But by the late s, this model was tired. Critics charged that managers had become risk-averse bureaucrats with little stake in the lackluster businesses they ran. The intensity and passion so characteristic of their founders had drained away; talk of renewal was in the air.
At the same time, Professor Khurana points out, directors sought to limit the dangers of such an inherently risky step by choosing known quantities — candidates who had held similar positions with high-performing, high-status firms. The result of this was closure of the CEO selection process to market dynamics, with a relatively large number of firms chasing a small pool of celebrity candidates: CEO compensation, which averaged 42 times the blue-collar wage in , had rocketed to a multiple of by As current or former CEOs themselves, directors could regard this development with equanimity.
Despite these outlandish rewards, however, the author suggests that the outsider CEOs have not delivered the goods. Indeed, the evidence is that these CEOs have relatively little impact on the performance of the firms they manage. At the same time as they embarked on this essentially social selection process, corporate boards felt constrained to represent their choice to corporate audiences as rational — in accord with the conventional wisdom about how markets should work.
Enter the go-betweens, the executive search firms ESFs. ESFs, Professor Khurana suggests, are used to buffer the elites from the gritty realities of how things actually get done. But all managers will have to acknowledge that Professor Khurana shows clearly how deep cultural beliefs about the power of individuals to make a difference, perpetuated by business education and media, have contributed to the irrational search for charismatic leaders.
Peter Drucker has suggested that firms that want to see into the future of work might do well to look at the not-for-profit sector. These organizations have always faced the problem of attracting and retaining entrepreneurial knowledge workers, the people who share the values of the organization and are passionate about their work. Many private-sector companies are only now coming to grips with this challenge.
Brook Manville, chief learning officer at Saba Software, and Josiah Ober, a Princeton University professor, have taken another approach by going back to look at the cradle of knowledge and community values itself: ancient Athens.
There the first democracy flourished during the 5th and 4th centuries b. This is not a tale of seamless success: Athens went through periods of boom and bust, triumph and defeat.
But its processes and structures proved resilient in the face of adversity because they were traditional and radical at the same time, allowing new solutions while preserving the best from the past. Each of the tribes sent 50 men a year to be members of the Council of , which was a hotbed of ideas we might call it an incubator today fostered by citizens working across class, experiential, and geographical boundaries.
The authors know their history, and this must be one of the most detailed studies of Athenian democracy accessible to the general reader. The implications for modern private-sector organizations, however, remain sketchy. Inhabitants of firms that resemble the austere Sparta more closely than the free-spirited Athens might wonder how leadership through persuasion and vision could ever replace a command-and-control tyranny.
The use of the Athenian model also raises the question of why our political processes no longer resemble those of the first democracy. It also makes one wonder about the appropriateness of the comparison between ancient city-state and modern corporation. How democratic can a corporation, with its narrow purposes and complex technology, really be? Perhaps at the root of the problem is our unrealistic notion of how quickly organizations can change. As such, it is in the tradition of many other writings that have called for the greater democratization of the workplace and empowerment of those who work in it.
But the actual change may take generations, and its goals will never be fully realized. This passionate vision of ancient Athens, however, reminds managers that the struggle is worth the effort.
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Sign up No, thanks. Most Popular 1. How to jump-start innovation and organizational change 2. Do sweat the small stuff when it comes to inclusion 3. Leaders need to be good writers, too 4. Closing the agile achievement gap 5. Forces of nature. First, in a repeating game, there can be strategic advantages to having your opponent know or at least believe that you are playing such a strategy.
And if your opponent is a step ahead of you or a level above you , he may have anticipated or even set up your new strategy, and has already prepared to take advantage. If you believe you are, then, by all means, exploit away. Was I right? Just found your website a few weeks ago via the Dennis Rodman series. Very enjoyable. Still a lot of good reads and well-explained enough that a layman can get it.
Anyway, the other sports blogs you link to you are either stats or game-specific. That is, physiology. The site reminds me of yours in terms of the depth of analysis they get into and the obvious enjoyment and fascination they have for their subject matter.
For the record, I have no connection to the authors. I just like their writing. For each correct guess, a contestant received 5 points. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. Both competition and cooperation are the inseparable part of business operation. Companies need to develop their strategies based on how to compete and cooperate at the same time.
Any strategy that aims to achieve benefit at the expense of others will trigger strong countermeasures, which often make your original efforts end in vain. The co-opetition strategy, derived from the game theory, is a revolutionary strategic thinking about how to create and capture value. In a changing economic world, the adoption of such a strategy will help us change the game of business and secure a favorable position in the game.
The joint success that Coca-Cola and Pepsi have achieved is largely the result of their trading off between competition and cooperation. The next few years will still see a growing Chinese economy, and most of sectors in China will continue to be fast-growing markets. RMB34, Programme Fee includes tuition, case licensing fees, lunches, stationery, other course materials, interpretation and translation fees if required. The full fee must be paid within two weeks upon receipt of the payment notice.
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