Here are 100 books that The Curse of Bigness fans have personally recommended if you like
The Curse of Bigness.
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As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
With its "buy and sell" model, the Private Equity industry – which commentators have variously described as the ‘billionaire factory’ and "irresponsible locust swarms" – is responsible for a large and growing share of M&A activity. The businesses held by just two of its members employ some one and a half million people.
Phalippou draws on many years of distinguished research to demystify the secretive industry’s methods and accounting – rigorous explanations leavened by fascinating case studies and appealing humour.
This is version 2.6 (both Kindle and hard copy; Audiobook is following the first edition)! Designed for an MBA course on private equity, this textbook aims to familiarize any reader with the jargon and mechanics of private markets using simplified examples, real-life situations and results from thorough academic studies. The intention is to have a book that can be read more like a novel than like a regular textbook. In order to have long-lasting impact on readers, I believe in making things as simple as possible, boiling everything down to the essence, going straight to the point, and, most importantly,…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
This brings together 9 specialists in accounting, economics, or statistics – from academe or practice – to tackle questions such as: does accounting manipulation affect the terms on which acquirers buy targets; are the post-merger accounts projected by bidders to be trusted; did the way targets were incorporated in the combine’s accounts affect share price?
It’s not a relaxing read – some heavy statistical work and disturbing conclusions: clever accountants have often been able to hoodwink investors before, during and after M&A transactions.
Spending on M&A has, in aggregate, grown so fast that it has even overtaken capital expenditure on increasing and maintaining physical assets. Yet McKinsey, the leading management consultancy, reports that "Anyone who has researched merger success rates knows that roughly 70% fail". The idea that businesses might be using huge and increasing sums of shareholders' money for an activity that more often than not leads to failure calls into question the information on which M&A decisions are based.
This book presents statistical studies, case material, and standard-setters' opinions on company accounting before, during, and after M&A. It documents the manipulation…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
This is a deeply researched and highly readable story of hubris and nemesis at a business giant.
It includes the role of accounting manipulation in its startling narrative of the rise and decline of GE, at its peak the most valuable company in the world, led by a CE dubbed the ‘manager of the century’. Important in its rise was a focus on ‘the all-important [accounting] earnings per share results that made Wall Street swoon’, resulting in a high and rising share price and the highest credit rating – both facilitating a spree of mergers (almost 1,000 in the two decade tenure of CEO Welch).
The authors detail a range of accounting devices used to manipulate earnings, including misreporting inventory and artificially altering the timing of revenue.
This is the definitive history of General Electric's epic decline, as told by the two Wall Street Journal reporters who covered its fall.
Since its founding in 1892, GE has been more than just a corporation. For generations, it was job security, a solidly safe investment, and an elite business education for top managers.
GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America's most valuable corporation. Yet, fewer…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
These three authors were brought in in 1990 to lead accounting standard-setting in the UK.
At the time, company accounts – especially those of merging companies - were a ‘laughing stock’, with profits often wildly overstated and debt materially understated. Against the expectation of many, they managed to outlaw companies’ preferred (profit-enhancing) accounting for M&A – ‘a triumph of diplomacy as well as intellectual ingenuity’ in the words of the Financial Times. The US and international standard-setters have since come close to adopting the same solution – but in the end have never quite dared.
The book combines rigorous discussion of technical accounting with light and lively discussion of the challenges and fights in which they engaged.
In the late 1980s, financial accounting in Britain was in disarray. 'Creative' accounting was rife. The authority of the industry's standard-setters had been drastically compromised when their rules for inflation accounting were first ignored by many firms and then abandoned. There were calls for government to replace the accountants' self-regulation with a tough regulatory regime close to the American model. Also, rapid change in the financial industry was generating complex new financial schemes for which existing accounting standards were inadequate. This book tells the story of the next decade: the problems the standard-setters faced, both technical and political, the resistance…
Dave Ulrich is the Rensis Likert Professor at the Ross School of Business and a partner at the RBL Group, a consulting firm focused on helping organizations and leaders deliver value. He has published over 200 articles and book chapters and over 30 books. The organizations where we live, work, play, and worship affect every part of our lives. Organizations turn individual competencies into collective capabilities, isolated events into sustained patterns, and personal values into collective values. In short, organizations matter in our lives. By adapting their answer to “what is an organization,” leaders, employees, customers, and investors will be better able to improve their organization's experiences.
This is another classic in that it redefines the organization less as morphology and structure and more as a set of capabilities. Capabilities represent what an organization is known for and good at doing. Creating the right organization is less about roles and rules, but more about identifying and creating the right capabilities.
New competitive realities have ruptured industry boundaries, overthrown much of standard management practice, and rendered conventional models of strategy and growth obsolete. In their stead have come the powerful ideas and methodologies of Gary Hamel and C.K. Prahalad, whose much-revered thinking has already engendered a new language of strategy. In this book, they develop a coherent model for how today's executives can identify and accomplish no less than heroic goals in tomorrow's marketplace. Their masterful blueprint addresses how executives can ease the tension between competing today and clearing a path toward leadership in the future.
I’ve been working in value-based pricing for over 20 years and I’ve seen firsthand how it can transform a company’s profits when done right and executed properly through sales. While the specific strategies and tactics vary across industries, company size, and product offerings, many of the foundations and logic behind those strategies can be learned, and must be understood in order to grow a company’s revenue and profit growth in today’s markets. I’d love to connect about any of these topics – feel free to reach out on LinkedIn!
Porter’s five forces have been around a long time–and they’re an important and timeless framework for strategy.
It helps companies focus on where to improve as they look to dominate a market, understanding the ecosystem of competitive threats, entrants, and substitutes.
By understanding what contributes to your pricing power and knowing your stance in different environments, leaders will learn to discern what your pricing power is and how to build and maintain it over time.
Now nearing its sixtieth printing in English and translated into nineteen languages, Michael E. Porter's Competitive Strategy has transformed the theory, practice, and teaching of business strategy throughout the world.
Electrifying in its simplicity-like all great breakthroughs-Porter's analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies-lowest cost, differentiation, and focus-which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and…
I’m someone who believes the accomplishments of women have been glossed over for far too long. I'm passionate about sharing the stories of women and girls that the world at large still tends to ignore. It’s critical to share these stores and to give face and voice to women. Social entrepreneurship, the topic of my recent book Girls Solve Everything, has fascinated me for some time: creative problem solving, tackling problems in our communities and the world, creating a business to find and facilitate the solution. Representation matters. I’m determined to write about and share the stories of strong, innovative, creative women and girls. Our future depends on them.
This lively middle-grade fiction series hits all the right notes: an engrossing, page-turner of budding friendships, strong girl characters, fun competition, and diverse characters that readers easily connect with and relate to. Throw in a common childhood experience – setting up a lemonade stand – but amp it up just enough so it’s more than a lemonade stand...it’s a startup business. I loved that The Startup Squad is a fun read that also manages to introduce business concepts and practices like: idea notebooks, brainstorming, marketing, sales, location, and quality merchandising. Readers can be forgiven if they take their time getting to the next book in the series – chances are, they’ll be a bit preoccupied dreaming up their own new businesses.
The start of an exciting new series, The Startup Squad encourages the entrepreneurial spirit in young readers with a fun, accessible voice and a heartwarming story of friendship.
When their 6th grade class holds a fundraiser, four girls who barely know each other are tasked with starting a lemonade stand - and competing against their classmates to raise the most money. But Resa just takes charge without asking, Amelia keeps asking questions, Harriet keeps getting distracted, and Didi cracks under pressure. The recipe for success is tough to perfect, and there'll be some sweet and sour moments along the way…
Joanne McNeil has written about internet culture for over fifteen years. Her book considers the development of the internet from a user's perspective since the launch of the World Wide Web. Her interest in digital technology spans from the culture that enabled the founding of major companies in Silicon Valley to their reception in broader culture.
Until the 1980s, it seemed like Route 128 in Massachusetts was set to be the dominant location for the tech industry. What could have been a dry look at comparative corporate organizational structures is instead a compelling analysis of the contrasting cultures, business climates, and other forces resulting in the ultimate victory of Silicon Valley. The book is full of fascinating details that I haven’t read anywhere else like the role that California community colleges played in ensuring companies could swiftly train new employees.
Why is it that in the '90s, business in California's Silicon Valley flourished, while along Route 128 in Massachusetts it declined? The answer, Annalee Saxenian suggests, has to do with the fact that despite similar histories and technologies, Silicon Valley developed a decentralized but cooperative industrial system while Route 128 came to be dominated by independent, self-sufficient corporations. The result of more than one hundred interviews, this compelling analysis highlights the importance of local sources of competitive advantage in a volatile world economy.
Even before I became a philosopher I was wondering about everything—life the universe and whatever else Douglas Adams thought was important when he wrote The Hitchhiker’s Guide to the Universe. As a philosopher, I’ve been able to spend my life scratching the itch of these questions. When I finally figured them out I wrote The Atheist’s Guide to Reality as an introduction to what science tells us besides that there is no god. In How History Gets Things Wrong: The Neuroscience of Our Addiction to Stories I apply much of that to getting to the bottom of why it’s so hard for us, me included, to really absorb the nature of reality.
Frank explains why Darwin is a better guide than Adam Smith’sWealth of Nations to the problems the economy raises for almost everyone. The most important market and the only market where almost everyone is a seller instead of a buyer is the labor market. Yet it is the one that Adam Smith got almost completely wrong and Charles Darwin got almost completely right. Frank shows us how the Darwinian process of the labor market makes employers rich at the expense of workers, and how they stitched their advantage into the “Right to Work” (at lower wages) laws.
Who was the greater economist--Adam Smith or Charles Darwin? The question seems absurd. Darwin, after all, was a naturalist, not an economist. But Robert Frank, New York Times economics columnist and best-selling author of The Economic Naturalist, predicts that within the next century Darwin will unseat Smith as the intellectual founder of economics. The reason, Frank argues, is that Darwin's understanding of competition describes economic reality far more accurately than Smith's. And the consequences of this fact are profound. Indeed, the failure to recognize that we live in Darwin's world rather than Smith's is putting us all at risk by…
I’ve been fascinated by the question of ‘what does success look like’ throughout my life: from growing up, to becoming an Olympic rower, to working as a diplomat in high-pressure situations and conflict-affected environments, to becoming a parent, and now my current work as a leadership and culture coach in organisations across business, sport, and education. History and social conventions have led us to define success in ever narrower ways; I wanted to help us understand that and redefine success more
meaningfully, for the long-term. I think it’s a question in all our minds - I hope you enjoy the books on this list as you reflect on what success looks like for you!
I read this book at a time where I was seeing how competitive environments were holding people back and constraining performance but nobody seemed to be noticing.
But Margaret Heffernan, a brilliant thought leader, had noticed it.
In this book, she uses fascinating examples across business, education, and sport to challenge conventional thinking and show that collaboration and cooperation can often be so much more effective than competition.
I was privileged to speak to her as I was writing my book and receive her warm support.
Co-winner of the 2015 Salon London Transmission PrizeGet into the best schools. Land your next big promotion. Dress for success. Run faster. Play tougher. Work harder. Keep score. And whatever you do,make sure you win.Competition runs through every aspect of our lives today. From the cubicle to the race track, in business and love, religion and science, what matters now is to be the biggest, fastest, meanest, toughest, richest.The upshot of all these contests? As Margaret Heffernan shows in this eye-opening book, competition regularly backfires, producing an explosion of cheating, corruption, inequality, and risk. The demolition derby of modern life…
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