Aligning the Stars: Organizing Professionals to Win

Amazon.com
Combining perspectives of "a doer and a teacher" with experiences of two dozen professional service firms representing the ups and downs of the Old and New economies, Aligning the Stars offers detailed analysis of such firms today--and specific suggestions for their future success. Jay W. Lorsch, professor of human relations at Harvard Business School, and Thomas J. Tierney, former chief executive of Bain & Company (and now chairman of its nonprofit affiliate), interviewed principals at successful and struggling law firms, ad agencies, investment banks, and similar institutions to determine the practices that have helped the best thrive. Their conclusion: "Outstanding firms are consistently able to identify, attract, and retain star performers; to get stars committed to their firm's strategy; to manage stars across geographic distance, business lines, and generations; to govern and lead so that both the organization and its stars prosper and feel rewarded." Their book subsequently provides specific ways these "stars" (key performances critical to organizational success) can be "aligned" (via practices and structures that match their needs with those of the business). Lorsch and Tierney progress logically through client-centered strategies, development- and motivation-oriented people systems, corporate structure and governance, organizational culture, and leadership. A final section aims to help readers succeed in these newly shaped environments. --Howard Rothman


From Publishers Weekly
Focusing on the sector of professional service firms (including ad agencies, law firms, executive search firms, tech service providers, strategy consultants and more), Harvard Business School professor Lorsch and consultant Tierney explain how to manage talent for success. The authors examine 18 organizations, from Goldman Sachs to Ogilvy & Mather, to show readers how "alignment" (organizing a firm's talent) results from leadership and its implementation. Professional service firms are a major component of business today, making the market for Lorsch and Tierney's book a substantial one. Their suggestions are timely and specific.


Book Description
Every company relies on talent to succeed, but none so much as professional service firms. Within this rapidly expanding, trillion-dollar sector, people are more than "valuable assets"; they are the source of competitive advantage. Indeed, success is determined more by the people these firms pay than by the people who pay them. What separates the best professional firms from their less-successful competitors? And what lessons do their experiences hold for other talent-driven businesses? In this comprehensive book, respected academic Jay W. Lorsch and accomplished practitioner Thomas J. Tierney draw from rigorous research and decades of experience to provide a practical perspective on how to win in professional services. Their work is based on an analysis of industry leaders in fields as diverse as law, accounting, investment banking, advertising, information technology, executive search, and management consulting. Aligning the Stars argues that strategic success is achieved by building an organization of executive-level stars whose day-to-day performance reinforces and ultimately achieves the goals of the business. Outstanding firms align stars across business lines, geographies, and even generations. Through compelling real-world examples, Lorsch and Tierney show how successful firms create and sustain alignment via: · Strategy: Determining which elements of strategy are most important and why-and how effective implementation incorporates organizational realities. · People Systems: Converting talent into stars, while nurturing "firm first" behaviors. · Structure and Governance: Organizing around partnership principles-even in a corporate environment. · Culture: Actively managing the culture to guide-and control-individual behavior. · Leadership: Exercising effective leadership when the power to control "partner-peers" is limited. · Careers: Aligning individual stars by helping professionals build a life, not just a resume. By showing how to integrate strategy, organization, and the needs of individual stars, this book offers valuable lessons for the current and future leaders of every talent-driven business.


From the Back Cover
"For years I have wanted to find a book I could enthusiastically recommend to people in search of the key elements peculiar to building enduring, great professional firms. Finally, that book exists. The beauty of this work is its combination of fundamental principles refined by hard-won experience. Aligning the Stars is intelligent and practical, comprehensive and readable-and it should be required reading for all leaders, not just in professional firms, but in any complex organization where people must lead without the executive power enjoyed by corporate leaders. The authors have done a magnificent service." -Jim Collins, author of Good to Great and coauthor of Built to Last "This book is almost as good as a Harvard M.B.A. degree. Written by the men who really know, it tells how best to get all members of a business team working toward the same goals. Filled with real-life examples, both good and bad, it combines theoretical concepts with practical how-to-do-it execution. I wish it had been written when I was running Goldman Sachs, except that our competitors might have read it too." -John C. Whitehead, former Co-Chairman, Goldman Sachs "All partners in professional firms will recognize themselves and their firms in Aligning the Stars. For CEOs, especially those of us who are new to the position, the practical experience and wisdom here provide guidance and comfort. The central theme-that firm practices and structures must fit both the needs of the business and the needs of the individuals who make it succeed-is fundamental to understanding the delicate balance involved in leading talented, independent professionals. The book is a must-read for every professional." -David W. Heleniak, Senior Partner, Shearman & Sterling


About the Author
Jay W. Lorsch is the Louis Kirstein Professor of Human Relations at the Harvard Business School. Thomas J. Tierney is the former Chief Executive of Bain & Company, and currently serves as Chairman of The Bridgespan Group, Bain's nonprofit affiliate.


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Thomas J. Tierney is the former Chief Executive of Bain & Company, and currently serves as Chairman of The Bridgespan Group, Bain's nonprofit affiliate.


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