Businesses, like people, follow a natural life cycle: They’re born, they grow, they live and they die. Only 15% of all firms reach 30 years and only 5% make it to their 50th anniversaries. Yet some organizations defy the odds, continue to produce and contribute many decades beyond an expected life span. These “serial innovators” go through a constant series of changes, perpetually reinventing and adapting themselves to shifting markets and environments. McKinsey executive Claudio Feser delves into economics, sociology, neuroscience and psychology – one chunk at a time using the connective framework of an engaging business novella. He sets out to help you understand what drives long-lived companies to outperform and outlast their competitors. Feser’s personable story of Carl Berger, a bright CEO who reshapes his firm, illustrates how leaders can apply the latest findings – explained here – in management, personnel practices, cognitive science and corporate longevity. getAbstract recommends this imaginative, wide-ranging book to executives seeking a strategy for discovering the corporate fountain of youth.
In this summary, you will learn
- Why, like all people, most businesses mature, age and die;
- How behavioral economics, psychology, sociology and neuroscience provide clues to extending corporate life; and
- How “serial innovators” defy the odds to survive and thrive for decades.
About the Author
Claudio Feser is a director of McKinsey & Company. He heads the company’s CEO Network, focusing on executive training and coaching.
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Comment on this summary
5 years agothe author Mr Claudio Feser has excellently narrated how an Organisation\ Firm not only flourishes but also enjoys its existence with growing capacities by its Personnel who take consistent, and persevering care, who resort to constant and never-ending innovative ideas for a healthy and up to date living of the organisation. Burning Desire to excel, passionate pursuit of excellence, adapting relavant changes really bring long life to the organisation. A good Culture fosters the spirit os all concerned to take the Firm to a greater height. I appreciate the work of the author.
with Regards and Gratitude. P.Jaipuria, Sr Divisional Manager, LIC of India, Karimnagar.
6 years agogood summary
5 years agoSir I will be thankful to u for sending me more and more such reviews.