When aspiring executives take a new job, they understandably focus on how their business works, the business model, their company’s strategy and the nature of the industry. Too often, however, they neglect to study how their industry got to where it is today, and in doing so miss valuable lessons that might inform their next steps.
Gary Hoover of the American Business History Centers observes “I am often surprised how many entrepreneurs, and even folks with MBA degrees, don’t fully understand how big business really works, how company leaders think, and how companies strategize and compete. One of the best ways to understand all this is to study the structure and evolution of different industries. While each industry has unique characteristics, you’ll begin to see patterns if you read enough books and selected magazine and online stories. However, relying entirely on the Internet doesn’t work, because relatively little is posted on the net that has a true big picture or long-term historical view.”
Mr. Hoover doesn’t leave it there, fortunately. He offers quite a long list of books tracing history and development of different industries with a brief descriptive note for each.
I think you’ll be well rewarded in “Understanding How Business Works, with Book Recommendations“….and find out how well you understand your own industry, your customers and your competitors..
