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Editorial Reviews

The Enron debacle, the demise of Arthur Andersen, questionable practices at Tyco, Qwest, WorldCom, and a seemingly endless list of others have pushed public regard for business and business leaders to new lows. The need for smart leaders with vision and integrity has never been greater. Things need to change—and it will not be easy.

We can take a first step toward producing better business leaders by changing some of our own ideas about what it means to “win.” Noel M. Tichy and Andrew R. McGill have brought together a stellar group of contributors from a variety of perspectives—including General Electric CEO Jeffrey Immelt, former Secretary of State James A. Baker III, and renowned management gurus Robert Quinn and C. K. Prahalad, among others—to offer insights that will help build better leaders, communities, and organizations. They show how to present a “Teachable Point of View” about business ethics that will help all leaders within an organization:

• Internalize core values
• Build a values-based culture across the organization
• Become engaged to teach the same values lessons to their staff
• Take action and raise the ethical bar

Successful business leaders must be able to articulate their own unique Teachable Point of View on business ethics and drive it through their organization to ensure that everyone knows the ethical line and is neither shy nor silent if others risk crossing it.

From the Inside Flap
The Enron debacle, the demise of Arthur Andersen, questionable practices at Tyco, Qwest, WorldCom, and a seemingly endless list of others have pushed public regard for business and business leaders to new lows. The need for smart leaders with vision and integrity has never been greater. Things need to change— and it will not be easy.
We can take a first step toward producing better business leaders by changing some of our own ideas about what it means to “win.” Noel M. Tichy and Andrew R. McGill have brought together a stellar group of contributors from a variety of perspectives— including General Electric CEO Jeffrey Immelt, former Secretary of State James A. Baker III, and renowned management gurus Robert Quinn and C. K. Prahalad, among others— to offer insights that will help build better leaders, communities, and organizations. They show how to present a “Teachable Point of View” about business ethics that will help all leaders within an organization:

• Internalize core values
• Build a values-based culture across the organization
• Become engaged to teach the same values lessons to their staff
• Take action and raise the ethical bar

Successful business leaders must be able to articulate their own unique Teachable Point of View on business ethics and drive it through their organization to ensure that everyone knows the ethical line and is neither shy nor silent if others risk crossing it.

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Editorial Reviews

From Booklist
Gerber has had great success with his previous E-Myth books, and this is the sixth in the series. The E-Myth posits that, because most professional business owners are successful in their field, they assume they are going to be successful entrepreneurs as well, and this assumption often leads to failure. In doctors’ harried world, time is at such a premium that the ability to work on their practice (Systems Thinking) is usually superseded by the need to continue working in their practice (Tactical Thinking). As a result, the practice suffers, with patients frustrated by waiting, a tense and impatient staff, and poor cash flow. The E-Myth teachings show the doctor how to regain control over her practice, not by trying to manage people better (which is impossible) but by creating a repeatable system that anyone can follow to success. By focusing and creating a sound business plan, the physician creates a supportive environment for himself, his staff, and his patients, which allows him to get back to what he does best–healing. David Siegfried
Copyright © American Library Association. All rights reserved

E-Myth \ ‘e-,’mith\ n 1: the entrepreneurial myth: the myth that most people who start small businesses are entrepreneurs 2: the fatal assumption that an individual who understands the technical work of a business can successfully run a business that does that technical work

With The E-Myth Physician, bestselling author Michael Gerber focuses on the business of being a physician, rather than the work of it. He reveals a radical mind-set that will free physicians from the tyranny of the unprofitable, unproductive, perpetual routine — juggling patients, hiring, firing, doing everything that needs to get done.

The E-Myth Physician will teach you how to:

• Implement the ingenious turn-key system, a means of creating a business model that produces consistent, predictable results
• Recognize, understand, and manage the four factors of money — income, profit, flow, and equity — and understand the impact of each on your practice
• Transform your practice and your people while enabling your business to grow exponentially without your having to be there all the time.

Drawing on more than thirty years of experience working with tens of thousands of small business owners, Gerber provides revolutionary, practical, and enlightening insights on how to produce the best real-world results not only in the physician’s practice, but, even more important, in a physician’s life.

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Editorial Reviews

Review
“These incisive and witty essays bring the turbulent decade into sharp perspective.”

“I have known and admired the Marathon investment team for over a decade. They are among the best in the world: fiercely independent, often contrarian and always thought-provoking. their Global Investment Review is must reading in our firm. Capital Account shoudl be studied by every serious investor.”

“In today’s financial markets, heavily populated by momentum traders, chartists and closet indexers, investors are a rare breed. This book, written by investors, is a good guide for people trying to understand how markets work.”

Capital Account relates the story of the world’s greatest investment bubble from the perspective of professional investors. The book, comprised of selected reports from Marathon Asset Management, a successful global investment firm, explains how shareholder value – the notion that companies should be run in the interests of their shareholders – became corrupted in this era of frenzied finance. Senior managers, succumbing to the lure of stock option fortunes, took to manipulating their company’s earnings. Professional investors, interested only in maintaining their investment performance over the next quarter, were willing abettors. The ‘croupiers’ of Wall Street, also know as investment bankers, whipped up the euphoria and peddled to investors superficially plausible stories, ‘MacGuffins’, in order to generate huge fees for themselves. As a result, by the turn of the century almost the entire investment community had become fixated with chasing short-term profits at the expense of long-term returns for clients. By the end of 2002 this cynical game had ended in investment disaster– the world’s stock markets having produced more than $15 trillion of losses since their peak. Yet to a large extent, the outcome was predictable to those investors who had retained a disciplined approach to investment analysis throughout the bull market. This book introduces the ‘capital cycle’ approach to investment – an approach that brings together ideas from the fields of behavioral finance, economic theory and business analysis. Capital cycle analysis - based on the apparently simple insight that investor euphoria leads to excessive investment in the real world and subsequent poor returns for shareholders - enabled Marathon to identify at an early stage the inevitable collapse of the technology and telecoms bubble.

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Editorial Reviews

Review
Five or six years ago, I stopped reading explanations about how Japanese companies operate. My own experience had outstripped the content of most books, the details of which were often inconsistent with my observation and therefore suspect. But Inside the Kaisha meets my tough standards. It introduces a new perspective within a real-world context. I intend to recommend it to members of our organizations and even to hand it to new employees as they come through the door. — William J. Lambert, Executive Vice President & Director, Horizon Systems Lab, Mitsubishi Electric Information Technology CenterAmerica

Yoshimura and Anderson provide a healthy antidote to much of the mumbo jumbo about Japanese business practices perpetrated by journalists, businesspeople, and management consultants. — The New York Times Book Review, March 16, 1997

Even the most experienced and sophisticated businessperson can be caught off guard by the apparent contradictions of Japanese business behavior. This unusual and eloquent book opens the door for Western managers to a deeper and enriched understanding of business encounters as seen through the eyes of their Japanese colleagues.

INSIDE THE KAISHA is an in-depth and sensitive exploration by a Japanese middle manager-a salaryman, now in his thirties, who spent five years at Sumitomo Bank-and an American professor. Only by leaving Sumitomo could Noboru Yoshimura write this book-no Japanese employee currently inside a Japanese organization could report and interpret with such honesty and perspective without fear of rejection. Collaborating with Anderson, who was determined to teach his management students from a global perspective, Yoshimura interviewed dozens of salarymen to paint a distinctive picture of Japanese organizational life-as told to one of their own.

The authors unravel six apparent contradictions in Japanese business conduct, such as why Japanese firms emphasize cooperation yet display fiercely competitive behavior, to help all those who do business with the Japanese understand-and step into-the world of the salaryman. With specific insights that non-Japanese managers can use in everyday business practice and advice from the salarymen to their Western counterparts, Inside the Kaisha gives compelling voice to a new generation of Japanese businesspeople and invaluable wisdom to those who do business with them.

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Editorial Reviews

Up-to-the-minute examples of market-leading companies­­and strategists­­in action

Strategy that is both creative and pragmatic is today’s number one competitive edge. It has been the driving force behind the success of firms, such as McDonald’s and Microsoft, and executives like Sam Walton and Jack Welch. Mastering Strategy examines best practices and examples from these and other companies, CEOs, and academics, and details how executives can benchmark them to overcome new questions and problems in today’s harder-faster-smarter world.

From achieving market leadership to managing change, today’s business leaders must not only stay atop the latest trends, but also understand and improve the core issues that drive their organizations. By distilling scores of resources into one powerful volume, authors Jeffrey Rigsby and Guy Greco have produced a guidebook for creating new and exciting corporate strategy. Examples include:

• Strategies of corporations such as Nike and Proctor & Gamble
• Insights of CEOs from Bill Hewlett to Ray Kroc
• Wisdom of thought leaders from Warren Bennis to Robert Kaplan

From the Back Cover

Competitive strategies of Wal-Mart, McDonald’s, Nike, and more

How Top Global Organizations Use Strategy to Attain Competitive Excellence

To create and maintain a razor-sharp competitive edge, your firm needs strategy that is both creative and practical. The problem is that rapid technological change, increased global competition, and greater customer sophistication have made formulating and executing such strategy more difficult than ever before.

Mastering Strategy shows you how today’s most consistently competitive corporations gather, manage, and synthesize strategic information, then transform that information into action. This frontline review of strategic best practices examines today’s top case studies, articles, and interviews to provide you with:

• Market-proven strategic approaches of corporations from Dell to Proctor & Gamble
• First-hand insights from Bill Gates, Ray Kroc, Sam Walton, and other top CEOs
• Analyses of thought leaders including Warren Bennis, Peter Drucker, Philip Kotler, and others

Because one person or resource cannot possibly have all the answers to today’s most common strategic dilemmas, Mastering Strategy invites everyone to the table. The resulting book goes straight to the source–the companies and decision-makers that are winning the competitive wars today–to synthesize the key strategic factors that are consistently driving breakthrough success in today’s harder-faster-smarter marketplace.

“There is no ‘perfect’ strategic decision. One always has to balance conflicting objectives, conflicting opinions, and conflicting priorities. The best strategic decision is only an approximation–and a risk.”–Peter Drucker

All business involves approximation and risk. True success comes only when you minimize those risks by formulating a sound, workable strategy.

In Mastering Strategy, Jeffrey Rigsby and Guy Greco undertake an exhaustive examination of today’s most respected and influential management thinking and know-how, concentrating on concepts and concerns that hold the greatest importance for corporate decision-makers. By focusing on the three primary organizational leverage points–strategy, design, and culture–Rigsby and Greco uncover a number of consistently recurring strategies among top global competitors that your organization can adopt and adapt to:

• Develop a top-to-bottom, results-oriented strategic planning process
• Leverage your organization’s core competencies–while proactively addressing its faults
• Establish a culture that acts as a catalyst for your strategic initiatives, instead of a roadblock

Mastering Strategy outlines a step-by-step program for monitoring your organization’s strategic drivers and evaluating whether they are helping–or hindering–your competitiveness. It then shows you how to rework existing structures, implement entirely new systems, and equip your organization to compete effectively in today’s evolving global markets, industries, and environments.

How does McDonald’s continue, year in and year out, to fight off competitors and maintain its global dominance? What has Nike done to create and foster its strong Internet presence? Why can FedEx consistently recognize–and implement–the technologies necessary to remain top dog in its hard-fought, no-room-for-error market niche? Mastering Strategy answers these questions and hundreds more, providing you with a hands-on, real-world look at the creation and implementation of today’s most effective, results-based corporate strategies–and how you can use them to dramatically improve your firm’s market share and competitive position.

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Editorial Reviews

From Booklist
Although a work of scholarly research, Harvard professor Michael Porter’s Competitive Advantage: Creating and Sustaining Superior Performance (originally published in 1985 but reissued last year with a new introduction) has gained a wide audience. And now Williams’ research should attract the same audience. Williams is a professor at Carnegie Mellon’s Graduate School of Industrial Administration. Relying on his analysis of 10 years of data from hundreds of companies in 66 industries, he goes beyond Porter to argue that sustaining an advantage is not enough; inevitably, the competition will catch up. Williams shows that this so-called convergence is also predictable. He warns, then, that companies should strategically focus on renewing themselves periodically. With dozens of examples uncovered from his data, he shows how the timeline for convergence varies by product and by industry and how companies have successfully renewed themselves. David Rouse

Review
David Teece Director, Institute of Management, Innovation, and Organization, Haas School of Business, UC Berkeley Jeff Williams has richly illustrated the dynamics of competition in a wide variety of industrial contexts. The focus is on building competitive advantage through innovation and renewal. Provocative, well written, and informed by scholarship. — Review

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Editorial Reviews

The consulting profession has become one of the fastest-growing industries in the ’90s, and observers expect that both the demand for such services and the avocation’s undeniable allure will continue to draw people into the profession. However, management consultant Elaine Biech believes that most newcomers are completely unprepared for the operational realities they encounter. So after two decades of mastering the accounting, marketing, and managing skills necessary to succeed as a consultant, she has organized them into one helpful volume called The Business of Consulting: The Basics and Beyond. Biech considers all phases of a typical consulting business, from start-up and attracting new business to subcontracting and balancing personal and professional responsibilities. An accompanying disk includes various documents and worksheets described in the text. –Howard Rothman

Review
“Here are the nuts and bolts for a successful career in consulting. A few hours with Elaine’s book will save you years of trial and error.” –Jerry C. Noack, , vice president/group publisher, TRAINING Magazine

“If I were just starting into the consulting field today, this is the one book I would choose to advise me, caution me, support me in my business, and ‘professionalize’ me!” –Marjorie Blanchard, , chief financial officer, Blanchard International

“Every consultant should apply her principled practices to guarantee satisfied customers.” –John E. Gherty, , president and chief executive officer, Land O’Lakes

“This book is filled with real-world, practical and proven tactics that can be used to grow and build a successful consulting practice. It is a must-have resource for people who are thinking of becoming a consultant . . . and for those who already are one!” –Dana Gaines Robinson, , author; president, Partners in Change

“The Business of Consulting will serve as my consulting practice workbook. The comprehensive coverage of the subject–along with the practical tips–make it the best tool I have.” –Pam Schmidt, , vice president, American Society for Training and Development (ASTD)

“Read her book. She shares all her secrets!” –Gail Hammack, , regional vice president, McDonald’s

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Editorial Reviews

Businesses will only achieve their true potential, according to Dave Marcum, Steve Smith, and Mahan Khalsa, when the people that run them learn to “think business.” In businessThink, the authors, all corporate veterans now with the FranklinCovey leadership development organization, propose eight rules that create a framework for cultivating this different thought process. “Most people are just going through the motions of doing (not thinking) business–merely practicing their comfortable old routines,” they write. “Others, the really successful ones, are getting killer results through changing their thinking to become more disciplined, rigorous, creative, and sound.” Applicable to any position, from staffer to senior executive, the principles are: check your ego at the door (to develop an open, united atmosphere); create curiosity (to uncover new options); move off the solution (to clarify the issue); get evidence (to clarify the problem); calculate the impact (to weigh investment against return); explore the ripple effect (to view the big picture); slow down for yellow lights (to watch for obstacles); and discover the cause (to understand underlying truths). Each element is fleshed out in one or more chapters that showcase them in identifiable, real-world situations. The combination adds up to a logical, feasible program that virtually everyone can follow. –Howard Rothman

From AudioFile
The authors propose a fresh paradigm for business and personal success. Actually, as in many advice books, what they give are fresh metaphors, which can be useful, even though the underlying concepts may not be all that revolutionary. They read as they write, straightforwardly and clearly, with a minimum of jargon. An accompanying booklet outlines the main points. The title rings too Orwellian for this reviewer’s comfort, and indeed there’s a lot of Newspeak here. Proceed with caution. Y.R. © AudioFile 2003, Portland, Maine– Copyright © AudioFile, Portland, Maine
–This text refers to the

Audio CD
edition.

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Editorial Reviews

From Publishers Weekly
The CEO of Loews Hotels, Tisch preaches a management philosophy of cooperation: forging partnerships with employees, customers, shareholders and communities. A skeptical reader will ask what kind of partnership leaves the author heir to a $21-billion fortune while most of his employee-partners make less than $21,000 per year; the author addresses this question head-on, leaving the executive suite and performing the entry-level jobs in Loews hotels: cleaning, cooking, serving, repairing and checking guests in. The difficulty of these jobs reinforces “how crucial it is for top management to give the front-line people the tools, resources, and freedom they need to carry out their demanding jobs.” He also confronts a union-busting reputation with a set of arguments for and against organized labor. The result is inspiring as an account of the way businesses should be run, but not entirely convincing as an account of the way Loews is actually run: Tisch describes at length how uncomfortable and humiliating the front-line employee uniforms are—but he doesn’t consider changing them because they are cheap to launder. Accounts from other executives who practice partnership management argue strongly for the ideas; this book as a whole gives explicit examples and recipes for applying them with an entertaining mix of analysis and stories.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

From Booklist
Tisch is chairman and CEO of Loews Hotels, which also has sizable interests in the insurance, sports, and tobacco industries. This family business has been extremely successful, in large part a result of the partnerships they have forged–with employees through recognition and rewards, with customers by delivering a unique entertainment experience, and with other businesses and government through promotion of tourism. In June 2003, Tisch spent a week in the “front lines” working as a bellman, waiter, engineer, and housekeeper. His experience gave him new respect for the difficulties his staff endured; he found the polyester room-service uniforms so uncomfortable he decided to change them. Besides detailing how cooperative efforts work in the hotel business, he also profiles the partnership successes of others, such as JetBlue Airways CEO David Neeleman, former president Jimmy Carter and the Carter Foundation, and Jeff Zucker, president of NBC Entertainment. Tisch proves that companies ultimately reap great benefits by looking beyond the bottom line to the needs of people and community. David Siegfried
Copyright © American Library Association. All rights reserved

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Editorial Reviews

Laurence Ackerman is a consultant who specializes in “corporate identity.” While this concept has been around for 50 years, he notes, these days it often encompasses little more than names, symbols, and slogans. Ackerman believes a deeper meaning, one more akin to that defining human identity, should instead be applied in order to tap its true potential. This, he argues, will result in crafting a positive “governing force” that completely shapes an organization and determines the relationship it enjoys with stakeholders. Identity Is Destiny primarily consists of eight “laws” that Ackerman suggests a company must understand before uncovering its true identity and implementing a total operational philosophy that is based upon it. To illustrate these key principles (i.e., organizations are alive, unique, and constant, but growing; true direction and natural drive must be determined before successful strategies can be formulated), he mixes details from his own life with examples from companies with which he has worked (including Upjohn, Maytag, and Korn/Ferry International). Not everyone will agree, or see how it can be applied to his or her own businesses. But those who do will find ideas that could enhance their leadership efforts. –Howard Rothman

Review
” Identity Is Destiny is an insightful book that will help interested readers become exceptional leaders. In walking the reader through the ‘Laws of Identity,’ Ackerman allows one to experience truths that will enable managers to exploit their companies’ inherent profit potential, and create value and wealth if applied to all aspects of day-to-day business. Understanding the simple truths imparted in the pages of this fascinating book will help anyone, at any level, in any business become a wiser, more effective leader.” — Vernon Loucks, Jr., Chairman, Baxter International

“Here is a new management tool for business leaders that answers the toughest of questions: Who are we and what business are we in?” — Jeffrey Fox, CEO, Fox & Company, and author of How to Become a CEO

“Identity Is Destiny is not your garden variety how-to-be-a-leader book. It is a deep, insightful, uplifting account of leadership as a way of living. Ackerman’s natural laws ring true as universal ways that people find identity and mastery by understanding their inner selves, connecting to others, and creating meaningful work that helps organizations and societies prosper. Both personally inspiring and business savva winning combination.” — Rosabeth Moss Kanter, Harvard Business School, author of World Class and Rosabeth Moss Kanter on the Frontiers of Management

“Many books are written each year espousing principles without authenticity. Ackerman’s personal connection to the concept of identity creates an authenticity that makes the book for more credible than most ‘how-to’ business books. Identity Is Destiny is a must-read for any executive looking to unlock the true value and potential of their company.” — David Lebow, Chief Operating Officer, Office of Product and Strategy, AMFM, Inc.

“This book is powerfulit reveals new truths that managers have not been exposed to before. The principles contained within the Laws of Identity are new knowledge in the field.” — Mark Mendenhall, Professor of Business, University of Tennessee

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