"To compensate a little for the treachery and weakness of my memory, so extreme that it has happened to me more than once to pick up again, as recent and unknown to me, books which I had read carefully a few years before . . . I have adopted the habit for some time now of adding at the end of each book . . . the time I finished reading it and the judgment I have derived of it as a whole, so that this may represent to me at least the sense and general idea I had conceived of the author in reading it." (Montaigne, Book II, Essay 10 (publ. 1580))

Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Monday, September 19, 2016

The Richest Man Who Ever Lived - The Life and Times of Jacob Fugger (Greg Steinmetz, 2015)

Generally interesting and worthwhile - but where was the editor?  Fugger lived an amazing life during amazing times - all this would have spoken for itself - but the author endlessly wrote in hyperbolic fashion (starting with the overwrought title).  (By comparison - this book discussing very much the same time period was enjoyable - and credible - in significant part because it was so matter-of-fact.  Let a good story tell itself!)

The author also occasionally descends into tropes-about-business - taking shots at "capitalism" here and there, when someone like Fugger generally was involved in pure-play "crony capitalism" - not at all the same thing.  Made most of his money by getting monopolies (often on metals) backed, of course, by state violence - this is not capitalism.  Sometimes he was involved in what I would consider capitalism (or what this author would refer to as "trade tested betterment,")

Great stories of Fugger's interactions or cause/effect relationships with all the big players in the last part of the 15th and first of 16th centuries - several Hapsburgs (his financing could swing Holy Roman Empire elections it seems); several popes; Francis I, Suleiman the Magnificent, Charles V.  Ferdinand and Isabella/Columbus; voyages of exploration; New World gold (and food); Henry VIII; Martin Luther (supposedly the aggressive ramping up of indulgence sales was prompted in significant part by the need to repay Fugger loans).  Finances spice trips with Portuguese (as discussed in this book); Venice still powerful but loss of overland spice trade monopoly was a factor in gradual loss of influence.  Hapsburgs rising from pretty much nothing, then in right place at right time (with right financier) via HRE elections, savvy marriages and New World discoveries.  Later in Fugger's life - peasant revolts in Germany; Luther becomes more conservative.

An early adopter of double-entry bookkeeping (learned from the Italians).

Author considers Fugger to have been a sincere practitioner of his religion notwithstanding tough business practices.  Puts up a housing complex for needy workers - ahead of his time here as well.

The years around 1500 were pretty amazing; endlessly interesting; this was a different perspective.

Thursday, August 30, 2012

The Art of the Sale - Learning from the Masters About the Business of Life (Philip Delves Broughton, 2012)

I have a pretty firm rule against reading business books.  I broke it for this book.  The rule is reinstated.

I don't know exactly why business books are so useless; I do think this author had some useful insights about  it.

I was willing to give this one a chance because it's about sales - crucial to everyone in business, not to mention life-in-general.  But the author just went around interviewing a variety of superstar salespersons.  That's not helpful.

There were some funny passages about Apple's approach - how they deliberately set out to make customers into evangelists.  And clearly they have figured out how to do this - lots of unpaid Apple promoters out there.  "Once part of Apple's tribe, devotees tend to exhibit the zeal of converts, displaying a sense of superiority and a willingness to sing Apple's praises to the heathen.  The tribe aren't just using a different smartphone or tablet, they are living a better life."  "Its selling methods successfully erode its customers' will to do the very thing that as a company it claims to do best:  think different."

Not recommended.

Sunday, January 17, 2010

The Management Myth - Why the Experts Keep Getting it Wrong (Matthew Stewart, 2009)

Very unusual subject matter for me, as I make a point of not reading business books.

I found it highly interesting and probably quite useful, though I don't really know enough about the subject to put the author's views in context.

He did think that studying philosophy and history is better preparation for business than going to business school - so I was instantly inclined to agree with whatever else he wrote.

The author intersperses anecdotes about his education and his forays into the business consulting world with observations about the history of business schools. Names I've heard but know nothing about - Frederick Taylor, Elton Mayo (and the famous Western Electric study) - basically pointing out how these folks sought to imbue business theory with a scientific precision, when actually doing nothing of the sort.

The business school elites were only too happy to play along - otherwise how to legitimize their very new (and unproven) schools being promoted at some of the most famous Eastern universities?

Stewart discusses why all this may be worse than just nonsense - folks like Taylor (he of the pig iron loading study) emphasized the separation of management from labor and the view of laborers as inputs, not to mention the faux science.

He has lots of fun skewering the recent pop psychology business writers - the Jim Peters types. They somehow pass off cliches and truisms as wisdom, and are paid handsomely for doing so.

Also highly entertaining: his descriptions of the management approach (and oddities) in his consulting firm. Plenty of that was reminiscent of the management issues in the professional service firms in which I've worked.

Very much worthwhile.