Lessons from the Titans: What Companies in the New Economy can Learn from the Great Industrial Giants to Drive Sustainable Success

  • 5h 26m
  • Carter Copeland, Rob Wertheimer, Scott Davis
  • McGraw-Hill
  • 2020

Three top Wall Street analysts reveal enduring lessons in sustainable success from the great industrial titans—the high-tech companies of their day—to the disruptors that now dominate the economy.

Before Silicon Valley disrupted the world with new technologies and business models, America’s industrial giants paved the way. Companies like General Electric, United Technologies, and Caterpillar were the Google and Amazon of their day, setting gold standards in innovation, growth, and profitability. Today’s leaders can learn a great deal from their successes, as well as their missteps. In this essential guide, three veteran Wall Street analysts reveal timeless lessons from the titans of industry—and offer battle-tested survival tactics for an ever-changing world. You’ll learn:

  • how GE became the largest company on earth—only for a culture of arrogance to set in motion the largest collapse in history
  • how Boeing reassessed risks, raised profits—and tragically lost its balance
  • how Danaher avoided the pitfalls of tremendous success—by continually reinventing itself
  • how Honeywell experienced a near-fatal cultural breakdown—and executed a flawless turnaround
  • how Caterpillar relied too much on forecasting, lost billions—and rallied by recommitting to the basics

Filled with illuminating case studies and brilliant in-depth analysis, this invaluable book provides a multitude of insights that will help you weather market upheavals, adapt to disruptions, and optimize your resources to your best advantage. You’ll learn hard-won lessons in innovation, growth, resilience, and operational excellence, as well as the time-proven fundamentals of continuous improvement for lasting success. In the end, you’ll have your own personal toolbox of useful takeaways from more than a century’s worth of data, experience, wisdom, and can-do spirit, courtesy of some of the greatest business enterprises of all time. This is how manufacturers survived the first disruptors of technology—and how today’s giants can survive and thrive during continuous cycles of disruption.

About the Authors

Scott Davis serves as Chairman and CEO of Melius Research, where he is also the lead research analyst covering the multi-industry sector. With 25 years of experience in industrials equity research, he has ranked in the top decile of Wall Street analysts, including being recognized as the number one multi-industry analyst by Institutional Investor six times. Davis also led elite research teams for more than two decades as Head of Global Industrials Research at both Morgan Stanley and Barclays.

Carter Copeland is the President of Melius Research, where he is also the lead research analyst covering the global aerospace and defense sector. He has 15 years of experience on Wall Street, is consistently ranked in Institutional Investor’s annual survey of top analysts, and was named the number one aerospace and defense analyst by Institutional Investor’s Alpha magazine. He previously served as Managing Director and senior analyst at Barclays and Lehman Brothers.

Rob Wertheimer is a founding partner of Melius Research, where he serves as the Director of Research and lead research analyst for the global machinery sector. He has two decades of equity research experience, and has been recognized as a top-three analyst by Institutional Investor. Prior to Melius, he led machinery coverage at Barclays, Vertical Research, and Morgan Stanley.

In this Book

  • General Electric Part I: The Jack Welch Years and the Cash Flow Machine That Created the Largest Company on Earth
  • General Electric Part II: How a Culture of Arrogance Led to the Largest Collapse in American History
  • Boeing: A Struggle to Find Balance in Risk Management
  • Danaher: Process-Driven Reinvention
  • Honeywell: How Cultural Transformation Led One of the Greatest Turnarounds in History
  • United Technologies: The Dangers of Fixed Incentives
  • Caterpillar: Avoiding the Forecasting Trap
  • Roper: The Amazing Untold Story of Brian Jellison and His Timeless Lessons on Compounding
  • Transdigm: How to Turn a Million into a Billion
  • Stanley Black & Decker: Adding a Digital Layer
  • United Rentals: Asset Sharing Done Right
  • The Importance of Business Systems and Other Key Lessons from Industrials