The Golden Passport

by Duff McDonald

  Corzine, Jon, 476

  Cost and Effect (Kaplan and Cooper), 446

  Cotting, Charles, 142

  Count of Monte Cristo, The (Dumas), 185

  Covey, Stephen, 492

  Cox, Allan, 492

  Cox, Christopher, 506, 548

  Crainer, Stuart, 212, 217, 329

  “Creating Shared Value” (Porter), 421

  Crisp, Peter, 320, 322

  Cronin, Michael, 333

  Crown, Lester, 345–46

  Cruikshank, Jeffrey, 19, 69, 238, 324, 325, 455–56

  Cruikshank, John, 286

  Cruz, Ted, 511

  Cuddy, Amy, 554–55

  Cuff, Robert, 249

  Cullen, Patrick, 564

  Cunningham, William, 26

  curriculum and courses (at HBS), 5, 6–7, 25–26, 30, 42, 43, 47, 64, 91, 93, 94, 98, 103–4, 115–19; Administrative Practices, 177; Aspects in Budgetary Control, 117; Building Sustainable Cities, 561; Business and Environment Initiative, 561; business history, 245–46, 249, 251; Business Leadership and Ethics, 431; Business Policy, 47–48, 114, 117, 122, 258, 416, 434, 453; Business Statistics, 115; changes in, 286, 453–54; class section system and, 393–96; The Coming of Managerial Capitalism: The United States, 245–46; Competition and Strategy, 453; Competitive Decision Making, 336–37; course catalog (1908–9), 47–48; critics of, 131; Economic Problems of National Defense, 135; Elements of Administration, 118, 175; entrepreneurial management, 319–33, 420, 456, 494; ethics courses over the years, 408, 434, 435, 435, 436; ethics in, 260, 336–37, 428–29, 431–41, 457–58; The Field Method, 565–66; Financial Reporting and Control, 440–41; guaranteed seats, 153; Industrial Administrator, 135; Industrial Mobilization, 135; Infrastructure and Reimagining Capitalism, 561; Investment Management, 175; Jensen’s The Coordination and Control of Markets and Organizations, 6; Knowledge-Based Strategy, 427; Leadership and Corporate Accountability, 381, 438; Management Controls, 117–18, 138; Managerial Economics Reporting and Control, 218; Manufacturing Industries, 122, 128, 325; marketing courses, organizing theme of, 263; math and statistics added, 215, 216; most popular courses, 454; national defense-related courses, 135; number of educational programs, 151; overhaul (1946), 118, 145, 175, 176–77; overhaul (1990s), 494; policies underlying, 281; Porter’s Industry and Competitive Analysis, 414, 458; Power and Influence, 436; Principles of Accounting, 115, 116; Problems of New Enterprises, 175; Public Relations and Responsibilities, 177–78; public sector management missing from, 340; second-year problems, 574; Shad’s endowment and Leadership, Ethics, and Corporate Responsibility, 436–37; Small Manufacturing Enterprises, 326; Strategic Marketing in Creative Industries, 555; strategy as core of, 259; Taylor System, 122; War Industry Training, 147, 148; World War II and, 136–37. See also Executive Education; Harvard Business School (HBS) online (HBX)

  Dalio, Ray, 466, 531

  D’Amore-McKim School of Business, Northwestern University, 141

  “Dangers of Social Responsibility, The” (Levitt), 145

  Daniel, Ron, 209

  Darden, Robert, 235

  Darden School of Business, University of Virginia, 228, 235, 279

  Dartmouth, 202, 533

  Datar, Srikant, 564–65

  David, Donald (dean), 89, 90, 105, 140–46, 192, 196, 215, 324, 454, 574; ARD and, 124, 125; “Business Responsibilities in an Uncertain World,” 143; class of ’49 and, 169; corporate support for HBS, 142; curriculum overhaul, 118, 145, 175, 176–77; death, 223. Executive Education, 147–51; faculty and, 227; Ford Foundation money, 219–23, 225, 226; HBR and, 295; HBS and social responsibility, 255; legacy, 145; Mace’s course and, 325; managerial elite and, 141; as pro–big business, 324, 434; “The Public Looks at Business,” 142; retirement, 254; science of business, 225; on student illness, 176; TUP and, 162; World War II and, 147

  Davis, Jerry, 170, 369, 372–73, 406, 505, 540

  Davis, Ned, 272

  Davis, Tommy, 320

  Day, John, 326

  Dearlove, Des, 212, 217, 329

  DEC, 126, 127, 460

  decision theory, 215, 216, 217, 355

  Decker, Susan, 468

  Decline of the West, The (Spengler), 77

  Delano, F. A., 26

  Delicate Experiment, A (Cruikshank), 19, 69, 238, 455–56

  Deming, W. Edwards, 344

  Democracy and Freedom (Mayo), 77

  Deresiewicz, William, 50–51, 217, 309, 312–13, 504, 523–24

  Dewey, John, 79

  Dewey, Ned, 172, 324

  DFJ (VC firm), 321–22

  Dickson, William, 85

  Diebold, John, 128

  digital learning, 571–74

  Dimon, Jamie, 51, 241, 466, 471–73, 531, 548

  Dimon, Judy, 241

  Dingell, John D., 346

  Dobbin, Frank, 381, 462–63

  Doerr, John, 322

  Donaldson, Lufkin & Jenrette, 128, 466, 467–69

  Donaldson, William H., 467–68, 469, 475

  Donham, Paul, 326

  Donham, Wallace (dean), 24, 54–66, 81, 82, 86, 87, 89, 91–96, 100, 111, 141, 189, 201, 219, 386, 400, 433, 439, 454, 574; Associates and, 104–7; building a campus, 63–72; Business Adrift, 102; on business leadership, 133–34; Business Looks at the Unforeseen, 102; on Cabot, 109–10; case method and, 91, 92, 137, 277, 278; corporate money and board positions, 131; curriculum and, 93; David and, 140, 141; DCS degree and, 222; Doriot and, 122; elitism, 261; ethics and, 433–34; executive education and, 107–10; faculty hires, 61, 91; faculty sharing of teaching materials and cases and, 91, 92; FDR and, 102–3; fundraising by, 66–69, 71, 81; Great Depression and, 101–4, 108; HBR and, 294; HBS and the military, 136; human resources movement and, 61; Industrial Administrator program and, 118; legacy, 61–62; Lowell and, 55; Mayo and, 81, 82, 86, 87, 89, 141; moral leadership and, 543; retirement, 89, 133, 134; as salesman for HBS, 58–59; secretary for, 237; “The Social Significance of Business,” 433; theory of the firm and, 4, 261; vision of, 309; World War II and, 135–37, 141; writings, 131

  Donovan, William, 123

  Doriot, Georges, 61, 120–29, 258–61, 323, 325; Centre de Perfectionnement aux Affaires and, 228; “Industrial Mobilization in a Major Emergency” speech, 123; INSEAD and, 126, 231; “The Investment Trust Racket,” 122–23; U.S. armed forces and, 123–25; venture capital and ARD, 124–29

  Dos Passos, John, 41

  Douglas, Michael, 209

  Doyle, Linda, 303

  Draper, Tim, 321

  Draper, William, III, 321

  Drexel Burnham Lambert, 120, 379, 380–81, 431, 460

  Drucker, Peter, 39, 143–44, 182, 183, 243, 292, 301, 311, 484

  Dukakis, Michael, 334

  Dumas, Alexandre, 185

  Dunham, Sylvester, 42, 94

  DuPont, 117, 245, 250, 347

  Durkheim, Émile, 77–78, 244

  Dyer, Davis, 297, 299

  Dylan, Bob, 53, 387

  Eberle, William, 289

  Eccles, Robert, 561

  “Eclipse of the Public Corporation” (Jensen), 370

  Edison, Thomas, 60

  Edmondson, Amy, 238

  Edmundson, Mark, 315

  Effectiveness of University Management Development Programs, The (Andrews), 152

  efficiency, 35, 36, 37, 39, 40, 57, 62, 485–86. See also Taylorism

  Einstein, Albert, 97

  Eisenhower, Dwight D., 124, 168, 191, 192–93, 467

  Eisner, Michael, 371

  Elberse, Anita, 238, 555–57

  Elements of Marketing, The (Cherington), 49

  Elfers, William, 127, 323

  Eliot, Charles William, 11–12, 15–20, 43, 66, 103

  Elkind, Peter, 517

  Ellis, Charles D., 381

  Elton, Roger, 196

  Ely, Robin, 238

  Emerson, Ralph Waldo, 54

  Empire Builders, The (Mark), 153, 203, 205, 206, 208, 402, 403

  End of Leadership, The (Kellerman), 197, 310,
543

  Englander, Ernie, 389–90

  “Enough Leadership” (Mintzberg), 486–87

  Enron, 76, 281, 380, 381, 437–38, 456, 504–5, 512–24, 550, 568; code of ethics at, 527; HBS MBAs at, 514; ties to HBS, 522–23

  entrepreneurs, 12, 60, 243, 244, 567; business schools and, 329; Executive Education for, 152; HBS and, 319–33, 456, 494; HBS grads as, 319–23, 328, 330, 332–33; HBS network and funding, 330, 332–33; HBS New Venture Competition, 330–31; Innovation Lab, 329; leadership education and, 329; management, 319–33, 456, 494; Research Center in Entrepreneurial History, 243, 244; Rock Center, 329, 331

  environmental issues, 5, 6, 7, 560–62

  Erdoes, Mary, 241

  Erhard, Werner, 379, 535

  Esteves, André Santos, 532

  ethics. See business ethics

  Ethics in Practice (Andrews), 298

  European Common Market, 125

  Europe Research Center, 234

  Ewing, David. 51, 164–66, 280, 299, 300, 301, 306, 401, 496–97, 527

  Excellent Sheep (Deresiewicz), 50–51, 309

  Executive Education, 11, 107–10, 138, 145, 147–59, 258, 572; Advanced Management Program, 148–49, 161, 162; alumni as CEOs, 152; alumni donations, 196–97; companies sending students, 460; corporate support, 147–49, 151–52; cost, 152; Creating Shared Value: Economic Success and Social Impact program, 421; enrollment, 152, 158, 353; Ferguson at, 556–57; first female student, 152; as funding source for HBS, 148, 151, 153, 154, 158–59, 306, 336, 533; golden passport and, 307; HBS network and, 156–57; IBM and, 154–55; IBS and, 153–54; international students, 158; Middle Management Program, 149, 151; Owner/President Management Program, 326; Porter and, 414; Program for Management Development, 148–49, 162; program on Risk Management, 553; Ruth Mulan Chu Chao Center, 155, 533; Smaller Company Management Program, 152, 326

  Facebook, 10, 74, 241, 321, 468, 534

  faculty (and endowed chairs), 328, 329, 364, 356, 495; arrogance, 299; Business History Group, 249, 356; Business Policy Group, 251–52, 279, 356, 414; case method and, 46, 195, 277–80, 284; conflict-of-interest and corporate ties, 519–20; on corporate boards, 401, 402; difficulty in finding jobs elsewhere, 501; diversity and, 459; early years of HBS and, 26, 30, 34–35, 42, 47–49, 54, 61, 87, 91, 93, 94; endowed chairs, 140, 153, 157, 205–6, 243, 288, 328, 353; entrepreneurial management and, 327, 328, 329; expansion of, 132, 353, 502; ethics courses and, 436; financial crisis of 2007–10 and, 546–47; under Fouraker, 355; as generalists, 132, 414; grade gap, women, 569–71; Heinz Professorship, 560; hiring famous people, 370; holding doctorates, 220–21; IBJ Professorship, 153; as inbred or homegrown, 195, 226–27, 459, 500; Industrial Bank of Japan Professor, 153, 402; industrial research and, 81, 82; influence at other institutions, 234–36; James J. Hill Professorship, 43, 67; John and Natty McArthur University Professor, 495; Konosuke Matsushita Professor, 409; lack of math skills; lack of real business experience, 350–51, 459, 498; Mayo’s theories and, 212; McArthur’s changes, 459; for military courses, 137; minority faculty, 459; monetizing their positions, 400–410; next generation of, 554–63; outside consulting work and, 400–410, 419, 519–20, 567; PhDs in business economics and, 458; Porter’s influence, 414–16; principal-agent theory and, 366; Production and Operations Management (POM) group, 346–47, 456; as professional speakers, fees and, 410; Professorship of Business Ethics, 433; research areas of, 355–56; Retailing Group, 356; salary increase, 287; satisfaction of, 530; self-image of, 255–56; shareholder value ideology and, 377–78; Straus Professorship, 245; Taylorism and, 212; tenure, 279; Transportation Group, 356; turf war, 1960s, 286; weakness of, 356; William Ziegler Professor, 103, 140; women faculty, 237–38, 459, 569–70. See also specific faculty

  Faculty Club, 238

  Faculty Committee on Outside Activity, 405

  Fairchild, Sherman, 319

  Fairchild Eight, 319–20, 322

  False Prophets (Hoopes), 88, 317

  Farkas, Andrew, 537

  Fastow, Andrew, 514

  Faust, Drew Gilpin, 334, 406, 408, 409, 423, 532, 536, 565, 567, 574

  Federal Reserve, 56, 475

  Federal Trade Commission Act, 200

  Ferguson, Alex, 556–57

  “Ferguson’s Formula” (Elberse and Ferguson), 556

  Ferraz Pereira, Paulo V., 514

  Fields, Mark, 531

  Figgie, Harry, Jr., 177

  Filene, A. Lincoln, 81

  Filene, Edward, 42

  Fillo, Stephen, 323

  financial crisis of 2007–10, 2, 372, 381, 471, 525; financialization and, 550; HBS and, 545–53; HBS business leaders and, 547–49; housing market crash and, 477; Thain at Merrill Lynch and, 476

  “Financialism” (Mitchell), 550

  financialization, 270, 271, 576

  financial sector. See Wall Street

  Financial Times, 373, 476, 493, 547; Global MBA ranking, 530; HBS grads as CEOs list, 531

  Finkel, Robert, 127

  Fisher, John, 321

  Flanders, Ralph E., 124, 125

  Flexner, Abraham, 97–100, 106

  Follett, Mary Parker, 88

  Ford, Gerald, 354

  Ford, Henry, 12, 39, 60–61, 267

  Ford, Henry, II, 219–23, 266, 268, 270, 274, 297

  Ford Foundation, 125, 215, 219, 225–26, 231, 232, 254, 274, 275, 278, 454, 545; endowment of, 220

  Ford Motor Company, 3, 13, 106, 123, 128, 142, 179, 219, 255, 531; cost-cutting vs. quality at, 270; Edsel product failure, 268; Harvard Method of analysis and, 266; HBS grads at, 342; losses (1980), 271; MBAs working at, 270; McNamara as president, 138, 268–71; organizational problems, 266–67; pretax profit (1955), 268; test of the HBS ethos at, 276; Whiz Kids and, 266, 267, 269–72

  Foreign Corrupt Practices Act of 1977, 430

  Fortune 500 companies, 198, 532

  Fortune magazine, 88, 128, 184, 295, 305, 337, 453; “The Age of the Managers,” 194; on the CED, 192; change in coverage, 174; class of ’49 and, 174; on Deming, 344; Doriot and, 128; Enron fraud and, 516–17; Mintzberg-Lampel article, 497–98; Sloan on cover of, 194; Sony hacking article, 537

  Fouraker, Lawrence (dean), 299, 327, 335–37, 353, 384–91, 454; board memberships, 335; Bok and, 335–37; ethics and, 435; faculty and, 355; generalist approach and, 358; managerialism and, 384; monetizing of position, 335; ousting of, 337; tuition hikes and, 353–54; women and minorities and, 354–55

  Fox, John Bayley, 231

  Foxwell, Herbert Somerton, 72–73

  Fracturing of the American Corporate Elite, The (Mizruchi), 313, 385–86, 391

  Frank, Thomas, 57, 161, 165, 250, 387, 490, 491–92

  Franklin, Barbara, 241

  Fraser, George MacDonald, 205

  Freedman, Lawrence, 259, 342

  Freeman, Kenneth, 235

  Freeman, Richard B., 166

  Frei, Frances, 238, 569–70

  Freud, Sigmund, 78

  Friedman, Milton, 360–64, 366, 374, 375, 424, 442, 568, 576

  Friedman, Walter, 249

  From Higher Aims to Hired Hands (Khurana), 217, 220, 423

  “From Pioneer Egalitarianism to the Reign of the Superrich” (Mettler), 542

  Fuller, Joseph, 420

  Fuller, Mark, 418–19, 420

  Functions of the Executive, The (Barnard), 111, 257

  Fuqua School of Business, Duke University, 92

  Galambos, Louis, 249

  Galbraith, John Kenneth, 172–73, 270–71, 288, 295, 342, 432

  Gandz, Jeffrey, 314

  Garvin, David, 150, 564

  Gay, Edwin, 21–29, 34–35, 42–45, 57, 63, 98, 243, 355; BBR and, 38; business history and, 27–28; Business Policy course and, 47–48; case method, 27, 30, 47–48, 52; goals for HBS, 44–45; resignation, 44; “science” of business, 212, 214, 221; Taylor and, 29, 34–35, 38–41; two functions of a firm, 28, 32

  General Electric, 31, 42, 69, 70, 81, 83, 87, 142, 147, 149, 183, 219, 303, 305, 373, 531;
HBS case method and, 58

  General Motors, 61, 123, 139, 191, 194, 245, 266, 270, 460; antitrust legislation and, 249–50; Chandler and, 245; Drucker study of, 143–44; Japanese carmakers and, 246–47; layoffs at, 492; Sloan and, 348

  Gentile, Mary, 437

  George, Bill, 315–18, 482, 523

  Gerald, Casey, 1–5, 9, 427, 440, 563, 577

  Germany: business education, 198, 232; industry in, 350, 352, 358

  Gerstner, Lou, 209, 496, 498

  Ghemawat, Pankaj, 519

  Ghoshal, Sumantra, 368, 375–76, 491

  Gifford, Walter, 67

  Gilbert, Clark G., 235

  Gilder, George, 329

  Gillespie, Richard, 87

  Gilmartin, Raymond, 106, 107

  Gioia, Dennis, 568–69

  Giscard d’Estaing, Olivier, 125

  Gladwell, Malcolm, 534

  Glass-Steagall Act, 102, 200

  Glauber, Robert, 403–4

  Global Financial System project, 455–56

  globalization, 263, 387–88

  “Globalization of Markets, The” (Levitt), 263

  Goldberg, Carol, 157

  “Golden Passports” (Van Maanen), 392–95

  Goldman Sachs, 44, 72, 74, 105, 106, 122, 142, 199, 202, 207, 211–12, 289, 315, 459, 466, 469; donations to HBS, 474; Faculty-Business Executives Exchange Program, 475; financial crisis of 2007–10 and, 548; HBS grads at, 460, 468, 473, 474; Paulson and CDOs, 477–78; SEC charges against, 478; scholarship at HBS, 474, 477; sends employees to HBS, 473; Thain and, 475–77; Whitehead and, 473–75