"The average life expectancy at "birth" of a firm is roughly 15 years, and only one out of twenty lives longer than fifty years. Firms are born, they grow, then they struggle to keep up with changing markets. Slow adapters often become big losers, fall by the wayside, and die.

"This book studies the factors affecting the aging of firms, the factors that slow down the process of adapting to changes in the marketplace. It reviews the recent findings in relevant academic fields - behavioral economics, psychology, neuroscience, organizational science, network theory, anthropology, sociology, and strategy - to understand how firms, as they grow, develop rigidities that prevent change. It then uses those findings to develop a model of organization that is adaptive, innovative, and that can create significant value for its stakeholders for long periods, sometimes for centuries. Such a firm is driven by the passion to make a difference to customers and society; a firm that is led by learners with an ambitious and positive vision; a firm that is organized and that builds on its members' desire to achieve results, and their eagerness to grow and develop; a firm that is quick in developing new capabilities; a firm that, while it focuses thoroughly on execution and results, continuously challenges itself. The book also reflects on how- in building such firms - leaders can help people discover their true passions, build their self-confidence, develop their capabilities, and achieve great goals in their lives. It reflects on how leaders canbe great leaders, on how leaders can build legacies. The book is an insightful page-turner. It combines the fictive, engaging story of a young and ambitious CEO who struggles to save his company from failure, with short, insightful and yet academically thorough reviews of recent developments in science relevant to company adaptation, innovation and growth. "--

'With a guide for building the ultimate firm and making it last, Feser's book offers fresh insights into the need for change.' (Director, April 2012)

Autorentext

CLAUDIO FESER is a Director of McKinsey & Company, where he leads the McKinsey CEO Network, a practice of the company that focuses on CEO training and coaching. Feser previously managed McKinsey offices in Switzerland and Greece. During his career, he has advised the CEOs of some of the world's largest and most renowned companies.

Klappentext

"The average life expectancy at "birth" of a firm is roughly 15 years, and only one out of twenty lives longer than fifty years. Firms are born, they grow, then they struggle to keep up with changing markets. Slow adapters often become big losers, fall by the wayside, and die. Serial Innovators studies the factors affecting the aging of firms, particularly those that slow down their ability to adapt to changes in the marketplace. The book reviews recent findings in relevant academic fields--behavioral economics, psychology, neuroscience, organizational science, network theory, anthropology, sociology, and strategy--to understand how firms, as they grow, develop rigidities that prevent change. It develops a model of organization that is adaptive, innovative, and can create significant value for its stakeholders for long periods of time".

Inhalt

Foreword ix

Prologue xi

Introduction xiii

Part I The Ephemeral Nature of Firms

Chapter 1 Meet Carl Berger 3

Chapter 2 Corporate Life Cycle 11

Part II Individual Rigidities

Chapter 3 To Err is Human 25

Chapter 4 The Greatest of All Time 39

Chapter 5 Rewiring Brains 55

Part III Organizational Rigidities

Chapter 6 Long Live Bureaucracy! 75

Chapter 7 In Brain We Trust 97

Chapter 8 What We Value 111

Chapter 9 What Not to Pay For 121

Chapter 10 Fast Learners 131

Part IV Serial Innovators

Chapter 11 The Secrets of Serial Innovators 139

Chapter 12 Beyond Business: The Medici, Oxford, and the Catholic Church 155

Chapter 13 Legacy through Leadership 161

Afterword 167

Appendix A: Analysis of the Top 50 U.S. Firms of 1960 171

Appendix B: Corporate Aging and Survival 177

Appendix C: Key Questions for Transforming Your Firm 181

References 187

Acknowledgments 193

About the Author 195

Index 197