Strong Managers, Strong Owners
Corporate Governance and Strategy

An invaluable resource for owners, board members, executives and advisors, showing how ownership and management interact to shape a firm's strategy.

Harry Korine (Author), Pierre-Yves Gomez (Author)

9781107044203, Cambridge University Press

Hardback, published 14 November 2013

228 pages, 5 b/w illus. 13 tables
23.5 x 15.6 x 1.8 cm, 0.46 kg

'A must-read for business leaders. This book tackles the challenge of managing the evolution of business and the inevitable tension between those who own the company and those who manage it. The inflexion point is the board. Accepting that change is a constant becomes a requirement to make strategic decisions.' Luis Novella, Chairman, Institute of Directors in France, and Managing Director, Invyctus Group

The family firm preparing generational change, the partnership that welcomes new partners, and the shareholders of a firm that chooses to go public are making decisions that will have an impact on strategy and management. Conversely, a change in strategy such as a move to diversify or a decision to take on more risk in a business can make the firm more attractive to some shareholders and less attractive to others and is therefore not ownership neutral. Opening the black box of agency theory, Korine and Gomez show how management and ownership interact to shape the strategy of the firm. In their view, the critical question to ask is not what is the best strategy, but rather, who is the strategy for? With numerous detailed examples, Strong Managers, Strong Owners is an invaluable resource for company owners, board members and executives, as well as their advisors in strategy and governance.

Foreword Hwee Hua Lim
Introduction
Part I. Changes in the Identity of Ownership and Management: 1. Change in ownership
2. Change in management
Concluding remarks
Part II. Changes in the Form of Ownership and Organization: 3. Change of legal structure
4. Change of organizational structure
Concluding remarks
Part III. Changes in Strategy: 5. Corporate and business strategies
6. Despite failure, NO change in ownership, management, or strategy
7. Because of success, reinforcement of ownership, management, and strategy
Concluding remarks
Part IV. Implications for Corporate Governance: 8. The board of directors
Conclusion – strategy for whom?
Index.

Subject Areas: Corporate governance [KJR], Business & management [KJ]