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A Joseph Henry Press book - The Power of Boldness: Ten Master Builders of American Industry Tell Their Success Stories

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Whatever you dream, begin it, for boldness has genius, power and magic in it. - Goethe. What qualities brought America to its dominance of world industry? How will American technology fare in the new global marketplace? What upbringing, education, and personal traits are required to produce leaders who can succeed in this new world? Scan the bookstore shelves and youll see dozens of attempts by authors to capture the essence of leadership and entrepreneurial success. In The Power of Boldness, the answers come from original sources: ten of the countrys most successful business leaders, who share their experiences and insights in individual essays that are remarkable for their directness and personal detail. Six of the writers are inventors who created the enterprises to commercialize their ideas - four assumed management of their fathers companies and moved into new industrial and geographic markets.Born between 1897 and 1962, these outstanding figures collectively chronicle Americas industrial rise since World War II - and share their perspectives on what lies ahead in the age of technology. In engaging and often humorous terms, these men describe how they managed to make the most of the economic and social ups and downs of the past decades - how boldness, clear thinking, and a willingness to learn saw them through the bad times and paved the way to their success.No other book gathers so distinguished a group of business figures - Stephen D. Bechtel, Jr., of Bechtel Group describes the rise, decline, and rise again of the worlds largest heavy construction company. William M. Haney, III, of Molten Metal Technology - a strong believer in Goethes maxim - overviews the opportunities in ecotechnology. Edward C. Johnson 3d, of Fidelity writes on the adventures of a contrarian in the financial arena. Gordon E. Moore of Intel explains how his firm became one of the worlds largest producers of microprocessor chips and forecasts the future of the electronics industry.John F. Taplin, master inventor and founder of a number of companies, writes on the education of an inventor/entrepreneur. Thomas D. Cabot of Cabot Corporation, Robert Galvin of Motorola, George N.Hatsopoulos of Thermo Electron Corporation, and Ralph Landau of Halcon International, round out this group of master builders of Americas industrial power. In an introduction and summing-up, Alfred Chandler, Jr., Pulitzer Prize-winning business historian, explores some of the themes that emerge from the personal essays. Capturing the spirit of innovation as well as the practicalities of business decision making, The Power of Boldness will be required reading for business executives, students of business, and anyone interested in the individual success stories behind Americas technological leadership.

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The Power of Boldness Ten Master Builders of American Industry Tell Their - photo 1
The Power of Boldness
Ten Master Builders of American Industry
Tell Their Success Stories
Edited by Elkan Blout
JOSEPH HENRY PRESS
Washington, D.C. 1996

title:The Power of Boldness : Ten Master Builders of American Industry Tell Their Success Stories
author:Blout, Elkan.
publisher:National Academies Press
isbn10 | asin:0309054451
print isbn13:9780309054454
ebook isbn13:9780585021010
language:English
subjectBusinesspeople--United States--Biography, Industrialists--United States--Biography, Inventors--United States--Biography, Entrepreneurship--United states--Case studies, Family-owned business enterprises--United States--Case studies, Industries--United Stat
publication date:1996
lcc:HC102.5.A2P69 1996eb
ddc:338.092/273
subject:Businesspeople--United States--Biography, Industrialists--United States--Biography, Inventors--United States--Biography, Entrepreneurship--United states--Case studies, Family-owned business enterprises--United States--Case studies, Industries--United Stat
JOSEPH HENRY PRESS 2101 Constitution Ave., N.W. Washington, DC 20418
The Joseph Henry Press, an imprint of the National Academy Press, was created with the goal of making books on science, technology, and health more widely available to professionals and the public. Joseph Henry was one of the founders of the National Academy of Sciences and a leader of early American science.
Library of Congress Cataloging-in-Publication Data
The power of boldness: ten master builders of American industry tell
their success stories / edited by Elkan Blout.
p. cm.
Includes index.
ISBN 0-309-05446-X (hardcover : alk. paper).ISBN 0-309-05445-1 (paperback : alk. paper)
1. BusinessmenUnited StatesBiography. 2. Industrialists
United StatesBiography. 3. InventorsUnited StatesBiography.
4. EntrepreneurshipUnited StatesCase studies. 5. Family-owned
business enterprisesUnited StatesCase studies. 6. Industries
United StatesHistory. I. Blout, Elkan.
HC102.5.A2P69 1996
338.092'273dc20
[B]
96-31131
CIP

The Power of Boldness first appeared in the Spring 1996 issue of Daedalus, the journal of the American Academy of Arts and Sciences.
Copyright 1996 by the American Academy of Arts and Sciences. All rights reserved.
Printed in the United States of America
Page iii
Preface
ONE COLD WINTER MORNING four years ago when I was talking to myself, the idea for this book was born. The genesis was really my personal ruminations about the state of American societyboth positive and negative. I felt that one of the main contributions our society had made to the world of the twentieth century was its emphasis on and rewards for initiatives and inventions. I believed that this subject was not fully understood and appreciated by many elements of our society. In addition, in 1992 it was not clear that American industry would be able to resume its leadership in a very competitive world economy.
Out of these thoughts arose the idea of a book written by those people in American industry who had made major contributions to the shaping of the industry during the last several decades. At this point I thought about the American Academy of Arts and Sciences and its distinguished and diverse membership, in both the academic and industrial worlds, and wondered whether the Academy might be an appropriate venue and sponsor for such an activity. I brought the embryonic suggestion of this book, which I called at that time American Industry at the Crossroads, to the attention of the Council at its next meeting. The Academy's Council gave me its enthusiastic support for pursuing the idea, and then I seriously began to work on it.
My background was in industry, in academic science at Harvard University, and for the last twenty years as an officer and council member of the National Academy of Sciences and the Ameri-
Page iv
can Academy of Arts and Sciences. With this background I had a fairly large acquaintance with the scientific, technological, and industrial leaders in the United States. I was heartened to proceed when I broached the idea to a couple of them and received enthusiastic and positive responses.
The next step was to approach a sponsor for the financial support of the book. An application to the Alfred P. Sloan Foundation resulted in an important, initial grant in May 1993, and this was soon followed by grants from two other private foundations (the Cabot Family Charitable Trust and a source that wishes to remain anonymous). This support, for which I am grateful, allowed me to firm up my ideas, to recruit authors and, most importantly, an editor.
I am very pleased that almost all the people I asked to write essays responded affirmatively and often enthusiastically. In my discussions with potential authors I emphasized that we were not looking for theories from scholars and economists, but rather we wished to emphasize stories from people who built America into what it is today. I also emphasized that any essay should be a personal account and, I hoped, would indicate the author's opinion about influential people in his career and other circumstances that molded him into the leadership position he held in the technological industrythe backbone of America's social and economic position in the world.
As you read the essays in this volume you will note that the authors have, indeed, heeded my suggestions. They are all very different and, for the most part, very personal. Not all the people who agreed to contribute to this volume did eventually write an essay. I learned that there are many reasons for people not to follow through after initially agreeing to participate in such an endeavor. I hope the appearance of this volume may stimulate a few of our potential "laggard" authors so that we may have the benefit of their insights in the future.
Finally, I would like to express my gratitude to my tireless and thoughtful editor, Upton Brady. Upton Brady was formerly the Director of the Atlantic Monthly Press and brought to his position in this endeavor a wealth of knowledge about writing, about authors, and about publishing. All this knowledge proved
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