Book The outsiders : eight unconventional CEOs and their radically rational blueprint for success / William N. Thorndike, Jr.
Publication year: c2012.
Call Number HD38.25.U6 T56 2012
Media class: Book
Publisher: Boston : Harvard Business Review Press
ISBN: 9781422162675 1422162672
Extent: xix, 251 p. ; ill. ; 22 cm.
What makes a successful CEO? Most people call to mind a familiar definition: "a seasoned manager with deep industry expertise." Others point to the qualities of today's so-called celebrity CEOs - charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? It is the returns for the shareholders of that company over the long term. Author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms' average returns outperformed the S&P 500 by a factor of twenty, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies : General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you'll learn the traits and methods - striking for their consistency and relentless rationality - that helped these leaders achieve such exceptional performance. Humble, unassuming, and often frugal, these "outsiders" shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories : a laser-sharp focus on per share value as opposed to earnings or sales growth ; an exceptional talent for allocating capital and human resources ; and the belief that cash flow, not reported earnings, determines a company's long-term value. Drawing on years of research and experience, Thorndike tells stories, extracting lessons and revealing a compelling alternative model for those interested in leading a company or investing in one and reaping extraordinary returns.
Singletonville -- Introduction : an intelligent iconoclasm -- A perpetual motion machine for returns : Tom Murphy and Capital Cities Broadcasting -- An unconventional conglomerateur : Henry Singleton and Teledyne -- The turnaround : Bill Anders and General Dynamics -- Value creation in a fast-moving stream : John Malone and TCI -- The widow takes the helm : Katharine Graham and the Washington Post Company -- A public LBO : Bill Stiritz and Ralston Purina -- Optimizing the family firm : Dick Smith and General Cinema -- The investor as CEO : Warren Buffett and Berkshire Hathaway -- Radical rationality : the outsider's mind-set -- An example and a checklist -- Appendix. The Buffett test.