The Golden Passport

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The Golden Passport Page 74

by Duff McDonald


  Associates (of the Harvard Business School), 104–7, 154, 195, 198, 310, 338–40, 357, 435–36

  AT&T, 45, 58, 67, 84, 87, 90, 106, 111, 112, 189, 492, 493

  Auerbach, Red, 300

  Augier, Mie, 220

  Austin, J. Paul, 289

  Authentic Leadership (George), 315

  automobile industry, 60–62, 166, 246–47, 266, 270, 343–44

  Babb, Jervis, 197

  Bach, Lee, 214–15, 225

  Badaracco, Joseph, 551–52, 564

  “Bad Management Theories Are Destroying Good Management Practice” (Ghoshal), 368

  Bain, Bill, 507

  Bain, Joe, 412

  Bain & Company, 303, 460, 534

  Bain Capital, 3, 332, 506, 507–8

  Bain Consulting, 207, 210, 303

  Bakan, Joel, 362, 505

  Baker, Benjamin, 49

  Baker, George F., 66, 67, 68, 69, 71, 73, 105, 130, 241

  Baker, George F., Jr., 66–67, 105

  Baker, George F., III, 105

  Baker, George P. (dean), 163, 279, 286–89, 454, 469; on corporate boards, 289; curriculum changed by, 286–87; endowed chairs and, 288, 353; faculty expansion, 353; retirement, 289

  Baker, John Calhoun, 234

  Baker Library, 69, 71–73, 132, 255, 389

  Baker Scholars, 175, 200, 203, 206, 207, 208–9, 211, 303, 315, 321, 411, 468; women and, 241, 569

  Balanced Scorecard, The (Kaplan and Norton), 444

  “Balanced Scorecard: Measures that Drive Performance, The” (Kaplan and Norton), 442

  Baldwin, James, 3

  Bales, Carter, 5–8, 207–8, 577

  Bamberger, Louis, 97

  Bandler, James, 304

  banking industry, 318, 321; bank failures, 101; deregulation, 469, 471, 505, 513; FDR and, 101, 102; financial crisis of 2007–10 and, 381, 548; HBS alumni in, 209. See also Wall Street

  Banks, Tyra, 156

  Barnard, Chester, 87, 111–15, 168, 212, 244, 257

  Barriers to New Competition (Bain), 412

  Barsh, Joanna, 241

  Barth, Carl, 35

  Bartlett, Christopher, 491, 519

  Batter, Lisa Hunt, 535

  Bazerman, Max, 440

  Beales, Richard, 477

  Bear Stearns, 471, 477, 478, 548

  Beatty, Jack, 186

  “Because Wisdom Can’t Be Told” (Gragg), 397–98

  Beitzel, George B., 154

  Bellah, Robert, 275–76

  Benjamin, Donnie, 535

  Bennis, Warren, 159, 224

  Berelson, Bernard, 221

  Berkshire Hathaway, 211, 480

  Berle, Adolf, 56, 93, 131–32, 244

  Bernstein, Zalman, 129

  Berolzheimer, Michael, 263

  Bertarelli, Ernesto, 531

  Bethlehem Steel Company, 32–34

  Bevis, Howard L., 102

  Bewkes, Jeff, 534

  Bharara, Preet, 441

  Bhatnagar, Sanjay, 514

  Big Time, The (Shames), 168, 173, 324–25, 529

  Bill & Melinda Gates Foundation, 211

  Bilzerian, Paul, 380

  Birkinshaw, Julian, 226, 396–97, 539

  Bishop, John, 215

  Black, Leon, 531, 534

  Blackstone Group, 76, 125, 394, 468, 470, 531

  Blavatnik, Len, 531

  Bloomberg, Michael, 456, 510–11, 530–31, 561–62, 563

  Bloomingdale’s, 169, 171

  Board of Directors of Small Corporations, The (Mace), 325

  Boesky, Ivan F., 380, 431

  Bogart, Humphrey, 183

  Bok, Derek, 206, 334–41, 435, 567

  Bok, Sissela, 337

  Bollinger, Lynn, 326

  Bonfire of the Vanities (Wolfe), 453

  Booth, David G., 533

  Borden, Neil, 293

  Boston Beer Company, 456, 477

  Boston Consulting Group (BCG), 3, 207, 210, 417, 458, 460, 477, 507

  Botlin, Ana Patricia, 241

  Bower, Joseph, 413

  Bower, Marvin, 105, 132, 142, 184, 199–212, 246, 254, 288, 289, 436, 458; Bok and, 337–40; case method and, 202–3, 206; Fellowship Program, 208–9; Matsushita Chair and, 205–6; McArthur and, 339–40

  Bower-Gordon Award, 458

  Bowes, Bill, 323

  Bowling Alone (Putnam), 56

  Bradshaw, Thornton, 105–6

  Brandeis, Louis, 131

  Breech, Ernest, 270

  Breyer, Jim, 321

  Broadway, Robert, 531

  Brooker, Katrina, 480

  Brooks, John, 289

  Broughton, Philip Delves, 546, 552, 559, 568

  Brown, Charles, 106

  Brown, Theodore, 154

  Browne, Jacqueline, 203

  Brownstein, Howard, 507

  “Brownsville Girl” (song), 397

  “Buck Stops (and Starts) at Business School, The” (Podolny), 236, 439–40

  Budgetary Control (McKinsey), 116

  Buffett, Warren, 480, 482

  Built to Last (Collins and Porras), 492

  Bundy, McGeorge, 218

  Bupp, Chip, 519

  Bureau of Business Research (BBR), 38, 94–95

  Burke, James, 169, 171, 525–29

  Burnham, Elizabeth Abbott, 238

  Burr, Francis H., 401

  Bursk, Edward, 297

  Bush, George H. W., 126, 241, 403–4, 467, 505

  Bush, George W., 74, 126, 241, 503–6, 508, 510, 522–23

  business, 14, 15, 182, 230; antitrust legislation, 57, 467; best practices, 28, 31; cultural prominence, 13, 70, 145; era of the professional manager, 14–15; federal regulation and, 102, 103, 108, 122, 131–32, 133, 200, 244, 347, 357, 358, 367, 385, 386–87, 430, 504–5, 513; the firm as a machine, 25, 34, 39 (see also Taylor, Frederick W.); as force for good, 17, 385, 386; “freedom” and, 184; governing and self-governing of, 25; hiring MBAs, 45; Keynesian ideas, 386; leadership failure, 106, 352; mass market, 14, 262–63; military overtones, 185; ownership separates from control, 60; as a profession, 13, 14, 17, 19, 20, 22–25, 130, 174, 566; public policy and, 192; purpose of the company, 22, 130; quantitative orientation, 576; scientific approach, 26, 29, 34, 62, 64, 212, 225, 248, 286; social responsibility, 59, 360–64; societal problems and, 14, 54, 57; submerged state and, 542; systems theorists, 286; Taylorism, 29, 32–38; theory of, 57–58; two main functions of a firm, 28, 32. See also capitalism; corporations; entrepreneurs; management

  Business Adrift (Donham), 102

  business education, 11–13; American model, 228–36; business administration as a teachable skill, 61; campus appearance and, 74; case method and, 46–53, 279 (see also case method); Chandler on, 247; CIA, capitalist propaganda, and, 187; creating team players, 185–87; critics of, 210, 313; David, Ford, and, 219–23; education as a commodity, 217–18; as employed by business itself, 197; in entrepreneurship, 319–33; ethics and, 260, 428–41; in Europe, 12–13, 21; executive education, 107–10, 147–59; failure of, 576; financial crisis of 2007–10 and, 551; Flexner and, 97–100; Ford and Carnegie foundations critical of, 221, 223–24; generalist approach, 180–81, 197, 247, 448; Germany and Japan, 198, 232; HBS dominating international, 228–36; HBS educating a technocratic elite, 60; HBS influence on other institutions, 234–36; HBS vs. other schools, 392–99; income inequality and, 542; Johnson on, 447; leadership education and, 308–18, 396; Livingston article on, 290–92; Locke on, 447–48; managerial ideology of, 214–15, 286; market fundamentalism in, 550; MBAs awarded (1958 to 1981), 217; number of colleges, 12; Porter model for, 424; postwar surge in, 144; quantitative orientation of, 215–18, 220, 221, 224, 445; rankings, 254, 280, 493; risk management and, 551–52; shift to shareholder value/theory of the firm, 369; social responsibility and, 59, 369, 391; specialist curricula, 448; theory of business and, 57–58; tuition increases, 542; U.S. economy decline and, 347–48; U.S. institutions offering MBAs, 193; weakness of, 194–95; women admitted to schools, 137, 240. See also Harvard
Business School; specific schools

  business ethics, 59, 88, 94, 260, 261, 298, 336, 564; Burke study, 527; conflict-of-interest policies, 404, 520; consulting vs. advocacy, 406; Drexel scandal, 380–81, 431; Fortune 500 companies, criminal violations by, 434; in HBS curriculum, 260, 336–37, 428–29, 431–41, 457–58; insider trading and, 380, 431, 512; Jensen and erosion of, 380–83; Marriott debt manipulation, 402; Material Service bribing, 345–46; MBAs and lapses, 437; Protestant ethic and, 432; Satyam Computer Services fraud, 408–9, 521; Shad as SEC chair and gift to HBS, 430–32, 436–37; Skilling and Enron, 437–38, 512–24; Vioxx scandal, 106–7; Wetlaufer scandal, 303–5; what it encompasses, 429–30

  Business Healers, The (Higdon), 512

  business history, 243–53

  Business History Review, 243

  Business Looks at the Unforeseen (Donham), 102

  Business Policy text, 259, 260

  “Business Responsibilities in an Uncertain World” (David), 143

  Business Roundtable, 191, 388–89, 487

  business statistics, 38, 91, 93, 104, 115, 116, 118, 138, 213, 215, 216, 265, 273

  BusinessWeek, 127, 207, 268, 297, 439, 455, 502, 513, 564, 568; business school rankings, 493; cover story on HBS, 493–94

  Butt, Charles, 531

  Byrne, John, 265, 267, 268, 273, 330, 493, 557

  Cabot, Philip, 108–10, 152

  Cabrera, Ángel, 551

  Cahill, John, 531

  Caldwell, Philip, 106, 128, 179

  Callahan, David, 168, 169, 173, 357

  Calvino, Italo, 307

  Campbell, Robert, 106

  campus (of HBS), 63, 66–75; Aldrich Hall, 51, 71, 142; Anderson Bridge, 453; Anderson House, 155; architecture, 69, 71, 74; Arthur Rock Center, 320; Baker bequest, 67–68, 69, 71, 73; Baker Hall renamed, 532; Baker Library, 69, 71–73, 132; Building Committee of the Faculty and, 66; Carpenter Hall, 136; corporate partnerships, 402; discontinuation of all non-School use, 453; IBM and, 155; insularity, 392–93, 453; interfaith chapel, 74; Kresge Hall, 402; Kress bequest, 73; Morgan Hall, 69, 71, 74, 132; mosaic from Antioch, 74; opulence of, 530; renovations, 458–59; Ruth Mulan Chu Chao Center, 155, 533; Soldiers Field, 176, 453; Straus Hall, 104; Tata Hall, 155; University Hall, 121; vehicles banned, 459; World War II and, 136–37

  “Can Business Schools Humanize Leadership?” (Petriglieri), 311

  Can Ethics be Taught? (Piper et al), 403, 437

  Capital Cities/ABC, 163, 169, 171

  Capital in the Twenty-First Century (Piketty), 281, 540

  capitalism, 2, 4, 5, 6, 10, 17, 184, 384; belief system, 59; communist threat, 143, 184; creative destruction, 243, 348; efficient-market hypothesis, 411; ethics and, 261, 432; free market and, 43, 57; HBS as the West Point of Capitalism, 135–39; investor capitalism, 366–67, 387; laissez-faire, 131; managerial capitalism, 132, 144, 247, 250; morality of, 566; power equals money in, 369; profit motive, 432; Research Center in Entrepreneurial History and, 243; shareholder capitalism, 6, 298, 315, 360–64, 366, 576; trade-offs, 281; trans-national capitalist class, 8

  Capitalism, Socialism, and Democracy (Schumpeter), 348

  Carnegie, Andrew, 23, 28

  Carnegie, Rod, 209

  Carnegie’s Graduate School of Industrial Administration (GSIA), 214, 215, 220, 221, 225, 226, 228, 260, 297, 343, 451; Kaplan at, 443

  Caro, Robert, 480–81

  Carr, Nick, 303, 304, 305–6

  Carroll, Thomas, 106, 220, 231, 289

  Carter, Edward, 96

  Carter, Graydon, 472

  Carter, Jimmy, 354

  Carter, John, 468

  Case, Everett Needham, 234

  case method, 3, 5, 6, 11, 27, 45, 46–53, 91, 92, 211, 212, 221–22, 225, 226, 277–84, 455; Associates funding, 104, 195; Bales and, 6; benefits, 52–53, 202–3, 277–78, 394, 470; bias for action, 51–52, 291; Bok’s criticism, 336, 338, 339; Bower’s defense, 206, 338–39; businesses asking to be studied, 58; Butcher Polish case, 333; casebooks, 99; casebooks, revenues from, 278, 279, 283; cases for SCMP, 326; case study hero, 107, 171, 280, 312, 436, 527; choices for study, Associates and, 106; Christensen and, 279; class section system and, 394; computerizing of cases, 155–56; Copeland-Cherington experiment and, 48–49; corporate sponsors and, 284, 520–21, 522; costs, 58, 63, 278; departure from (2010), 565–66; Dimon and Murphy on, 51; Elberse’s bestselling studies, 556; Enron cases, 281, 519, 522; ethics cases, 436; faculty development and, 46; failure to link actions to societal concerns, 51; Ford Foundation and, 278; Gay and, 27, 30, 47–48, 52; HBS vs. other schools, 397; international companies, 255; invention of, 47–53; JetBlue Airways study, 284; Johnson & Johnson cases, 527; judgment-based theory and, 5; Krasnow case, 333; Marine Basic School compared to, 50; Marriott case, 402; National Cranberry Cooperative case, 283; McNair on, 48–49; Merck, Vioxx scandal, and, 106–7; Mintzberg as critic, 483–89; negatives, 195, 280–82, 286–87; number of cases taught, 53; other schools using, 228–29, 279, 283; Raiffa and, 215–17; rationale for vs. reality of, 396–99; research and, 355, 455; SASB study, 562; skills taught by, 176–77; social aspect of, 394–98; Socratic method and, 49, 64, 394; Staples cases, 333; teaching ethics and, 429; teaching strategy and, 260; translations, 231, 255; weakness of, 51; World War II and, 137

  Case Method at the Harvard Business School, The (McNair and Hersum, eds.), 279

  Case Method of Teaching Human Relations and Administration, The (Andrews), 279

  Cash, James, 409–10

  Castle, John, 322, 468

  Catchings, Waddill, 122

  Caufield, Frank, 120, 127, 322

  Caust, Len, 344

  Caves, Richard, 412

  Celler-Kefauver Act of 1950, 193

  Central and Eastern European Teachers Program, 232

  Central Intelligence Agency (CIA), 162, 187, 230, 231, 254

  “CEO Incentives” (Jensen and Murphy), 371

  C. E. Unterberg, Towbin bank, 125–26

  Chalsty, John, 468

  Champion, David, 552–53

  Champion, George, 297

  Chandler, Alfred, 14, 170, 243–52, 356, 370, 376–77, 443, 446; legacy of, 248; works by, 4, 194, 204, 230, 245, 246–48, 250, 257, 446

  Chanos, Jim, 516

  Chao, Elaine, 158, 241

  Chao family, 155, 533

  Chapin, Richard, 235

  Chapman, John Jay, 70

  Cherington, Paul T., 49, 202, 401

  Chia, Robert, 484–85

  China, 231, 422

  Chouinard, Yves, 362–63

  Christensen, Clayton, 8, 303, 378, 501, 503, 554, 572, 573, 576; disruptive innovation, 422–24, 573; Innosight, 409; Institute, 409; speaking fees, 410

  Christensen, C. Roland, 156, 258, 279, 308, 326, 355, 364

  Church, Alexander Hamilton, 35

  CIT Group, 476–77

  Citigroup, 471

  “Civilization: The Perilous Adventure” (Mayo), 80

  Clark, Donald T., 235

  Clark, Kim (dean), 227, 235, 332, 333, 377, 405, 407, 438, 500–502, 520, 541, 545

  class schedule/academic calendar, 393

  class section system, 393–96, 397, 398

  Clayton Antitrust Act, 200

  Cliffe, Sarah, 303

  Clinton, Bill, 74, 372, 426, 469, 505, 522, 525

  Coase, Ronald, 448

  Cohen, Peter, 71, 275, 357, 397

  Colao, Vittorio, 531

  Cold War, 142, 182, 232, 275

  Cole, Arthur, 243

  Cole, William Morse, 115

  Coleman, Sylvan, 289

  Collingwood, Harris, 304

  Collins, Dwight, 561

  Collins, Jim, 492

  Colossus (Beatty), 186

  Columbia Business School, 92

  Committee for Economic Development (CED), 192

  Commons, John, 259

  Company, The (Micklethwait and Wooldridge), 60, 130

  Competitive Advantage (Porter), 414

  Competitive Advantage o
f Nations, The (Porter), 419

  Competitive Strategy (Porter), 414, 417

  Compton, Karl, 124

  Conant, James, 63

  Concept of the Corporation (Drucker), 143–44, 243

  Confidence (Kanter), 559

  Confronting Managerialism (Johnson and Spender), 446–47

  conglomerates, 217, 247, 328, 358, 366, 456, 465, 520

  consulting firms, 3, 199–212, 318, 329, 368; business schools and, 210; HBS grads hired by, 199, 202, 206–8, 338, 460; hiring non-MBAs, 494; MBAs at, 210, 357; as nonmanagerial choice for MBAs, 292; recession of 2008 and, 420. See also specific companies

  Consumer Needs and How to Satisfy Them (Cherington), 202

  Contardo, Ianna, 280

  Converse, Edmund Cogswell, 43

  Cook, Donald C., 289

  Coolidge, Archibald Cary, 16

  Cooper, Robin, 446

  Copeland, Melvin, 24, 48–49, 61, 64, 68, 115, 177, 238, 263, 325, 355

  corporate CEOs: college-educated, 130; as distinct social class, 388; compensation, 165–66, 372, 387, 388, 390, 426, 463, 471, 488, 491, 538–44, 550; cult of, 418; HBS grads as, 198, 342, 451, 495, 496–97, 514, 530–31, 532, 534; HBS network and, 534–37; income inequality and, 56, 165–66, 463, 539, 544; job security, 387; short-termism and, 10, 36, 197, 345, 346, 347, 372, 373, 380, 466, 469, 517, 541, 551; stock-options for, 297, 371, 372, 376, 380, 388, 390, 487, 538, 541, 542–43; as strategist in chief, 415–18. See also specific people

  “Corporate Malfeasance and the Myth of Shareholder Value” (Dobbin and Zorn), 462–63

  “Corporate Power in the 21st Century” (Davis), 369

  Corporate Strategy (Ansoff), 257–58

  Corporation, The (Bakan), 362, 505

  corporations, 8, 10, 14, 31, 95, 131, 182–87, 422; anthropomorphic fallacy and, 418; Balanced Scorecard and, 442–52; boards, constitution of, 388; cash hoarding, 349, 367; Citizens United decision and, 492; corporate elite, 313, 387–88; DCF adopted by, 118–19; disturbing trends, 285; diversification, 193; downsizing, 212, 301, 368, 371, 387, 431; Drucker and, 243; environmental issues, 7; federal regulation, 184, 200, 357, 358, 367; HBS and, 8, 9, 62, 105–7, 142, 153–55, 190, 336, 460, 530; HBS’s executive education and, 147–49, 151–52, 197–98; Hollywood portrayals, 183–84, 186; hostile takeovers and leveraged buyouts, 362, 367, 369, 370–71, 380, 430, 463; income inequality and, 56, 165–66, 463, 539, 544; inversions and tax avoidance, 529; investors as custodians, 366–67, 387, 388 (see also shareholder value); job turnover, 291, 383; under Kennedy, 28; labor unions and, 161; layoffs, 387, 492–93; Levitt’s redefining of identity, 261–62; MBAs in, 289, 290–92, 345, 383; megacorporations, 14, 31, 182–83, 193, 358; mergers and acquisitions, 349, 371; M-form structure, 245, 250, 251–52, 266; morality and, 114, 566; need for managers, 14–15, 132; network of interlocking directorships, 189, 191, 211, 289; Organization Man and, 183–87; as people, 509; percentage of Americans employed by, 144; power elite and, 188–93; power of, 249, 288, 342, 385; price fixing, 285; profit motive and, 10, 367; Progressive containment of, 62; recruiters for, 151, 178, 186–87, 199, 207–8, 209, 460; shareholder value and, 10, 36, 360–64, 369, 418, 442, 462, 469, 491, 550, 567; shares in, 363, 375; short-term thinking, 247, 345, 443, 469, 551; social problems and, 385; social responsibility, 145, 314–15, 360–64, 366, 382, 384–91, 427, 434, 436, 472, 525–29, 560–62; stakeholder model, 6, 367; strategy, 258–61; systems approach, 89, 112–13, 114, 217; theory of the firm and, 366; top-down power, 32; workers’ benefits lost, 462. See also corporate CEO; specific companies

 

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