
Founder connections
- Joe CoulombePraised as favorite management bookIn his memoir’s Preface, Coulombe calls this his favorite management book and quotes its view of profit. The edition he read is unknown; no company policy is attributed to it.Source
Summary
Donald K. Clifford, Jr. and Richard E. Cavanagh examine management in growing American midsize companies. The contents connect the ambition and skills needed for growth with competitive strategy and the formation of a strong team. Their discussion of company purpose treats profit as a necessary measure of performance and an obligation to investors, while placing wealth creation among the results of doing other work well. That view brings attention to the business practices behind financial results. The book approaches growth through the organization and direction of a company, bringing questions about competition, teams and purpose into the same management discussion.
Why read it Our view
Use its sections on growth, strategy and teams to examine the work behind financial results. Keep profit measures connected to the operating choices they are meant to assess.