Rate this book

Правила лучших CEO. История и принципы работы восьми руководителей успешных компаний (2014)

by William N. Thorndike(Favorite Author)

4.23 of 5 Votes: 3

languge

English

genre

History & Biography

publisher

Манн, Иванов и Фербер

review 1: This is a fascinating and well written collection of profiles. Thorndike shows how CEOs that were focused on free cash flow and thoughtful about capital allocation created enormous long term shareholder value, performing better than their peers, and ridiculously better than the overall market. Unsurprisingly, Warren Buffet looms large over these stories and takes the eighth and final slot.Common traits were a lack of interest in growth at all costs and traditional trappings of power like private jets and huge corporate staffs. I particularly liked the sidebar companies reaching their peak when they build massive and expensive new headquarters. (Ahem, Apple?)(Note that most of these stories take place in the second half of the 20th century.)
review 2: Highly r... moreecommended. A selection of CEOs who outperformed through rational capital allocation.Draws interesting connections to the organization's structure -- extreme decentralization, P&L accountability of units, strong COO which allows the CEO to focus on acquisitions. Interestingly, many of the CEOs also had a fundamental insight about optimizing returns in their business, and we're up against competitors who did not share same insights (at least that is the way the book paints it). These insights ranged from tax efficiency, to high leverage for steady return businesses, to inexpensive insurance float and advantages of larger number of subscribers to amortize cost of premium content.The book also gives useful details on just how dramatic share repurchases and tender offers were, as well as well as provides metrics for some of the deals done by the CEOS (eg EV/EBIT for See's candy was around 6).It is a dramatic illustration of how a very focused CEO given enough latitude and the right business structure can create dramatic value through capital allocation. I think it's worth keeping in mind that this is a sample of some CEOs who produced dramatic results and shared many similarities -- this is not a statistical study of this or other management styles. Still, a fantastic introduction to some teams that were unconventional, set records, and enjoyed themselves in the process. less

Download links for: Правила лучших CEO. История и принципы работы восьми руководителей успешных компаний

Advertising