Author: Paul B. Carroll
Publisher: Penguin
ISBN: 1440630100
Category : Business & Economics
Languages : en
Pages : 324
Book Description
”This book is your chance to learn from others’ mistakes.”-- Entrepreneur In the 1960s, IBM CEO Tom Watson called an executive into his office after his venture lost $10 million. The man assumed he was being fired. Watson told him, “Fired? Hell, I spent $10 million educating you. I just want to be sure you learned the right lessons.” There are thousands of books about successful companies but virtually none about the lessons to be learned from those that crash and burn. Now Paul Carroll and Chunka Mui draw on research into more than 750 flameouts to reveal the seven biggest reasons for business failure.
Billion Dollar Lessons
Author: Paul B. Carroll
Publisher: Penguin
ISBN: 1440630100
Category : Business & Economics
Languages : en
Pages : 324
Book Description
”This book is your chance to learn from others’ mistakes.”-- Entrepreneur In the 1960s, IBM CEO Tom Watson called an executive into his office after his venture lost $10 million. The man assumed he was being fired. Watson told him, “Fired? Hell, I spent $10 million educating you. I just want to be sure you learned the right lessons.” There are thousands of books about successful companies but virtually none about the lessons to be learned from those that crash and burn. Now Paul Carroll and Chunka Mui draw on research into more than 750 flameouts to reveal the seven biggest reasons for business failure.
Publisher: Penguin
ISBN: 1440630100
Category : Business & Economics
Languages : en
Pages : 324
Book Description
”This book is your chance to learn from others’ mistakes.”-- Entrepreneur In the 1960s, IBM CEO Tom Watson called an executive into his office after his venture lost $10 million. The man assumed he was being fired. Watson told him, “Fired? Hell, I spent $10 million educating you. I just want to be sure you learned the right lessons.” There are thousands of books about successful companies but virtually none about the lessons to be learned from those that crash and burn. Now Paul Carroll and Chunka Mui draw on research into more than 750 flameouts to reveal the seven biggest reasons for business failure.
The Outsiders
Author: William Thorndike
Publisher: Harvard Business Press
ISBN: 1422162672
Category : Business & Economics
Languages : en
Pages : 274
Book Description
It's time to redefine the CEO success story. Meet eight iconoclastic leaders who helmed firms where returns on average outperformed the S&P 500 by more than 20 times.
Publisher: Harvard Business Press
ISBN: 1422162672
Category : Business & Economics
Languages : en
Pages : 274
Book Description
It's time to redefine the CEO success story. Meet eight iconoclastic leaders who helmed firms where returns on average outperformed the S&P 500 by more than 20 times.
Winning Now, Winning Later
Author: David M. Cote
Publisher: HarperCollins Leadership
ISBN: 1599510227
Category : Business & Economics
Languages : en
Pages : 296
Book Description
LEARN HOW TO GROW YOUR BUSINESS IN A TOUGH ECONOMY In this unpredictable business landscape, everyone is struggling to choose between chasing short-term objectives and creating a secure future for their company, but both are crucial. As CEO of Honeywell, David Cote understood this dilemma well. He turned the company around despite facing the 2008 recession. In these pages, he shows you how taking the same revolutionary approach might be the smartest business decision you’ll ever make. Presenting a comprehensive solution to a perennial problem, Winning Now, Winning Later is a go-to guide for you and leaders everywhere to finally transcend short-termism’s daily grind and leave an enduring legacy of success. This tested and proven approach can strengthen your business like never before and even rescue it from the brink of disaster, no matter how dire the current circumstances may seem. In Winning Now, Winning Later, Cote shares 10 essential principles for winning today and tomorrow such as: Spot business practices that seem attractive in the short term but will cost the company in the future Determine where and how to invest in growth initiatives for maximum impact Sustain both short-term performance and long-term investments even in challenging times, such as a recession or leadership transition Feel inspired to stand up to investors and managers who are solely focused on either short- or long-term company objectives Step back and foster independent thinking among those around you
Publisher: HarperCollins Leadership
ISBN: 1599510227
Category : Business & Economics
Languages : en
Pages : 296
Book Description
LEARN HOW TO GROW YOUR BUSINESS IN A TOUGH ECONOMY In this unpredictable business landscape, everyone is struggling to choose between chasing short-term objectives and creating a secure future for their company, but both are crucial. As CEO of Honeywell, David Cote understood this dilemma well. He turned the company around despite facing the 2008 recession. In these pages, he shows you how taking the same revolutionary approach might be the smartest business decision you’ll ever make. Presenting a comprehensive solution to a perennial problem, Winning Now, Winning Later is a go-to guide for you and leaders everywhere to finally transcend short-termism’s daily grind and leave an enduring legacy of success. This tested and proven approach can strengthen your business like never before and even rescue it from the brink of disaster, no matter how dire the current circumstances may seem. In Winning Now, Winning Later, Cote shares 10 essential principles for winning today and tomorrow such as: Spot business practices that seem attractive in the short term but will cost the company in the future Determine where and how to invest in growth initiatives for maximum impact Sustain both short-term performance and long-term investments even in challenging times, such as a recession or leadership transition Feel inspired to stand up to investors and managers who are solely focused on either short- or long-term company objectives Step back and foster independent thinking among those around you
Play It Right
Author: Kamal Gupta
Publisher: ECW Press
ISBN: 1773059645
Category : Biography & Autobiography
Languages : en
Pages : 296
Book Description
A real-life underdog tale of one man turning the tables on the casinos and Wall Street without selling his soul to the devil All around the world, the words “Wall Street” conjure up a powerful image. For some, it is the center of America’s capitalist system and the engine of its economic growth. For others, it is the home of rapacious bankers and reckless traders whose greed would lead to a global financial crisis. For an Indian-born blackjack player, Wall Street represented something else entirely — a chance for him to play in the largest casino in the world. Kamal Gupta’s improbable journey, from a wide-eyed Indian immigrant to an ultimate insider in the rarefied world of investment banks and hedge funds, is a uniquely American story. Nowhere else would it have been possible for a scrawny computer scientist to enter the world of high finance solely on the basis of his gambling abilities. After spending seven years creating an investment methodology, Gupta went on an incredible run, generating an unprecedented 103 consecutive months of positive returns while managing money at large hedge funds. His success did not go unnoticed, and he found himself under constant pressure to take bigger risks to make even more money. He refused and always played it right, knowing that there was such a thing as “enough” money, something very few, if any, of his Wall Street peers understood. Much like Maria Konnikova’s bestseller, The Biggest Bluff, Play It Right isn’t so much about money as it is about the human condition and beating the odds, whether at a casino, on Wall Street, or in life itself.
Publisher: ECW Press
ISBN: 1773059645
Category : Biography & Autobiography
Languages : en
Pages : 296
Book Description
A real-life underdog tale of one man turning the tables on the casinos and Wall Street without selling his soul to the devil All around the world, the words “Wall Street” conjure up a powerful image. For some, it is the center of America’s capitalist system and the engine of its economic growth. For others, it is the home of rapacious bankers and reckless traders whose greed would lead to a global financial crisis. For an Indian-born blackjack player, Wall Street represented something else entirely — a chance for him to play in the largest casino in the world. Kamal Gupta’s improbable journey, from a wide-eyed Indian immigrant to an ultimate insider in the rarefied world of investment banks and hedge funds, is a uniquely American story. Nowhere else would it have been possible for a scrawny computer scientist to enter the world of high finance solely on the basis of his gambling abilities. After spending seven years creating an investment methodology, Gupta went on an incredible run, generating an unprecedented 103 consecutive months of positive returns while managing money at large hedge funds. His success did not go unnoticed, and he found himself under constant pressure to take bigger risks to make even more money. He refused and always played it right, knowing that there was such a thing as “enough” money, something very few, if any, of his Wall Street peers understood. Much like Maria Konnikova’s bestseller, The Biggest Bluff, Play It Right isn’t so much about money as it is about the human condition and beating the odds, whether at a casino, on Wall Street, or in life itself.
Michael O'Leary
Author: Matt Cooper
Publisher: Penguin UK
ISBN: 0241315646
Category : Business & Economics
Languages : en
Pages : 330
Book Description
Financial Times Business Book of the Month September 2017. Ryanair cancels over 700,000 bookings and its powerful PR juggernaut comes shuddering to a halt. For once, the airline's aggressive and flamboyant CEO, Michael O'Leary, is contrite and apologetic. A month later Ryanair announces increased passenger traffic for October, year-on-year growth and increased profits. Its share price soars. For the moment, it appears, a fundamental shake-up of Europe's biggest airline is off the table. But questions remain about the causes of the debacle and O'Leary's role in it. Michael O'Leary lifts the veil on the wildly successful and wildly controversial Ryanair CEO. Based on extensive research - including with close associates of O'Leary - the book examines O'Leary's personality, beliefs and obsessions and describes how these have moulded the business he runs. Written by a multi-award-winning journalist and broadcaster, with a thirty-year career covering business and current affairs, it is a fascinating insight into the business behind the man, and the man behind the business. 'Fascinating book ... very comprehensive' Eamon Dunphy, The Stand 'An indispensable guide for anyone who wants to understand not just where Michael O'Leary and Ryanair are coming from, but where they are going.' Sunday Business Post 'A frequently enlightening unauthorised biography ... entertaining' Irish Independent 'In a world of colourless corporate leaders, Ryanair's aggressive, mouthy chief executive provides catnip for journalists. Cooper, an award-winning Irish writer and reporter, makes the most of the opportunity to dissect his colourful subject' Book of the Month, The Financial Times
Publisher: Penguin UK
ISBN: 0241315646
Category : Business & Economics
Languages : en
Pages : 330
Book Description
Financial Times Business Book of the Month September 2017. Ryanair cancels over 700,000 bookings and its powerful PR juggernaut comes shuddering to a halt. For once, the airline's aggressive and flamboyant CEO, Michael O'Leary, is contrite and apologetic. A month later Ryanair announces increased passenger traffic for October, year-on-year growth and increased profits. Its share price soars. For the moment, it appears, a fundamental shake-up of Europe's biggest airline is off the table. But questions remain about the causes of the debacle and O'Leary's role in it. Michael O'Leary lifts the veil on the wildly successful and wildly controversial Ryanair CEO. Based on extensive research - including with close associates of O'Leary - the book examines O'Leary's personality, beliefs and obsessions and describes how these have moulded the business he runs. Written by a multi-award-winning journalist and broadcaster, with a thirty-year career covering business and current affairs, it is a fascinating insight into the business behind the man, and the man behind the business. 'Fascinating book ... very comprehensive' Eamon Dunphy, The Stand 'An indispensable guide for anyone who wants to understand not just where Michael O'Leary and Ryanair are coming from, but where they are going.' Sunday Business Post 'A frequently enlightening unauthorised biography ... entertaining' Irish Independent 'In a world of colourless corporate leaders, Ryanair's aggressive, mouthy chief executive provides catnip for journalists. Cooper, an award-winning Irish writer and reporter, makes the most of the opportunity to dissect his colourful subject' Book of the Month, The Financial Times
The Promises of Giants
Author: John Amaechi
Publisher: Nicholas Brealey
ISBN: 1529345928
Category : Business & Economics
Languages : en
Pages : 224
Book Description
"THE MOST UNLIKELY OF PEOPLE, IN THE MOST IMPROBABLE OF CIRCUMSTANCES, CAN BECOME EXTRAORDINARY." WE NEED MORE LEADERS. From socio-political chaos and workplace disruption to the climate change crisis, we have never needed people with the skill and will to collaborate to create a better world more than now. We need people who are willing to fill the leadership void. People who will embrace the influence they have. People who believe in improving society and workplace culture - not only because it makes life better, but because it is proven to yield positive results. The Promises of Giants is a challenge to anyone who aspires to make a difference in their environment. Over fourteen promises, it seamlessly intertwines personal anecdotes and workplace and social observation with the latest research, to provide practical, proven tips and strategies to empower you to maximize your own potential and inspire others. It is not a self-help book. It is a how-to guide for winning, rooted in the belief that the most unlikely of people, in the most improbable of circumstances, can become extraordinary. John Amaechi well understands the responsibilities and potential that come with being a giant. The Promises of Giants is the product of a lifetime spent observing and studying effective leadership - from accompanying his mother's visits to her dying patients to competing at the highest levels of professional sport, through two decades of management consulting with multinational corporations. These experiences have shown that everyone has the ability to act decisively to influence the world in a positive way. Everyone is a giant to someone.
Publisher: Nicholas Brealey
ISBN: 1529345928
Category : Business & Economics
Languages : en
Pages : 224
Book Description
"THE MOST UNLIKELY OF PEOPLE, IN THE MOST IMPROBABLE OF CIRCUMSTANCES, CAN BECOME EXTRAORDINARY." WE NEED MORE LEADERS. From socio-political chaos and workplace disruption to the climate change crisis, we have never needed people with the skill and will to collaborate to create a better world more than now. We need people who are willing to fill the leadership void. People who will embrace the influence they have. People who believe in improving society and workplace culture - not only because it makes life better, but because it is proven to yield positive results. The Promises of Giants is a challenge to anyone who aspires to make a difference in their environment. Over fourteen promises, it seamlessly intertwines personal anecdotes and workplace and social observation with the latest research, to provide practical, proven tips and strategies to empower you to maximize your own potential and inspire others. It is not a self-help book. It is a how-to guide for winning, rooted in the belief that the most unlikely of people, in the most improbable of circumstances, can become extraordinary. John Amaechi well understands the responsibilities and potential that come with being a giant. The Promises of Giants is the product of a lifetime spent observing and studying effective leadership - from accompanying his mother's visits to her dying patients to competing at the highest levels of professional sport, through two decades of management consulting with multinational corporations. These experiences have shown that everyone has the ability to act decisively to influence the world in a positive way. Everyone is a giant to someone.
The New Goliaths
Author: James Bessen
Publisher: Yale University Press
ISBN: 0300255047
Category : Business & Economics
Languages : en
Pages : 271
Book Description
In an age of dwindling economic competition, instead of breaking up corporate giants, we need to compel them to share their technology, data, and knowledge
Publisher: Yale University Press
ISBN: 0300255047
Category : Business & Economics
Languages : en
Pages : 271
Book Description
In an age of dwindling economic competition, instead of breaking up corporate giants, we need to compel them to share their technology, data, and knowledge
Accounting for Growth
Author: Terry Smith
Publisher: Random House Business Books
ISBN:
Category : Business & Economics
Languages : en
Pages : 230
Book Description
This new edition of Accounting for Growth is a ruthless exposure of the accountancy practices which are used to bemuse the investing public and cast a rosy glow over the accounts of companies which in some cases were on the verge of bankruptcy.
Publisher: Random House Business Books
ISBN:
Category : Business & Economics
Languages : en
Pages : 230
Book Description
This new edition of Accounting for Growth is a ruthless exposure of the accountancy practices which are used to bemuse the investing public and cast a rosy glow over the accounts of companies which in some cases were on the verge of bankruptcy.
Common Stocks and Common Sense
Author: Edgar Wachenheim, III
Publisher: John Wiley & Sons
ISBN: 1119259932
Category : Business & Economics
Languages : en
Pages : 140
Book Description
Deep insight and candid discussion from one of Wall Street's best investors Common Stocks and Common Sense provides detailed insight into common stock investing, using a case-study approach based on real-world investments. Author Edgar Wachenheim is the 28-year CEO of Greenhaven Associates, boasting an average annual portfolio comparable to Warren Buffet's. In this book, he shares his knowledge and experiences by providing detailed analyses of actual investments made by himself and other investors. The discussion covers the entire investment process, including the softer, human side, with candid insight into the joys and frustrations, intensities and pressures, and risks and uncertainties. The unique emphasis on behavioral economics and real-world cases set this book apart from the herd—but it's Wachenheim himself and his deeply-examined perspective that elevates the book beyond a mere investing guide. Between 1990 and 2014, a typical portfolio managed by Wachenheim enjoyed an average annual return in excess of 18%, achieved using relatively conservative stocks and no financial leverage. As a proponent of evidence and example, his analysis of real cases serve as a valuable education for anyone looking to improve their own investment practices. Understand investment through the lens of a Wall Street leader Dig into the details of real-world common stock investing Learn how to invest creatively and minimize risk Go beyond theory to study strategy on a case-by-case basis Investment principles and strategies are easy to find—entire libraries have been written about theories and methods and what 'should' happen. But this book goes beyond the typical guide to show you how these ideas are applied in the real world—and what actually happened. Investors seeking real insight, real expertise, and a proven track record will find Common Stocks and Common Sense a uniquely useful resource.
Publisher: John Wiley & Sons
ISBN: 1119259932
Category : Business & Economics
Languages : en
Pages : 140
Book Description
Deep insight and candid discussion from one of Wall Street's best investors Common Stocks and Common Sense provides detailed insight into common stock investing, using a case-study approach based on real-world investments. Author Edgar Wachenheim is the 28-year CEO of Greenhaven Associates, boasting an average annual portfolio comparable to Warren Buffet's. In this book, he shares his knowledge and experiences by providing detailed analyses of actual investments made by himself and other investors. The discussion covers the entire investment process, including the softer, human side, with candid insight into the joys and frustrations, intensities and pressures, and risks and uncertainties. The unique emphasis on behavioral economics and real-world cases set this book apart from the herd—but it's Wachenheim himself and his deeply-examined perspective that elevates the book beyond a mere investing guide. Between 1990 and 2014, a typical portfolio managed by Wachenheim enjoyed an average annual return in excess of 18%, achieved using relatively conservative stocks and no financial leverage. As a proponent of evidence and example, his analysis of real cases serve as a valuable education for anyone looking to improve their own investment practices. Understand investment through the lens of a Wall Street leader Dig into the details of real-world common stock investing Learn how to invest creatively and minimize risk Go beyond theory to study strategy on a case-by-case basis Investment principles and strategies are easy to find—entire libraries have been written about theories and methods and what 'should' happen. But this book goes beyond the typical guide to show you how these ideas are applied in the real world—and what actually happened. Investors seeking real insight, real expertise, and a proven track record will find Common Stocks and Common Sense a uniquely useful resource.
Hidden Champions of the Twenty-First Century
Author: Hermann Simon
Publisher: Springer Science & Business Media
ISBN: 0387981470
Category : Business & Economics
Languages : en
Pages : 412
Book Description
Chapter 5: Customers, Products, Services . . . . . . . . . . . . . 129 Close Customer Relations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 Customer Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Dependence on the Customer and Risk Aspects . . . . . . . . . . . . . . . . . 135 Achieving Closeness to Customer . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 Product and Service Spectrum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156 Chapter 6: Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 What Does Innovation Mean?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 High Level of Innovativeness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Driving Forces of Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 The Origin of Innovations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176 Leadership and Organizational Aspects of Innovation . . . . . . . . . . . . 179 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187 Chapter 7: Competition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 Competitive Structure and Conduct . . . . . . . . . . . . . . . . . . . . . . . . . . 191 The Hidden Champions in the Light of Porter’s “Five Forces” . . . . . 195 Competitive Advantages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 Sustainability of Competitive Advantages . . . . . . . . . . . . . . . . . . . . . . 203 Demonstration of Competitive Superiority . . . . . . . . . . . . . . . . . . . . 205 Competitive Edge and Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207 Sparring Partners for Competitive Fitness . . . . . . . . . . . . . . . . . . . . . . 214 Excessive Competitive Orientation . . . . . . . . . . . . . . . . . . . . . . . . . . . 217 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 218 Chapter 8: Financing, Organization, and Business Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224 Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 228 Contents ix Organization of the Value Chain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237 Business Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249 Entrepreneurial Clusters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Chapter 9: Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257 Job Creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257 Corporate Culture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 260 Quali?cations and Learning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 Creativity of Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 278 Recruiting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 282 Chapter 10: The Leaders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 285 Structures of Ownership and Leadership . . . . . . . . . . . . . . . . . . . . . . 286 How Crucial Is Leadership? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289 Leadership Continuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289 Young to the Top . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293 Powerful Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294 Internationalization of Management . . . . . . . . . . . . . . . . . . . . . . . . . . 298 Personalities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 Leadership Styles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 Management Succession . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 306 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310 Chapter 11: Hidden Champions: Audit and Strategy Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315 What Is Strategy? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 316 Hidden Champion Strategy: For Whom? . . . . . . . . . . . . . . . . . . . . . . 316 Hidden Champions – Audits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 317 Strategy Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325 Strategies for Value Propositions and Pricing . . . . . . . . . . . . . . . . . . . 335 Organization and Implementation . . . . . . . . . . . . . . . . . . . . . . . . . . .
Publisher: Springer Science & Business Media
ISBN: 0387981470
Category : Business & Economics
Languages : en
Pages : 412
Book Description
Chapter 5: Customers, Products, Services . . . . . . . . . . . . . 129 Close Customer Relations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 Customer Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Dependence on the Customer and Risk Aspects . . . . . . . . . . . . . . . . . 135 Achieving Closeness to Customer . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 Product and Service Spectrum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156 Chapter 6: Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 What Does Innovation Mean?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 High Level of Innovativeness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Driving Forces of Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 The Origin of Innovations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176 Leadership and Organizational Aspects of Innovation . . . . . . . . . . . . 179 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187 Chapter 7: Competition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 Competitive Structure and Conduct . . . . . . . . . . . . . . . . . . . . . . . . . . 191 The Hidden Champions in the Light of Porter’s “Five Forces” . . . . . 195 Competitive Advantages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 Sustainability of Competitive Advantages . . . . . . . . . . . . . . . . . . . . . . 203 Demonstration of Competitive Superiority . . . . . . . . . . . . . . . . . . . . 205 Competitive Edge and Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207 Sparring Partners for Competitive Fitness . . . . . . . . . . . . . . . . . . . . . . 214 Excessive Competitive Orientation . . . . . . . . . . . . . . . . . . . . . . . . . . . 217 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 218 Chapter 8: Financing, Organization, and Business Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224 Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 228 Contents ix Organization of the Value Chain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237 Business Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249 Entrepreneurial Clusters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Chapter 9: Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257 Job Creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257 Corporate Culture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 260 Quali?cations and Learning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 Creativity of Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 278 Recruiting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 282 Chapter 10: The Leaders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 285 Structures of Ownership and Leadership . . . . . . . . . . . . . . . . . . . . . . 286 How Crucial Is Leadership? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289 Leadership Continuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289 Young to the Top . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293 Powerful Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294 Internationalization of Management . . . . . . . . . . . . . . . . . . . . . . . . . . 298 Personalities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 Leadership Styles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 Management Succession . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 306 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310 Chapter 11: Hidden Champions: Audit and Strategy Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315 What Is Strategy? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 316 Hidden Champion Strategy: For Whom? . . . . . . . . . . . . . . . . . . . . . . 316 Hidden Champions – Audits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 317 Strategy Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325 Strategies for Value Propositions and Pricing . . . . . . . . . . . . . . . . . . . 335 Organization and Implementation . . . . . . . . . . . . . . . . . . . . . . . . . . .