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The cover of Fixing the Game

Fixing the Game

Roger L. Martin

Why does shareholder value thinking keep producing crashes, and what rules would turn executives toward the customers they serve?

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At a glance

Author
Roger L. Martin

Why read it

  • You will weigh the author's claim that shareholder value theory has damaged the standing of capital markets and of capitalism itself
  • You will see why the author wants executives kept from betting on the game they run, as the NFL does with its players
  • You will learn to tell the real market of products and profits from the expectations market, and why executives belong in the first

Who it is for

  • A board director rethinking how executives are paid
  • A business student doubting shareholder value as a goal
  • A voter asking what regulation should follow the next crash

Contents

  1. ONE
  2. FIXING A BROKEN GAME
  3. ASKING THE RIGHT QUESTION
  4. THE ORIGINS OF OUR CURRENT THEORY
  5. A SMARTER GAME WITH A BETTER THEORY
  6. THE PROBLEM WITH EXPECTATIONS
  7. Microsoft Revenue 2000–2010
  8. Microsoft share price, 2000–2010
  9. EXECUTIVE BEHAVIOR
  10. SO WHAT?
  11. FIXING THE GAME: FIVE POSITIVE STEPS
  12. TWO
  13. MAXIMIZING CUSTOMER DELIGHT
  14. THE MAXIMIZATION CHALLENGE
  15. Clay object optimization
  16. THE PRIMARY OBJECTIVE OF BUSINESS
  17. THE CASE AGAINST SHAREHOLDER VALUE MAXIMIZATION
  18. THE POWERFUL OBJECTIVE
  19. Differing objectives
  20. THE NFL OUTPERFORMS AGAIN
  21. LESSONS FOR AMERICAN CAPITALISM
  22. THREE
  23. RESTORING EXECUTIVE AUTHENTICITY
  24. THE OPTIONS BACKDATING SAGA
  25. V-shaped patterns on a stock chart
  26. THE DAWN OF EARNINGS MANAGEMENT
  27. THE ROLE OF COMMUNITY
  28. The happiness equation
  29. AUTHENTICITY
  30. RESTORING HEALTH AND AUTHENTICITY
  31. USEFUL INCENTIVE COMPENSATION
  32. FOUR
  33. REPAIRING GOVERNANCE
  34. THE NATURE OF BOARDS
  35. THE PROBLEM WITH DIRECTORS
  36. MOTIVATIONS FOR JOINING A BOARD
  37. Personal or Company Favors
  38. Attractive Compensation
  39. Personal Prestige
  40. Social Enjoyment
  41. Personal Growth
  42. Public Service
  43. GOVERNANCE AND TRUST
  44. FIXING CORPORATE GOVERNANCE
  45. FIVE
  46. THE INSANITY OF 2&20
  47. TALENT GAINS THE UPPER HAND
  48. TALENT OVERTAKES CAPITAL AT THE BOX OFFICE
  49. TALENT OVER CAPITAL IN THE FINANCIAL MARKETS
  50. AN INNOCENT BEGINNING
  51. FEEDING THE PARASITE
  52. THE MANUFACTURING OF VOLATILITY
  53. REINING IN THE HEDGE FUNDS
  54. SAVING PENSION FUNDS FROM THEMSELVES
  55. PULLING BACK FROM THE BRINK
  56. SIX
  57. A BOLD VISION FOR COMPANIES AND EXECUTIVES
  58. THE CIVIL FOUNDATION
  59. The civil foundation
  60. THE EVOLUTION OF THE CIVIL FOUNDATION

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