Prof. Dr. Philip Kotler - Biography and Contribution - Marketing Management

 Kotler was born on May 27, 1931.

He studied Master's program at the University of Chicago (1953) in economics. His PhD was done at  Massachusetts Institute of Technology (1956),  in economics. He studied under three Nobel Laureates in Economic Science: Milton Friedman, Paul Samuelson, and Robert Solow.

Professor Kotler is the author of 57 books including: Marketing Management: Analysis, Planning, Implementation and Control, the most widely used marketing book in graduate business schools worldwide; Principles of Marketing; Marketing Models; Strategic Marketing for Nonprofit Organizations; The New Competition; High Visibility; Social Marketing; Marketing Places; Marketing for Congregations; Marketing for Hospitality and Tourism; The Marketing of Nations; Kotler on Marketing, Building Global Biobrands, Attracting Investors, Ten Deadly Marketing Sins, Marketing Moves, Market Your Way to Growth, Winning Global Markets, and Confrontiing Capitalism. He has published over one hundred and fifty articles in leading journals, several of which have received best-article awards.

Professor Kotler was the first recipient of the American Marketing Association's (AMA) "Distinguished Marketing Educator Award" (1985). The European Association of Marketing Consultants and Sales Trainers awarded Kotler their prize for "Marketing Excellence". He was chosen as the "Leader in Marketing Thought" by the Academic Members of the AMA in a 1975 survey. He also received the 1978 "Paul Converse Award" of the AMA, honoring his original contribution to marketing. In 1989, he received the Annual Charles Coolidge Parlin Marketing Research Award. In 1995, the Sales and Marketing Executives International (SMEI) named him "Marketer of the Year."  In 2011, he was given the title of being a Legend in Marketing; in 2012, he was #1 on the Management A-List of Academics; in 2013 he became the first recipient of the William L. Wilkie American Marketing Association Foundation's "Marketing for a Better World" Award for significant contributions to marketing theory and practice; also in 2013, he was inducted into the Management Hall of Fame; also in 2013, he became the first recipient of the Sheth Foundation Medal for Exceptional Contribution to Marketing Scholarship and Practice.  (https://www.kellogg.northwestern.edu/faculty/directory/kotler_philip.aspx)

Kotler's Contribution to Marketing - Three Areas: Conceptualiziing the  role and tasks of marketing management, broadening the concept of marketing, and pioneering quantitative marketing
http://glenurban.com/app/webroot/files/academic/kotler.pdf

Biography

https://en.wikipedia.org/wiki/Philip_Kotler

Some Publications

Kotler, Philip and Sidney Levy (1971), “Demarketing. Yes, Demarketing” , 49(6), 74-80
__________ (1972), “A Generic Concept of Marketing,” Journal of Marketing, 36 (April), 46-54.
__________ (1973), “The Major Tasks of Marketing Management,” Journal of Marketing, 37 (October), 42-49.
___________ (1974), “Marketing During Periods of Shortage,” Journal of Marketing, 38 (July), 20-29.
__________ (1980) "Market Challenger Strategies," in Thomas S. Dudick (ed.), Handbook of Business Planning and Budgeting for Executives with Profit Responsibility. NY: Van Nostrand Reinhold, pp. 66-70.

__________ and Balachandran (1975) "Strategic Remarketing: The Preferred Response to Shortages and Inflation," Sloan Management Review, Fall 1975, pp. 1-17.

__________ and Ravi Singh (1981) "Marketing Warfare in the 1980s," Journal of Business Strategy, Winter 1981, pp. 30-41.

__________ and Waldmar Pfoertsch (2007) “Being Known or Being One of Many: The Need for Brand Management for Business-to-Business (B2B) Companies,” The Journal of Business & Industrial Marketing, Vol. 22, No. 6, pp.357-362.


_________ (2010) “Must Marketing be reinvented to Achieve Sustainability?”, Harvard Business Review, in process


Books



Kotler's Interviews and Articles About Kotler

Visionary Series | Interview with Philip Kotler: Marketing for a Better World
http://www.i-socialmarketing.org/index.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D46:visionary-series---interview-with-philip-kotler--marketing-for-a-better-world%26catid%3D25:blog#.V0bHQjV96ig

https://en.wikipedia.org/wiki/Philip_Kotler

Marketing 1.0 to Marketing 6.0

https://www.forbes.com/sites/derekrucker/2021/06/16/the-evolution-of-marketing-a-candid-conversation-with-the-father-of-modern-marketing/

Philip Kotler; Hermawan Kartajaya; Hooi Den Huan

Entrepreneurial Marketing (Hardcover)

$28.00

Preorder

Shipping, arrives by Sat, Oct 1,2022.

Product details

An eye-opening discussion of the future of marketing, from four of the leading minds in the field

In Entrepreneurial Marketing: Beyond Professional Marketing, a renowned team of marketing leaders, including the "Father of Modern Marketing," Professor Philip Kotler, delivers a groundbreaking and incisive redefinition of entrepreneurial marketing. In the book, some of the marketing sector's brightest minds explore the increasingly essential initiative to build new capabilities beyond the mainstream marketing approach that also consider the effect of digital connectivity on consumers and companies everywhere. This book also discusses what marketers need to do to break the stagnation of normative marketing approaches that are often no longer effective in dealing with dynamic business environments.

The authors introduce a fresh entrepreneurial marketing approach, converging dichotomies into a coherent form. The book also includes:

A post-entrepreneurial-marketing view of the commercial landscape which puts the operational aspect at the center of the action, converging marketing and finance, and adopting technology for humanity

Discussions of the strategies and techniques that will drive the actions of the marketing departments to create value with values that will lead the company to success through the year 2030

Explorations of the paradox between the development of core competencies and collaboration with various parties, including competitors

The latest publication from some of the foremost minds in marketing--and in business, generally--Entrepreneurial Marketing: Beyond Professional Marketing is a must-read combination of unique insight, concrete advice, and implementable strategies that introduce a new mindset for every professional marketer, entrepreneur, and business leaders worldwide.

https://www.walmart.com/ip/Entrepreneurial-Marketing-Hardcover/661438577?wmlspartner=wlpa&selectedSellerId=0

Summary of Chapters of Kotler's Most Popular Book on Marketing Management

Marketing Concept - Kotler

Planning in the Marketing Process

Marketing Strategy - Marketing Process - Kotler's Description

Scanning of Environment for Marketing Ideas and Decisions
Revised Article: Scanning the Marketing Macroenvironment - Philip Kotler's Book Chapter Summary

Marketing Strategy - Differentiating and Positioning the Market Offering

Management of Marketing Department and Function

Determinants of Customer Satisfaction and Loyalty

Marketing Research and Market Demand Forecasting

Consumer Behavior

Analysis of Consumer Markets

Organizational Buying Processes and Buying Behavior

Market Segmentation and Selection of Target Segments

Branding Strategy and Brand Equity

Brand Positioning

Analyzing Competitors

Strategy of Market Leader

Marketing Strategies for Challenger Firms

Competitive Strategies for Followers and Nichers

Managing Product Lines and Brands

Marketing Strategy for New Industry Products

Marketing Management for Service Firms

Pricing Strategy and Tactics

Marketing Channel Management – Important Issues

Managing Wholesaling and Retailing Network

Marketing Logistics

Integrated Marketing Communication - Kotler and Keller Chapter Summary

Marketing Communication: Channels and Promotion Tools

Advertising

Sales Promotion

Marketing Public Relations

Sales Process and Sales Training

Direct Marketing

Online Marketing

Marketing and New Product Development

International and Global Marketing

Sales Force Management

Developing Enterprisewide or Company Wide Marketing Orientation

Management of Marketing Department and Function

Marketing Management, 16è Indian Edition co-authored by Philip Kotler, Kevin Lane Keller, Alexander Chernev, Jagdish Sheth N Sheth, & Shainesh G. 

The most anticipated book is finally dropping on 31st May' 2022.

Ud. 27.5.2022

Pub. 1.6.2014

Henry Gantt - Biography and Contribution - Industrial Engineering

Henry Laurence Gantt, A.B., M.E. (May 20, 1861 – November 23, 1919) was an American mechanical and industrial engineering.

Gantt was born in Calvert County, Maryland. He graduated from McDonogh School in 1878 and from Johns Hopkins University in 1880. He taught at the McDonogh School for three years. He received a Masters of Engineering degree from the Stevens Institute of Technology in New Jersey.

In 1884, he joined as a Mechanical Engineer with Pool and Hunt of Baltimore. In 1887 became an assistant to Frederick W. Taylor in applying industrial engineering (scientific management) principles to the work at Midvale Steel and Bethlehem Steel, working there with Taylor until 1893. In his later career as a management systems  consultant, he designed the 'task and bonus' system of wage payment and additional measurement methods for worker efficiency and productivity.

In 1916, influenced by Thorsten Veblen, he set up the New Machine, an association which sought to apply the criteria of industrial efficiency to the political process. In association with the Marxist,  Walter Polakov he led a group from the 1916 ASME conference to discuss Gantt's call for socialising industrial production under the control of managers incorporating Polakov's analysis of inefficiency in the industrial context.

The American Society of Mechanical Engineers (ASME) awards an annual medal in honor of Henry Laurence Gantt.

https://www.asme.org/about-asme/honors-awards/achievement-awards/henry-laurence-gantt-medal

Henry Gantt's legacy to production management is the following:

Industrial Efficiency: Industrial efficiency can be improved by the application of scientific analysis to all aspects of the work in progress. The industrial management's role is to improve the system by eliminating chance and accidents.

The Task And Bonus System: He linked the bonus paid to managers to how well they taught their employees to improve performance.

The Gantt chart: Still accepted as an important management tool today, it provides a graphic schedule for the planning and controlling of work, and recording progress towards stages of a project. The chart has a modern variation, Program Evaluation and Review Technique (PERT).

The social responsibility of business: He believed that businesses have obligations to the welfare of the society in which they operate.

Gantt and Charts for Visual Display of Load and Schedule

Gantt created many different types of charts. He designed his charts so that foremen or other supervisors could quickly know whether production was on schedule, ahead of schedule, or behind schedule. Modern project management software includes this critical function even now.

Gantt (1903) describes two types of balances:

The "man’s record", which shows what each worker should do and did do, and the "daily balance of work", which shows the amount of work to be done and the amount that is done.

Gantt gives an example with orders that will require many days to complete. The daily balance has rows for each day and columns for each part or each operation. At the top of each column is the amount needed. The amount entered in the appropriate cell is the number of parts done each day and the cumulative total for that part. Heavy horizontal lines indicate the starting date and the date that the order should be done. According to Gantt, the graphical daily balance is "a method of scheduling and recording work". In this 1903 article, Gantt also describes the use of: "production cards" for assigning work to each operator and recording how much was done each day.


In his 1916 book "Work, Wages, and Profits"  Gantt explicitly discusses scheduling, especially in the job shop environment. He proposes giving to the foreman each day an "order of work" that is an ordered list of jobs to be done that day. Moreover, he discusses the need to coordinate activities to avoid "interferences". However, he also warns that the most elegant schedules created by planning offices are useless if they are ignored, a situation that he observed.

In his 1919 book "Organizing for Work"  Gantt gives two principles for his charts:

One, measure activities by the amount of time needed to complete them;
Two, the space on the chart can be used to represent the amount of the activity that should have been done in that time.


Gantt’s machine record chart and man record chart are quite similar, though they show both the actual working time for each day and the cumulative working time for a week. Each row of the chart corresponds to an individual machine or operator. These charts do not indicate which tasks were to be done, however.




Some Publications


Henry L. Gantt, Dabney Herndon Maury (1884) The Efficiency of Fluid in Vapor Engines. D. Van Nostrand.
Henry L. Gantt (1903) A graphical daily balance in manufacture
Henry L. Gantt (1908) Training Workmen in Habits of Industry and Coöperation. 12 pages.
Henry L. Gantt (1910) The Compensation of Workmen ...: A Lecture Delivered Before the Harvard Graduate School of Business Administration, Dec. 15, 1910. 116 pages.
Henry L. Gantt (1910), Work, Wages, and Profits: Their Influence on the Cost of Living, New York, New York, USA: Engineering Magazine Company, LCCN 10014590. (See also second edition, revised and enlarged.)

Henry L. Gantt (1916), Industrial leadership, New Haven: Yale University Press.
Henry L. Gantt (1919), Organizing for Work, New York, New York, USA: Harcourt, Brace, and Howe, LCCN 19014919.

https://archive.org/details/organizingforwo00gantgoog

Henry Gantt - Biography Articles

http://en.wikipedia.org/wiki/Henry_Gantt

http://www.uh.edu/engines/epi2753.htm

http://www.teachspace.org/personal/research/management/gantt_and_williams.html

http://www.elizabethedersheim.com/2013/05/20/enduring-thinkers-henry-laurence-gantt-born-may-20-1861/

https://history-biography.com/henry-gantt/

Ud. 20.5.2022

Pub: 20.5.2014

Elwood S. Buffa - Biography and Contribution

El Buffa was one of the founding fathers of the field of production and operations management. His very first book, Modern Production Management published in 1961, redefined the field. Its key contribution was to integrate ideas from industrial engineering and the then rather young discipline of operations research to suggest ways to improve efficiency in both the manufacturing and service sectors. The book became an instant success and was adopted as a basic text for introductory courses in production management throughout the country and around the world. The book has been translated into half a dozen languages and went through eight editions through 1987. Thousands of academics and practitioners learned about the field from this classic text and its distinguished 1963 sequel, Operations Management (whose exquisitely descriptive title was taken up quickly by business schools and remains ubiquitous unto the present day). Buffa wrote 9 major texts and a total of 26 distinct editions, and is widely considered to be his field’s most influential textbook writer during the 1960s and 1970s. 

(I would like to specifically mention that Buff did not mention industrial engineering in  his book of  modern production management. If he correctly identified the role of industrial engineering discipline, he would have done a great service to industrial engineering. But by carefully avoiding even mention of industrial engineering in the index of the text he did a great disservice to industrial engineering.)

Elwood Buffa was born on April 12, 1923 to an Italian father and an English mother in Beloit, Wisconsin. 

El finished his MBA in 1948 after completing his military service, after which the Eastman Kodak Company offered him a job in their Industrial Engineering Department. This was El’s first challenge to improve the cost, quality and efficiency of manufacturing operations. He found that he especially enjoyed training people in new ways to improve productivity.

El’s fondness of teaching led him in 1951 to the University of Illinois, Urbana-Champaign as an assistant professor of industrial engineering, where he soon discovered that he needed a PhD to make a career in academia. So, with the strong support of Professor Ralph Barnes, then one of the most influential industrial engineers in the country, El enrolled in UCLA’s PhD program at the College of Engineering, and taught as a lecturer at the business school to support his family. He settled in Pacific Palisades where he raised his children, Carl, Jerry, and Linda.

In 1957, El received his PhD and was appointed as an associate professor at UCLA’s School of Business Administration. He was promoted to the rank of professor in 1961. He was a visiting professor at Harvard Business School from 1963 to 1964, but UCLA lured him back where he remained until retirement. El contributed to UCLA in many ways. His contributions as an educator and scholar are well recognized in the field, and he was known throughout the UCLA community for his distinguished service to the University. He was chairman of the Budget Committee, which reviewed all promotions and appointments for the entire campus. He was elected chairman of the UCLA Academic Senate from 1975 to 1976. He served as associate dean (1970-1974) of the Graduate School of Management and was the founding director of the Executive MBA Program (1981-1984), which went on to become a highly successful program at the UCLA Anderson School.

http://senate.universityofcalifornia.edu/inmemoriam/elwoodbuffa.html

Perspectives in Operations Management: Essays in Honor of Elwood S. Buffa

Rakesh K. Sarin
Springer Science & Business Media, 06-Dec-2012 - Business & Economics - 493 pages


In the fall of 1992 a conference honoring Elwood S. Buffa was held at the Anderson Graduate School of Management of the University of California, Los Angeles. This book is a collection of the work presented at that conference. The scholars who gathered to honor El are the prominent researchers in the field of Operations Management. Their collective work published in this book represents the richness of the field and provides the reader with valuable insights into its important issues and problems.

The book is organized into four sections. In the first section the articles dealing with the strategic issues in Operations Management are compiled. The articles deal with continuous improvement, quality, services, supply chain management, and creating value through operations. The articles that explore the interface of Operations Management with other functional areas, e.g. engineering and marketing, are grouped in the second section. The third section of the book contains articles that attempt to model some important planning problems that arise in the management of production and operations. Some of the papers in this section provide state of the art reviews of selected topic areas. Finally, the fourth section contains articles that deal with future directions for Operations Management. The authors offer several insights into the future evolution of the field.

The book begins with the keynote address given by El Buffa at the start of the conference on November 2, 1991.

https://books.google.co.in/books?id=zPgGCAAAQBAJ



One Year Industrial Engineering Knowledge Revision Plan
http://nraoiekc.blogspot.com/2016/02/one-year-industrial-engineering.html


Updated 12 April 2017, 23 October 2014

Prof. Martin Shubik - Biography and Contribution

Martin Shubik is a mathematical economist at Yale and a pioneer of game theory and the "Edgeworthian revival" in general equilibrium theory.

His birthday is 24 March 1926.

Shubik was born in New York City in 1926. But, he received his early education in England. Then he moved to Canada where he graduated with a B.A. in mathematics and  an M.A. in political economy from the University of Toronto in 1947. Shubik joined  Princeton University in 1949, and received a Ph.D. in economics in 1953 under the supervision of Oskar Morgenstern, one of the founding fathers of game theory. The class notes Shubik took of Morgenstern’s lectures and in the correspondence with him throughout the years shows the influence of Morgenstern on him. Shubik made  life-long contributions to game theory and its application to economic problems.


Major Works of Martin J. Shubik

"A Business Cycle Model with Organized Labor Considered", 1952, Econometrica.

"A Comparison of Treatments of a Duopoly Problem", 1955, Econometrica.
"Market Form: Intent of the firm and market behavior", 1957, ZfN.
"Edgeworth Market Games", 1959, in Luce and Tucker, editors, Contributions to the Theory of Games IV.
Strategy and Market Structure, 1959.

"Objective Functions and Models of Corporate Optimization", 1961, QJE.
"Approaches to the Study of Decision Making Relevant to the Firm", 1961, J of Business [cwls]
"Some Experimental Non-Zero Sum Games with Lack of Information About the Rules", 1962, Management Science [cwls]
"Incentives, Decentralized Control, the Assignment of Joint Costs and Internal Pricing", 1962, Management Science. [cwls]
"Game Theory and the Study of Social Behavior", 1964, in Shubik, editor, Game Theory and Relate Approaches.
"Quasi-Cores in a Monetary Economy with Non-Convex Preferences", with L.S.Shapley, 1966, Econometrica. [cwls]
"Concepts and Theories of Pure Competition", with L.S. Shapley, 1967, in Shubik, editor, Essays in Mathematical Economics.

"Ownership and the Production Function", with L.S. Shapley,  1967, QJE. [cwls]
"Simulation of  Socio-Economic Systems", 1967, General Systems [cwls]
"Toward a Study of Bidding Processes Part IV: Games with Unknown Costs", with J.H. Griesmer and R.E. Levitan,  1967, Naval Research Logistics Quarterly [cwls]
"Game Theory: Economic Applications", 1968, IESS [cwls]
"Extended Edgeworth Bargaining games and Competitive Equilibrium", 1968, Metroeconomica.[cwls]
"A Further Comparison of Some models of Duopoly", 1968, Western EJ. [cwls]
"Welfare, Static and Dynamic Solution Concepts", 1968, Décision: Agrégation et Dynamique des Ordres de Préférence [cwls]
"Pure Competition, Coalitional Power and Fair Division", with L.S.Shapley,1969, IER. [cwls]
"On Market Games",with L.S.Shapley, 1969, JET. [cwls]
"On the Core of an Economic System with Externalities" with L.S.Shapley, 1969, AER.
"Price Strategy Oligopoly with Product Variation" with L.S.Shapley, 1969, Kyklos. [cwls]
"Voting, or a Price System in a Competitive Market Structure", 1970, APSR [cwls]
"Game Theory, Behavior and the Paradox of the Prisoner's Dilemma: Three solutions", 1970, Journal of Conflict Resolution.
"The Bridge Game Economy: An example of invisibilities", 1971, JPE. [cwls]
"Pecuniary Externalities: A game theoretic analysis", 1971, AER. [cwls]
"The Dollar Auction Game: A paradox in non-cooperative behavior and escalation", 1971, J of Conflict Resolution
"Games of Status", 1971, Behavioral Science [cwls]
"Price Variation Duopoly with Differentiated Products and Random Demand" with R. Levitan, 1971, JET [cwls]
"Noncooperative Equilibria and Strategy Spaces in an Oligopolistic Market" with R. Levitan, 1971,  in Kuhn and Szego, editors, Mathematical  Models of Action and Reaction [cwls]
"An Experiment with Ten Duopoly Games and Beat-the-Average Behavior", with Martin Riese, 1971 [pdf]
"On the Scope of Gaming", 1972, Management Science [cwls]
"Price Duopoly and Capacity Constraints", with R. Levitan, 1972, IER [cwls]
"The Assignment Game, I: The core" with L.S.Shapley, 1972, Int Journal of Game Theory. [pdf]
"Fiat Money and Noncooperative Equilibrium in a Closed Economy", 1972, Int Journal of Game Theory.
"Commodity Money, Credit and Bankruptcy in a General Equilibrium Model", 1972, Western EJ.
Models, Simulations and Games: a survey, with G.D. Brewer, 1972
"Fiat Money in an Economy with One Nondurable Good and No Credit (A Noncooperative Sequential Game)." with W. Whitt, 1973,  in A. Blaquiere, editor, Topics in Differential Games [cwls]
"Commodity Money, Oligopoly, Credit and Bankruptcy in a General Equilibrium Model", 1973, Western EJ. [cwls]
"Information, Duopoly and Competitive Markets: A sensitivity analysis", 1973, Kyklos. [cwls]
"The Core of a Market Game with Exogenous Risk and Insurance", 1973, New Zealand Economic Papers [cwls]
"The General Equilibrium Model: Barter and Trust, or Mass Markets with Money and Credit", 1974, Econ Record [cwls]
"Money, Trust and Equilibrium Points in Games in Extensive Form", 1975, ZfN [cwls]
"Oligopoly Theory, Communication, and Information", 1975, AER
"Competitive Equilibrium, the Core, Preferences for Risk and Insurance Markets", 1975, Econ Record
"The General Equilibrium Model is Incomplete and Not Adequate for the Reconciliation of Micro and Macro-economic Theory", 1975, Kyklos
Games for Society, Business and War, 1975.
The Uses and Methods of Gaming, 1975.
"A Non-Cooperative Model of a Closed Economy with Many Traders and Two-Bankers", 1976, ZfN.
"Competitive Outcomes in the Cores of Market Games" with L.S. Shapley, 1976, IJGT
"Trade Using One Commodity as a Means of Payment" with L.S. Shapley, 1977, JPE.
"Competitive and Controlled Price Economies: the Arrow-Debreu model revisited", 1977, in Schwodiauer, editor, Equilibrium and Disequilibrium in Economics.
"An Example of a Trading Economy with Three Competitive Equilibria", 1977, with L.S. Shapley, JPE
"Competitive Equilibrium Contingent Commodities and Information", 1977, J of Finance
"The Optimal Bankruptcy Rule in a Trading Economy using Fiat Money", with C. Wilson, 1977, ZfN.

"A Theory of Money and Financial Institutions", 1978, Economie Appliquee.
"Trade and Prices in a Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money and Compound Futures Markets", with P. Dubey, 1977, Econometrica
"A Closed Economic System with Production and Exchange Modelled as a Game of Strategy"  with P. Dubey, 1977, JMathE
"A Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money, Futures and Spot Markets" with P. Dubey, 1977, IJGT
"The Nucleolus as a Noncooperative Game Solution", with H.P. Young, 1978, in Ordeshook, editor, Game Theory and Political Science.
"Duopoly with Price and Quantity as Strategic Variables", with R. Levitan, 1977, IJGT
"A Theory of Money and Financial Institutions: The Noncooperative Equilibria of a Closed Trading Economy with Market Supply and Bidding Strategies." with P. Dubey, 1978, IJGT
"Bankruptcy and Optimality in a Closed Trading Mass Economy Modelled as a Non-Cooperative Game", with P. Dubey,1978, JMathE
The War Game, with G. Brewer, 1979.

The Aggressive Conservative Investor, 1979
"The Capital Stock Modified Competitive Equilibrium", 1980, in Kareken and Wallace, Models of Monetary Economies.
Market Structure and Behavior, with R.E. Levitan, 1980.
"Efficiency Properties of Strategic Market Games: An Axiomatic Approach"  with P. Dubey and A. Mas- Colell, 1980, JET [cwls]
"Efficiency of Cournot-Nash Equilibria in Strategic Market Games" with P. Dubey and A. Mas- Colell, 1980.
"A Strategic Market Game with Price and Quantity Strategies" with P. Dubey, 1980, ZfN

The Aggressive Conservative Investor, with M.J. Whitman, 1980.
Market Structure and Behavior, with R.E. Levitan, 1980.
Game Theory in the Social Sciences: Concepts and solutions, 1981.
Game Theory Models and Methods in Political Economy", 1981, in Arrow and Intriligator, editors, Handbook of Mathematical Econ, Vol. I - intro
"Competitive Valuation of Cooperative Games", with R.J. Weber, 1981, Mathematics of Operations Research.
"Information Conditions, Communication and General Equilibrium", with P. Dubey, 1981, Mathematics of Operations Research
"Perfect or Robust Noncooperative Equilibrium: A Search for the Philosophers Stone?", 1981, in  Essays in Game Theory and Mathematical Economics
"Society, Land, Love or Money", 1981, JEBO
"The Strategic Audit: A Game Theoretic Approach to Corporate Competitive Strategy", 1983,  Management and Decision Economics
"Approximate Cores of Replica Games and Economies, Part I & II" with M. Wooders, 1983,  Mathematical Social Sciences
"Perfect Competition in Strategic Market Games with Interlinked Preferences" with P. Dubey, 1985, Econ Letters
"A Note on Enough Money in a Strategic Market Game with Complete or Fewer Markets", 1985, Econ Letters
"The Cooperative Form, the Value, and the Allocation of Joint Costs and Benefits", 1985, in Young, editor, Cost Allocation
"A Strategic Market Game with Transactions Costs" with J. Rogawski, 1986, Math Soc Sciences
"The Many Approaches to the Study of Monopolistic Competition", 1986, European ER
"A Note on the 'Corelessness' or Antibalance of a Game" with S. Weber, 1986, IJGT
"Strategic Market Game: A Dynamic Programming Application to Money, Banking and Insurance", 1986, Math Soc Sciences
"Near-Markets and Market Games" with M. Wooders, 1986, ESQ [pdf]
"The Revelation of Information in Strategic Market Games", with P. Dubey and J. Geanakoplos, 1987, JMathE
"What Is an Application and When Is Theory a Waste of Time?", 1987, Management Science
"The Unique Minimal Cash Flow Competitive Equilibrium", 1987, Econ Letters
"Revenge and Rational Play" with B. Nalebuff, 1988
"Gaming: Theory and Practice, Past and Future", 1989, Simulation and Games
"Gold, Liquidity and Secured Loans in a Multistage Economy, Part I: Gold as Money" with S. Yao, 1989, J of Economics
"Gold, Liquidity and Secured Loans in a Multistage Economy, Part II: Many Durables, Land and Gold" with S. Yao, 1990, J of Economics
"A Strategic Market Game with Complete Markets", with S. Sahi, R. Amir and S. Yao, 1990, JET
"The Transactions Cost of Money (A Strategic Market Game Analysis)" with S. Yao, 1990, Math Soc Sciences
"The Transactions Trust Demand for Money", 1990, J of Economics
"The Capital Asset Pricing Model as a General Equilibrium with Incomplete Markets" with J. Geanakoplos, 1990, Geneva Papers on Risk & Insurance
"A Game Theoretic Approach to the Theory of Money and Financial Institutions." 1990, in Friedman and Hahn, editors, Handbook of Monetary Economics
"A Strategic Market Game of a Finite Exchange Economy with a Mutual Bank", with J. Zhao, 1991, Math Soc Sciences
"A Strategic Market Game with a Mutual Bank with Fractional Reserves and Redemption in Gold (A
Continuum of Traders)", with D. Tsomocos, 1992, J of Economics
"On Matching Book: A Problem in Banking and Corporate Finance" with M.J. Sobel, 1992, Management Science
The Theory of Money and Financial Institutions, 1993.
"Repeated Trade and the Velocity of Money", with P. Dubey and S. Sahi, 1993, JMathE
"Prominence, Symmetry, or Other?", 1994, Games & Econ Behav.
"Some Dynamics of a Strategic Market Game with a Large Number of Agents" with J.M. Miller, 1994, J of Economics
"Construction of Stationary Markov Equilibria in a Strategic Market Game" with I. Karatzas and W.D. Sudderth, 1994, Math of Operations Research
"Why Equilibrium? A Note on the Noncooperative Equilibria of Some Matrix Games", 1996, JEBO
"Trade with Assignats or Landbank Money: Equilibria in a Finite-Person Strategic Market Game", with  A.K. Jayawardene, 1997, JMathE
"A Theorem on the Number of Nash Equilibria in a Bimatrix Game" with T. Quint, 1997, IJGT
"Some Simple Games for Teaching and Research. Part 1: Cooperative Games" [cwls]
"Game Theory, Complexity, and Simplicity. Part III: Critique and Prospective", 1998, Complexity [cwls]
"Terrorism, Technology and Socio-economics of Death", 1998 [pdf]
"Clubs, Near Markets and Market Games," with M.Wooders, 2000, Fields Institute Communications.
"The Theory of Money", 2000 [cwls]
"Default in a General Equilibrium Model with Incomplete Markets" with P. Dubey and J. Geanakoplos [cwls]
"Fiat Money and the Efficient Financing of the Float, Production and Consumption. Part I: The Float" [cwls]
"War Gaming in the Information Age: theory and purpose" with Paul Bracken, 2001, Naval War College Review [pdf]

"Accounting and Economic Theory", 2002 [ssrn]
"Is economics the next physical science?" with J.D. Farmer and E. Smith, 2005, Physics Today
"Everyone-a-Banker or the Ideal Credit Acceptance Game: Theory and Experimental Evidence" with J. Huber and S. Sunder,
"An Economy with Personal Currency: Theory and evidence" with M. Angerer, J. Huber and S. Sunder, 2008
"Proposal for a Federal Employment Reserve Authority", 2009 [levy]
"The Present and Future of Game Theory", 2011 [cowles]
"Simecs, Ithaca Hours, Berkshares, Bitcoins and Walmarts", 2014

The Guidance of an Enterprise Economy
By Martin Shubik, Eric Smith
2016
https://books.google.co.in/books?id=8srxDAAAQBAJ&printsec=frontcover#v=onepage&q&f=false


https://mitpress.mit.edu/authors/martin-shubik

http://blogs.library.duke.edu/rubenstein/2012/12/18/the-martin-shubik-papers-from-early-game-theory-to-the-strategic-analysis-of-war/
http://www.hetwebsite.net/het/profiles/shubik.htm

Sigmund Freud - Biography and Contribution

Birthday 6 May 2016

http://www.iep.utm.edu/freud/

http://www.sigmundfreud.net/


Book by Freud - The Interpretation of Dreams
http://psychclassics.yorku.ca/Freud/Dreams/dreams.pdf

Daniel Goleman - Biography and Contribution

Daniel Goleman worked as a science journalist and reported on the brain and behavioral sciences for The New York Times for many years.  His 1995 book, Emotional Intelligence was on The New York Times bestseller list for a year-and-a-half, with more than 5,000,000 copies in print worldwide in 40 languages. It is a best seller in many other countries also. Apart from his books on emotional intelligence, Goleman has written books on  topics including self-deception, creativity, transparency, meditation, social and emotional learning, ecoliteracy and the ecological crisis.

The Harvard Business Review and chose his article “What Makes a Leader” as one of ten “must-read” articles from its pages. Emotional Intelligence was named one of the 25 “Most Influential Business Management Books” by TIME Magazine. The Financial Times, Wall Street Journal and Accenture Insititute for Strategic Change have listed Goleman among the most influential business thinkers.

Goleman is a co-founder of the Collaborative for Academic, Social, and Emotional Learning (www.casel.org), originally at the Yale Child Studies Center and now at the University of Illinois at Chicago. CASEL’s mission centers on bringing evidence-based programs in emotional literacy to schools worldwide.

He currently co-directs the Consortium for Research on Emotional Intelligence in Organizations (www.eiconsortium.org) at Rutgers University. The consortium fosters research partnerships between academic scholars and practitioners on the role emotional intelligence plays in excellence.

Goleman is a board member of the Mind & Life Institute, which fosters dialogues and research collaborations among contemplative practitioners and scientists. Goleman has organized a series of intensive conversations between the Dalai Lama and scientists. Based on these discussions,  the books Healthy Emotions, and Destructive Emotions were published. He is currently editing a book from the most recent dialogue on ecology, interdependence, and ethics.

His most recent book, Leadership: The Power of Emotional Intelligence, offers an up-to-date summary of his thinking on leadership. The book contains his articles from the Harvard Business Review.

Goleman’s other recent book, The Brain and Emotional Intelligence: New Insights gathers together recent findings from brain research and other sources on topics ranging from creativity and optimal performance, the brain-to-brain connection in leadership, and to how to enhance emotional intelligence itself.

Goleman’s 2009 book, Ecological Intelligence: How Knowing the Hidden Impacts of What We Buy Can Change Everything, argues that new information technologies allow us to know the environmental, health, and social consequences of what we buy. Shoppers can use point-of-purchase ecological comparisons to guide their purchases. Market share would shift to products and firms that support changes taking care of environment.

Goleman’s work as a science journalist has been recognized with many awards, including the Washburn Award for science journalism, a Lifetime Career Award from the American Psychological Association. He was made a Fellow of the American Association for the Advancement of Science in recognition of his communicating science to the general public.

Taiichi Ohno - Biography and Contribution - Toyota Production System

Birthday  29 February 1912


http://www.toyota-global.com/company/vision_philosophy/toyota_production_system/origin_of_the_toyota_production_system.html


http://toyotaky.com/history.asp


http://www.economist.com/node/13941150



He used to ask new recruits to stand and observe the production system to find waste and eliminate it.
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C4 Problem Solving & Process Improvement

Prof. Joan Woodward - Biography and Contribution

Joan Woodward (September 27, 1916 – 1971) was a British professor in organization sociology

Joan Woodward undertook her research at South East Essex College of Technology. She  joined Imperial College in 1957 as a part-time lecturer in Industrial Sociology and was appointed to a Senior Lectureship in the Production Engineering Section in 1962. Woodward was a leading academic and researchers  in the field of Organization Theory. Woodward was a pioneer for empirical research in organizational structures and author of analytical frameworks that establish the link between technology and production systems and their role in shaping effective organizational structures. She classified the technology into Unit based or (Small scale), Mass based or (large scale) and Continuous process organizations. In 1969, she was appointed  as Professor of Industrial Sociology and Director of the Industrial Sociology Unit.

Her work received international recognition, leading to an invitation to join a group of the top seven organization theorists that was called the Magnificent Seven. In 1970, Prof. Woodward published a book "Industrial Organization: Behaviour and Control".  This text contains description of  the complete work of her research group since 1962.

Woodward died in 1971, aged 54 due to breast cancer. She was the second woman to receive a chair at Imperial College and she  is a role model for women in science, engineering and technology.I

The bi-annual Joan Woodward Memorial Lecture takes place at Imperial College Business School. The Joan Woodward Prize is bestowed annually on an undergraduate or post-graduate undertaking a thesis in a topic that matches the research interests of Joan Woodward.

https://en.wikipedia.org/wiki/Joan_Woodward



ndustrial Organization
Theory and Practice
Second Edition
Joan Woodward
Introduction by Dorothy Wedderburn and Sandra Dawson
288 pages | text-figures, tables | 216x138mm
978-0-19-874122-0 | Paperback | 18 December 1980
http://ukcatalogue.oup.com/product/9780198741220.do


http://www.provenmodels.com/39/technology-typology/joan-woodward

Prof. Sumantra Ghoshal - Biography and Contribution

Sumantra Ghoshal
Birthday 26 September 1948

Death 3 March 2004  Hampstead, United Kingdom due to Brain Haemorrage


Sumantra Ghoshal was born in Calcutaa. He attended the Ballygaunge Government High School, and graduated from Delhi University with Physics major and attended the Indian Institute of Social Welfare and Business Management.

He started his career in Indian Oil Corporation. He went ot United States on a Fulbright Fellowship and Humphrey Fellowship in 1981. Ghoshal was awarded an M.S. and a PhD by  the MIT Sloan School of Management in 1983 and 1985 respectively. He  was  awarded a D.B.A. degree from Harvard Business School in 1986. He worked on these two doctoral degrees at the same time, writing two distinct dissertations on two different topics

In 1985, he joined INSEAD Business School in France. He  wrote a number of influential articles and books. In 1994, he joined the London Business School. Ghoshal was a Fellow of the Advanced Institute of Management Research (AIM) in the U.K.


https://en.wikipedia.org/wiki/Sumantra_Ghoshal

http://www.theguardian.com/news/2004/mar/08/guardianobituaries.india

https://www.london.edu/faculty-and-research/subject-areas/strategy-and-entrepreneurship/sumantra-ghoshal-conference-2015/about-sumantra-ghoshal#.VgZ1vtKqqko

http://www.economist.com/node/13760551

Karl Ludwig von Bertalanffy - Biography - Contribution

Karl Ludwig von Bertalanffy (September 19, 1901 – June 12, 1972) was an Austrian-born biologist known as one of the founders of general systems theory (GST).

GST is an interdisciplinary practice that describes systems with interacting components, applicable to biology, cybernetics, and other fields.

General system theory
The theory attempted to provide alternatives to conventional models of organization. GST defined new foundations and developments as a generalized theory of systems with applications to numerous areas of study, emphasizing holism over reductionism, organism over mechanism.

Foundational to GST are the inter-relationships between elements which all together form the whole.

Open systems
Bertalanffy's contribution to systems theory is best known for his theory of open systems. The system theorist argued that traditional closed system models based on classical science and the second law of thermodynamics were inadequate for explaining large classes of phenomena. Bertalanffy maintained that “the conventional formulation of physics are, in principle, inapplicable to the living organism being open system having steady state.

In Bertalanffy’s model, the theorist defined general principles of open systems and the limitations of conventional models. Concerning biology, examples from the open systems view suggested they “may suffice to indicate briefly the large fields of application” that could be the “outlines of a wider generalization;” He developed implications for cybernetics also. Bertalanffy also noted unsolved problems.

Systems in the social sciences

In the social sciences, Bertalanffy did believe that general systems concepts were applicable, e.g. theories that had been introduced into the field of sociology from a modern systems approach that included “the concept of general system, of feedback, information, communication, etc.” He  critiqued classical “atomistic” conceptions of social systems and ideation “such as ‘social physics’ as was often attempted in a reductionist spirit.”  The theory  encouraged for new developments from sociology, to anthropology, economics, political science, and psychology among other areas.

https://en.wikipedia.org/wiki/Ludwig_von_Bertalanffy

http://www.isss.org/lumLVB.htm

Very detailed paper on General System Theory  http://www.mind-development.eu/systems.html

Systems Approach in Management

Prof A.D. Chandler - Biography - Contribution

Alfred DuPont Chandler, Jr. (September 15, 1918 – May 9, 2007) was a professor of business history at Harvard Business School. His research area was  the scale and the management structures of modern corporations. His works redefined business and economic history of industrialization. He received the Pulitzer Prize for History for his work, The Visible Hand: The Managerial Revolution in American Business (1977).

Chandler graduated from Harvard College in 1940. After World War II, he returned to Harvard, finished his M.A. in 1946, and earned his doctorate in 1952 under the direction of Frederick Merk. He taught at M.I.T. and Johns Hopkins University before joining Harvard Business School in 1970.


Chandler used the papers of his ancestor Henry Varnum Poor, a leading analyst of the railway industry, the publisher of the American Railroad Journal, and a founder of Standard & Poor's, for his Ph.D. thesis.

His book Strategy and Structure: Chapters in the History of the Industrial Enterprise (1962) examined the organization of E.I. du Pont de Nemours and Company, Standard Oil of New Jersey, General Motors, and Sears, Roebuck and Co.  The book was voted the eleventh most influential management book of the 20th century in a poll of the Fellows of the Academy of Management.

This emphasis on the importance of a cadre of managers to organize and run large-scale corporations was explained in more detail in  "The Visible Hand: The Managerial Revolution in American Business (1977)" for which he received a Pulitzer Prize. He pursued the research  further and published "Scale and Scope: The Dynamics of Industrial Capitalism, (1990)" and co-edited an anthology  with Franco Amatori and Takashi Hikino, "Big Business and the Wealth of Nations (1997)."

Chandler continued to do research and write until the very end of his life. In 2001, he wrote “Inventing the Electronic Century: The Epic Story of the Consumer Electronics and Computer Industry,” which focused on the fall of the Radio Corporation of America (RCA) and the rise of Sony and Matsushita, as Japan conquered the worldwide consumer electronics market. That volume was followed in 2005 by “Shaping the Industrial Century: The Remarkable Story of the Evolution of the Modern Chemical and Pharmaceutical Industries.”

Management for Chandler was much more than the CEO, it was the whole system of techniques and included middle management  as well as the corporate structure of the biggest firms, Standard Oil, General Electric, US Steel, and DuPont. Chandler argued that managerial firms evolved in order to take advantage of productive techniques available after the rail network was in place. These firms had a higher productivity and lower costs resulting in higher profits. The firms created the "managerial class" in America because they needed to coordinate the increasingly complex and interdependent system.


According to Chandler, during the 19th century, the development of new systems based on steam power and electricity created a Second Industrial Revolution, which resulted in much more capital-intensive industries than had the industrial revolution of the previous century. The mobilization of the capital necessary to exploit these new systems required a larger number of workers and managers, and larger physical plants than ever before. More particularly, the thesis of The Visible Hand is that,  administrative structure and managerial coordination replaced Adam Smith's "invisible hand" (market forces) among perfectly competitive market system with large number of sellers and buyers as the core developmental and structuring impetus of modern business.

In the wake of this increase of industrial scale, three successful models of capitalism emerged, which Chandler associated with the three leading countries of the period: Great Britain ("personal capitalism"), the United States ("competitive capitalism") and Germany ("cooperative capitalism.")


Along with economist Oliver E. Williamson and historians Louis Galambos, Robert H. Wiebe, and Thomas C. Cochran, Chandler was a leading historian of the organizational synthesis.



Chandler is also credited with the foundational role in introducing and popularizing the concept of business strategy.

In sociology, prior to Chandler's research, some sociologists assumed there were no differences between governmental, corporate, and nonprofit organizations. Chandler's work on corporations clearly demonstrated that there were differences, and this thesis has influenced organizational sociologists' work since the late 1970s.

https://en.wikipedia.org/wiki/Alfred_D._Chandler,_Jr.
http://news.harvard.edu/gazette/story/2007/05/hbs-professor-alfred-chandler-jr-pre-eminent-business-historian-dead-at-88/
http://www.nytimes.com/2007/05/12/business/12chandler.html?_r=0

Henri Fayol - Biography and Contribution

Date of Birth  29 July 1841

Henri Fayol was born in 1841 of a family of businessmen. At the age of 19, he graduated as a mining engineer. He got job as engineer in the Commentry groups of pits of the Commentry-Fourechambault Company in 1860. He remained with this company throughout his long and distinguished business career. He became its Managing Director and retired from the position in 1918.


His first address on administration was delivered on 23 June 1900.

He gave a second lecture on administration in 1908 in the Silver Jubilee Congress of the Societe de l'Industrie Minerale.

His famous work "Admininistration Industrielle et generale" was published in a bulletin in 1916.

Profesor Henry Mintzberg - Biography and Contribution

Date of birth 2 September 1939

http://www.mintzberg.org/


http://www.economist.com/node/12918770

Benjamin Graham - Biography and Contribution

Benjamin Graham (Birthday: May 8, 1894) was a British-born American stock market professional,  teacher of stock market investment theory and author of famous books on stock market investment.  Graham is considered the father of value investing, an investment approach he began teaching at Columbia Business School in 1928. His book with  David Dodd had several editions and explained Security Analysis of both equity and debt securities in detail. Graham's students went on to become successful investors. Graham's most well-known disciples include Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss, among others. Buffett credits Graham as grounding him with a sound intellectual investment framework and described him as the second most influential person in his life after his own father. In fact, Graham had such an overwhelming influence on his students that two of them, Buffett and Kahn, named their sons Howard Graham Buffett and Thomas Graham Kahn after him.

Benjamin Graham was born Benjamin Grossbaum in London, England,to Jewish parents. He moved to New York City with his family when he was one year old. He graduated from Columbia University. He took a job on Wall Street and in due course started the Graham-Newman Partnership, an investment firm. He started teaching Security Analysis in the evenings in 1928.

His book, Security Analysis, with David Dodd, was published in 1934. He published "The Intelligent Investor"  in 1949. Both books had further revisions. Both are famous books and are essential reading for serious investors.   Warren Buffett describes The Intelligent Investor as "the best book about investing ever written." Graham's most famous student is Warren Buffett.

Interesting Articles About Graham's Investment Approach and Philosophy by Narayana Rao K.V.S.S.

1.  Fundamental Analysis – Graham–Rao Method

2. Graham-Rao Method

3. Fundamental Analysis -Topic 1 Graham Rao Method  - The article has links to Google Docs

Jerry A. Hausman - Biography and Contribution

Jerry Allen Hausman (birthday: May 5, 1946) is the John and Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology.

He is one of the developers of  the Durbin-Wu-Hausman test,

His recent applied papers are on topics including the effect of new goods on economic welfare and their measurement in the CPI, new telecommunications technologies including cellular 3G and broadband, regulation of telecommunications and railroads, and competition in network markets.


https://www.aeaweb.org/honors_awards/bios/Jerry_Hausman.php

http://en.wikipedia.org/wiki/Jerry_A._Hausman

Fredirick Herzberg - Biography and Contribution - Two Factor Theory of Motivation

Frederick Irving Herzberg (April 18, 1923 – January 19, 2000 is  an American psychologist who conributed to management theory in business management. He is most famous for introducing the concept of  job enrichment and the Motivator-Hygiene theory. His 1968 publication "One More Time, How Do You Motivate Employees?" had sold 1.2 million reprints by 1987 and was the most requested article from the Harvard Business Review. This article explain how to do job enrichment. It describes horizontal loading and vertical loading of jobs.



He graduated from the City College of New York in 1946. He then joined University of Pittsburgh and took a master's degree in science and public health. His  Ph.D. research  focused on electric shock therapy.

Herzberg worked at the University of Utah, until he retirement. Prior to the  move to Utah, Herzberg was professor of management at Case Western Reserve University where he established the Department of Industrial Mental Health.

In his lifetime, Herzberg had consulted for many organisations as well as for the United States and other foreign governments.

Motivator-Hygiene Theory

According to the motivator-hygiene theory ( two-factor theory, of job satisfaction)  hygiene factors will not motivate, but if they are not there, they can lower motivation.



Motivational factors are responsible for increasing motivation if they are present in the job situation. These factors include job recognition, potential for promotion and satisfaction derived from the work itself.


http://www.lib.uwo.ca/programs/generalbusiness/herzberg.html

http://en.wikipedia.org/wiki/Frederick_Herzberg

Walter Shewhart - Biography and Contribution

Date of Birth 18 March 1891


Shewhart's monumental work, Economic Control of Quality of Manufactured Product, published in 1931, is regarded as a complete and thorough exposition of the basic principles of quality control.

He graduated from the University of Illinois with bachelor’s and master’s degrees, and he received a doctorate in physics from the University of California at Berkeley in 1917. He taught for some time at the universities of Illinois and California, and  headed the physics department at the Wisconsin Normal School in LaCrosse.

Shewhart joined industry and  worked as an engineer at Western Electric from 1918 to 1924. At Bell Telephone Laboratories, he served in several capacities as a member of the technical staff from 1925 until his retirement in 1956.  He learned statistics by himself (self learning) and developed statistical process control concepts and related charts as a member of inspection staff at Hawthorne Plant of Western Electric.

He also lectured on quality control and applied statistics at the University of London, Stevens Institute of Technology, the graduate school of the U.S. Department of Agriculture, and in India. He was a member of the visiting committee at Harvard’s Department of Social Relations, an honorary professor at Rutgers, and a member of the advisory committee of the Princeton mathematics department. Shewhart served the War Department, the United Nations, and the government of India, as consultant and he was active with the National Research Council and the International Statistical Institute. He was an honorary member of England’s Royal Statistical Society and the Calcutta Statistical Association. He was a fellow and officer of the Institute of Mathematical Statistics, the American Association for the Advancement of Science, and the American Statistical Association, and a fellow of the Econometric Society, the International Statistical Institute, and the New York Academy of Science.

He taught at the universities of Illinois and California, and he briefly headed the physics department at the Wisconsin Normal School in LaCrosse. He served for more than 20 years as the first editor of the Mathematical Statistics Series published by John Wiley and Sons.

Shewhart wrote Statistical Method from the Viewpoint of Quality Control in 1939. He published numerous articles in professional journals.  One of the historical documents of Shewhart kept at Bell Laboratories is  the historic memorandum of May 16, 1924, in which he proposed the control chart to his superiors.

He died on 11 March 1967.

Both Deming and Juran were in touch with him and both promoted his ideas vigorously and added their contribution.

http://asq.org/about-asq/who-we-are/bio_shewhart.html

http://www.qualitymag.com/articles/85973-remembering-walter-a-shewhart-s-contribution-to-the-quality-world

http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2464836/

http://www.jstor.org/discover/10.2307/25047976?sid=21105677761361&uid=3738256&uid=4&uid=2
Sankhya - The Indian Journal of Statistics, October 1948
Shewart visited and lectured in India three times during 1947 to 1948 and was awarded D.Sc. by Indian Statistical Institute in 1962.

http://www.amstat.org/about/statisticiansinhistory/bios/ShewhartWalter.pdf

Prof T.V. Rao - Biography and Contribution

He was a professor at IIM, Ahmedabad. He remained very active after his retirement also and is spearheading HR movement in the country.


IIM Ahmedabad Faculty Page
http://www.iimahd.ernet.in/faculty-and-research/faculty-profile.html&user_id=65

Detailed biogrphy
http://en.wikipedia.org/wiki/T._V._Rao

Professor Rosabeth Moss Kanter - Biography and Contribution

Date of Birth  15 March 1943

Rosabeth Moss Kanter holds the Ernest L. Arbuckle Professorship at Harvard Business School, where she specializes in strategy, innovation, and leadership for change. She is also Chair and Director of the Harvard University Advanced Leadership Initiative, an innovation that helps successful leaders at the top of their professions apply their skills to national and global challenges in their next life stage.


http://www.hbs.edu/faculty/Pages/profile.aspx?facId=6486

http://www.economist.com/node/12492049

Joseph Schumpeter - Biography and Contribution

Joseph Schumpeter - Biography


Joseph Alois Schumpeter (8 February 1883 – 8 January 1950) was an Austrian-American economist and political scientist. He briefly served as Finance Minister of Austria in 1919. In 1932 he became a professor at Harvard University where he remained until the end of his career.


Schumpeter was born in Třešť, Habsburg Moravia (now Czech Republic, then part of Austria-Hungary) in 1883 to Catholic German-speaking parents. When Joseph was only four years old, Joseph and his mother moved to Vienna.

Schumpeter studied under the Austrian capital theorist Eugen von Böhm-Bawerk and did  his PhD in 1906. In 1909,  he became a professor of economics and government at the University of Czernowitz. In 1911, he joined the University of Graz, where he remained until World War I.

In 1918, Schumpeter was a member of the Socialization Commission established by the Council of the People's Deputies in Germany. In March 1919, he was invited to take office as Minister of Finance in the Republic of German-Austria. In 1921, he became president of the private Biedermann Bank. He was also a board a member at the Kaufmann Bank.

From 1925 to 1932, Schumpeter held a chair at the University of Bonn, Germany. He lectured at Harvard in 1927–1928 and 1930. In 1931, he was a visiting professor at The Tokyo College of Commerce. In 1932, Schumpeter moved to the United States, to Harvard In 1939, Schumpeter became a US citizen.

At Harvard, Schumpeter took heavy teaching load and he showed his personal and painstaking interest in his students. He served as the faculty advisor of the Graduate Economics Club and organized private seminars and discussion groups.Schumpeter in 1942 published what became the most popular of all his works, Capitalism, Socialism and Democracy. It was  reprinted many times and in many languages in the following decades, as well as cited thousands of times.


Schumpeter died in his home in Taconic, Connecticut, at the age of 66, on the night of 7 January 1950. Schumpeter's  posthumous publication was History of Economic Analysis.

Economic Ideas and Analysis of Schumpeter

The source of Joseph Schumpeter's dynamic, change-oriented, and innovation-based economics was the Historical School of economics. Schumpeter's work on the role of innovation and entrepreneurship can be seen as a continuation of ideas originated by the Historical School, especially the work of Gustav von Schmoller and Werner Sombart.

According to Schumpeter circular flow excluding any innovations and innovative activities, leads to a stationary state. The stationary state was, according to Schumpeter, described by Walrasian equilibrium. The entrepreneur disturbs this equilibrium and is the prime cause of economic development, which proceeds in cyclic fashion along several time scales. In fashioning this theory connecting innovations, cycles, and development, Schumpeter kept alive the Russian Nikolai Kondratiev's ideas on 50-year cycles, Kondratiev waves. Schumpeter suggested a model in which the four main cycles, Kondratiev (54 years), Kuznets (18 years), Juglar (9 years) and Kitchin (about 4 years) can be added together to form a composite waveform.


Lecture on Capitalism of Schumpeter
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Upload by Adam G.


Schumpeter also thought that the institution enabling the entrepreneur to buy the resources needed to realize his or her vision was a well-developed capitalist financial system, including a whole range of institutions for granting credit.

Schumpeter believed that the success of capitalism would lead to corporatism and to values hostile to capitalism, especially among intellectuals. Unemployment and a lack of fulfilling work will cause intellectual critique, discontent and protests. Parliaments will increasingly elect social democratic parties, and democratic majorities will vote for restrictions on entrepreneurship. Increasing workers' self-management, industrial democracy and regulatory institutions would evolve non-politically into "liberal capitalism". Thus, the intellectual and social climate needed for thriving entrepreneurship will be replaced by some form of "laborism". This will restrict "creative destruction" and so will burden and destroy the capitalist structure.

Schumpeter's democracy is the mechanism for competition between leaders.  Although periodic votes by the general public legitimize governments and keep them accountable, the policy program is very much seen as their own and not that of the people, and the participatory role for individuals is usually severely limited.

His fundamental theories are often referred to as Mark I and Mark II. In the first, Schumpeter argued that the innovation and technological change of a nation come from the entrepreneurs, or wild spirits. He and asserted that "... the doing of new things or the doing of things that are already being done in a new way" stemmed directly from the efforts of entrepreneurs.

Mark II was developed when Schumpeter was a professor at Harvard. Contrary to the prevailing opinion, Schumpeter argued that the agents that drive innovation and the economy are large companies which have the capital to invest in research and development of new products and services and to deliver them to customers cheaper, thus raising their standard of living. In one of his seminal works, "Capitalism, Socialism and Democracy", Schumpeter wrote:

... large concerns--which, as in the case of agricultural machinery, also account for much of the progress in the competitive sector--and a shocking suspicion dawns upon us that big business may have had more to do with creating that standard of life than with keeping it down.


Schumpeter sees innovations as clustering around certain points in time periods that he refers to as "neighborhoods of equilibrium", when entrepreneurs perceive that risk and returns warrant innovative commitments. These clusters lead to long cycles by generating periods of acceleration in aggregate growth.  New inventions are typically primitive, their performance is usually poorer than existing technologies and the cost of their production is high. A production technology may not yet exist, as is often the case in major chemical inventions, pharmaceutical inventions. The speed with which inventions are transformed into innovations and diffused depends on actual and expected trajectory of performance improvement and cost reduction.


http://en.wikipedia.org/wiki/Joseph_Schumpeter