Issue link: https://www.e-digitaleditions.com/i/56065
how long it takes for a payback on investment. "Government has a role in stimulating a vibrant entre- preneurial sector," he writes. "But at the same time, it is easy for the government to overstep its bounds and squander its investments." This book aims to steer policymakers in the right direction. (Princeton Uni- versity Press, $27.95) Climate change is one of the looming problems of the 21st century, and its possible consequences include destruction of coastal cities, famine, drought, and widespread disease. While long-term solutions revolve around creating sustainable energy sources, short-term solutions are vital for halting the damage now. In Saving Kyoto, Graciela Chichilni- sky and Kirsten A. Sheeran argue that the global "carbon market" of cap-and-trade is one key part of the short-term solution. Chichilnisky is a Columbia professor who was an archi- tect of the Kyoto Protocol's global carbon market; co- author Sheeran hails from St. Mary's College of Maryland. Together they present the business case for Kyoto, esti- mating what it will cost if we com- mit to lowering carbon emissions, what it will cost if we don't, and who should pay the most. "We may no longer be able to prevent climate change, but we can still prevent catastrophic climate change," they write. "It is really just a question of degree." (New Holland Publishers, $14.95) Nobody likes bad news, and CEOs are no exception. In Denial, Harvard pro- fessor Richard S. Tedlow examines the calamity that can result when top executives ignore the realities of changing markets or faulty prod- ucts. "Denial is the unconscious calculus that if an unpleasant reality were true, it would be too terrible, so therefore it cannot be true," he writes. Thus, CEOs make "mistakes that could and should have been avoided, not just with the benefit of hindsight, but on the basis of information avail- able to decision-makers right then, in real time." Tedlow paints pictures of overconfident or narrow-minded exec- utives, from Henry Ford to American tire makers, who refused to acknowl- edge the evidence in front of them and suffered precipitous declines. More heartening chapters feature sketches of Intel's Andy Grove and Johnson & Johnson's James Burke, who faced hard facts and survived bad times. The whole book is a paean to truth—recognizing it, accepting it, and acting on it even when it's scary. (Portfolio, $26.95) You'd think a book that is essentially a biography of the very concept of business strategy would be stodgy and dull, but that's hardly the case with The Lords of Strategy by Walter Kiechel III. In describing the pio- neers who turned strategy into the tool it is today, Kiechel first follows Bruce Henderson and the Bos- ton Consulting Group as they feel their way through their early days of consulting. Then he considers visionaries like Michael Porter, Bill Bain, and Fred Gluck, making side trips through time to visit thinkers such as Frederick Winslow Taylor, Peter Drucker, and Henry Mintz- berg. Kiechel still seems amazed at how new the field of corporate strategy is, noting that two 1970s- era strategy books devote four or fewer pages to the topic of competition. Kiechel writes, "Today, when almost every executive's resume proclaims the bearer to be 'results- oriented'…it takes a long swim of the imagination to get one's mind back to an era when the notion that 'businesses exist to produce results' was something that had to be called to readers' attention." The topic is never less than fascinating, and Kiechel's sharp, intelligent prose makes the book a joy to read. (Har- vard Business Press, $26.95) As millions of Generation Y employees enter the workforce, managers must understand how these individuals think, interact, and work. In Y-Size Your Business, Jason Ryan Dorsey—a Y guy himself— presents an insider's per- spective on the strengths, weaknesses, charms, and faults of his peers. But his book really shines when he offers step-by-step advice on how attract and keep Gen Y applicants, from phrasing interview questions to designing com- pensation packages. He spends a lot of time on the hiring portion of the process. A candidate who shows up for an interview with beard stubble and an untucked shirt isn't being rude; he just doesn't know how he should present himself, says Dorsey. Give him guidance, then assess how motivated he is to meet your stan- dards. You could end up with a com- mitted, loyal employee who's passion- ate about his job. Dorsey believes that every new generation entering the workforce clashes with the generation already in place. His book aims to ease the way. (Wiley, $24.95) ■ z BizEd MARCH/APRIL 2010 57