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Searching for a corporate savior : the irrational quest for charismatic CEOs / Rakesh Khurana.
Author
Khurana, Rakesh, 1967-
[Browse]
Format
Book
Language
English
Published/Created
Princeton, N.J. : Princeton University Press, 2002.
Description
xx, 295 pages ; 24 cm
Availability
Available Online
De Gruyter Princeton University Press eBook-Package Backlist 2000-2013
Copies in the Library
Location
Call Number
Status
Location Service
Notes
Firestone Library - Stacks
HF5549.5.R44 K48 2002
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Subject(s)
Executives
—
Recruiting
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Chief executive officers
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Executive succession
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Summary note
Publisher's description: Corporate CEOs are headline news. Stock prices rise and fall at word of their hiring and firing. Business media debate their merits and defects as if individual leaders determined the health of the economy. Yet we know surprisingly little about how CEOs are selected and dismissed or about their true power. This is the first book to take us into the often secretive world of the CEO selection process. Rakesh Khurana's findings are surprising and disturbing. In recent years, he shows, corporations have increasingly sought CEOs who are above all else charismatic, whose fame and force of personality impress analysts and the business media, but whose experience and abilities are not necessarily right for companies' specific needs. The labor market for CEOs, Khurana concludes, is far less rational than we might think. Khurana's findings are based on a study of the hiring and firing of CEOs at over 850 of America's largest companies and on extensive interviews with CEOs, corporate board members, and consultants at executive search firms. Written with exceptional clarity and verve, the book explains the basic mechanics of the selection process and how hiring priorities have changed with the rise of shareholder activism. Khurana argues that the market for CEOs, which we often assume runs on cool calculation and the impersonal forces of supply and demand, is culturally determined and too frequently inefficient. Its emphasis on charisma artificially limits the number of candidates considered, giving them extraordinary leverage to demand high salaries and power. It also raises expectations and increases the chance that a CEO will be fired for failing to meet shareholders' hopes. The result is corporate instability and too little attention to long-term strategy. The book is a major contribution to our understanding of corporate culture and the nature of markets and leadership in general.
Bibliographic references
Includes bibliographical references (p. 273-288) and index.
Contents
"Everyone Knew He Was Brilliant": The Wooing of Jamie Dimon
A Different Kind of Market
The Rise of the Charismatic CEO
Board Games: The Role of Directors in CEO Search
The Go-Betweens: The Role of the Executive Search Firm
Crowning Napoleon: The Making of the Charismatic Candidate
Open Positions, Closed Shops: Learning from the External CEO Succession Process.
Show 4 more Contents items
ISBN
0691074372 ((alk. paper))
9780691074375 ((alk. paper))
0691120390 ((pbk.))
9780691120393 ((pbk.))
LCCN
2002070379
OCLC
49681116
International Article Number
9780691074375
Statement on language in description
Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage.
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Searching for a Corporate Savior : The Irrational Quest for Charismatic CEOs / Rakesh Khurana.
id
99129013300906421
Searching for a corporate savior : the irrational quest for charismatic CEOs / Rakesh Khurana.
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SCSB-8714620