Economist Sir John Kay's latest work has been shortlisted for the Financial Times Schroder book of the year prize.
The traditional model of business has been turned upside down, according to the radial new book by Professor Sir John Kay, the distinguished economist and the first Dean of Saïd Business School, University of Oxford.
In The Corporation in the 21st century, Sir John maintains, a new concept of the company has replaced the 20th century Henry Ford-model of the ‘great’ business leader who commands the means of production, with workers employed as menial supplicants.
In the new era, Sir John explains, successful companies are ‘flatter’ in terms of structure, with staff being the means of production – not being subject to the whims of a ‘leader’. Successful companies, he says, are less about the all-powerful business leader, giving instructions, and more about high performing teams guiding strategy.