Searching for a Corporate Savior

Searching for a Corporate Savior Author : Rakesh Khurana
Release : 2011-09-19
Publisher : Princeton University Press
ISBN : 1400841097
File Size : 80.29 MB
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Corporate CEOs are headline news. Stock prices rise and fall at word of their hiring and firing. Business media debate their merits and defects as if individual leaders determined the health of the economy. Yet we know surprisingly little about how CEOs are selected and dismissed or about their true power. This is the first book to take us into the often secretive world of the CEO selection process. Rakesh Khurana's findings are surprising and disturbing. In recent years, he shows, corporations have increasingly sought CEOs who are above all else charismatic, whose fame and force of personality impress analysts and the business media, but whose experience and abilities are not necessarily right for companies' specific needs. The labor market for CEOs, Khurana concludes, is far less rational than we might think. Khurana's findings are based on a study of the hiring and firing of CEOs at over 850 of America's largest companies and on extensive interviews with CEOs, corporate board members, and consultants at executive search firms. Written with exceptional clarity and verve, the book explains the basic mechanics of the selection process and how hiring priorities have changed with the rise of shareholder activism. Khurana argues that the market for CEOs, which we often assume runs on cool calculation and the impersonal forces of supply and demand, is culturally determined and too frequently inefficient. Its emphasis on charisma artificially limits the number of candidates considered, giving them extraordinary leverage to demand high salaries and power. It also raises expectations and increases the chance that a CEO will be fired for failing to meet shareholders' hopes. The result is corporate instability and too little attention to long-term strategy. The book is a major contribution to our understanding of corporate culture and the nature of markets and leadership in general.

Searching for a Corporate Savior

Searching for a Corporate Savior Author : Rakesh Khurana
Release : 2011
Publisher :
ISBN :
File Size : 38.71 MB
Format : PDF, Mobi
Download : 477
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Corporate CEOs are headline news. Stock prices rise and fall at word of their hiring and firing. Business media debate their merits and defects as if individual leaders determined the health of the economy. Yet we know surprisingly little about how CEOs are selected and dismissed or about their true power. This is the first book to take us into the often secretive world of the CEO selection process. Rakesh Khurana's findings are surprising and disturbing. In recent years, he shows, corporations have increasingly sought CEOs who are above all else charismatic, whose fame and force of personality impress analysts and the business media, but whose experience and abilities are not necessarily right for companies' specific needs. The labor market for CEOs, Khurana concludes, is far less rational than we might think. Khurana's findings are based on a study of the hiring and firing of CEOs at over 850 of America's largest companies and on extensive interviews with CEOs, corporate board members, and consultants at executive search firms. Written with exceptional clarity and verve, the book explains the basic mechanics of the selection process and how hiring priorities have changed with the rise of shareholder activism. Khurana argues that the market for CEOs, which we often assume runs on cool calculation and the impersonal forces of supply and demand, is culturally determined and too frequently inefficient. Its emphasis on charisma artificially limits the number of candidates considered, giving them extraordinary leverage to demand high salaries and power. It also raises expectations and increases the chance that a CEO will be fired for failing to meet shareholders' hopes. The result is corporate instability and too little attention to long-term strategy. The book is a major contribution to our understanding of corporate culture and the nature of markets and leadership in general.

The Accountable Organization

The Accountable Organization Author : John Marchica
Release : 2004
Publisher : Davies-Black Publishing
ISBN : 9780891061854
File Size : 20.70 MB
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This books lays out the strategies, guidelines, and tools to help anyone with the desire to influence change in organizations, move from purpose to action.

Corporate Governance

Corporate Governance Author : Robert A. G. Monks
Release : 2008-03-07
Publisher : John Wiley & Sons
ISBN : 1405171065
File Size : 55.24 MB
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The new edition of this successful text offers an indispensable guide to the key concepts of corporate governance every student and business professional should know. It includes more exercises and student questions, penetrating analysis of the latest examples of corporate failure and controversy, and the lively "cases in point" which have characterized previous editions. Features 16 case studies of corporations in crisis, including General Motors, American Express, Time Warner, IBM, and Premier Oil Contains an invaluable web link to The Corporate Library, the leading independent research firm dedicated to corporate governance Includes an Appendix with an overview of CG Guidelines and Codes of Best Practice in Emerging Markets

Professionalizing Leadership

Professionalizing Leadership Author : Barbara Kellerman
Release : 2018-02-02
Publisher : Oxford University Press
ISBN : 019069579X
File Size : 20.30 MB
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Over the last 40 years, the leadership industry has grown exponentially. Yet leadership education, training, and development still fall far short. Moreover, leaders are demeaned, degraded, and derided as they never were before. Why? The problem is leadership has stayed stuck. It has remained an occupation instead of becoming a profession. Unlike medicine and law, leadership has no core curriculum considered essential. It has no widely agreed on metric, or criteria for qualification. And it has no professional association to oversee the conduct of its members or assure minimum standards. Professionalizing Leadership looks to a past in which learning to lead was the most important of eruditions. It looks to a present in which learning to lead is as effortless as ubiquitous. And it looks to a future in which learning to be a leader might look different altogether - it might resemble the far more rigorous process of learning to be a doctor or a lawyer. As it stands now, the military is the only major American institution that gets it right. It assumes leadership is a profession that requires those who practice it to be taught in accordance with high professional standards. Barbara Kellerman draws on the military experience specifically to develop a template for learning how to lead generally. Leadership in the first quarter of the present century is different from what it was even in the last quarter of the past century - which is why leadership taught casually and carelessly should no longer suffice. Professionalizing Leadership addresses precisely the problem of how to prepare leaders in accordance with professional norms. It provides the template necessary for transforming leadership from dubious occupation to respectable profession.

The Oxford Handbook of Corporate Social Responsibility

The Oxford Handbook of Corporate Social Responsibility Author : Andrew Crane
Release : 2008-02-14
Publisher : Oxford University Press on Demand
ISBN : 9780199211593
File Size : 61.66 MB
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CSR encompasses broad questions about the changing relationship between business, society, and government. An authoritative review of the academic research that has both prompted, and responded to, these issues, the text provides clear thinking and perspectives on CSR and the debates around it.

The Public Company Transformed

The Public Company Transformed Author : Brian Cheffins
Release : 2018-09-28
Publisher : Oxford University Press
ISBN : 0190640332
File Size : 68.59 MB
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For decades, the public company has played a dominant role in the American economy. Since the middle of the 20th century, the nature of the public company has changed considerably. The transformation has been a fascinating one, marked by scandals, political controversy, wide swings in investor and public sentiment, mismanagement, entrepreneurial verve, noisy corporate "raiders" and various other larger-than-life personalities. Nevertheless, amidst a voluminous literature on corporations, a systematic historical analysis of the changes that have occurred is lacking. The Public Company Transformed correspondingly analyzes how the public company has been recast from the mid-20th century through to the present day, with particular emphasis on senior corporate executives and the constraints affecting the choices available to them. The chronological point of departure is the managerial capitalism era, which prevailed in large American corporations following World War II. The book explores managerial capitalism's rise, its 1950s and 1960s heyday, and its fall in the 1970s and 1980s. It describes the American public companies and executives that enjoyed prosperity during the 1990s, and the reversal of fortunes in the 2000s precipitated by corporate scandals and the financial crisis of 2008. The book also considers the regulation of public companies in detail, and discusses developments in shareholder activism, company boards, chief executives, and concerns about oligopoly. The volume concludes by offering conjectures on the future of the public corporation, and suggests that predictions of the demise of the public company have been exaggerated.

Pay Without Performance

Pay Without Performance Author : Lucian A. Bebchuk
Release : 2009-07
Publisher : Harvard University Press
ISBN : 9780674020634
File Size : 71.98 MB
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The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.

The Last Male Bastion

The Last Male Bastion Author : Douglas M. Branson
Release : 2009-12-16
Publisher : Routledge
ISBN : 113523437X
File Size : 61.89 MB
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Not until 1997 did a female become chief executive officer of a Fortune 500 corporation (Jill Barad, at Mattel Toy Co. Women’s progress since that time has been in fits and starts, exceedingly slow. The number of women CEOs reached 4 in 1999 only to slide back to 2 in 2001. Meanwhile, while not reaching anything approaching parity, women made significant strides in politics (as senators, cabinet secretaries and governors), in not-for-profit spheres (as CEOs of health care and hospital organizations or of United Way chapters, with budgets of billions of dollars), and at colleges and universities (23 % have female presidents or chancellors). Currently, 3%, or 15, of Fortune 500 CEOs are women. After examining in detail the educations, career progressions, pronouncements and observations, as well as family lives, of the 19 women who have risen to the top (sitting and former CEOs), this book asks, and attempts to answer, two questions: Why haven’t more women reached the CEO suite?How might women in business better position themselves to ascend to the pinnacle?

Indispensable

Indispensable Author : Gautam Mukunda
Release : 2012-08-14
Publisher : Harvard Business Press
ISBN : 1422186717
File Size : 82.26 MB
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Will your next leader be insignificant—or indispensable? The importance of leadership and the impact of individual leaders has long been the subject of debate. Are they made by history, or do they make it? In Indispensable, Harvard Business School professor Gautam Mukunda offers an enticingly fresh look at how and when individual leaders really can make a difference. By identifying and analyzing the hidden patterns of their careers, and by exploring the systems that place these leaders in positions of power, Indispensable sheds new light on how we may be able to identify the best leaders and what lessons we can learn, from both the process and the result. Profiling a mix of historic and modern figures—from Thomas Jefferson and Abraham Lincoln to Winston Churchill and Judah Folkman—and telling the stories of how they came to power and how they made the most important decisions of their lives, Indispensable reveals how, when, and where a single individual in the right place at the right time can save or destroy the organization they lead, and even change the course of history. Indispensable will also help you understand this new model so you can use it in your own life—whether you’re a citizen casting a ballot, an executive choosing your next CEO, or a leader trying to make your mark.

Corporate Governance in the US and Global Settings

Corporate Governance in the US and Global Settings Author : Kose John
Release : 2014-11-20
Publisher : Emerald Group Publishing
ISBN : 1784412910
File Size : 82.90 MB
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Volume 17 of Advances in Financial Economics, entitled "Corporate Governance in the US and Global Settings" will provide further insights into corporate governance in the US & global economic and financial environment by publishing international, within-country and cross-country comparative studies.

Corporate Risk and Governance

Corporate Risk and Governance Author : Alan Waring
Release : 2016-05-13
Publisher : Routledge
ISBN : 1317159403
File Size : 62.94 MB
Format : PDF
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Corporate Risk and Governance addresses corporate risk management and governance requirements affecting large organizations in all industry sectors and countries. The book strongly advocates implementation of Corporate Governance Codes, ISO 31000 Risk Management, ISO 22301 Business Continuity Management and PAS 200 Crisis Management but warns against treating any standard or model slavishly, as if it can offer easy salvation or a simple route to a risk nirvana. Alan Waring challenges many hallowed beliefs, attitudes and practices that continue to hamper the delivery of effective Enterprise Risk Management (ERM) and thereby good governance. Those boardroom and corporate cultures that are complacent about risk exposures and risk management or, worse, encourage ’chancers’ and a ’what can we get away with’ attitude, are examined in depth along with what is required to embed a culture of responsible risk-taking. Some 75 cases from around the world provide graphic examples and lessons to be learned. Although the text includes some summary practical guidance, this book is designed primarily as a thinking aid rather than a risk management cookbook. It is something to encourage better informed risk-decision making; a more informed view of enterprise risk exposures, control and mitigation issues and an awareness of boardroom and corporate culture issues and their impact on effective ERM.

Corporate Governance and Labour Management

Corporate Governance and Labour Management Author : Howard F. Gospel
Release : 2006
Publisher : Oxford University Press on Demand
ISBN : 9780199299232
File Size : 67.37 MB
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Examining how finance and governance influence employment relationships, work organization and industrial relations by means of a comparative analysis of Anglo-American, European and Japanes economies, this book is about the relationship between corporate governance regimes and labour management.

Perspectives on Corporate Governance

Perspectives on Corporate Governance Author : F. Scott Kieff
Release : 2010-07-30
Publisher : Cambridge University Press
ISBN : 1139490559
File Size : 45.66 MB
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The events that began with the collapse of Enron, WorldCom, Tyco, and Adelphia and continued into the financial crisis of 2008 teach us an important lesson: corporate governance matters. Although it is widely acknowledged that good corporate governance is a linchpin of good corporate performance, how can one improve corporate governance and its impact on corporate and overall economic performance. This book offers a diverse and forward-looking set of approaches from experts, covering the major areas of corporate governance reform and analyzing the full range of issues and concerns. Written to be both theoretically rigorous and grounded in the real world, the book is well suited for practicing lawyers, managers, lawmakers, and analysts, as well as academics conducting research or teaching a wide range of courses in law schools, business schools, and economics departments.

Corporate Governance and the Global Financial Crisis

Corporate Governance and the Global Financial Crisis Author : William Sun
Release : 2011-07-21
Publisher : Cambridge University Press
ISBN : 1139497235
File Size : 58.28 MB
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Over the last two decades there has been a notable increase in the number of corporate governance codes and principles, as well as a range of improvements in structures and mechanisms. Despite this, corporate governance failed to prevent a widespread default of fiduciary duties of corporate boards and managerial responsibilities in the finance industry, which contributed to the 2007–10 global financial crisis. This book brings together leading scholars from North America, Europe, Asia-Pacific and the Middle East to provide fresh and critical analytical insights on the systemic failures of corporate governance linked to the global financial crisis. Contributors draw from a range of disciplines to demonstrate the severe limitations of the dominant corporate governance framework and its associated market-oriented approach. They provide suggestions on how the governance problems could be tackled to prevent or mitigate any future financial crisis and explore new directions for post-crisis corporate governance research and reforms.

Corporate Governance, The Firm and Investor Capitalism

Corporate Governance, The Firm and Investor Capitalism Author : Alexander Styhre
Release : 2016-10-28
Publisher : Edward Elgar Publishing
ISBN : 1785364022
File Size : 60.2 MB
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The shift from managerial capitalism to investor capitalism, dominated by the finance industry and finance capital accumulation, is jointly caused by a variety of institutional, legal, political, and ideological changes, beginning with the 1970s’ downturn of the global economy. This book traces how the incorporation of businesses within the realm of the state leads to both certain benefits, characteristic of competitive capitalism, and to the emergence of new corporate governance problems emerges. Contrasting economic, legal, and managerial views of corporate governance practices in contemporary capitalism, the author examines how corporate governance has been understood and advocated differently during the New Deal era, the post-World War II economic boom, and the after 1980 in the era of free market advocacy.

Communication and Language Analysis in the Corporate World

Communication and Language Analysis in the Corporate World Author : Hart, Roderick P.
Release : 2014-01-31
Publisher : IGI Global
ISBN : 1466650001
File Size : 45.53 MB
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While personal variables like age, education, and gender are often thought to contribute to a person’s distinctive speech pattern, corporate environments often develop its own way of communication which include larger scale variables like the economy and organizational traditions. Communication and Language Analysis in the Corporate World provides insight into the verbiage of the corporate world and the influence of this environment for a person’s speech pattern, language, and terminology. This book will provide a guide for language researchers and business leaders alike so that they may find a way to communicate with everyone – customers, colleagues, and CEOs – effectively.

From Higher Aims to Hired Hands

From Higher Aims to Hired Hands Author : Rakesh Khurana
Release : 2010-03-22
Publisher : Princeton University Press
ISBN : 9781400830862
File Size : 80.2 MB
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Is management a profession? Should it be? Can it be? This major work of social and intellectual history reveals how such questions have driven business education and shaped American management and society for more than a century. The book is also a call for reform. Rakesh Khurana shows that university-based business schools were founded to train a professional class of managers in the mold of doctors and lawyers but have effectively retreated from that goal, leaving a gaping moral hole at the center of business education and perhaps in management itself. Khurana begins in the late nineteenth century, when members of an emerging managerial elite, seeking social status to match the wealth and power they had accrued, began working with major universities to establish graduate business education programs paralleling those for medicine and law. Constituting business as a profession, however, required codifying the knowledge relevant for practitioners and developing enforceable standards of conduct. Khurana, drawing on a rich set of archival material from business schools, foundations, and academic associations, traces how business educators confronted these challenges with varying strategies during the Progressive era and the Depression, the postwar boom years, and recent decades of freewheeling capitalism. Today, Khurana argues, business schools have largely capitulated in the battle for professionalism and have become merely purveyors of a product, the MBA, with students treated as consumers. Professional and moral ideals that once animated and inspired business schools have been conquered by a perspective that managers are merely agents of shareholders, beholden only to the cause of share profits. According to Khurana, we should not thus be surprised at the rise of corporate malfeasance. The time has come, he concludes, to rejuvenate intellectually and morally the training of our future business leaders.

No Seat at the Table

No Seat at the Table Author : Douglas M. Branson
Release : 2008-04-01
Publisher : NYU Press
ISBN : 0814791050
File Size : 81.44 MB
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Outside the Lines traces how sports laid a foundation for social change long before the judicial system formally recognized the inequalities of racial separation. Integrating sports teams to include white and black athletes alike, the National Football League served as a microcosmic fishbowl of the highs and lows, the trials and triumphs, of racial integration. Watching a football game on a Sunday evening, most sports fans do not realize the profound impact the National Football League had on the civil rights movement. Similarly, in a sport where seven out of ten players are black, few are fully aware of the history and contributions of their athletic forebears. Among the touchdowns and tackles lies a rich history of African American life and the struggle to achieve equal rights. Although the Supreme Court did not reverse their 1896 decision of "separate but equal" in the Plessy v Ferguson case until more than fifty years later, sports laid a foundation for social change long before our judicial system formally recognized the inequalities of racial separation. Integrating sports teams to include white and black athletes alike, the National Football League served as a microcosmic fishbowl of the highs and lows, the trials and triumphs, of racial integration. In this chronicle of black NFL athletes, Charles K. Ross has given us the story of the Jackie Robinsons of American football.

Back to the Drawing Board

Back to the Drawing Board Author : Colin B. Carter
Release : 2004
Publisher : Harvard Business Press
ISBN : 1578517761
File Size : 72.22 MB
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Business scandals from Enron to WorldCom have escalated concerns about corporate governance into a full-blown crisis. Institutional investors and legislators have dominated the debate and enacted important changes in corporate accounting and other areas. But Colin B. Carter and Jay W. Lorsch say that we must now focus on the performance of corporate boards. This timely book argues that boards are being pressed to perform unrealistic duties given their traditional structure, processes, and membership. Carter and Lorsch propose a strategic redesign of boards--making them better attuned to their oversight, decision-making, and advisory roles--to enable directors to meet 21st century challenges successfully. Based on the authors' deep expertise and longtime experience working with boards around the world, and on a probing survey of CEOs, Carter and Lorsch help boards to develop a realistic value proposition customized to the company they serve. The authors explore the core dilemmas and responsibilities boards face and outline a framework for designing the most effective structure, makeup, size, and culture. This book provides a candid account of the current state of boards and points the way in a time of crisis and change.