Bøger af Bartley J. Madden

Conventional psychology says your brain fits stimuli into a symbolic map of the world and calculates actions in response, an idea established in the early days of computers. But actually, even a well-designed robot doesn't work that way. The better explanation is that your brain controls input perceptions through actions to reduce the discrepancy between what we are experiencing and what we want to experience. This field of study is called Perceptual Control Theory (PCT).PCT opens the way to innovative thinking about the behavior of all living creatures-especially people. With such a broad scope, as this book explains, PCT leads to insights that can help management achieve a firm's purpose through improvements in productivity, employee job satisfaction, and win-win relationships among the firm's key stakeholders.

PRAISE FOR VALUE CREATION PRINCIPLES"In Value Creation Principles, Madden introduces the Pragmatic Theory of the Firm that positions the firm as a system fueled by human capital, innovation, and, at a deeper level, imagination. He challenges us to understand how we know what we think we know in order to better discover faulty assumptions that often are camouflaged by language. His knowledge building loop offers guideposts to design experiments and organize feedback to facilitate early adaptation to a changed environment and to avoid being mired in ways of thinking rooted in 'knowledge' of what worked well in the past-a context far different from the context of today. His book explains a way of being that enables those who work for, or invest in, business firms to see beyond accounting silos and short-term quarterly earnings and to focus on capabilities instrumental for creating long-term future and sustainable value for the firm's stakeholders. I can't recommend this astounding book enough especially given its deep and timely insights for our world today."-John Seely Brown, former Chief Scientist for Xerox Corp and Director of its Palo Alto Research Center (PARC); co-author with Ann Pendleton-Jullian of Design Unbound: Designing for Emergence in a White Water World"In contrast to existing abstract theories of the firm, Madden's pragmatic theory of the firm connects management's decisions in a practical way to a firm's life cycle and market valuation. The book promotes a firm's knowledge building proficiency, relative to competitors, as the fundamental driver of a firm's long-term performance, which leads to insights about organizational capabilities, intangible assets, and excess shareholder returns. Value Creation Principles is ideally suited to facilitate progress in the New Economy by opening up the process by which firms build knowledge and create value, which is a needed step in revising how neoclassical economics treats the firm."-Tyler Cowen, Professor of Economics, George Mason University; co-author of the popular economics blog Marginal Revolution"Bartley Madden rightfully points out that both textbook and more advanced economic theories of the firm fail to address the concerns of top management and boards of directors. He offers a tantalizing pragmatic alternative that directly connects to quantitative changes in the firm's market value. His framework gives recognition to the importance of intangible assets, and his pragmatic approach is quite complementary to the Dynamic Capabilities framework that strategic managers implicitly and sometimes explicitly employ."-David J. Teece, Thomas W. Tusher Professor in Global Business, Faculty Director, Tusher Center for the Management of Intellectual Capital, Haas School of Business, University of California, Berkeley

* A stockvaluation book by one of the leading market practitioners in thefield who created the company life-cycle framework for valuationknown as CFROI.