One from Many: VISA and the Rise of Chaordic Organization (AGENCY/DISTRIBUTED) - Softcover

Dee Hock

Softcover

ISBN 10: 1576753328 ISBN 13: 9781576753323

Publisher: Berrett-Koehler Publishers, 2005

Synopsis

The worldwide success of VISA International, Dee Hock asserts, is due to its chaordic structure: it is owned by 22,000 member banks, which both compete with each other for 750 million customers and must cooperate by honoring one another's $125 trillion in transactions annually across borders and currencies.""One From Many takes the never-before-told story of how that structure came into being, and updates it for today. The book also highlights Dee Hock's evolution from humble beginnings to an iconoclast who challenged the nature of traditional organizations and management. It is the story of an entrepreneur who created a new concept of organization, brought it into being, and led it to amazing success in less than a decade. Hock is a corporate statesman who continues to carry these ideas around the world. Lyrical, humorous, powerfully thoughtful, ""One From Many tells how one man blended chaos and order in the unexpected realm of business.

About this title

About the Author

Dee Hock is founder and CEO emeritus of VISA. In 1991, Hock became one of thirty living Laureates of the Business Hall of Fame, and in 1992 was recognized by Money magazine as one of the eight individuals who most changed the way people live in the previous quarter century.

Excerpt. © Reprinted by permission. All rights reserved.

Introduction

Today, before any audience in the world, I can hold a Visa card overhead and ask,“How many of you recognize this?” Every hand in the room will go up.When I ask,“How many of you can tell me who owns it, how it’s governed, or where to buy shares?” a dead silence comes over the room. Something incredible happened, but what, and how?

In 1969, Visa was little more than a set of unorthodox convictions about organization slowly growing in the mind of a young corporate rebel. In 2004, its products are created by 21,000 owner/member financial institutions and used by more than a billion people to purchase $3.2 trillion of goods and services at 20 million merchant locations in more than 150 countries, the largest block of consumer purchasing power in the global economy. For thirty-five years, it has grown from 15 to 50 percent, compounded annually, with no end in sight.

But this book is much more than the story of the scarcely believable events that brought Visa into being and led to its extraordinary success. It is also the story of an introverted, smalltown child, passionate to read, dream, and wander the woods, the youngest of six, born to parents with but an eighth-grade education. It’s a story of crushing confinement and interminable boredom in school and church, along with sharp, rising awareness of the chasm between how institutions profess to function and how they actually do; what they claim to do for people and what they actually do to them. It’s about three compelling questions arising from that awareness:

Why are institutions, everywhere, whether political, commercial, or social, increasingly unable to manage their affairs?

Why are individuals, everywhere, increasingly in conflict with and alienated from the institutions of which they are part?

Why are society and the biosphere increasingly in disarray?

It’s a story of a lifelong search for the answer to those questions, which had everything to do with the formation of Visa. It’s a story of harboring four beasts that inevitably devour their keeper; ego, envy, avarice, and ambition; and of a great bargain, trading ego for humility, envy for equanimity, avarice for time, and ambition for liberty. It’s a story of events impossible to foresee, that sent a man of seventy on a journey more improbable than Visa, and infinitely more important.

Beyond all else, it’s a story of the future; of something trying to happen; of a four-hundred year old age rattling in its deathbed as another struggles to be born. It is not just my story, although I am in it. It is not just your story, although you are in it. It is a story of us all.

Edition details

• Publisher: Berrett-Koehler Publishers
• Publication date: 2005
• Language: English
• ISBN 10: 1576753328
• ISBN 13: 9781576753323
• Binding: Paperback
• Edition number: 2
• Number of pages: 307