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The root of the matter

Is there a difference between a “stakeholding” corporation and one focussed on shareholder value? Yes: by treating customers and employees as ends, not means, companies do well by doing good.

Poor odds on the takeover lottery

Second hand firms have something important in common with second hand cars. This explains why takeovers have tended to disappoint.

A question of clarity and certainty

Try formalising a dress code and you will understand the importance of informal, cultural regulation.

Father Christmas does not exist?

Father Christmas does not exist? Tell that to investors who seem unable to ask how much value certain business really add

Threats to Bill Gates and the internet

Can Microsoft maintain its dominance of the world computer market? Is there a long term future for the Internet unless it falls into the hands of a small group of firms?

Learning to define the core business

Ted Levitt’s challenge to “define what business you are in” was based in a fundamental confusion between industries and markets.

Privatised utility

A modest proposal for the founding of the “customer corporation” in utility industries.

The Customer Corporation

The stakeholding view of the nature and purposes of corporations applies most forcefully to monopoly public utilities. This essay analyses some of the problems of utility regulation and proposes a stakeholding alternative.

In out of the cold

Economists have walked out into the cold as far as business strategy is concerned. Slowly, they are starting to return.

The Structure of Strategy (Business Strategy Review 1993)

"The Structure of Strategy" is a summary of parts of my book, "The Foundations of Corporate Success", and was reprinted in "The Business of Economics"

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