Searching for a Corporate Savior by Rakesh Khurana
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Searching for a Corporate Savior
By Rakesh Khurana

Searching for a Corporate Savior

The Irrational Quest for Charismatic CEOs

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Format: Paperback

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Searching for a Corporate Savior by Rakesh Khurana

Book Description

Corporate CEOs are headline news. Stock prices rise and fall at word of their hiring and firing. Business media debate their merits and defects as if individual leaders determined the health of the economy. Yet we know surprisingly little about how CEOs are selected and dismissed or about their true power. This is the first book to take us into the often secretive world of the CEO selection process. Rakesh Khurana's findings are surprising and disturbing. In recent years, he shows, corporations have increasingly sought CEOs who are above all else charismatic, whose fame and force of personality impress analysts and the business media, but whose experience and abilities are not necessarily right for companies' specific needs. The labor market for CEOs, Khurana concludes, is far less rational than we might think. Khurana's findings are based on a study of the hiring and firing of CEOs at over 850 of America's largest companies and on extensive interviews with CEOs, corporate board members, and consultants at executive search firms. Written with exceptional clarity and verve, the book explains the basic mechanics of the selection process and how hiring priorities have changed with the rise of shareholder activism. Khurana argues that the market for CEOs, which we often assume runs on cool calculation and the impersonal forces of supply and demand, is culturally determined and too frequently inefficient. Its emphasis on charisma artificially limits the number of candidates considered, giving them extraordinary leverage to demand high salaries and power. It also raises expectations and increases the chance that a CEO will be fired for failing to meet shareholders' hopes. The result is corporate instability and too little attention to long-term strategy. The book is a major contribution to our understanding of corporate culture and the nature of markets and leadership in general.

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Book Details

ISBN: 9780691120393
ISBN-10: 0691120390
Format: Paperback
(229mm x 152mm x 20mm)
Pages: 336
Imprint: Princeton University Press
Publisher: Princeton University Press
Publish Date: 6-Jul-2004
Country of Publication: United States

Other Editions...

Books By Author Rakesh Khurana

Handbook for Teaching Leadership by Rakesh Khurana Handbook for Teaching Leadership, Hardback (November 2011)

Supports the growing demand for courses in leadership and ensures that such courses and instruction are developed with multiple considerations and best practices in mind.

From Higher Aims to Hired Hands by Rakesh Khurana From Higher Aims to Hired Hands, Paperback (March 2010)

Is management a profession? Should it be? Can it be? This title reveals how such questions have driven business education and shaped American management and society. It shows that university-based business schools were founded to train a professional class of managers in the mold of doctors and lawyers but have retreated from that goal.

» View all books by Rakesh Khurana


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Author Biography - Rakesh Khurana

Rakesh Khurana is Assistant Professor of Organizational Behavior at the Harvard Business School.

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