Throughout his career, George Russell-a pioneer in the pension fund consulting business and driving force behind Frank Russell Company-has gone about doing things his own way. Avoiding textbook approaches, Russell has innovated best practices for managing money, and for building a long-lasting business. Under his leadership, the company, today known as Russell Investments, has grown into one of the world's leading investment advisory firms. Now, in Success by Ten, Russell shares his experiences in building a better business with you, and shows how the right corporate culture and the proper…mehr
Throughout his career, George Russell-a pioneer in the pension fund consulting business and driving force behind Frank Russell Company-has gone about doing things his own way. Avoiding textbook approaches, Russell has innovated best practices for managing money, and for building a long-lasting business. Under his leadership, the company, today known as Russell Investments, has grown into one of the world's leading investment advisory firms. Now, in Success by Ten, Russell shares his experiences in building a better business with you, and shows how the right corporate culture and the proper people can play an important role in this process. Broken down into ten engaging chapters, each of which represents a business lesson that has helped Russell excel over the years, this reliable guide weaves Russell's own story with the insights of colleagues he has learned from along the way. And while the information and innovations outlined throughout these pages spurred the professionalization of pension fund management- with the potential benefit of improving financial security for investors-they are broadly accessible and can be applied to organizations of any type or size. Success by Ten puts the essential elements of building a profitable business in perspective. The practical advice you'll find here includes: * Integrity must be non-negotiable, because one slip can ruin the entire enterprise * Bringing people together and sharing credit with them will result in dramatic improvements in productivity * Creative ideas may be ahead of the market; they require patience and a willingness to ignore the bottom line while you wait for the market to catch up * Continuing to take risks is essential, because your competitors will be doing their best to make you obsolete, irrelevant, and unprofitable * Occasional breaks, like the Russell sabbatical program--for every ten years of service, you earn a two-month sabbatical--are great investments; they enhance productivity and seed innovation It takes more than just spreadsheets and statistics to create and grow a business in today's competitive market environment. With Success by Ten as your guide, you'll quickly discover how the principles that have served George Russell so effectively can also benefit your company, your customers, and your employees.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
GEORGE F. RUSSELL JR. pioneered the business of pension fund consulting in the late 1960s and was named in 1993 as one of the four most influential people in the world of institutional investing. He is the creator of the Russell 2000 Index and the visionary behind Frank Russell Company, one of the world's leading investment management and advisory firms, with offices in financial centers worldwide. George Russell received the Lillywhite Award from the Employee Benefits Research Council for outstanding lifetime contributions to enhancing Americans' economic security in 1998, the CFA Institute's Thomas L. Hansberger Leadership in Global Investing Award in 2008, and the Woodrow Wilson Award for Public Service in 2009. MICHAEL SHELDON worked at Frank Russell Company from 1993 to 1999, writing marketing materials and helping George Russell draft articles and client communications. He cofounded XMedia Communications in 1999 to provide marketing, copywriting, creative content, and strategy to a diverse clientele.
Inhaltsangabe
Acknowledgment xi Introduction xiii Chapter 1 Non-Negotiable Integrity 1 Building Character 2 Reach for the Summit 4 Our Business is Based on Trust 6 Integrity is More Important than the Bottom Line 9 Do the Right Thing 9 Integrity Cannot Be Negotiable 11 Chapter 2 Persistence, Patience, and Cold Calls 13 Early Days at Frank Russell Company 14 Building a Retail Sales Operation 15 Harvard to the Rescue 17 The Cold Call 20 Paul Kaltinick's Perspective 22 A Unique Selling Proposition 23 Evolving the Business Model 24 Compensation 25 Top 40 Hits: 1970-1974 27 Minimal Debt; Reinvest 28 Notes 29 Chapter 3 Hire People Smarter Than You Are 31 The Need for Innovation in Pension Fund Management 32 Peter Dietz and His Method of Performance Measurement 33 Helane Grill, Madelyn Smith, and Joan Sobba-The Three Musketeers of Manager Research 36 Creating a Universe 39 A New Process for a New Industry 40 Madelyn Smith Shows Her Style 42 Russ Fogler-Pioneer of Asset Allocation 43 Duncan Smith Asks the Tough Questions-and Answers Them 46 Don Ezra Defines the Right Way to Be a Fiduciary 49 The Best Investment I Ever Made 52 Notes 53 Chapter 4 Be Creative 55 The Treasurer's Club: They're Not Laughing Anymore 55 Blake Eagle Puts Real Estate on the Map 57 London Calling 60 Our Battle to Exceed Client Expectations 62 A Funny Thing Happened on May 1, 1980 63 The Only Difference is the Zeros 64 Making It Fly 65 FRTC's All-Stars 67 From Wall Street to Main Street 70 Concentric Circles 73 Chapter 5 Work Hard 77 Setting the Tone 78 The 120 Percent People 81 Work is Only a Means to an End 83 Incentives that Worked 85 Growth and Change 88 Chapter 6 Share Credit 93 Getting Rid of Titles 93 Stars of the Investment Industry 94 The A Team 95 Our Biggest Mistake 98 Plenty to Celebrate 100 Sharing Credit-Globally 104 Sharing Ownership 105 Chapter 7 Recognize Luck 109 Are You a Decision Maker? 111 The Decision Factory 112 Decision Triggers 114 Kelly Haughton Builds a Better Benchmark 116 GM Starts with a Clean Slate 118 Crossing the Threshold 118 Testing the Concept 120 How Much is Luck and How Much is Skill? 122 A Grammatical Postscript 124 Note 125 Chapter 8 Plan Transitions 127 Hire and Train Your Replacement 128 The Apprenticeship of Michael Phillips 131 Mike Takes the Helm 133 Continuity of Culture 135 Selling the Company 137 Closing the Deal-Complementary Skills 139 Moving Forward 140 Chapter 9 Take Risks 143 New Opportunities 143 The Inspiration of John Mroz 145 The Opportunity of a Lifetime 146 Access Matters 148 Russell's Venture in Alternative Investing 150 Asset Allocation is Rocket Science 152 The Final Frontier? 154 Chapter 10 Have Fun 159 Fun in the Himalayas 160 The Russell Sabbatical Program 161 Fun at Work 163 Transition to Philanthropy 166 New Adventures: Russian Puppets and Nuclear Waste 167 EastWest Institute 169 The National Bureau of Asian Research 170 The Pacific Health Summit 171 The Business Humanitarian Forum 173 One Nation Brings Together Americans of Different Faiths 175 A Child's Right 176 Note 177 About the Authors 179 Index 181
Acknowledgment xi Introduction xiii Chapter 1 Non-Negotiable Integrity 1 Building Character 2 Reach for the Summit 4 Our Business is Based on Trust 6 Integrity is More Important than the Bottom Line 9 Do the Right Thing 9 Integrity Cannot Be Negotiable 11 Chapter 2 Persistence, Patience, and Cold Calls 13 Early Days at Frank Russell Company 14 Building a Retail Sales Operation 15 Harvard to the Rescue 17 The Cold Call 20 Paul Kaltinick's Perspective 22 A Unique Selling Proposition 23 Evolving the Business Model 24 Compensation 25 Top 40 Hits: 1970-1974 27 Minimal Debt; Reinvest 28 Notes 29 Chapter 3 Hire People Smarter Than You Are 31 The Need for Innovation in Pension Fund Management 32 Peter Dietz and His Method of Performance Measurement 33 Helane Grill, Madelyn Smith, and Joan Sobba-The Three Musketeers of Manager Research 36 Creating a Universe 39 A New Process for a New Industry 40 Madelyn Smith Shows Her Style 42 Russ Fogler-Pioneer of Asset Allocation 43 Duncan Smith Asks the Tough Questions-and Answers Them 46 Don Ezra Defines the Right Way to Be a Fiduciary 49 The Best Investment I Ever Made 52 Notes 53 Chapter 4 Be Creative 55 The Treasurer's Club: They're Not Laughing Anymore 55 Blake Eagle Puts Real Estate on the Map 57 London Calling 60 Our Battle to Exceed Client Expectations 62 A Funny Thing Happened on May 1, 1980 63 The Only Difference is the Zeros 64 Making It Fly 65 FRTC's All-Stars 67 From Wall Street to Main Street 70 Concentric Circles 73 Chapter 5 Work Hard 77 Setting the Tone 78 The 120 Percent People 81 Work is Only a Means to an End 83 Incentives that Worked 85 Growth and Change 88 Chapter 6 Share Credit 93 Getting Rid of Titles 93 Stars of the Investment Industry 94 The A Team 95 Our Biggest Mistake 98 Plenty to Celebrate 100 Sharing Credit-Globally 104 Sharing Ownership 105 Chapter 7 Recognize Luck 109 Are You a Decision Maker? 111 The Decision Factory 112 Decision Triggers 114 Kelly Haughton Builds a Better Benchmark 116 GM Starts with a Clean Slate 118 Crossing the Threshold 118 Testing the Concept 120 How Much is Luck and How Much is Skill? 122 A Grammatical Postscript 124 Note 125 Chapter 8 Plan Transitions 127 Hire and Train Your Replacement 128 The Apprenticeship of Michael Phillips 131 Mike Takes the Helm 133 Continuity of Culture 135 Selling the Company 137 Closing the Deal-Complementary Skills 139 Moving Forward 140 Chapter 9 Take Risks 143 New Opportunities 143 The Inspiration of John Mroz 145 The Opportunity of a Lifetime 146 Access Matters 148 Russell's Venture in Alternative Investing 150 Asset Allocation is Rocket Science 152 The Final Frontier? 154 Chapter 10 Have Fun 159 Fun in the Himalayas 160 The Russell Sabbatical Program 161 Fun at Work 163 Transition to Philanthropy 166 New Adventures: Russian Puppets and Nuclear Waste 167 EastWest Institute 169 The National Bureau of Asian Research 170 The Pacific Health Summit 171 The Business Humanitarian Forum 173 One Nation Brings Together Americans of Different Faiths 175 A Child's Right 176 Note 177 About the Authors 179 Index 181
Rezensionen
"... The four decade history of Frank Russell Company (know today as Russell Investments) is intertwinded with Mr. Russell's matter-of-fact storytelling and insights. His anecdotes about non-negotiable integrity, hiring smarter people, recognizing luck and having fun at work are treasured lore for those who worked alongside him the past 40 years. Now Mr. Russell is sharing his favorite lessons at a time when many entrepreneurs, business leaders and civic-minded philanthropists are questioning what it takes to be successful during challenging times. ..." FinanzNachrichten.de, 20.11.2009
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