Review by Choice Review
Throughout The Outsiders, Thorndike shares sound fiscal management principles that he inevitably practices as founder and managing director of an investment firm and board member of eight firms. Not surprisingly, the unconventional CEOs he discusses in this volume determine their firm's success based on how well their own stocks outperform those of their peers. In short, they think like investors. Aspiring business school graduates enamored with maverick entrepreneurs and management fads might take note of the unassuming business principles these thoughtful business leaders practice. Among the lessons discussed: watch the cash flows over time to determine profitability, rate of return, and liquidity; patiently maintain the firm's established business concept and takeover acquisitions judiciously; simultaneously, however, challenge conventional wisdom and demonstrate exceptional insight when moving firms in bold directions. These "outsiders" practice highly effective management principles while stewarding some highly recognized firms, including General Dynamics, Ralston Purina, General Cinema, Berkshire Hathaway, and The Washington Post Company. Thorndike, with the assistance of some skilled second-year Harvard Business School students, has produced a thoughtful work, particularly instructive for aspiring managers. An epilogue provides a ten-point checklist for making resource allocation decisions. Summing Up: Recommended. Undergraduate business students at all levels, practitioners, and general readers. J. P. Miller formerly, Simmons College
Copyright American Library Association, used with permission.
Review by Library Journal Review
In this heavily researched group of profiles, Thorndike, the founder of a private equity firm, identifies eight CEOs as among the most effective but least publicized business leaders of the 20th century. The author began his work on corporate outliers a decade ago with a conference presentation on Henry Singleton, the CEO of Teledyne. His research on seven other iconoclastic leaders who eschewed the limelight while consistently adding value for their stockholders provides a new way to measure the performance of CEOs. Thorndike shows how a company's returns relative to peers and the market as a whole and the increase in per share value give a true indication of the health of a company. Case studies are provided for each CEO as well as comparisons to peer companies over the same period. VERDICT Thorndike's analysis of these overlooked business executives will appeal to business school students and investors looking for a way to evaluate companies outside marketplace chatter. Highly recommended.-John Rodzvilla, Emerson Coll., Boston (c) Copyright 2012. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
