Book Reviews

benefit from its use, and the assumptions and limitations of the programme. Useful, if you work in that area; annual updates are likely to be necessary for many years to come. and Organization Sweden. at the Institute for Economics,

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Uppsala,

Valuation: Measuring and Managing the Value of Companies, TOM COPELAND, TIM KOLLER andJAcK MURRIN, McKinsey & Company (1990), 428 pp., A47.50. Managers at both the business-unit and corporate levels need to broaden their conceptions of strategy; they need to manage value. Too true; but how often is it effectively done in practice. If it is not done by the existing management they will become vulnerable to being taken over by others who will attempt it. This book provides a U.S. based step by step guide for those wishing to conduct valuation analyses and use them in assessing corporate performance. Essential reading for all actively involved in the mergers and acquisition business, either as preditator or victim, but especially the latter.

The Global Challenge of Innovation, BASIL BLACKWELL and SAMUEL EILON, Butterworth Heinemann (1991), 220 pp., ~30.00. In this book the experience of a corporate leader (ex Chairman of the Westland Group) is combined with a leading U.K. management academic to discuss the role of government in pursuing major industrial innovations. A well presented case for some appropriate government support in this area. But the chapters on The pursuit of critical mass and Big is necessary understate the critical issues of managing change and it is a pity the ideas of Nystrom were not discussed.

Management: Theory and Practice, G. A. COLE, DP publications (1990), 3rd Edition, 588 pp., L9.95. Prisoners of Leadership, MANFRED F. R. KETS DE VARIES, John Wiley (1989), 246 pp., Ll6.80. Probes the inner theater that causes a leader to choose a certain courses of action. Evaluates: The ways in which leaders become prisoners of their internal psychic theatres; The complex psychological forces in play between leaders and their followers; Why leaders often self-destruct in unfamiliar situations. The author strongly argues Leaders who dont first master themselves will never master their organizations effectively or humanely. In other words they will be a menace to both themselves and others. Overall a much greater sense of reality than most books on leadership. A more traditional approach is taken in Leadership Skills: Standout Performance for Human Resources Managers, WILLIAM R. TRACEY, AMACOM/Kogan Page (1990), 401 pp., A45.00, which identifies 15 crucial skills from Forecasting: Prelude to Planning (Chapter 1) to Leading: Practicing the Ultimate Skill (Chapter 15). Useful basic text for students on a wide range of (U.K. based) courses that require an introduction to the principal ideas and developments in the theory and practice of management. But no mention of Porter, or In Search of Excellence.

Cross-Cultural Management Communication, John Wiley (1990), 273 pp., A24.95.

RICHARD MEAD,

Trend Tracking: The System to Projit from Todays GERALD CELENTE with TOM MILTON, John Wiley 303 pp., ,El8.95.

Trends, (1990),

A superficial look at what is going on in the world. Sensible advice, but few investment decisions could be based on such limited information.

Technological and Market Innovation: Strategies for Product and Company Development, HARRY NYSTROM, John Wiley (1990), 307 pp., L35.00. Rightly argues that current management books and courses rarely bring together the theories (and practice) related to the need to manage change and innovate with the need for more effective new product development. Here the author emphasizes the strategic interplay between technological change and the marketing of new products and the interaction between product and company image, as well as showing that innovation is far more than an operational problem. A very practical (and readable) approach to a subject that is at the core of strategic planning. The author is Professor of Marketing

Shows how the skills necessary for improving cross-cultural management can be recognized and developed. A subject that rarely gets the attention it deserves, and this is an excellent guide. Another valuable analysis, Cultures and Organizations: Sojtware of the Mind, GEERT HOFSTEDE, McGraw-Hill (1991), 279 pp., A22.99, shows how matched samples of people from more than 50 countries can be positioned according to five dimensions: The degree of intergration of individuals within groups; Differences in the social roles of women and men; Ways of dealing with inequality; The degree of tolerence for the unknown; The trade-off between long-term and shortterm gratification of needs. Complementing these approachs is a facinating study. The Secret of the Miracle Economy: Di$erent National Attitudes to Competitiveness and Money, RICHARD LYNN, The Social Affairs Unit (1991), 110 pp., 48.95 which attempts to identify variations in work attitudes between university students in 43 countries. Much space is devoted to establishing that there are differences, but relatively little to why-and what can/should be done about it. One interpersonal and cross-cultural skill required by managers is how to handle power and conflict, particularly within small group negotiation. Playing simulation games can be a useful teaching aid and the methodology is outlined in Negotiation Training through Gaming: Strategies, Tactics G Manoeuvres, ELIZABETH M. CHRISTOPHER and LARRY E. SMITH, Kogan Page (1991), 189 pp., L25.00.

Joining the Inner Circle: H ow to make it as a Senior Executive, ERNEST AUERBACH, John Wiley (1991), 217 pp., Ll9.95. A U.S. based survival kit for middle management executives aspiring to reach the top of their corporations. An attempt to provide instant MBA programme. The index does not mention Responsibility, Power or Redundancy. Better than