Greed and corporate failure [electronic resource] the lessons from recent disasters
Hamilton, S.author.
Micklethwait, A.authoraut
This is the book for anyone who wants to know what really lies behind the scandals and disasters of global business that have marred the first few years of the twenty-first century. This book is not about stock market "bubbles". Nor is it about accounting scandals and craven auditors. Rather, it examines why companies fail. The authors postulate that the reasons companies fail are few, and all too common. Detailed studies of eight of the most famous recent failures identify six main causes: poor strategic decisions; over-expansion and ill-judged acquisitions; dominant CEOs; greed, hubris and a desire for power; failure of internal controls, and ineffective boards. The authors also set out what the prudent investor, board member or manager should be alert to but often is not.
Chapter 1 Introduction; Chapter 2 Barings and Allied Irish Bank: Lessons Ignored; Chapter 3 Enron: Paper Profits, Cash Losses; Chapter 4 WorldCom: Disconnected; Chapter 5 Tyco: Greed, Hubris and the 6000 Shower Curtain; Chapter 6 Marconi: Establishment to Wunderkind to Basketcase; Chapter 7 Swissair: Crashed and Burned; Chapter 8 Royal Ahold: Shopped Till He Dropped; Chapter 9 Parmalat: Milking the System; Chapter 10 Conclusions; Epilogue; List of Abbreviations; Glossary; Index
Includes index
This is the book for anyone who wants to know what really lies behind the scandals and disasters of global business that have marred the first few years of the twenty-first century. This book is not about stock market "bubbles". Nor is it about accounting scandals and craven auditors. Rather, it examines why companies fail. The authors postulate that the reasons companies fail are few, and all too common. Detailed studies of eight of the most famous recent failures identify six main causes: poor strategic decisions; over-expansion and ill-judged acquisitions; dominant CEOs; greed, hubris and a desire for power; failure of internal controls, and ineffective boards. The authors also set out what the prudent investor, board member or manager should be alert to but often is not.
Business failures
Corporations
Accounting
Greed and Corporate Failure
Greed and Corporate Failure