Business Lessons from History: CGB Interview with Gary Hoover

Deirdre Mendez, Director, Center for Global Business at McCombs

CGB’s Dr. Deirdre Mendez interviewed Gary Hoover, Executive Director of the American Business History Center. Here are some key takeaways from Gary’s recommendations for global business leaders:

· Most questions and challenges companies face today have been around for a long time. Business leaders can learn from the past to create solutions for the present and future.

· Over time, the prominence of US companies on lists of the world’s largest firms (measured by revenue) has declined. The list now includes companies headquartered throughout the world and is becoming more diverse. Globalization is here to stay.

· Government attempts at antitrust regulation of companies have never been very successful, and have in some cases encouraged monopolies. Innovation and competition are more successful than regulation in preventing monopolies.

· Successful companies will be ones that maintain a constant focus on delivering value to customers. Beware of peripheral concerns that divert attention from a firm’s core mission.

· Visit www.americanbusinesshistory.org for a list of business history articles, videos, and resources, including biographies of business leaders of the past who business leaders of the present should know about.

Watch the interview at: