John Kay – författare

SHORTLISTED FOR THE FINANCIAL TIMES AND SCHRODERS BUSINESS BOOK OF THE YEAR 2024A NEW STATESMAN BOOK OF THE YEAR 2024 A FINANCIAL TIMES BEST BUSINESS BOOK OF THE YEAR 2024'Original and thought-provoking... A brilliantly erudite account of the major waves in the theory and practice of management' Financial Times'Instead of theory it has wisdom... an excellent book' New Statesman For generations, we have defined a corporation as a business that uses its accumulated wealth to own the means of production and exercise economic power.That is no longer the reality. Corporations no longer control their own industries, and our most desired goods and services aren't stacked in container ships: they appear on your screen, fit in your pocket or occupy your head.But even as we consume more than ever before, big business faces a crisis of legitimacy. The pharmaceutical industry creates life-saving vaccines but has lost the trust of the public. The widening pay gap between executives and employees is destabilising our societies. Facebook and Google have more customers than any companies in history but are widely reviled.In incisive, provocative prose, economist John Kay describes how the pursuit of shareholder value has destroyed mammoth companies, redefines successful commercial activity, and looks to the future of what the corporation might be.

If you want to go in one direction, the best route may involve going in another. This is the concept of 'obliquity': paradoxical as it sounds, many goals are more likely to be achieved when pursued indirectly. The richest men and women are not the most materialistic; the happiest people are not necessarily those who focus on happiness, and the most profitable companies are not always the most profit-oriented as the recent financial crisis showed us.Whether overcoming geographical obstacles, winning decisive battles or meeting sales targets, history shows that oblique approaches are the most successful, especially in difficult terrain. John Kay applies his provocative, universal theory to everything from international business to town planning and from football to managing forest fire.

Shortlisted for the Orwell Prize 2016We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector's activity: the vast majority of lending is within the finance sector. So what is it all for? What is the purpose of this activity? And why is it so profitable?John Kay, a distinguished economist with wide experience of the financial sector, argues that the industry's perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere - of other people's money. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement. We need finance, but today we have far too much of a good thing. In Other People's Money John Kay shows in his inimitable style what has gone wrong in the dark heart of finance.

Two of the UK's leading economists call for an end to extreme individualism as the engine of prosperity 'provocative but thought-provoking and nuanced' TelegraphThroughout history, successful societies have created institutions which channel both competition and co-operation to achieve complex goals of general benefit. These institutions make the difference between societies that thrive and those paralyzed by discord, the difference between prosperous and poor economies. Such societies are pluralist but their pluralism is disciplined.Successful societies are also rare and fragile. We could not have built modernity without the exceptional competitive and co-operative instincts of humans, but in recent decades the balance between these instincts has become dangerously skewed: mutuality has been undermined by an extreme individualism which has weakened co-operation and polarized our politics.Collier and Kay show how a reaffirmation of the values of mutuality could refresh and restore politics, business and the environments in which people live. Politics could reverse the moves to extremism and tribalism; businesses could replace the greed that has degraded corporate culture; the communities and decaying places that are home to many could overcome despondency and again be prosperous and purposeful. As the world emerges from an unprecedented crisis we have the chance to examine society afresh and build a politics beyond individualism.

'A brilliant new book' Daily Telegraph'Well written . . . and often entertaining'The Times'A sparkling analysis'ProspectWhen uncertainty is all around us, and the facts are not clear, how can we make good decisions?We do not know what the future will hold, particularly in the midst of a crisis, but we must make decisions anyway. We regularly crave certainties which cannot exist and invent knowledge we cannot have, forgetting that humans are successful because we have adapted to an environment that we understand only imperfectly. Throughout history we have developed a variety of ways of coping with the radical uncertainty that defines our lives.This incisive and eye-opening book draws on biography, history, mathematics, economics and philosophy to highlight the most successful - and most short-sighted - methods of dealing with an unknowable future. Ultimately, the authors argue, the prevalent method of our age falls short, giving us a false understanding of our power to make predictions, leading to many of the problems we experience today.Tightly argued, provocative and written with wit and flair, Radical Uncertainty is at once an exploration of the limits of numbers and a celebration of human instinct and wisdom.

'Persuasive, rigorous, creative and wise. Brilliant' TIM HARFORD'Kay is both a first-class economist and an excellent writer' FINANCIAL TIMESIt may feel paradoxical, but in business and in life, our goals are often best achieved when approaching them indirectly. In a traffic jam, the quickest route home might involve going the long way round. Those who deliberately seek love rarely find it and the endless pursuit of happiness often leads to misery. For a corporation, focus on cutting-edge engineering, new technology or a unique product is what generates profit; making profit the sole purpose of a business usually leads to its collapse.From the celebrated economist John Kay, Obliquity is a manifesto for aiming slightly off-target. In this provocative thesis, Kay deals with everything from football to forest fires to show how problems are best solved when thought of obliquely, and shows us how to achieve our objectives through a gradual process of risk-taking and discovery.

Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model – unfettered self-interest, privatization and low tax – faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism?Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why ‘one-size-fits-all’ globalization hurts developing countries and why markets can work – but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.

Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model – unfettered self-interest, privatization and low tax – faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism?Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why ‘one-size-fits-all’ globalization hurts developing countries and why markets can work – but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.

Two of the UK's leading economists call for an end to extreme individualism as the engine of prosperity 'provocative but thought-provoking and nuanced' TelegraphThroughout history, successful societies have created institutions which channel both competition and co-operation to achieve complex goals of general benefit. These institutions make the difference between societies that thrive and those paralyzed by discord, the difference between prosperous and poor economies. Such societies are pluralist but their pluralism is disciplined.Successful societies are also rare and fragile. We could not have built modernity without the exceptional competitive and co-operative instincts of humans, but in recent decades the balance between these instincts has become dangerously skewed: mutuality has been undermined by an extreme individualism which has weakened co-operation and polarized our politics.Collier and Kay show how a reaffirmation of the values of mutuality could refresh and restore politics, business and the environments in which people live. Politics could reverse the moves to extremism and tribalism; businesses could replace the greed that has degraded corporate culture; the communities and decaying places that are home to many could overcome despondency and again be prosperous and purposeful. As the world emerges from an unprecedented crisis we have the chance to examine society afresh and build a politics beyond individualism.

John Kay has been described as the `most important business analyst in Britain bar none'', and this book shows why.Here he combines common sense and rigorous economic thinking in a number of essays on business and economic issues—-the competitiveness of UK plc, the stakeholder economy, business strategy, and corporate personality.Kay is well known for his incisive and entertaining columns in the Financial Times (some of which are included here), his regular audio and TV broadcasts, and is much in demand as a speaker and consultant. In The Business of Economics he shares his analysis, thoughts and insights on a range of urgent and important issues facing the country and individual firms. His clear and direct writing style will inform, challenge, and entertain; his rigorous and clever analysis of thecorporate world will offer insights into the business problems and decisions faced by executives and managers every day.The book confirms the judgement of the Economist - `that John Kay is well on the way to turning himself into a European Michael Porter.''

How did BMW recover from the edge of bankruptcy to become on of Europe''s strongest companies? Why did Saatchi and Saatchi''s global strategy bring the company to its knees? Why has Philips''s outstanding record in innovation not been translated into success in the market? What can be learnt from the marriage contract about the conduct of commercial negotiations? These are some of the questions addressed as John Kay asks `What makes a business successful?''Drawing on his own business experience and on concepts in economics, legal theory, and sociology, the author presents a fresh approach to questions of business strategy. He rejects the military analogy which underpins much strategic thinking, in which success depends on size and share, on vision and leadership, on shifting patterns of mergers and alliances.John Kay argues that outstanding businesses derive their strength from a distinctive structure of relationships with employees, customers, and suppliers, and explains why continuity and stability in these relationships is essential for a flexible and co-operative response to change. By integrating organizational and financial perspectives on the performance of the firm, Kay not only gives insights into the creation of effective business strategies, but sheds light on the success - and failure- of national economies.As the single market develops, this book - full of insight and rigour, yet lively in style - is probably the most important European contribution to strategic thinking for many years. It will be vital reading for all who want to understand what distinguishes the successful company.

Applies modern economic theories to guide managers in creating successful corporate strategies.This is a book on corporate strategy that uses of the most modern theories in economics to show managers how to succeed in the markets in which they compete. The author takes the position that firms have unique strengths that they must understand and exploit. These strengths will be in four general areas: 1) Their reputation, 2) how well they create innovative new products or services, 3) what special strategic assets, or market position, they may have, and 4) how they are organized and how they operate, or what "architecture" they may have. The book has an international focus in that strategies are applied to firms doing business in different countries. The author's UK book,Foundations of Corporate Success was very successful, and this book is derived from it. For the U.S. edition the author has substituted many American examples, such as Disney, Caterpillar, Walmart, and the Boston Celtics.

When John Kay''s Foundations of Corporate Success first appeared in the U.K., it commanded the attention of the corporate world--and drew widespread praise. The Financial Times hailed it as "a powerfully argued book, which casts a fresh light on a range of practical business challenges." And Business Age wrote, "You must read John Kay''s new book Foundations of Corporate Success. Kay is currently the best management theorist in Britain, bar none.... He is a rare find."Now John Kay has produced an American edition of this landmark book. In this freshly revised volume, Kay applies his groundbreaking theories to the U.S. experience, illustrating them with examples of success and failure in the American market. For too long, he writes, managers have chased after the latest fad in business planning and strategy, beguiled by military analogies and the demand for overarching vision. Success, he believes, should not be measured by organizational size or market share, but by the added value--the amount that output exceeds the input of raw materials, payroll, and capital. Corporate strategy should be aimed at this basic goal, beginning with the question, "How can we be different?" Kay identifies four key ingredients: innovation, reputation (especially in the form of brands), strategic assets (government mandated monopolies or other measures which restrict market access by competitors), and architecture (the relationships between a company and its employees, suppliers, and customers). Success comes not when managers drive through a towering vision of the company''s destiny, but when they act on their organization''s specific capabilities and advantages--especially in the key area of architecture. Honda, he notes, captured a third of the American motorcycle market within five years. No vision was required for this success, he writes: Honda simply did what it did best (making a simple, inexpensive product), followed by careful attention to the architecture of its business ties to distributors, customers, etc. He ranges through industries from airlines to retail clothing, pointing out the reasons for successes and failures. Kay also draws on game theory to underscore the importance of stable, long-term relationships. Other writers have hit upon some of these points, the Financial Times noted: "But none has explored them as thoroughly as Kay, who succeeds in marrying an authoritative grasp of economic, legal, and sociological theory with an impressively detailed knowledge of contemporary business practice." This volume transforms Kay''s theoretical and practical knowledge into a powerful tool for today''s American business manager.

This is an up-to-date account of economic aspects of the energy markets, dealing with recent advances in the economics of energy and the implications for regulation, privatization, and international competition in each of the major markets - electricity, gas, coal, and oil.

How did BMW recover from the verge of bankruptcy to become one of Europe's strongest companies? Why did Saatchi and Saatchi's global strategy bring the company to its knees? Why has Philips' outstanding record in innovation not been translated into success in the market? What can be learned from the marriage contract about the conduct of commercial negotiations?Drawing on his own business experience and concepts in economics, legal theory, and sociology, John Kay presents a fresh approach to questions of business strategy. He rejects the military analogy that underpins much strategic thinking, in which success depends on size and share, on vision and leadership, on shifting patterns of mergers and alliances.Kay argues that outstanding businesses derive their strength from a distinctive structure of relationships with employees, customers, and suppliers, and explains why continuity and stability in these relationships is essential for a flexible and co-operative response to change. By integrating organizational and financial perspectives on the performance of the firm, the book not only offers insights into the creation of effective business strategies, but also sheds lights on the success, and failure of national economies. Now that the single market is upon us, this lively, perceptive book is probably the most important European contribution to strategic thinking for many years.

How did BMW recover from the edge of bankruptcy to become on of Europe's strongest companies? Why did Saatchi and Saatchi's global strategy bring the company to its knees? Why has Philips's outstanding record in innovation not been translated into success in the market? What can be learnt from the marriage contract about the conduct of commercial negotiations? These are some of the questions addressed as John Kay asks `What makes a business successful?'Drawing on his own business experience and on concepts in economics, legal theory, and sociology, the author presents a fresh approach to questions of business strategy. He rejects the military analogy which underpins much strategic thinking, in which success depends on size and share, on vision and leadership, on shifting patterns of mergers and alliances.John Kay argues that outstanding businesses derive their strength from a distinctive structure of relationships with employees, customers, and suppliers, and explains why continuity and stability in these relationships is essential for a flexible and co-operative response to change. By integrating organizational and financial perspectives on the performance of the firm, Kay not only gives insights into the creation of effective business strategies, but sheds light on the success - and failure - of national economies.As the single market develops, this book - full of insight and rigour, yet lively in style - is probably the most important European contribution to strategic thinking for many years. It will be vital reading for all who want to understand what distinguishes the successful company.

John Kay has been described as the `most important business analyst in Britain bar none', and this book shows why. Here he combines common sense and rigorous economic thinking in a number of essays on business and economic issues---the competitiveness of UK plc, the stakeholder economy, business strategy, and corporate personality.Kay is well known for his incisive and entertaining columns in the Financial Times (some of which are included here), his regular audio and TV broadcasts, and is much in demand as a speaker and consultant. In The Business of Economics he shares his analysis, thoughts and insights on a range of urgent and important issues facing the country and individual firms. His clear and direct writing style will inform, challenge, and entertain; his rigorous and clever analysis of the corporate world will offer insights into the business problems and decisions faced by executives and managers every day. The book confirms the judgement of the Economist - `that John Kay is well on the way to turning himself into a European Michael Porter.'

One of the most enduring legacies of the 1980s has been the programme of privatizations that the Thatcher government set in train in the first half of the decade. Whole sectors of the UK economy which were formerly part of the public sector were sold off to the private sector. Some were bought out by their employees; others were bought by the public at large. Some public services were contracted out to the private sector; others were placed on a more commercial footing.The UK privatization programme had an influence on economic policy throughout the world. Privatization programmes were initiated in Asia, South America, and Africa, as well as Europe and North America. The most recent to experiment with privatizations have been the East European countries which have seen privatization as the fastest route to move from socialism to capitalism.The purpose of this book is to stand back and examine what has been learnt from the extensive programme of privatization that the UK government has completed, and to consider what aspects of privatization remain to be done. This book attempts to evaluate different sectors of the UK economy over the past 10 years. It examines what has happened and why, where have been the successes and failures, what lessons can be learnt for the design of privatization programmes elsewhere and what can the UK government still can do usefully in this area.

One of the most enduring legacies of the 1980s has been the programme of privatizations that the Thatcher government set in train in the first half of the decade. Whole sectors of the UK economy which were formerly part of the public sector were sold off to the private sector. Some were bought out by their employees; others were bought by the public at large. Some public services were contracted out to the private sector; others were placed on a more commercial footing. The UK privatization programme had an influence on economic policy throughout the world. Privatization programmes were initiated in Asia, South America, and Africa, as well as Europe and North America. The most recent to experiment with privatizations have been the East European countries which have seen privatization as the fastest route to move from socialism to capitalism. The purpose of this book is to stand back and examine what has been learnt from the extensive programme of privatization that the UK government has completed, and to consider what aspects of privatization remain to be done. This book attempts to evaluate different sectors of the UK economy over the past 10 years. It examines what has happened and why, where have been the successes and failures, what lessons can be learnt for the design of privatization programmes elsewhere and what can the UK government still can do usefully in this area.