The Emperors Nightingale: Restoring the Integrity of the Corporation in the Age of Shareholder Activism

This was a stimulating and thoughtful analysis by someone who has been a successful capitalist with experience in the innermost sanctum of coporate America. It is amusing to see right wing academics (such as one of the reviewers of this book) stretch to condemn this author (a Republican businessman) for his "liberal agenda." Those who retain some sense of intellectual curiosity will find much to reflect upon here. Those who are comitted apologists for the status quo need not bother with this book.

Monks uses the science of complexity to examine the nature of organizational change. He posits that enterprises are undergoing a phase transition into a system for creating wealth for owners and society. He sees this corporate restoration process as a natural way to order the elements of corporate governance, increasing accountability to long-term owners. The book draws heavily on the new sciences (complexity science, chaos theory, complex adaptive systems) to shed light on the realities of the corporation. The bottom line in these pages is that corporate power is checked and held accountable, not by government or governance, but by the active involvement of institutional investors-pension funds and the like. The author's optimism is considerable in this regard; one only hopes he is right. There is a lot in this book worthy of your time. Overall, this work offers many unique insights and perspectives. Recommended. Reviewed by Gerry Stern, founder, Stern & Associates, author of Stern's Sourcefinder: The Master Directory to HR and Business Management Information & Resources, Stern's CyberSpace SourceFinder, and Stern's Compensation and Benefits SourceFinder.

One of the cover reviews of Monks 'Nightingale"' lauds the books as an "intellectual tour de force". While there are certainly high brow aspects to the content (specifically the discussion of corporations as complex adaptive systems), the author's basic premise is simple: shareholders - particularly private pension funds - must force their corporate managers not only to maximize profit, but also to adhere to David Engel's 'triad' of obeying the law, informing the public about the corporations impact on society (both good and bad), and minimizing corporate involvement in politics. Overall, Monks analogy to Hans Christian Andersen's story of the Emporer and the Nightingale is clever and appropriate. I began the book by reading Chapter One (the original story) to my children and saved the rest for contemplation of the growing need for corporate accountability. Who will deny that short-term corporate profit-making is unacceptable capitalism in a world that, as Monks points out, now must insist on "long-term economic value rooted in the social good"?

Great book. Gives great insight on how to create a system that uses corporations to serve people rather than a system that uses people to serve corporations.

Monks uses the science of complexity to examine the nature of organizational change. He posits that enterprises are undergoing a phase transition into a living, complex adaptive system for creating wealth for owners and society. He sees this corporate restoration process as a natural way to order the elements of corporate governance, increasing accountability to long-term owners. End notes, a glossary and an annotated presentation of articles and books on complexity science add to the value of this work. The book opens a window for the reader to discover many unique insights and perspectives about the living nature of organization. Its focus on owners (shareholders) is refreshing and important.