Read Memos from the Chairman by Alan C. Greenberg Free Online
Book Title: Memos from the Chairman|
The author of the book: Alan C. Greenberg
Edition: Workman Publishing Company
Date of issue: March 1st 1996
The size of the: 826 KB
City - Country: No data
Loaded: 1482 times
Reader ratings: 3.2
ISBN 13: 9780761103462
Format files: PDF
Read full description of the books:
This book is a collection of memos sent from Alan C. Greenberg while he was chairman of Bear Stearns. Communicating memos is a common practice throughout the business world but Greenberg set himself apart in the way he did it.
The following quote from a memo by Greenberg is one of the best examples of this.
“I was just shown the results for our first quarter. They were excellent. When mortals go through a prosperous period, it seems to be human nature for expenses to balloon. We are going to be the exception. I have just informed the purchasing department that they should no longer purchases paper clips. All of us receive documents every day with paper clips on them. If we save these paper clips, not only will we have enough for our own use, but we will also, in a short time, be awash in the little critters. Periodically, we will collect excess paper clips and sell them (since the cost to us is zero, the arbitrage Department tells me the return on capital will be above average). This action may seem a little petty, but anything we can do to make our people conscious of expenses is worthwhile.”
It is worthwhile noting that the values expressed in the book are far from generic among businesses. The memos are between 30-40 years old and many cannot be applied to the world we live in today. The key takeaways from this book are not the values expressed but rather how they are expressed by Greenberg.
The book is rather short and a fun read. It could be improved if more reflections of the memos were added.
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