The large public corporations powering the U.S. economy—Churchill's Horses, in Bogie's metaphor—are underachievers, and all of us are paying the price. Why? The reasons are shrouded in the myths that these corporations use to mask their great power and disguise the interests it serves. Myth: the shareholders who own a public corporation control it by electing the directors who govern it. Anti-Myth (fact): shareholders of a public corporation don't elect the directors, and the directors don't govern the corporation. Shareholders don't even own the corporation in any meaningful sense of the word. Yet Churchill's Horses spend billions propping up the current price of their shares rather than invest the money in their (and our) future prosperity. Using many voices from current and recent business literature, Bogie leads you through myths and anti-myths to understand how public corporations have lost focus and ignored their most important stakeholders. Few readers will emerge with all their assumptions and beliefs intact.
Oliver Viellechner addresses the response behavior of incumbent firms when facing discontinuous change by innovative business models. Almost always, this entails a problem of inertia, i.e. the sluggishness of incumbent response due to insecurity in deciding on an adequate response strategy. Viellechner investigates disruptive change in the European airline industry during the 1990s, when low-cost airlines severely challenged established carriers. By conducting four case studies, he identifies new causes of inertia and reveals the role of top management teams in improving incumbent firms' responsiveness. Viellechner's new book is relevant to both researchers and managers. It links concepts of strategy, organizational and psychological research and sheds light on the new competitive structure of an industry which has been repeatedly challenged by entrants and external shocks.
#1 NEW YORK TIMES BESTSELLER • The author of The Devil in the White City and Dead Wake delivers an intimate chronicle of Winston Churchill and London during the Blitz—an inspiring portrait of courage and leadership in a time of unprecedented crisis “One of [Erik Larson’s] best books yet . . . perfectly timed for the moment.”—Time • “A bravura performance by one of America’s greatest storytellers.”—NPR NAMED ONE OF THE BEST BOOKS OF THE YEAR BY The New York Times Book Review • Time • Vogue • NPR • The Washington Post • Chicago Tribune • The Globe & Mail • Fortune • Bloomberg • New York Post • The New York Public Library • Kirkus Reviews • LibraryReads • PopMatters On Winston Churchill’s first day as prime minister, Adolf Hitler invaded Holland and Belgium. Poland and Czechoslovakia had already fallen, and the Dunkirk evacuation was just two weeks away. For the next twelve months, Hitler would wage a relentless bombing campaign, killing 45,000 Britons. It was up to Churchill to hold his country together and persuade President Franklin Roosevelt that Britain was a worthy ally—and willing to fight to the end. In The Splendid and the Vile, Erik Larson shows, in cinematic detail, how Churchill taught the British people “the art of being fearless.” It is a story of political brinkmanship, but it’s also an intimate domestic drama, set against the backdrop of Churchill’s prime-ministerial country home, Chequers; his wartime retreat, Ditchley, where he and his entourage go when the moon is brightest and the bombing threat is highest; and of course 10 Downing Street in London. Drawing on diaries, original archival documents, and once-secret intelligence reports—some released only recently—Larson provides a new lens on London’s darkest year through the day-to-day experience of Churchill and his family: his wife, Clementine; their youngest daughter, Mary, who chafes against her parents’ wartime protectiveness; their son, Randolph, and his beautiful, unhappy wife, Pamela; Pamela’s illicit lover, a dashing American emissary; and the advisers in Churchill’s “Secret Circle,” to whom he turns in the hardest moments. The Splendid and the Vile takes readers out of today’s political dysfunction and back to a time of true leadership, when, in the face of unrelenting horror, Churchill’s eloquence, courage, and perseverance bound a country, and a family, together.
A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
Gordon Corrigan's Mud, Blood and Poppycock overturned the myths that surround the First World War. Now he challenges our assumptions about the Second World War in this brilliant, caustic narrative that exposes just how close Britain came to losing. He reveals how Winston Churchill bears a heavy responsibility for the state of our forces in 1939, and how his interference in military operations caused a string of disasters. The reputations of some of our most famous generals are also overturned: above all, Montgomery, whose post-war stature owes more to his skill with a pen than talent for command. But this is not just a story of personalities. Gordon Corrigan investigates how the British, who had the biggest and best army in the world in 1918, managed to forget everything they had learned in just twenty years. The British invented the tank, but in 1940 it was the Germans who showed the world how to use them. After we avoided defeat, but the slimmest of margins, it was a very long haul to defeat Hitler's army, and one in which the Russians would ultimately bear the heaviest burden.
