The Power of Management Capital : Utilizing the New Drivers of Innovation, Profitability and Growth in a Demanding Global Economy

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9780070217331: The Power of Management Capital : Utilizing the New Drivers of Innovation, Profitability and Growth in a Demanding Global Economy

From the man whom BusinessWeek has called a "founding father" and the "hands-on implementer" of the Quality Movement comes a breakthrough approach to management and leadership

Just as Armand Feigenbaum's pioneering Total Quality Control changed the world's approach to quality and productivity, The Power of Management Capital will also transform the contemporary business landscape.

The Power of Management Capital explains the new business model of "management capital"--what it is and how the deployment of management assets sets pacesetter companies apart from the also-rans and business failures of the past decade.

Armand Feigenbaum and his brother Donald, an executive vice president at General Systems, Inc., provide a definition of the distinct components of management capital--it is the physical assets, the culture, the approach to innovation, the intellectual capital, the human resources, etc.--and then show how the deployment of each of these assets is key to successful growth and profitability.

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From the Back Cover:

"Val and Don Feigenbaum's no nonsense, engineering-based approach to quality has allowed us to make a threshold reduction in failure costs with resulting improvement in customer satisfaction and bottom-line results. I have no doubt that The Power of Management Capital will offer a similar road map to success for those who choose it."--Dick Davidson, Chairman, Union Pacific Corporation

"Val and Don Feigenbaum have spent a lifetime teaching us how to do things the right way and then pushing us to look for even more ways to improve upon success. This relentless quest for discipline and innovation is the subject of their latest effort, The Power of Management Capital. Feigenbaum introduces us to the management profiles and business practices that deliver results even though we operate in a global environment where the rules can change almost daily."--Tim Solso, Chairman and CEO, Cummins Inc.

"Facing the enormous challenge of rescuing Tenneco, we had no technology or product "silver bullets" available--we turned to the Feigenbaum's Cost of Quality approach. Three years later, we had created $2 billion of cost savings--real margins without sacrificing the core businesses of our valuable people. We called it 'soft restructuring,' but really it was our "silver bullet."--Dana G. Mead Chairman & CEO of Tenneco, Inc.

"Armand and Donald Feigenbaum have identified the challenges that managers will face in the 21st century. They propose the basic characteristics that successful companies will have. The book provides a crystal clear road map that will prove to be a fundamental tool for managers to be successful in this century."--Gabriel Bitran, MIT Sloan School of Management

"When management capital is properly understood, structured, led throughout a company, and relentlessly emphasized, it is the key to accelerating and sustaining profitable business results."--The Power of Management Capital

Lean production ... Total Quality Management ... Meritocracy ... These are just a few of the management concepts and innovations that, upon their adoption, became some of the basic drivers of productivity and profitability growth in today's marketplace.

The Power of Management Capital is about each of them; it is also about the management innovations that don't yet exist. Because more than just the innovations themselves, this groundbreaking book is about the systematic management and leadership models that "pacesetter" companies are using today to consistently breed such innovations. It is about the next great wave of corporate dominance--innovation in business management and leadership--and the difficulties that await competitors who refuse to abandon the "It worked yesterday" mentality.

Armand Feigenbaum--the hands-on visionary widely regarded as the founding father of the global quality imperative--teams with his brother and fellow business executive Donald Feigenbaum to outline a rulebook for management and leadership innovation in the 21st century. Follow their simple yet profound logic to discover:

  • Proven strategies for systematically--instead of intermittently--integrating management processes with information technologies
  • Examples of how Japan constructed a world-class economic powerhouse, and lessons to be learned from its "correction"
  • Ten worn-out management doctrines that are no longer helpful--and could prove harmful--in navigating today's economy

Rarely does one book have the intellect and authority to effectively change business and the way business is both approached and conducted. Over 50 years ago, one such book--Total Quality Control--gave its earliest readers an invaluable and stunningly prescient look at what businesses and their executives would need to succeed during the remainder of the 20th century. In The Power of Management Capital, that book's world-renowned author now trains his vision on management and leadership in the 21st century. The insights he provides, and the changes he recommends, should prove even more valuable to a new generation of business decision-makers.

About the Author:

Armand V. Feigenbaum, Ph.D., is the originator of Total Quality Control, which was conceived and completed while he was earning his doctoral degree from MIT, and is the recipient of numerous medals and honors from quality associations around the world. Dr. Feigenbaum is the president of the international engineering firm General Systems, Inc., which designs and installs proprietary operating management systems for manufacturing and service companies throughout North and South America, Europe, and Asia.

Donald Feigenbaum, Ph.D., is chief operating officer and executive vice president of General Systems, Inc. Dr. Feigenbaum is an acknowledged world leader in systems management and engineering and has published numerous influential works in the field of systems technology.

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