Financial scandals aren't unknown in US business history, but today's growing problem of executive excesses and self serving behavior is unprecedented in both its persistence and pervasiveness. Executives continue to plunder their companies and rip off their stockholders. This book reveals the true breadth and depth of corporate corruption including flagrant new cases that haven't received the publicity they deserve.
Sayles is one the world's most honored management experts. As in-house corporate anthropologist at Arthur Andersen, Smith had a unique vantage point on the cultural changes that led to Andersen's collapse. Together, they identify powerful forces that cut across management, finance, the economy, politics, even psychology. Along the way, they identify rarely-discussed contributing factors such as the consulting boom, new technologies used by accounting and auditing professionals, the transformation of b-schools, journalism, and the media in general. This book addresses both criminal activity and the not-quite-illegal abuses that are now endemic in the executive suite, abuses that challenge the underpinnings of capitalism. Its deep insights will help both leaders and citizens understand exactly what's happened and what is needed to stem the tide of destructive behavior.