Tag Archives: Walter Bagehot

Milton Friedman’s Philosophy: Invaluable at First but Deadly Afterward

2020 marks the 50th  anniversary of Chicago economist Milton Friedman’s famous (or infamous, depending on your point-of-view) claim that the only social purpose of business is to increase profits. This doctrine proved immensely popular among corporate managers but has been … Continue reading →

Posted in Change, General | Tagged Anglo-Saxon capitalism, argumentative theory of reason, Ayn Rand, change, complex systems, conglomerates, ecological perspective, Henry Mintzberg, innovation, leveraged buyouts, Milton Friedman, University of Chicago, Walter Bagehot | Comments Off on Milton Friedman’s Philosophy: Invaluable at First but Deadly Afterward

The Great Transformation: a Historical Perspective

The sixth annual Drucker Forum takes place in Vienna from November 13 to 14. The theme is the “The Great Transformation: Managing Our Way to Prosperity” and the forum features a pantheon of the ABCs (academics, business people, and consultants) … Continue reading →

Posted in Change, General | Tagged Adrian Wooldridge, Andrew Hill, Clayton Christensen, Conservative, Drucker Forum, Ecological Vision, Gary Hamel, Gemeinschaft, Gesellschaft, Great Transformation, liberal, Martin Wolf, Milton Friedman, Peter Drucker, Rita McGrath, Roger Martin, The Fatal Conceit, Walter Bagehot | Comments Off on The Great Transformation: a Historical Perspective

The “3Rs” of Management Part II: Rationality and Power

Walter Bagehot once wrote that “The whole history of civilization is strewn with creeds and institutions which were invaluable at first, and deadly afterwards”. Following on my blog from last week, I think that this is a fair description of … Continue reading →

Posted in Change, General | Tagged agency theory, Bent Flyvbjerg, Bertrand Russel, Bertrand Russell, domination, ecological perspective, ecological rationality, exploitation, Harold Leavitt, hunter-gatherer, innovation, investor capitalism, Machiavelli, means and ends, Nietzsche, power, Rakesh Khurana, Rationality and Power, rationalization, Realpolitik, Realrationalitat, shareholder value model, Walter Bagehot | Comments Off on The “3Rs” of Management Part II: Rationality and Power

Drucker Forum: Capitalism 2.0 – New Horizons for Managers: Asking the Right Questions

The Drucker Forum, which is taking place in Vienna from November 15 to 16, is now only a month away. It promises to be an excellent conference, with exciting speakers and the promise of great discussions. There will be some … Continue reading →

Posted in Change, General | Tagged Adrian Wooldridge, Anglo-Saxon capitalism, Bent Flyvbjerg, CEO pay, change, Chicago Booth, complex systems, Fixing the Game, Global Drucker Forum, Gretchen Morgenson, hedge-fund, Masters of Management, Peter Drucker, power, private-equity, Roger Martin, Steven Kaplan, Walter Bagehot | 1 Comment

Breaking the Cake of Custom: A Cavalry Charge with Fresh Horses

Organizations have to do two things to survive in a sustainable fashion: Conserve their core business Innovate to change their business The current term for this ability of organizations to both “exploit” and “explore” is “ambidexterity”, but it has long … Continue reading →

Posted in Change | Tagged Alfred North Whitehead, cake of custom, conservation, Dan Señor, habit, innovation, Israel, Mormon, noveltyPlato, Peter Drucker, progress.order, Saul Singer, think and act, Walter Bagehot | Comments Off on Breaking the Cake of Custom: A Cavalry Charge with Fresh Horses