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Churchill's Horses and the Myths of American Corporations: Power, Stakeholders, and Governance

Autor Mord Bogie
en Limba Engleză Hardback – 11 feb 1998 – vârsta până la 17 ani
The large public corporations powering the U.S. economy-Churchill's Horses, in Bogie's metaphor-are underachievers, and all of us are paying the price. Why? The reasons are shrouded in the myths that these corporations use to mask their great power and disguise the interests it serves. Myth: the shareholders who own a public corporation control it by electing the directors who govern it. Anti-Myth (fact): shareholders of a public corporation don't elect the directors, and the directors don't govern the corporation. Shareholders don't even own the corporation in any meaningful sense of the word. Yet Churchill's Horses spend billions propping up the current price of their shares rather than invest the money in their (and our) future prosperity. Using many voices from current and recent business literature, Bogie leads you through myths and anti-myths to understand how public corporations have lost focus and ignored their most important stakeholders. Few readers will emerge with all their assumptions and beliefs intact.
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Specificații

ISBN-13: 9781567200737
ISBN-10: 1567200737
Pagini: 232
Dimensiuni: 156 x 235 x 23 mm
Greutate: 0.55 kg
Ediția:New.
Editura: Bloomsbury Publishing
Colecția Praeger
Locul publicării:New York, United States

Notă biografică

MORD BOGIE is a consultant, former lawyer, U.S. foreign aid official, and corporate executive with business experience on five continents. He graduated from Princeton in public and international affairs and, after service in the Marine Corps, from Harvard Law School. He lives with his wife, Sharon Nickles, a computer consultant, in Beacon, New York. This is his first book.

Cuprins

Introduction: Our Underachieving CorporationsControlCorporations Are Nothing More or Less Than Their PeoplePublic Corporations Are Just Private Corporations with Many OwnersThe Owners of a Public Corporation Control It by Electing Its DirectorsThe First Concern of Public Corporation Management Is Shareholder ValueShareholdersCorporations Maximize Shareholder Value by Maximizing Current ProfitCorporate Profit Is the Best Measure of Real Shareholder ValueCorporate Profit Is Owned by the Shareholders Who Own the CorporationCorporations Exist to Maximize Shareholder ValueCustomersCorporations Engage in Marketing to Satisfy Their Customers' NeedsCorporations Invest in Brands to Increase Customer ValueCorporations Are Required by Supply & Demand to Charge Their Lowest PricesCorporations Innovate to Satisfy Their Customer's NeedsManagersCorporate Management Is EntrepreneurialCorporate Management Is StrategicProfessional Managers Can Run Any Corporate BusinessCorporate Management Is Strong Because It's Team ManagementCEOsIn Public Corporations the CEO Is Controlled by Independent DirectorsCEOs Are Paid What They Are WorthCEO Compensation Is Linked to Corporate PerformanceCEOs Devote Full Time to Managing Their CorporationWorkersPublic Corporations Are Proficient at Motivating Their WorkersCorporations Stay Competitive in a Global Economy by DownsizingCorporations Have to Lay Off Workers When Business Is BadRaising Productivity Benefits Workers by Raising What They EarnCapitalistsWall Street's Primary Function Is Raising Money for Public CorporationsInvestment Bankers Serve the Interests of Clients and Investors SimultaneouslyThe Market Is a Level Trading Field for Public InvestorsWall Street's Influence on Public Corporations Is BeneficialAfterword: We Are All Consumers, We Are All WorkersTable of Anti-MythsNotes on SourcesSelected BibliographyIndex