By looking at the three most recent economic crises, the S&L crisis, the dot-com bubble, and the recent subprime mortgage disaster, the author explains why and how corporate managers led their organizations toward disasters in the long-run.
Table of Contents:
Preface PART I: GENERAL OVERVIEW Introduction Nature of Management Failure PART II: ROLE OF MANAGEMENT LEADERSHIP: REALITIES AND MYTHS Realities of Leadership Contribution Leadership Myths PART III: UNDERLYING ROOT CAUSES OF MANAGEMENT FAILURE Executive Compensation - Unsound and Unjustifiable Practice Corporate Board Governance - Fiduciary Neglect Regulatory Climate - Power of Money Management Club - Collusive Team Playing PART IV: FAILURE OF STRATEGIC MANAGEMENT Absence of Strategic Thinking and Outlook Slanted Management Intelligence Acquisition Lack of Marketplace Competitive Excellence Inadequate Product and Market Innovations Unhealthy Work Environment Reckless Strategic Financial Behaviors PART V: CONCLUSION AND RECOMMENDATIONS Concluding Remarks and Recommendations APPENDIX Suggested Readings Some Organizational Profiles and Shortcomings in Product and Market Developments Bad Economic News - Some Recent Examples and Facts
About the Author :
VINAY KOTHARI is Regents' Professor Emeritus in the College of Business at Stephen F. Austin State University, USA.
Review :
"I find the book highly relevant, scholarly and well-written." - Dr. Subhash C. Jain, Professor & Director of Center for International Business Education and Research, University of Connecticut
"An indispensable companion for any aspiring leader in today's globalized economy." - Nicholas Grigoriou, Principal, Monash College Guangzhou Program, People s Republic of China
"Executive Greed is an excellent and thought provoking read. It is a reality check, and a must read for CEO s, corporate leaders, managers and business school academics. It analyses the short-termism of today s corporate leaders and delivers numerous strategic business-for-tomorrow success tools for CEO s. The book s innovative and competitive customer-focused solutions are highly suitable for corporate long-termism, and for the ongoing growth in shareholder value." - John Hamilton, Associate Professor and Director of E-Business, James Cook University
"The author courageously points his finger at one of the worst illnesses of modern capitalism. He builds a bridge between the theoretical models taught in business schools and the daily practices of business life, where top executives seem to have forgotten the basics of good management in favor of their greed for personal financial gain. His considerations help the reader understand where executive greed originates and how it hurts all stakeholders. The book also provides valid suggestions on how to control executive greed and limit its dramatic consequences, with no fear of shaking up the corporate executive establishment. Something which, nowadays, is well worthy of consideration!" - Riccardo Spinelli,Post-doc Research Fellow, Department of Economics, University of Genoa
"Dr. Kothari delineates the cozy incestuous relationship between the boards and senior executives for mutual gain that perverts the interests of individual shareholders. The horrific impact of executive greed on both companies and countries is explicitly explored. Practical solutions for corporate governance reforms are advocated. All board members, executives, and legislators should scrutinize this study to understand and to avoid the dark side of the free enterprise system which triggers cataclysmic economic crises." - William Bradley Zehner II, PhD, Fellow, IC2 Institute, and Associate Professor of Management at St. Edward s University
"Executive Greed is a fast paced read on "doing the right things" in corporate America instead of "doing things right...for stockholders, that is." From short sighted, short-termed strategy to treating humans inhumanely, Executive Greed seeks to explain the causes, effects, and cures for placing stockholders over an organization's stakeholders. A good read for today's business student to grasp the current business and economic situation facing America and the world." - Charles Fenner, PhD, SUNY
"Dr. Kothari s work is an academic masterpiece of our time- very insightfuland thought provoking-. His brilliant narrative encourages the reader to think deeply on how management has directly contributed to the success/failure of business organizations. Executive Greed will definitely engage the reader to reflection on misguided management practices & the uncertain future that lies ahead." - Dr. Juan C. Barrera, Center for Business & Economics, Elmhurst College
