5 Posts found for Author: Richard Foster

What do self-respecting entrepreneurs do when subjected to new regulations? They learn the regulations backward and forward and then vow never to start another business that falls within the scope of those regulations. And so off the entrepreneur goes to find a new way.

The new entrepreneur often seeks ways to innovate outside the scope of the newly established regulations. In the beginning, all that … [ Read more ]

Content: Quotation | Author: Richard Foster | Source: McKinsey Quarterly | Subjects: Economics, Entrepreneurship, Government

The essence of capitalism is capitalizing—bringing forward the future value of cash to the present so that society can grow more quickly by taking risks. It goes back to the Dutchmen in the 16th century, sitting at their coffeehouses in Amsterdam and Leiden, loaning each other money for a guaranteed return. Someone said, “I’ll give you a little higher return if you give me a … [ Read more ]

Content: Quotation | Author: Richard Foster | Source: McKinsey Quarterly | Subjects: Capitalism, Economics

Across the Board interviews Richard Foster, co-author of the book, “Creative Destruction”, who offers up some interesting analysis and advice for companies to stay at the top of their game.

Content: Article | Authors: A.J. Vogl, Richard Foster | Source: Across the Board (ATB) | Subjects: Management, Strategy

“Corporations are built on the assumption of continuity; hence their focus is on operations. Capital markets are built on the assumption of discontinuity; their focus is on creation and destruction. This is the central contradiction of the life of a corporation: It cannot succeed without excellent operations, but it will fail if it focuses primarily on operations. Corporations are afflicted with the survivor’s curse: Most … [ Read more ]

Content: Article | Author: Richard Foster | Source: Wall Street Journal | Subjects: Management, People

Striving for excellence or building to last is one thing. Sustaining superior performance over the long haul is another matter entirely, as longtime McKinsey & Company executives Richard Foster and Sarah Kaplan persuasively point out in Creative Destruction. Based on a concept first advanced some 70 years ago by economist Joseph Alois Schumpeter, Foster and Kaplan propose that corporations can outperform capital markets and maintain … [ Read more ]

Content: Book | Authors: Richard Foster, Sarah Kaplan | Subjects: Management, Strategy