Summary of Charles Schwab

How One Company Beat Wall Street and Reinvented the Brokerage Industry

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Charles Schwab book summary
Pioneer Charles R. Schwab shaped a progressive, values-driven brokerage around two main ideas: serve the customer honestly and change with the times. Then, change some more.

Rating

7 Overall

6 Applicability

7 Innovation

8 Style

Recommendation

Business writer John Kador describes the evolution of Charles Schwab & Company, a former discount brokerage blessed with the ability to transform itself through four different incarnations. Kador emphasizes Schwab’s commitment to integrity and customer service, a code that enabled it to prevail despite upheavals and threats. While the book focuses on the company, the running portrait of Chuck Schwab gives it a personal core. Kador highlights Schwab’s concern with exercising his values and leading a highly principled business amid an often shady industry he saw as corrupted by greed. Kador’s engaging narrative style is designed to inform and entertain general investors, executives and managers. At times, the discussion of Chuck Schwab and his company sounds almost too laudatory, as if the book is an in-house publicity piece. getAbstract.com recommends that readers should take all that sugar with a grain of salt, given this otherwise compelling dish.

In this summary, you will learn

  • How Charles R. Schwab launched his brokerage company and shaped it according to his personal moral code
  • How the firm has changed repeatedly over time to adapt to regulatory and economic shifts, to innovate and to remain successful
 

Summary

Four Upheavals
Charles Schwab & Company began as a pure discount brokerage and evolved through four major upheavals to become the company it is today. A firm foundation of core values enables the organization to be flexible and to reinvent itself. Founder Charles R. Schwab imbued ...
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About the Author

John Kador is the author of four books, including the business bestseller Net Ready: Strategies for Success in the E-conomy (with Amir Hartman and John Sifonis). He is also a freelance writer for a number of business publications, and he has written for CEOs, including Charles B. Wang, Chairman of Computer Associates International, Inc.


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