Newspaper article THE JOURNAL RECORD

The Real Scoop Behind Corporate Management

Newspaper article THE JOURNAL RECORD

The Real Scoop Behind Corporate Management

Article excerpt

NEW YORK -- So many new theories on business management are published each year you might think there has been a revolution in the operation of American industry.

It isn't so. Take it from Harold Geneen, who at one and the same time managed 350,000 workers in 200 companies assembled in 20 groups, all operating as segments of the $28 billion ITT Corp.

And, as he said in an interview, as he had said so many times before, he had the time of his life doing it. So much fun that when he "retired" he created small companies and again built a fortune. And that is what he does now at age 87, working 10 hours each day, applying the same horse sense and logic to small businesses as he did to the big ones, and looking for more challenges. "Financially, I have done better on my own than I did the 18 years I worked at ITT," he says. "Growth is fulfillment," he explains, referring to his enterprises. That is his philosophy. "I want something to grow," he says."It's the right thing to do." Money, he says, is only the scorecard. He wants his book sales to grow too. The Synergy Myth is straight from the master's mind, clear, direct, passionate, outspoken, honest and, you might say, real. Real, because Geneen's theses emerge from the marketplace rather than the classroom, surveys or analyses. Although firmly stated, they aren't dictates, but neither are they mere slogans. As before, he excoriates such accepted wisdom as downsizing, re- engineering and, yes, synergy, and what "passes for wisdom in some books and business schools." He is clearly and profoundly irritated by ersatz wisdom dressed in designer book jackets, loaded with slogans or professorial insights, and promoted as the latest thing. "Baloney is baloney," he says. "And there's a lot of it today.... There is no secret, no magic formula, just the old-fashioned virtues of hard work, honesty, and risk-taking." And a passion for facts: "Not all facts are facts." You must dig for them. And you must have "the gumption to take risks." And "read a lot, listen a lot, work a lot, and observe a lot." For emulators, this is a large order. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.