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Alfred Chandler. 1918-Present. Who On Earth Is This Guy?. Educator Author Historian. Family History. Father - Alfred DuPont Chandler Mother - Carol Ramsay Born 1918 - Guyencourt, Delaware 1944 - Married Fay Martin Had Four Children. Education. 1940 - Graduated from Harvard College

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alfred chandler

Alfred Chandler

1918-Present

who on earth is this guy
Who On Earth Is This Guy?
  • Educator
  • Author
  • Historian
family history
Family History
  • Father - Alfred DuPont Chandler
  • Mother - Carol Ramsay
  • Born 1918 - Guyencourt, Delaware
  • 1944 - Married Fay Martin
  • Had Four Children
education
Education
  • 1940 - Graduated from Harvard College
  • 1940-1945 - Navy - Lt. Commander
  • 1947 - Masters from Harvard
  • 1952 - Ph.D. Harvard
  • Bunch of Honorary Degrees
educator
Educator
  • 1950-1951 Research Associate, MIT
  • 1951-1964 Instructor - Professor, MIT
  • 1963-1971 Professor, Johns Hopkins
  • 1966-1970 Dept. Chair, Johns Hopkins
  • 1964-1971 Director, Center for Study of Recent American History
  • 1971-1989 Straus Professor of Business History, Harvard
  • 1989- Emeritus
author
Author
  • 1956, Henry Varnum Poor
  • 1962, Strategy and Structure (Newcomen Award, 1964)
  • 1965, The Railroads
  • 1971, Pierre S. duPont (with Stephen Salsbury)
  • 1978, The Visible Hand (Pulitzer & Bancroft Prizes)
  • 1980, Managerial Hierarchies (with Richard Tedlow)
  • 1985, The Coming of Managerial Capitalism
  • 1988, The Essential Alfred Chandler
historian
Historian
  • Economic History Association (President 1971-1972)
  • Organization for American Historians
  • Society for the History of Technology
  • Historical Association
  • American Antiquarian Society
  • American Historians
  • Massachusetts Historical Society
  • American Academy of Arts and Sciences
  • American Philosophical Society
his basis
His Basis
  • Business Week
  • Historical Perspective
strategy and structure
Strategy and Structure
  • “Structure in big business enterprises follows strategy”
  • What is Strategy?
  • What Drives Changes in Strategy?
  • Multi-Purpose Divisional Structure
  • Role of Business Leaders
  • Key Impact on Large Industry
the visible hand
The Visible Hand
  • Adam Smith
  • Business: Two Phases
  • Modern Business Is
the visible hand1
The Visible Hand
  • Fundamental Changes
    • Production
    • Distribution
    • Markets
  • Integration
  • Human Aspect
the visible hand progression
The Visible Hand - Progression

Founders

Ownership

(Diffused)

Middle

Managers

Top

Mgmt.

Middle

Managers

business development
Business Development
  • Second Industrial Revolution
  • Old Industries Transformed
  • New Industries Developed
  • Economic Growth and Development
  • International Expansion
  • Capital-Intensive Markets
organizational capabilities
Organizational Capabilities
  • First Movers
  • Market Share Changes - Non-Econ!
  • Theories of the Firm
    • Neoclassical Theory
    • Principal-agent Theory
    • Transactions Cost Theory
    • Evolutionary Theory
organizational capabilities1
Organizational Capabilities
  • International Competition
    • Held Back by World Events
    • Reality in 1960’s
  • Core Competence
    • Diversification
    • Divestiture
profit growth
Profit Growth
  • Short-Term
  • Long-Term
    • Geographic
    • Product
criticisms
Criticisms
  • Strategy and Structure
    • Tom Peters
    • Mintzberg
  • The Visible Hand
    • Nothing noted about newer techniques
    • Nothing said of behavior sciences
    • Importance of the human element
    • Failure to provide evidence
    • Evaluation of social costs and benefits
summary
Summary
  • Historian
  • Studied Large Industrial Business History
  • Conclusions:
    • Structure Follows Strategy
    • Decentralized, Multi-Purpose Divisional Structure is Optimum
    • The ‘Visible Hand’ of Management has Taken the Place of Adam Smith’s ‘Invisible Hand’ of Market Forces (Market Economy vs. Managerial Capitalism)
    • Management has not basically changed since WWI
summary1
Summary
  • Conclusions:
    • Market Share Driven by Functional and Strategic Competition, Not by Price Competition
    • Firms (Physical and Human Assets) Are the Basic Unit of Historical Economic Analysis
    • Firms Should Stick to Their Core Competencies
    • Long-Term Profit Growth is Gained from Expansion into New Geographic or Product Markets