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 Richard Foster is a senior partner and director of McKinsey & Company. He joined McKinsey in 1973 and has served global clients in more than 50 industry segments but primarily within the medical products, pharmaceuticals, chemicals, consumer products, high technology, and asset management industries.
His current book, Creative Destruction, has been on the Business Week, The New York Times and The Wall Street Journal business bestseller lists and was on Amazon's and Harvard Business Review's list of top ten business books for 2001. The book looks at the long-term records of more than a thousand companies and concludes that only companies that change at the pace and scale of the market provide their investors with market-level returns. If top management wants to outperform the market over the long term, they will have to rethink, and reshape, their priorities.
Foster's first book, Innovation, The Attacker's Advantage, was voted one of the five best business books of the year in a Wall Street Journal CEO poll. He has written numerous articles on innovation and business performance for Business Week, Harvard Business Review, and The Wall Street Journal.
 |  | | Creative Destruction |  | McKinsey Quarterly, 2001, Number 3 In this excerpt from the book, the authors argue that managers must abandon assumptions of continuity and tackle the cultural barriers that make it hard to change corporate cultures, even in the face of clear market threats. | Read more on the McKinsey Quarterly site |
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 |  | | Manager's Journal: The Welch Legacy: Creative Environmental Destruction |  | The Wall Street Journal, May 01, 2002 Whole institutions may one day be built just to preserve and dissect the leadership lessons of Jack Welch, who stepped down as chairman and CEO of General Electric on Friday. But the key to understanding Mr. Welch's astonishing legacy of shareholder return lies in what Joseph Schumpeter, the great Austrian-American economist of the 1930s and '40s, called "the gales of creative destruction." | Read more |
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 |  | | Excellence Won't Save You |  | Across The Board Interview, September 23, 2002 In Creative Destruction, Richard Foster and Sarah Kaplan meticulously demonstrate how porous the definition of “best” is regarding corporate performance. The authors suggest steps, painful and risky though some of them may be, for companies to stay at the top of their game. | Launch this article (PDF - 1.2MB)  |
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 |  | In this Feature |  |
| |  | Biography - Richard Foster |
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