New Ideas from Dead CEOs: Lasting Lessons from the Corner Office.
New Ideas from Dead CEOs: Lasting Lessons from the Corner Office, By Todd G. Buchholz, New York, NY: Harper Collins, 2007"New Ideas from Dead CEOs: Lasting Lessons From the Corner Office," by Todd G. Buchholz, takes the reader on an exploration of the formative life experiences of the men and women who would become the tycoons of the future. By presenting the sometimes humble beginnings and struggles of each, Buchholz succeeds in presenting them as determined and creative thinkers rather than as stereotypical driven-by-greed corporate executives. He then weaves these fascinating stories of triumphs and disappointments into lessons that can motivate and direct today's entrepreneurs and those of the future.
The CEOs whose stories are presented succeed through a combination of creativity and obsession, frequently under conditions that are--to say the least--suboptimal. For example, while Akio Morita, the future CEO of Sony, worked in his "'office', he had to duck under the neighbors' clotheslines, often festooned with baby diapers." About Estre Lauder, the author notes that she "doted on her formulations as if they were children" and that her son later recalled that his mother had spent more time in the lab and traveling than she spent at home. "She believed in her all-natural products as much as any mother believed in her children." Buchholz conveys his belief that it is within this obsession and creativity that the drive to succeed lies.
The chapters focus on three traits: drive, talent, and luck. Buchholz takes the reader through specific time periods within the economy, from the early stages of the depression through the marks of struggle that the reemerging economy left on the homes and hearts of Americans. He begins with A.P. Gianni and leads through the heart of the depression with Thomas Watson Sr. and Jr. of IBM, and Mary Kay Ash's experiments in her kitchen. The reader sees that the economy is slowly working its way out of a depression with Estre Lauder's cosmetic conquest, revealing only minimal traces of it in David Sarnoff's story within RCA.
The personal stories of the ten CEOs lead the reader to continue reading for their positive outlook. In addition, while avoiding the vice of oversimplification, they are completely accessible to the reader who lacks financial, accounting, banking, or regulation experience. The author assumes only a general sense of business practices on the part of his audience. However, if the reader happens to have previously acquired knowledge in the area, then the examples presented by Buchholz become even more invigorating and suspenseful as one experiences the move from the woes of the depression to the subsequent expansion of the economy.
One compelling and perhaps unfamiliar story is that of Amadeo Gianni. He had a dream of shattering the economic barrier that only allowed the wealthy to rely on banks for a means of payments and loans. The lingering catastrophe that was the San Francisco earthquake solidified his belief that average laborers needed financial institutions to borrow from in order to grow and build their future. Following the earthquake, Gianni saw beyond the panic, destruction, and mayhem to the heart of the city and decided to become the glue that held it and its citizenry together. Buchholz does not cast Gianni as a saint, but rather tries to understand what drove him. Was it a passion for progression of the economy or was it that Gianni was faced with more responsibilities as a child than many of us are exposed to within adulthood? Buchholz suggests that what drove Gianni was his dream to build the lives of average citizens and provide them with opportunities for a prosperous future.
Buchholz also tells the story of Ray Kroc, the indefatigable entrepreneur who established McDonalds. Kroc's beginning was slower than most Chief Executive Officers presented, but his drive did not falter. Kroc is depicted as someone who was not exactly a genius but remained steady throughout his trials and tribulations, successful through sheer hard work and determination. Kroc never lost his sense of focus on building and maintaining an empire that would outlast other corporations and franchises to come. In fact, that seems to have been the ultimate dream of all of the CEOs in this book: that they would be recognized not merely for their prestige, power, or domination but rather as people whose life stories would serve as timeless classics to be followed in the future.
Most chapters include a concise analysis of the "New Ideas" that emerge from the experience of the featured CEO. These "New Ideas" emerge from the hard work and dedicated spirit of the Chief Executive Officer. However, even where Buchholz inexplicably omits an explicit "New Ideas" section, in the chapters on Mary Kay Ash of Mary Kay Cosmetics and David Sarnoff of RCA, the reader can easily infer his or her own version of what is to be learned from each virtual mentor. For example, unlike other CEOs discussed in the book, David Sarnoff began his adventure with an "angel investor", a venture capitalist willing to make an investment in Sarnoff's technological ideas. After his early determination that his meager living life in Russia would not define his future, Sarnoff begins to climb the corporate ladder, driven by a passion to aid his family and to pursue a dream of technological advances within the economy, society, and the world. Ultimately, he steps over every obstacle through sheer internal drive and determination to lead the world through war times and guide the most respected government officials through his technological visions. Sarnoff's life, from his childhood to his final hours laying next to his old telegraph key, is presented as an exemplar for anyone with a passion for excellence that can be achieved through determination, drive, and most of all, vision led through the heart.
Mary Kay Ash's story also did not include an explicit "New Ideas" or a "Lessons Learned" segment of the chapter. The chapter on Ash focuses on her street smarts and book-wise skills. Circumstances led Ash to realize that if she wanted to support her family, she had to release herself from reliance on the powerful men in her life and start to depend on herself. Ash took necessary actions from selling pots and pans door to door with her later ex-husband to realizing the potential in the cosmetics industry and persevering through troubled personal and financial times during the Great Depression. Internally driven, she grew from the many events that went wrong in her life and from her unrelenting desire to support herself and her family to a person who believed that she could market herself and her cosmetics in a way that touched the lives of many women with little time for themselves or their enterprises. Even without an explicit section entitled "New Ideas," the reader can clearly see her ideas and experience in the need to break through many types of barriers, not only in the cosmetic industry, but in every aspect of the larger society.
The reader may find it difficult to suppress his or her imagination while reading this book, because Buchholz's detailed stories spark ideas and imaginative theories about the life being told. He weaves an enticing spell with examples from different industries, time periods, countries. He then snaps the reader out of these imaginative dreams to instill valuable lessons and ideas learned from each Chief Executive Officer. In this way, the author ensures that not only a story, but also a life lesson is extrapolated from the chapter. Through Walt Disney's cartoonist aspirations, for example, Buchholz explains to the reader how important it is to protect the assets one has labored over. The stories of Sony's Akio Morita, Wal-Mart's Sam Walton, and Madame C.J. Walker's Sarah Breedlove each exemplify the trait of internal passion. And each of the stories reflects the obsession found within the protagonists' souls, it represents the sheer will to remain perseverant over countless failures.
Buchholz explains that through the consecutive late nights, the constant whispers of "Quit" along the way by friends and foes, each Chief Executive Officer lived a life that shattered the preconceived notions. Extravagances earned by each Chief Executive Officer were the result not of corruption, theft, or deceit but rather of determination, drive, and tenacity. The CEOs in this book fought less with competitors than with themselves to achieve the success they desired. "I dare you," says Buchholz. "Search this book for the solitary secret that will guarantee riches while protecting you from being flung against a wall by competitors. You won't find it." There are no such secrets. "New ideas" were presented as already revealed secrets that an aspiring entrepreneur should not consider a mantra. Rather, the "New ideas" presented should be considered guidance in following the call of a prospective leader, mentor, or executive. These "ideas" should be read not solely with the mind or in pursuit of instant success. Instead, they should be read with the will and power of the heart, the desire--like that of the ten "giants" to achieve greatness that will stand the test of time. Without heart, we remain, "free riders on the obsession of others."
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| Author: | Chopra, Rachel |
|---|---|
| Publication: | American Economist |
| Article Type: | Book review |
| Geographic Code: | 1USA |
| Date: | Sep 22, 2009 |
| Words: | 1523 |
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