andreweverett360 Book Review, Management

Understanding Organizations Finally!

Understanding Organizations Finally! Structuring in Sevens

by Henry Mintzberg

The four forms of organization are Personal (autocracy), Programmed (bureaucracy), Professional (meritocracy), and Project (adhocracy). Respectively, the coordinating mechanism of each form is direct supervision, standardization of work, standardization of skills, and mutual adjustment.

That last term should be defined before going further, as Mintzberg uses it throughout the book. “Coordination and control are two different concepts. Mutual adjustment is coordination without control… Currently, the literature of management gives considerable attention to teams, task forces, and networks, all manifestations of mutual adjustment.”

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andreweverett360 Book Review, Humor

The Peter Principle

The Peter Principle: Why Things Always Go Wrong

by Laurence J. Peter (1919-1990) and Raymond Hull (1919-1985)

For anyone who is frustrated with the dysfunction of a bureaucracy, this satirical study of hierarchiology—the social science of hierarchies—will shed some light. The Peter Principle states, “In a hierarchy, everyone tends to rise to his level of incompetence.”

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andreweverett360 Book Review, Management

Authentic Leadership

Authentic Leadership: Rediscovering the Secrets to Creating Lasting Value

by Bill George

Former Medtronic chairman and CEO Bill George wrote this book following a series of corporate scandals, including Enron, Sunbeam, Tyco, and Worldcom—just to name a few. These companies imploded because management was fixated on maximizing short-term shareholder value.

To paraphrase my favorite line in the book: you are running a business, not a stock. That said, the compound annual growth rate of Medtronic split-adjusted stock price was 28.5% during George’s 12-year tenure, according to my calculations. Not too shabby!

The first part of the book deals with the character, values, and sense of purpose required to inspire employees. George also shares his wisdom and personal experiences regarding customers, quality, market share, growth, innovation, acquisitions, FDA approval delays, Wall Street analysts, and corporate governance.

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