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Books : Business, Finance & Law : Biographies & Histories
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Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s in the US. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, every financial bubble since 1929 has been compared to the Great Crash, which is why this book has never been out of print since it became a bestseller in 1955.
Galbraith writes with great wit and erudition about the perilous actions of investors and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell: "The ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler, Amazon.com
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Love him or loathe him, you've got to admit it, Richard Branson has drive. And guts. And enough ambition to sink a battleship--or perhaps that should be a jumbo jet--or even a whole company of jumbos if the Virgin Atlantic/British Airways debacle (which takes up a huge chunk of this already huge tome) is anything to go by.
Branson's autobiography makes immensely fascinating reading. Whatever you think of Britain's most famous entrepreneur, the odds are that you will enjoy reading his autobiography. You may snort at descriptions of his "poor" childhood--spent eating bread and dripping while living in a house the majority of us visit on Bank Holidays and attending a "minor" public school. You may groan at memories of early initiative tests: how about being ejected from the family car and told by his mother to find his way home--at the age of four? You may flinch at accounts of his early business days as an unwashed, unshod, hippy magazine publisher living en famille with his staff in the crypt of a West London church. But, all in all, you'll get to understand where the guy's coming from--man.
And, like the man himself, there's no holds barred here. Richard bares his soul, from childhood, school days (cheating at exams), loves and losses (lost one wife when a spot of wife-swapping went drastically wrong--for him), death-defying adventures (yes, the balloons are all there), to the rise and rise of the Virgin empire. His interviews for Student magazine and the early days of Virgin Music read like a chronicle of popular music and culture in the late 20th century. Famous names bounce off every page. Prepare to be enthralled by the life and times of a walking publicity machine. --Carey Green
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Charles Handy's revolutionary 1989 bestseller The Age of Unreason catapulted him into the ranks of the top management consultants. In Understanding Organizations, he solidifies his reputation as a seminal business thinker, offering a brilliantly insightful, wide-ranging look at business organizations.
This classic text offers an illuminating discussion of key concepts of concern to all managers: culture, motivation, leadership, power, role-playing and working in groups. Ever mindful of actual business practice, Handy directly addresses how managers can translate the six main concepts into invaluble tools for effective management. He discusses how all organizations need to select, develop and reward their people; to structure and design their work; to resolve political conflicts; to lay down guidelines for their managers; and to plan for the future. In each case, the approaches and techniques described here are invaluable.
Equally important, Handy excels at presenting his ideas in colourful, immediately accessible ways, filling the book with illuminating examples and inventive metaphors that range from Tolstoy's ideas on the concept of self, to the many meanings of "good morning," to the conversations that occur in a stopped elevator, to the proper size for a vineyard or an elephant. He shows, for instance, how an optical illusion experiment sheds light on interdepartmental relations, and how the way schoolchildren are typecast by their peers helps explain corporate hierarchies. And along with case studies, graphs, charts, and questionnaires, Understanding Organizations is peppered with boxed sections that offer advice and stimulate thought, brimming with provocative quotations from business wizards such as Peter Drucker, Tom Peters, Warren Bennis, Alvin Toffler, and Rosabeth Moss Kanter, as well as from Aristotle, Shakespeare, Gilbert and Sullivan, Gail Sheehy, and Joseph Heller.
What the successful manager knows intuitively, Charles Handy puts into words. His powerful interpretive schemes will help managers grasp the underlying dynamics of their company, make sense of its past, and assess--and shape--its future. --Jake Bond
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