Thursday, March 01, 2012

How The C-Suite Hurts America

Steve Denning, one of the smartest guys today thinking about management and how companies are run, just pointed out a new Harvard Business Review article which should be required reading:
If some progressive journal were to write about overpaid CEOs, it wouldn’t be news. It would be just another “dog bites man” story.
But when Harvard Business Review, the pillar of the business establishment, writes that the C-Suite is so grossly overcompensated that US competitiveness is being systematically undermined, it’s big news. It’s a “man bites a pack of dogs” story.
Throughout HBR’s 90 year history, it has been a cheerleader for the C-Suite. Issue after issue, year after year, HBR has tirelessly nurtured the C-suite, tended it, encouraged it, cared for it, defended it, and celebrated it, as well as providing guidance for those aspirants who would like to gain access to the hallowed citadel.
So HBR can hardly be accused of any anti-business bias when it publishes an incisive article detailing how and why the C-Suite of US business is so grossly overcompensated that the practices are inexorably pushing the US economy into decline. In effect, the article describes in detail what the various Occupy movements have long suspected but never knew how the rip-off was executed.
You can read more on Denning's blog here, where he does wonder why the thing was published on page 124, and has a few other issues with HBR's thinking. Steve is the author of Radical Management, and is teaching a course on the thought and practice of it in D.C. on March 19-20.

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