Author: Roger Lowenstein
Publisher: Random House Trade Paperbacks
ISBN: 0375758259
Category : Business & Economics
Languages : en
Pages : 290
Book Description
“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist
When Genius Failed
Author: Roger Lowenstein
Publisher: Random House Trade Paperbacks
ISBN: 0375758259
Category : Business & Economics
Languages : en
Pages : 290
Book Description
“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist
Publisher: Random House Trade Paperbacks
ISBN: 0375758259
Category : Business & Economics
Languages : en
Pages : 290
Book Description
“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist
The Rise and Fall of Management
Author: Dr Gordon Pearson
Publisher: Gower Publishing, Ltd.
ISBN: 1409459551
Category : Business & Economics
Languages : en
Pages : 299
Book Description
Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.
Publisher: Gower Publishing, Ltd.
ISBN: 1409459551
Category : Business & Economics
Languages : en
Pages : 299
Book Description
Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.
The Rise and Fall of Management
Author: Gordon Pearson
Publisher: CRC Press
ISBN: 131701765X
Category : Business & Economics
Languages : en
Pages : 299
Book Description
Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.
Publisher: CRC Press
ISBN: 131701765X
Category : Business & Economics
Languages : en
Pages : 299
Book Description
Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.
IBM
Author: James W. Cortada
Publisher: MIT Press
ISBN: 0262547821
Category : Computers
Languages : en
Pages : 747
Book Description
A history of one of the most influential American companies of the last century. For decades, IBM shaped the way the world did business. IBM products were in every large organization, and IBM corporate culture established a management style that was imitated by companies around the globe. It was “Big Blue, ” an icon. And yet over the years, IBM has gone through both failure and success, surviving flatlining revenue and forced reinvention. The company almost went out of business in the early 1990s, then came back strong with new business strategies and an emphasis on artificial intelligence. In this authoritative, monumental history, James Cortada tells the story of one of the most influential American companies of the last century. Cortada, a historian who worked at IBM for many years, describes IBM's technology breakthroughs, including the development of the punch card (used for automatic tabulation in the 1890 census), the calculation and printing of the first Social Security checks in the 1930s, the introduction of the PC to a mass audience in the 1980s, and the company's shift in focus from hardware to software. He discusses IBM's business culture and its orientation toward employees and customers; its global expansion; regulatory and legal issues, including antitrust litigation; and the track records of its CEOs. The secret to IBM's unequalled longevity in the information technology market, Cortada shows, is its capacity to adapt to changing circumstances and technologies.
Publisher: MIT Press
ISBN: 0262547821
Category : Computers
Languages : en
Pages : 747
Book Description
A history of one of the most influential American companies of the last century. For decades, IBM shaped the way the world did business. IBM products were in every large organization, and IBM corporate culture established a management style that was imitated by companies around the globe. It was “Big Blue, ” an icon. And yet over the years, IBM has gone through both failure and success, surviving flatlining revenue and forced reinvention. The company almost went out of business in the early 1990s, then came back strong with new business strategies and an emphasis on artificial intelligence. In this authoritative, monumental history, James Cortada tells the story of one of the most influential American companies of the last century. Cortada, a historian who worked at IBM for many years, describes IBM's technology breakthroughs, including the development of the punch card (used for automatic tabulation in the 1890 census), the calculation and printing of the first Social Security checks in the 1930s, the introduction of the PC to a mass audience in the 1980s, and the company's shift in focus from hardware to software. He discusses IBM's business culture and its orientation toward employees and customers; its global expansion; regulatory and legal issues, including antitrust litigation; and the track records of its CEOs. The secret to IBM's unequalled longevity in the information technology market, Cortada shows, is its capacity to adapt to changing circumstances and technologies.
The Rise and Fall of Business Firms
Author: S. V. Buldyrev
Publisher: Cambridge University Press
ISBN: 1107175488
Category : Business & Economics
Languages : en
Pages : 239
Book Description
Combining a statistical physics approach and rigorous econometric analysis, this new framework looks at growth and decline in business firms.
Publisher: Cambridge University Press
ISBN: 1107175488
Category : Business & Economics
Languages : en
Pages : 239
Book Description
Combining a statistical physics approach and rigorous econometric analysis, this new framework looks at growth and decline in business firms.
Getting Things Done
Author: David Allen
Publisher: Penguin
ISBN: 0698161866
Category : Business & Economics
Languages : en
Pages : 354
Book Description
The book Lifehack calls "The Bible of business and personal productivity." "A completely revised and updated edition of the blockbuster bestseller from 'the personal productivity guru'"—Fast Company Since it was first published almost fifteen years ago, David Allen’s Getting Things Done has become one of the most influential business books of its era, and the ultimate book on personal organization. “GTD” is now shorthand for an entire way of approaching professional and personal tasks, and has spawned an entire culture of websites, organizational tools, seminars, and offshoots. Allen has rewritten the book from start to finish, tweaking his classic text with important perspectives on the new workplace, and adding material that will make the book fresh and relevant for years to come. This new edition of Getting Things Done will be welcomed not only by its hundreds of thousands of existing fans but also by a whole new generation eager to adopt its proven principles.
Publisher: Penguin
ISBN: 0698161866
Category : Business & Economics
Languages : en
Pages : 354
Book Description
The book Lifehack calls "The Bible of business and personal productivity." "A completely revised and updated edition of the blockbuster bestseller from 'the personal productivity guru'"—Fast Company Since it was first published almost fifteen years ago, David Allen’s Getting Things Done has become one of the most influential business books of its era, and the ultimate book on personal organization. “GTD” is now shorthand for an entire way of approaching professional and personal tasks, and has spawned an entire culture of websites, organizational tools, seminars, and offshoots. Allen has rewritten the book from start to finish, tweaking his classic text with important perspectives on the new workplace, and adding material that will make the book fresh and relevant for years to come. This new edition of Getting Things Done will be welcomed not only by its hundreds of thousands of existing fans but also by a whole new generation eager to adopt its proven principles.
The Rise and Fall...and Rise Again
Author: Gerald Ratner
Publisher: John Wiley & Sons
ISBN: 1906465290
Category : Biography & Autobiography
Languages : en
Pages : 394
Book Description
In 1991, Gerald Ratner made a landmark speech to the Institute of Directors After over 25 years in the jewellery trade, Gerald Ratner was one of the most well-known and successful retailers of his generation. He had built up a highly profitable, multi-million pound international business, including household names like Ratners, H Samuel, Ernest Jones, Watches of Switzerland, as well as over one thousand stores in the US. Being asked to give the keynote address at the Institute of Directors' annual conference at The Royal Albert Hall was a great honour and should have been the crowning glory on two decades of empire building. Gerald's speech was seized upon by the media after he included jokes about the quality of some of the shops' products. But the far-reaching impact that these jokes would have no one could have predicted. "Even though I had once had my name above hundreds of shops up and down the country, it had become more famous as a byword for crap. It took several years to realise just what an impact the speech had had on every aspect of my life." Press coverage of hardback version: "... a rollicking good read" —Michael Skapinker, The FT "Most business autobiographies are so overlaid with ghost-writerly blandness that the character of the subject is lost. Mr Ratner had help with this one, but fortunately he is still there: obsessive, funny and a bit of a scoundrel - the last mitigated by how well he knows it." —The FT "self-effacing, revealing and human" —Luke Johnson, FT Business Life "A few ill-chosen words to a well-heeled audience 16 years ago reduced Britain's biggest jeweller to poverty. Now he reveals how he bounced back" —Jewish Chronicle "...contains lessons for us all" —Management Today "...worth its weight in gold" —The Independent Amazon reviews "Everyone knows the story of Gerald's rise and fall - what an amazing story and well worth reading.... I couldn't put it down, totally gripping and inspiring stuff, you really couldn't see this coming from such an energetic, passionate man" "I have read many bio's from business leaders and most are boring 'how to get rich' or 'let me tell you a long list of not very interesting stories with all the good bits missed out'. Gerald's book is very different it is a great read, I could not put it down" "Sobering and enlightening at the same time. A great read and a morality tale of our time."
Publisher: John Wiley & Sons
ISBN: 1906465290
Category : Biography & Autobiography
Languages : en
Pages : 394
Book Description
In 1991, Gerald Ratner made a landmark speech to the Institute of Directors After over 25 years in the jewellery trade, Gerald Ratner was one of the most well-known and successful retailers of his generation. He had built up a highly profitable, multi-million pound international business, including household names like Ratners, H Samuel, Ernest Jones, Watches of Switzerland, as well as over one thousand stores in the US. Being asked to give the keynote address at the Institute of Directors' annual conference at The Royal Albert Hall was a great honour and should have been the crowning glory on two decades of empire building. Gerald's speech was seized upon by the media after he included jokes about the quality of some of the shops' products. But the far-reaching impact that these jokes would have no one could have predicted. "Even though I had once had my name above hundreds of shops up and down the country, it had become more famous as a byword for crap. It took several years to realise just what an impact the speech had had on every aspect of my life." Press coverage of hardback version: "... a rollicking good read" —Michael Skapinker, The FT "Most business autobiographies are so overlaid with ghost-writerly blandness that the character of the subject is lost. Mr Ratner had help with this one, but fortunately he is still there: obsessive, funny and a bit of a scoundrel - the last mitigated by how well he knows it." —The FT "self-effacing, revealing and human" —Luke Johnson, FT Business Life "A few ill-chosen words to a well-heeled audience 16 years ago reduced Britain's biggest jeweller to poverty. Now he reveals how he bounced back" —Jewish Chronicle "...contains lessons for us all" —Management Today "...worth its weight in gold" —The Independent Amazon reviews "Everyone knows the story of Gerald's rise and fall - what an amazing story and well worth reading.... I couldn't put it down, totally gripping and inspiring stuff, you really couldn't see this coming from such an energetic, passionate man" "I have read many bio's from business leaders and most are boring 'how to get rich' or 'let me tell you a long list of not very interesting stories with all the good bits missed out'. Gerald's book is very different it is a great read, I could not put it down" "Sobering and enlightening at the same time. A great read and a morality tale of our time."
The Rise and Fall of Countryside Management
Author: Ian D. Rotherham
Publisher: Routledge
ISBN: 1135014892
Category : Nature
Languages : en
Pages : 373
Book Description
For at least half a century since the emergence of Country Parks and Forest Parks, countryside services have provided leisure, tourism, conservation, restoration and regeneration across Britain. Yet these services are currently being decimated as public services are sacrificed to the new era of austerity. The role and importance of countryside management have been barely documented, and the consequences and ramifications of cuts to these services are overlooked and misunderstood. This volume rigorously examines the issues surrounding countryside management in Britain. The author brings together the results of stakeholder workshops and interviews, and in-depth individual case studies, as well as a major study for the Countryside Agency which assessed and evaluated every countryside service provision in England. A full and extensive literature review traces the ideas of countryside management back to their origins, and the author considers the wider relationships and ramifications with countryside and ranger provisions around the world, including North America and Europe. The book provides a critical overview of the history and importance of countryside management, detailing the achievements of a largely forgotten sector and highlighting its pivotal yet often underappreciated role in the wellbeing of people and communities. It serves as a challenge to students, planners, politicians, conservationists, environmentalists, and land managers, in a diversity of disciplines that work with or have interests in countryside, leisure and tourism, community issues, education, and nature conservation.
Publisher: Routledge
ISBN: 1135014892
Category : Nature
Languages : en
Pages : 373
Book Description
For at least half a century since the emergence of Country Parks and Forest Parks, countryside services have provided leisure, tourism, conservation, restoration and regeneration across Britain. Yet these services are currently being decimated as public services are sacrificed to the new era of austerity. The role and importance of countryside management have been barely documented, and the consequences and ramifications of cuts to these services are overlooked and misunderstood. This volume rigorously examines the issues surrounding countryside management in Britain. The author brings together the results of stakeholder workshops and interviews, and in-depth individual case studies, as well as a major study for the Countryside Agency which assessed and evaluated every countryside service provision in England. A full and extensive literature review traces the ideas of countryside management back to their origins, and the author considers the wider relationships and ramifications with countryside and ranger provisions around the world, including North America and Europe. The book provides a critical overview of the history and importance of countryside management, detailing the achievements of a largely forgotten sector and highlighting its pivotal yet often underappreciated role in the wellbeing of people and communities. It serves as a challenge to students, planners, politicians, conservationists, environmentalists, and land managers, in a diversity of disciplines that work with or have interests in countryside, leisure and tourism, community issues, education, and nature conservation.
Managing
Author: Henry Mintzberg
Publisher: Berrett-Koehler Publishers
ISBN: 1576758958
Category : Business & Economics
Languages : en
Pages : 321
Book Description
A half century ago Peter Drucker put management on the map. Leadership has since pushed it off. Henry Mintzberg aims to restore management to its proper place: front and center. “We should be seeing managers as leaders.” Mintzberg writes, “and leadership as management practiced well.” This landmark book draws on Mintzberg's observations of twenty-nine managers, in business, government, health care, and the social sector, working in settings ranging from a refugee camp to a symphony orchestra. What he saw—the pressures, the action, the nuances, the blending—compelled him to describe managing as a practice, not a science or a profession, learned primarily through experience and rooted in context. But context cannot be seen in the usual way. Factors such as national culture and level in hierarchy, even personal style, turn out to have less influence than we have traditionally thought. Mintzberg looks at how to deal with some of the inescapable conundrums of managing, such as, How can you get in deep when there is so much pressure to get things done? How can you manage it when you can't reliably measure it? This book is vintage Mintzberg: iconoclastic, irreverent, carefully researched, myth-breaking. Managing may be the most revealing book yet written about what managers do, how they do it, and how they can do it better.
Publisher: Berrett-Koehler Publishers
ISBN: 1576758958
Category : Business & Economics
Languages : en
Pages : 321
Book Description
A half century ago Peter Drucker put management on the map. Leadership has since pushed it off. Henry Mintzberg aims to restore management to its proper place: front and center. “We should be seeing managers as leaders.” Mintzberg writes, “and leadership as management practiced well.” This landmark book draws on Mintzberg's observations of twenty-nine managers, in business, government, health care, and the social sector, working in settings ranging from a refugee camp to a symphony orchestra. What he saw—the pressures, the action, the nuances, the blending—compelled him to describe managing as a practice, not a science or a profession, learned primarily through experience and rooted in context. But context cannot be seen in the usual way. Factors such as national culture and level in hierarchy, even personal style, turn out to have less influence than we have traditionally thought. Mintzberg looks at how to deal with some of the inescapable conundrums of managing, such as, How can you get in deep when there is so much pressure to get things done? How can you manage it when you can't reliably measure it? This book is vintage Mintzberg: iconoclastic, irreverent, carefully researched, myth-breaking. Managing may be the most revealing book yet written about what managers do, how they do it, and how they can do it better.
Rise and Fall of Strategic Planning
Author: Henry Mintzberg
Publisher: Simon and Schuster
ISBN: 1439107351
Category : Business & Economics
Languages : en
Pages : 637
Book Description
In this definitive and revealing history, Henry Mintzberg, the iconoclastic former president of the Strategic Management Society, unmasks the press that has mesmerized so many organizations since 1965: strategic planning. One of our most brilliant and original management thinkers, Mintzberg concludes that the term is an oxymoron -- that strategy cannot be planned because planning is about analysis and strategy is about synthesis. That is why, he asserts, the process has failed so often and so dramatically. Mintzberg traces the origins and history of strategic planning through its prominence and subsequent fall. He argues that we must reconceive the process by which strategies are created -- by emphasizing informal learning and personal vision -- and the roles that can be played by planners. Mintzberg proposes new and unusual definitions of planning and strategy, and examines in novel and insightful ways the various models of strategic planning and the evidence of why they failed. Reviewing the so-called "pitfalls" of planning, he shows how the process itself can destroy commitment, narrow a company's vision, discourage change, and breed an atmosphere of politics. In a harsh critique of many sacred cows, he describes three basic fallacies of the process -- that discontinuities can be predicted, that strategists can be detached from the operations of the organization, and that the process of strategy-making itself can be formalized. Mintzberg devotes a substantial section to the new role for planning, plans, and planners, not inside the strategy-making process, but in support of it, providing some of its inputs and sometimes programming its outputs as well as encouraging strategic thinking in general. This book is required reading for anyone in an organization who is influenced by the planning or the strategy-making processes.
Publisher: Simon and Schuster
ISBN: 1439107351
Category : Business & Economics
Languages : en
Pages : 637
Book Description
In this definitive and revealing history, Henry Mintzberg, the iconoclastic former president of the Strategic Management Society, unmasks the press that has mesmerized so many organizations since 1965: strategic planning. One of our most brilliant and original management thinkers, Mintzberg concludes that the term is an oxymoron -- that strategy cannot be planned because planning is about analysis and strategy is about synthesis. That is why, he asserts, the process has failed so often and so dramatically. Mintzberg traces the origins and history of strategic planning through its prominence and subsequent fall. He argues that we must reconceive the process by which strategies are created -- by emphasizing informal learning and personal vision -- and the roles that can be played by planners. Mintzberg proposes new and unusual definitions of planning and strategy, and examines in novel and insightful ways the various models of strategic planning and the evidence of why they failed. Reviewing the so-called "pitfalls" of planning, he shows how the process itself can destroy commitment, narrow a company's vision, discourage change, and breed an atmosphere of politics. In a harsh critique of many sacred cows, he describes three basic fallacies of the process -- that discontinuities can be predicted, that strategists can be detached from the operations of the organization, and that the process of strategy-making itself can be formalized. Mintzberg devotes a substantial section to the new role for planning, plans, and planners, not inside the strategy-making process, but in support of it, providing some of its inputs and sometimes programming its outputs as well as encouraging strategic thinking in general. This book is required reading for anyone in an organization who is influenced by the planning or the strategy-making processes.