Book Review of "The Business Biography of John Wanamaker, Founder and Builder.""Let us understand the real thing; that it is not the building that makes the business, it is not the merchandise that makes the business, it is the people. "I astonished someone last week, as I said: “When I go downstairs and look around, I look very little at the merchandise. I can tell by the air whether the store is in proper form. "It is the people that I look at, the people. I cannot help but see the goods, but I see not the goods as much as the people. I wonder, as I look at the beautiful embroidery, I wonder how some one thought of the color. "It is all people, people, people." John Wanamaker, The Business Biography of John Wanamaker It seems all too predictable that our 21st Century chief executives always have to "relearn" that business is always about "people, people, people," isn't it? Peter E. Greulich Select the image or the link below to read a book review of John Wanamaker's biography.
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Herbert Hoover's Thoughts on the Liberalism of President Woodrow Wilson."My association with him was such that I formed convictions as to his philosophy of life, his character and his abilities which have deepened during these four decades. My approval of him is based solely on my own experiences with him and my knowledge of the forces with which he had to deal. . . . He possessed great clarity of thought, with a quick ability to reduce problems to their bare bones. . . . His public addresses were often clothed with great eloquence. "As a Jeffersonian Democrat, he was a "liberal" of the nineteenth-century cast. His training in history and economics rejected every scintilla of socialism, which today connotes a liberal. His philosophy of American living was based upon free enterprise, both in social and in economic systems. He held that economic system must be regulated to prevent monopoly and unfair practices. He believed that federal intervention in the economic or social life of our people was justified only when the task was greater than the states or individual could perform for themselves. . . . "Coming from an academic ivory tower with only a brief political career, he at times stumbled badly in the thicket of politics, . . . but . . . with his courage and eloquence, he carried a message of hope for the independence of nations, the freedom of men and lasting peace. Never since his time has any man risen to the political and spiritual heights that came to him. His proclaimed principles of self-government and independence aided the spread of freedom to twenty-two races at the time of the Armistice." Herbert Hoover, The Ordeal of Woodrow Wilson, 1958 Sometimes we forget that terms - such as liberal that we cast about flippantly today - carried a different meaning to those who used the words just a half century ago. I believe from all I have read, including Woodrow Wilson's The New Freedom [link to review], I would have enjoyed knowing this man. Peter E. Greulich Select the image or the link provided to read a review of "The Ordeal of Woodrow Wilson." Excerpt from Baruch's "The Public Years" about President Woodrow Wilson.“Freedom to Wilson was the supreme blessing of man. Democratic government was superior to all others because it gave to men the greatest measure of individual liberty. Individual liberty—the words are inseparable [emphasis added]. The individual, Wilson said, is the ‘first fact of liberty.’ There can be ‘no corporate liberty,’ he pointed out. ‘Liberty belongs to the individual or it does not exist.’ “This is a truth which we are in danger of forgetting in an age when, increasingly, we think and act in terms of blocs and groups. The pressure of these groups steadily erodes our individuality and independence. More and more we rely on government to solve our problems. But as much as Wilson extended the role of government, his purpose was to free the individual and never to shackle self-reliance and initiative. “These are the keys to human progress. Wilson knew that only individuals, not government, can provide the sense of moral responsibility which is the basis of a just and enduring society.” Bernard M. Baruch, The Public Years, 1960 Select the image or link provided below to read a review of "The Public Years" by Bernard Baruch. Woodrow Wilson's Last Words Dictated to His Wife from His Death Bed"The road that leads away from revolution is clearly marked, for it is defined by the nature of men and of organized society. … The nature of men and of organized society dictates … the highest and purest standards of justice … We should not entertain a narrow or technical conception of justice. "By justice, the lawyer generally means the prompt, fair, and open application of impartial rules; but we call ours a Christian civilization, and a Christian conception of justice must be much higher. It must include sympathy and helpfulness and a willingness to forgo self-interest in order to promote the welfare, happiness, and contentment of others and of the community as a whole. … The sum of the whole matter is this, that our civilization cannot survive materially unless it be redeemed spiritually. … " … Shall we not all earnestly cooperate to bring in the new day?" Woodrow Wilson, "The Road Away From Revolution" Shouldn't we cooperate to prevent conflict and revolution? The path of evolution, not revolution, is best served by a system of justice. Peter E. Greulich Select the image or the link to read the article written by Woodrow Wilson on his death bed. Thoughts on Burning Books or Taking Down Civil War Statues.When a few—in two different centuries—take it on themselves to destroy those things they don't want to see, read or listen to, are they the equivalent of each other? How far back do we go into history to uproot history and make it conform to our current beliefs of what is right? How far back can we go and see into the heart of a man or woman to judge their actions? Are we all now gifted clairvoyants? Were any of us there at an individual's last breath to know their regrets? Won't history a century from now look on today's actions with a different set of eyes and new judgments? Will it know our last breath's regrets?
Maybe, at times, the few do know better . . . maybe, at times, they don't . . . but is either following the enlightened path of democracy? Does either change the heart of the individual, which is mandatory for a true internal change of character that will be reflected in a democratic society's long-term culture? Don't we need a better way in a republic built on democratic principles? Isn't the answer to all these questions simple? An answer provided 2000 years ago: "Let him who is without sin cast the first stone . . . light the first fire . . . or swing the first axe." Peter E. Greulich, A List of Questions with One Answer
Penetrating a Perceived Leadership Trait with a Machiavellian Thought."This last quality, piety, is the most important for a leader to appear to possess, as men—in general—judge more from appearances than from reality. … All men have eyes but few have the gift of penetration. "Everyone sees your exterior, but few can discern what you have in your heart." Machiavelli, The Prince, Chapter XVIII From Ida M. Tarbell's "John D. Rockefeller Sr.: A Character Study," 1905 Scary, but unfortunately true. My best friends are those who use their eyes to truly see me and then share what they see. It isn't always easy to hear, but the "penetrating" perspective is always the most profitable when shared by one close to you with love, tenderness and care. True friends have eyes that "see you" with the "gift of penetration" and then share their thoughts "out of love." Peter E. Greulich, Putting a Machiavellian idea into positive practice
Bernard Baruch Quote on the Need for Outstanding Talent in an Organization."I have seen too many organizations fail, in business and in government, because more attention was given to tables of organization and operating handbooks than to finding the right men [and women] for the job. Outstanding talent can make any organization work." Bernard M. Baruch, The Public Years Select the image or the link below to read reviews of Bernard M. Baruch's, "The Public Years." Bernard Baruch Writes about How To Implement Change in an Organization."Human nature, of course, changes far more slowly than do our external surroundings. "When new situations arise some persons dig their heels dogmatically into the past and declare that we must hold rigidly to the old rules. Others treat each new situation as if it requires a de novo approach, relying on trial and error as if the past had no value. To govern ourselves effectively, both these extremes must be rejected. "The real problem is to know when to stand by the old truths and when to strike out in new, experimental ways. … harmonize a readiness to risk something new with precautions against repeating the errors of the past." Bernard M. Baruch, My Own Story, 1957 Select the image or link below to read a review of Bernard Baruch's "My Own Story." The American Industrialists' Business Definition of "Luck.""Luck occurs at the intersection of preparation and opportunity." American Business Philosophy
IBM Must Decentralize to Once Again Grow Revenue and Revenue Productivity"He [the chief executive officer] must have not only executive assistance, but discretionary assistance—that is, people who will take charge of their sections and conduct them as if they owned them. [Those] . . . who will not merely carry out orders, but who will initiate on their own account and then carry through." Harvey S. Firestone, "Making Men and Making an Organization," 1920 Select the image or the link below to read the full article. Andrew Carnegie Speaking on Diversity and Human Progress."Nothing should be done that would tend to reduce diversity of talents in our [human] race. Everything should be done to increase it if possible; for it is through "variation" the progress of the [human] race has been achieved, and progress is the chief end of existence. This is what we are here for, as is proven by the fact that progress from the lower to the higher has prevailed from the time this earth cooled and life began to appear. "This is our God-like mission: that every individual in his day and generation push this march upward, so that each succeeding generation may be better than the preceding [emphasis added]." Andrew Carnegie, "The Empire of Business," 1913 Select the image or link below to read more quotes of Andrew Carnegie. Christian Girl on the Requirement for Honesty on a Corporation's Board of Directors."Good morals in business will always begin with the man [or woman] who represents the business, no matter his [or her] capacity, and the corner stone is integrity. If his [her] business involves the practice of camouflage, she is not building a good business. "There are times when it may not be wise to tell all the truth, but only because the man [or woman] to whom you are talking is not able to stand all the truth and correctly interpret it. If, in the final analysis, you are ashamed to tell everything to an individual who can interpret it, you may be assured your business is not honest. . . . "That which any board of directors does—that the world could not be permitted to know—is not wise." Christian Girl, "Fighting from the Bottom to the Top," 1920
Edward A. Filene on the Good and Bad Aspects of Traditions."Eggshells are good, and every egg should have one. It keeps an egg in its proper place, up to the time when it ceases to be the proper place. "When that time comes, a conflict may develop between the egg and the shell--the shell doing its best to keep the egg inside, and the egg becoming more and more imbued with the necessity of getting out. If the egg is successful in this contest, a more abundant life is possible. If the shell is successful, there's a mess. "The eggshell in such a crisis, is a glorious tradition, and it can be proved conclusively that the egg could never have become a successful egg without it. Nevertheless, if the tradition isn't broken when it should be broken, the result is a total loss." Edward A. Filene, Successful Living in this Machine Age, 1931 Select the image or the link below to read a book review of Edward Filene's "Successful Living." Harvey S. Firestone Writing on Making a "Perfect" Organization with Men."A realization of personal imperfection may be the first thought to bear in mind in organization making, for it is not well to forget that the component parts of a human organization are human. They are not and never can be quite perfect. The unattainability of perfection does not at all mean it should not be eagerly pursued--that one should be easily satisfied. There should be no lack of striving toward perfection, but the humanness of human beings is not to be forgotten." Harvey S. Firestone, "Making Men and Making an Organization," 1920
An Evaluation of Arvind Krishna's First One Hundred Days as IBM's CEO.In a radio broadcast on July 24, 1933, President Franklin Delano Roosevelt (FDR), looking back on his activities after taking office, reviewed his initial one hundred days—a short period of time he devoted to “starting the machinery of the ‘New Deal.’ ” From this broadcast, the press coined the phrase “The First 100 Days.” Traditionally, this is a period of time for a chief executive to not only discover, understand and acknowledge the issues facing their country or corporation, but to start resolving them. During this time, FDR called the government and its businesses to action. His rallying cry told the citizens of his country that its government was on the job. Ever since then, the first one hundred days of any chief executive officer’s term has become a significant checkpoint on the performance of a new corner office. It is an early, traditional, and very relevant checkpoint of a chief executive’s performance. It is a time to ask, “Is the chief executive setting the proper tone and taking the appropriate actions to ensure their corporation’s future success? Has he or she told the citizens of their corporation through words and actions that their chief executive is on the job? Wednesday, July 15, 2020 marks the end of The First 100 Days for Arvind Krishna, IBM’s chief executive officer, and James M. Whitehurst, the corporation’s new president. What does this one-hundred-day checkpoint reveal? Is there an IBM “New Deal?” Or the same old stuff? Select the image of the link below to read an article evaluating Arvind Krishna's First 100 Days. Old Men Talking: Introducing a Friend to GodOld men find comfort and stability in traditions. Normally, whoever arrived first at Rudy’s would stake out that day’s meeting place in the restaurant by taking one of the metal chairs, folding it up and leaning it into one of the tables. This was their missing-man formation. Today, it started, not with a folded chair leaning in at the end of their table, but an empty chair in their midst—ready for the sitting. G., short for George, had just died. The formal memorial was yet to happen, but this was the gathering that meant the most to these old men – a time to remember an old friend. The chair represented the passage of time and the respect old men have for the breath of life which becomes more relevant and revered as each one of them comes closer to taking their last. These old men always remembered their own. They had lost several of late. G. died two days ago. At their ages, this was always anticipated but never easily accepted. They had developed a tradition to help themselves move on. This was their sixth such traditional gathering, which, by now, all of Rudys’ employees knew about. It was their practice to get together within 24 hours after the death of a friend. The old men had tried to gather yesterday, but no one, least of all Jim, was ready, and they needed Jim at his best during times like this. Select the image of the link below to read the full article. The Only Barrier High Enough for Our Southern BorderThe United States of America is in a soul-searching predicament. Our debate over building a physical barrier along our southern border is exposing a long-term, inward-looking, identity crisis. As a people, we must answer this question: What type of barrier along our southern border will symbolize our country? While a barrier against corruption, tyranny and evil is an absolute necessity, the type of barrier we construct will define us as a nation for generations to come. What do we want our grandchildren to see in their history books? A southern border of concrete and steel standing in the path of a persecuted humanity? Select the image or link below to read the full article. IBM 101: An IBM History of Crises, Recoveries, and Lessons Learned.Under Tom Watson Sr.’s leadership, IBM weathered ten major economic declines, three major wars, and four of the six largest declines in U.S. stock market history. An investment in 100 shares of IBM stock in 1914 when Tom Watson took charge would have cost approximately $2,750. In 1956, at the time of his death it would have become 5000 shares with a market value of $2.33 million (at $465 per share) and paid over $200,000 in dividends. This is a compound annual rate of return of 17.64 percent. And during all this economic, social, and political turmoil, IBM advanced through forty-two years of unprecedented technological change: it divested coffee grinders, candy scales, and cheese and meat slicers, and invested in time devices and tabulating machines; it followed the expansion of electricity around the world and transitioned its warehouse inventory from hand-cranked, spring-driven, standalone, time-recording devices to electrically-powered, dispersed and synchronized, time- and security-recording devices; and it shifted investment dollars from products that landed on the customer’s front counter to higher-value machines filling their corporate back offices. Even though it was slow to the market, IBM then strengthened its position in those back offices with the acquisition of electric typewriter technology. Tom Watsons’ learning process to achieve these results can be found in three major crises during his tenure as IBM’s traditional founder: The Crisis of 1914-15, The Crisis of 1920-21, and The Crisis of 1933-34 (the trough of the Great Depression). Select the image or link below to read about IBM's History of Crises, Recoveries and Lessons Learned. Old Men Talking: On a Father's LoveIt is hard to say when this group of old men first met. When one of Rudy’s employees asked, for a bemused moment they all strained to recall, but then they decided it wasn’t really that important. It was though; it was one of those nagging questions that if not answered supposed that they were too old to remember. So ever since, one of them would bring to the meeting a new remembrance—a selective remembrance, an imprecise remembrance, a remembrance tainted by time. They knew their memories were fallible; old men blur reality with wishful ruminations like the too-often-told, one-that-got-away fish story. With each new recollection, they positioned the memory as if it were a piece in a puzzle, using their communal timeline to see if the edges fit. They believed that their joint memories would eventually uncover that initial conversation that made Rudy’s 360 what it was today: a breakfast-home away from home and a reenactment of an old Texas settlers’ tradition, a gathering of old men discussing life with all its twists and turns. Sometimes these discussions could turn faster than a cuttin’ horse, and gore quicker and deeper than an ornery steer. Today was an example. Mike asked, “Jim, what do you think of all this hoopla over the definition of marriage?” Select the image or link below to read about old men in Texas gathering around the stove to talk crops, politics, life and survival. NCR 101: A History Lesson with John H. Patterson and "The Art of the Restart."Several of America’s greatest 20th Century industrialists mastered the art of the restart.
Select the image or link below to read a National Cash Register (NCR) history lesson. Two Back-to-Back IBM Resource Actions—Layoffs, and Their Effects.My family experienced two Resource Action Days in 2003, within a few months of each other. In January my new sales manager called me at my home office. “Pete, layoffs may be hitting the Sales and Distribution Division (S&D). You’ve been a wonderful employee, you’ve performed well, and I’m giving you as much time as I can, but you are on my list to be targeted for a layoff. If you haven’t found another job in the next thirty days, you will get the Letter.” “The Letter” rang in my ears. I had never seen the Letter; but at the time, it was the Mark of Cain—by next month you would be gone. My stomach tightened. I heard a question escape: “Why me?” Select the image or link below to read about the effects that resource actions—layoffs, have on employees. |
Peter E. GreulichPeter E. has been studying IBM and early American corporate history since his retirement in 2011. These are his thoughts and musings, and of those whose biographies and autobiographies he has read with links to articles and book reviews on this website. Contact the author directly.
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