsets and actions that foster an environment of excellence"--
Otiginally published in 1975. At the time that Louis Galambos published The Public Image of Big Business in America in 1975, America had matured into a bureaucratic state. The expression of the military-industrial complex and big business grew so pervasive that the postwar United States was defined in large part by its citizens' participation in large-scale organizational structures. Noticing this development, Galambos maintains that the "single most significant phenomenon in modern American history is the emergence of giant, complex organizations." Today, bureaucratic organizations influence the day-to-day lives of most Americans—they gather taxes, regulate businesses, provide services, administer welfare, provide education, and on and on. These organizations are defined by their hierarchical structure in which the power of decision-making is allotted according to abstract rules that create impersonal scenarios. Bureaucracies have developed as a result of technological changes in the second half of the nineteenth century. Based on the premise that these structures had a stronger influence on modern America than any other single phenomenon, this book explores the public's response to the growth of the power and influence of bureaucracy from the years 1880 through 1930. What results is an examination of the social perception of bureaucracy and the development of bureaucratic culture.