Performance Without Compromise

In today's volatile marketplace, it's rare for firms to last—much less consistently increase earnings—for more than four decades. That's what makes the story of 115-year-old global manufacturing and technology leader Emerson so remarkable, and so valuable, for today's managers. How does Emerson do it? And what can other companies learn from its success? Celebrated business leader Charles F. Knight—who was CEO of Emerson for 27 of its 43 consecutive years of increased profits—says the secret behind Emerson's long-term competitiveness is a dynamic management process carried out with unrelenting discipline. In Performance Without Compromise, Knight breaks down the key components of the Emerson management process in detail for the first time, and shows how this core process enables Emerson to address and overcome major challenges ranging from technological discontinuities to intense global competition. A remarkable success story, Performance Without Compromise is filled with insightful lessons about leadership, management, and competitiveness that can be applied in any company or industry.

Charles F. Knight is Chairman Emeritus of Emerson and serves on the boards of Anheuser-Busch Companies, IBM, and other major corporations. He was CEO of Emerson from 1973 to 2000. Davis Dyer is the author of Rising Tide: Lessons from 165 Years of Brand-Building at P&G (HBS Press, 2004).