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by Scott Davis (Author), Carter Copeland (Author), Rob Wertheimer (Author)
Three top Wall Street analysts reveal enduring lessons in sustainable success from the great industrial titans--the high-tech companies of their day--to the disruptors that now dominate the economy.
Before Silicon Valley disrupted the world with new technologies and business models, America's industrial giants paved the way. Companies like General Electric, United Technologies, and Caterpillar were the Google and Amazon of their day, setting gold standards in innovation, growth, and profitability. Today's leaders can learn a great deal from their successes, as well as their missteps. In this essential guide, three veteran Wall Street analysts reveal timeless lessons from the titans of industry--and offer battle-tested survival tactics for an ever-changing world. You'll learn:
- how GE became the largest company on earth--only for a culture of arrogance to set in motion the largest collapse in history
- how Boeing reassessed risks, raised profits--and tragically lost its balance
- how Danaher avoided the pitfalls of tremendous success--by continually reinventing itself
- how Honeywell experienced a near-fatal cultural breakdown--and executed a flawless turnaround
- how Caterpillar relied too much on forecasting, lost billions--and rallied by recommitting to the basics
Filled with illuminating case studies and brilliant in-depth analysis, this invaluable book provides a multitude of insights that will help you weather market upheavals, adapt to disruptions, and optimize your resources to your best advantage. You'll learn hard-won lessons in innovation, growth, resilience, and operational excellence, as well as the time-proven fundamentals of continuous improvement for lasting success. In the end, you'll have your own personal toolbox of useful takeaways from more than a century's worth of data, experience, wisdom, and can-do spirit, courtesy of some of the greatest business enterprises of all time. This is how manufacturers survived the first disruptors of technology--and how today's giants can survive and thrive during continuous cycles of disruption.
Back Jacket
"In every era, it is always tempting to believe that the fundamentals have somehow changed. This book provides perceptive analyses of the enduring lessons from some of the most important companies in our nation's history. Leaders of today and tomorrow, across all industries, will do well to learn how to apply these fundamentals to their own time."
--Wes Bush, former Chairman and CEO of Northrop Grumman and Director of General Motors and Cisco
"Highly instructive. Every business executive, investor, and student of leadership should read this book. Lessons from the Titans shows us that excellent CEOs lead organizations that win and thrive because they implement great processes around operational excellence."
--Inge Thulin, former Chairman and CEO of 3M and Director of Merck
"An engrossing read with many lessons to mull over for senior executives and emerging managers alike. This book reminds us that sustainable success depends on operational and financial discipline."
--Nick Santhanam, Senior Partner and Head of the Advanced Electronics and Industrials Practice at McKinsey & Company
"Few have the years of experience and insight into industrials that Scott, Carter, and Rob do. They've written the book on building great operating systems, disciplined capital deployment, and process capability to sustain long-term, consistent, top-quartile performance."
--Kirk Hachigian, former Chairman and CEO of Cooper Industries and Director of NEE, PACCAR, and Allegion
"With credibility built over 60 years of collective industry experience, the authors bring a unique inside view of what it takes to succeed in business. Lessons from the Titans is a must-read about the importance of innovation, competitive edge, disciplined investment, and leadership."
--Stephanie Link, Global Research Director and Portfolio Manager at Nuveen and CNBC contributor
"Business success still depends on keeping the organization focused on profitable growth through continuous operational improvement. Lessons from the Titans doesn't just explain how; it shows you these principles in action."
--Ed Breen, Executive Chairman and CEO of DuPont and Director of Comcast
Author Biography
Scott Davis serves as Chairman and CEO of Melius Research, where he is also the lead research analyst covering the multi-industry sector. With 25 years of experience in industrials equity research, he has ranked in the top decile of Wall Street analysts, including being recognized as the number one multi-industry analyst by Institutional Investor six times. Davis also led elite research teams for more than two decades as Head of Global Industrials Research at both Morgan Stanley and Barclays.
Carter Copeland is the President of Melius Research, where he is also the lead research analyst covering the global aerospace and defense sector. He has 15 years of experience on Wall Street, is consistently ranked in Institutional Investor's annual survey of top analysts, and was named the number one aerospace and defense analyst by Institutional Investor's Alpha magazine. He previously served as Managing Director and senior analyst at Barclays and Lehman Brothers.
Rob Wertheimer is a founding partner of Melius Research, where he serves as the Director of Research and lead research analyst for the global machinery sector. He has two decades of equity research experience, and has been recognized as a top-three analyst by Institutional Investor. Prior to Melius, he led machinery coverage at Barclays, Vertical Research, and Morgan Stanley.
