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Entrepreneurs appear to become better managers of their businesses once those businesses go public: this means more attention to systematic planning, more reliance on other senior managers and directors, less secretiveness and longer time horizons. Isolates characteristics of growing firms compared to “stalled” firms and suggests ways for private companies to gain benefits like those public flotation would provide. Suggestions are designed to stimulate the positive influences of going public without disposal of privately held shares.

Would‐be entrepreneurs who start or acquire businesses, driven by the popular belief that executive competence can conquer all, are likely to be disappointed. Executive competence, while important, is often subordinate to the concept and capital utilization characteristics of the business in determining organizational outcomes. Proposes five guidelines for starting or acquiring a business which, if observed, will increase the chances of entrepreneurial success and corresponding wealth accumulation.

The succession of second‐generation entrepreneurs to control of the family business created by their fathers is a challenging, often unsatisfactory process. A study of ten entrepreneurial families who have experienced succession discovered that the preparation of sons and daughters to take over the family business was disorganised, inadequate, and sometimes inept. Moreover, founder‐fathers and non‐family employees had done little to prepare for the transition to second‐generation leadership. Based on the troubling experience of these ten families and the author′s work with dozens of family businesses, this article proposes a comprehensive developmental model designed to increase the chances of second‐generation success.

This paper discusses recent developments in asset‐backed financing and proposes a method for securitizing the bankers' acceptance market. It then derives a model for the pricing of these securitized bankers' acceptances (SECBAs) incorporating a random arrival and maturity process. The paper concludes with a discussion of institutional factors and alternative methods for implementing our proposal.

The conflict between “serving” and “supervising” an owner manager is an important reason for the role difficulties faced by directors of private companies. Explores the conflicting motivations of owners who establish boards of directors; discusses the role of both owner‐manager entrepreneurs and directors in making private company boards work; and gives guidelines for reducing conflict and increasing board effectiveness. It is based on a survey of 25 directors of private and public company boards.

Using the analogy of expensive trains heading for a crash, asserts that business schools must learn to do what they teach – i.e. become learning organizations – if they are to stay relevant in a rapidly changing world. Offers advice to schools on how to change, describing learning competences which must be acquired, and illustrates this by using the Weatherhead School of Management′s approach to executive learning.

Maintains that high performance companies have an unmistakable profile that separates them from also‐rans, including distinctive characteristics of the corporate culture, the people and the management systems. Isolates seven attributes that differentiate the culture of high‐performing companies, lists staff, behaviours that set them apart, and describes three uncompromising principles upon which the management system is founded.

Reviews the essential elements of entrepreneurial success in large and small, existing or newly‐created companies. Examines the links between the firm and its environment, strategy and risk taking. Identifies the essential elements and argues that satisfying customer needs is the cornerstone of success.

For any company, the management of the new product development process is critical to maintaining its market share and competitive advantage. The consequences of designs which are incompatible with key business processes of a company are more severe now than ever before. Focuses on the importance of recognizing that the design process has more to contribute to a manufacturing business than the technological progress it helps to bring about. To this end, for some years now, the principles of design for manufacture have been applied right across the industry, but these have invariably concentrated on making the manufacturing processes simpler, more consistent, user‐friendly and cheaper to operate. This philosophy needs to be extended much further so that the design process takes full account of the requirements of the total supply chain to ensure maximum flexibility and responsiveness to customer demands at a minimum total cost to the business.