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This audiobook is certainly worth a listen. The book is laid out in a clear, concise manner with a case study on each of the Outsiders CEOs. Each of the CEOs faced a unique set of obstacles making this book an engrossing listen/read throughout.
Please note that the emphasis is on the success of the CEOs in office rather than on the formative background that made these CEOs unique. As such, the reader/listener has to take on a degree of blind faith in making sure the author uses the right metrics to identify success for these standout CEOs. For example, much is made of about the stock price CAGR during the tenure of the CEO and therefore, a heavy emphasis is placed on various methods to gain leverage (stock buybacks, debt issuance, etc.). Naturally, higher beta/leverage in a growing industry promises to substantial outperformance in a growing industry but taking on more risk in an uncertain market and have the dice fall in your favor doesn't necessarily mark great decision making. Rant over. Good book. Well narrated. Makes you think.
3 of 3 people found this review helpful
What made the experience of listening to The Outsiders the most enjoyable?
It's fascinating to see the similarities and differences in these leaders' strategies. What's remarkable is how their results were so much better than their competitors' in the same industry. These executives didn't achieve their success with blockbuster products or emerging markets. Instead, they focused on capital allocation - taking the funds that the company generated and allocating it toward its highest and best use, whether that use was to buy back stock, reduce debt, pay shareholders, expand the existing business or acquire complementary or integrated businesses.
Was there a moment in the book that particularly moved you?
What I took from this book is that leaders make a huge difference in the performance of a business. And those leaders aren't the people who make the cover of Fortune or Forbes. They're men (mostly) who take actions (divesting assets, buying back stock) that the public generally doesn't notice, but that make their shareholders substantially richer than investors in other companies in the same industry. Who expects an executive who shrinks a defense contractor to a fraction of its former size or sells his visible consumer packaged goods businesses to focus on agricultural feed or buys back her stock when its undervalued to be more successful than Jack Welsh, the standard against which our subjects are measured.
2 of 2 people found this review helpful
Life changing for business leadership imagery and assumptions. Its the why of brilliance, simply the standard for commercial knowledge.
1 of 1 people found this review helpful
This was quite useful. it just made me focus on the importance of cash flow and capital allocation for business health and longevity.