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11
Ten Master Builders
0! nmefIcan ~BuUS'Rq
Tell Their Success Stories
Edited
4 Elhan clout
JOSEPH HENRY PRESS
Washington, D.C. ~ 996
~Q
JO
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1
fOSEPlI HENRY PRESS · 2101 Constitution Ave., N.W. · Washington, DC 20418
The Joseph Henry Press, an imprint of the National Academy Press, was created with
the goal of making books on science, technology, and health more widely available to
professionals and the public. Joseph Henry was one of the founders of the National
Academy of Sciences and a leader of early American science.
Library of Congress Cataloging-in-Publication Data
The power of boldness: ten master builders of American industry tell
their success stories / edited by Elkan Blout.
p. cm.
Includes index.
ISBN 0-309-05446-X (hardcover: elk. paper).-ISBN 0-309-05445-1
(paperback: elk. paper)
1. Businessmen United States Biography. 2. Industrialists-
United States Biography. 3. Inventors-United States Biography.
4. Entrepreneurship-United States Case studies. 5. Family-owned
business enterprises United States Case studies. 6. Industries-
United States History. I. Blout, Elkan.
HC102.5.A2P69 1996
33S.092'273- dc20
[B]
96-31131
CIP
The Power of Boldness first appeared in the Spring 1996 issue of Daedalus, the journal
of the American Academy of Arts and Sciences.
Copyright 1996 by the American Academy of Arts and Sciences. All rights reserved.
Printed in the United States of America
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Preface
ONE COLD WINTER MORNING four years ago when T was
talking to myself, the idea for this book was born. The
genesis was really my personal ruminations about the
state of American society both positive and negative. ~ felt that
one of the main contributions our society hac! made to the world
of the twentieth century was its emphasis on ant! rewards for
initiatives ant! inventions. r believed that this subject was not
fully understood ant! appreciated by many elements of our soci-
ety. in acIdition, in 1992 it was not clear that American industry
would be able to resume its leadership in a very competitive
worIc! economy.
Out of these thoughts arose the iclea of a book written by
those people in American industry who hac! made major contri-
butions to the shaping of the industry cluring the last several
decacles. At this point ~ thought about the American Academy of
Arts ant! Sciences and its distinguished and diverse membership,
in both the academic and industrial worIcis, and wonclerec! whether
the Academy might be an appropriate venue and sponsor for
burn an activity. T brought the embryonic suggestion of this
book, which ~ callecl at that time American Industry at tile
Crossroads, to the attention of the Council at its next meeting.
The Acaclemy's Council gave me its enthusiastic support for
pursuing the idea, ant! then ~ seriously began to work on it.
My backgrounc! was in industry, in academic science at Harvarc!
University, and for the last twenty years as an officer and coun-
ci] member of the National Acaclemy of Sciences and the Ameri
III
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IV Preface
can Academy of Arts and Sciences. With this background T hac!
a fairly large acquaintance with the scientific, technological, and
inclustrial leaclers in the Unitec} States. T was heartenec! to pro-
ceec} when ~ broached the idea to a couple of them and received
· . . . .
enthusiastic anc positive responses.
The next step was to approach a sponsor for the financial
support of the book. An application to the Alfred P. Sloan
Foundation resulted in an important, initial grant in May 1993,
anct this was soon follower} by grants from two other private
foundations (the Cabot Family Charitable Trust and a source
that wishes to remain anonymous). This support, for which 1[ am
grateful, allowec! me to firm up my ideas, to recruit authors ancI,
most importantly, an editor.
~ am very pleasecI that almost all the people ~ asked to write
essays responclecI affirmatively and often enthusiastically. In my
discussions with potential authors ~ emphasized that we were
not looking for theories from scholars anti economists, but rather
we wisheci to emphasize stories from people who built America
into what it is today. ~ also emphasized that any essay shouic} be
a personal account anti, ~ hoped, would inclicate the author's
opinion about influential people in his career anct other circum-
stances that moIclec} him into the leaclership position he helcI in
the technological industry the backbone of America's social
and economic position in the world.
As you react the essays in this volume you will note that the
authors have, incleeci, heedecT my suggestions. 'l 'hey are all very
different ancl, for the most part, very personal. Not all the
people who agreec} to contribute to this volume clicI eventually
write an essay. T learner} that there are many reasons for people
not to follow through after initially' agreeing to participate in
such an endeavor. T hope the appearance of this volume may
stimulate a few of our potential "laggarcI" authors so that we
may have the benefit of their insights in the future.
Finally, T would like to express my gratitude to my tireless
anc! thoughtful editor, Upton Bracly. Upton Brady was formerly
the Director of the Atlantic Monthly Press anc} brought to his
position in this endeavor a wealth of knowledge about writing,
about authors, anc! about publishing. All this knowlecige proved
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Preface V
most useful over the past three years, ant! ~ very much appreci-
ate his sensitivity and willingness to undertake difficult tasks as
this book grew. Also, ~ want to specify my loving appreciation
ant! gratitude to my wife, Gail, who sufferer! with me through
some of the crises ~ experienced cluring this project. As usual,
she was a solic! rock of common sense, thoughtfulness, and
support.
~ am very grateful that my friend and colleague, Professor
Alfrec! ChancIler, agreed to write the introductory essay that
puts the subsequent essays into perspective in a masterful man-
ner. These essays appeared earlier this year in Dmdalus, the
Journal of the American Academy of Arts and Sciences, whose
editor, Stephen R. GraubarcI, ant! associate editor, Phyllis S.
Bendell, contributes! a lot to the final product. ~ learner! much
cluring these last four years, ant! ~ hope that this volume may
indeed have an influence on younger Americans as well as those
in our society who are devoted to politics and government.
Elkan Blout
Boston, Massachusetts
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Contents
Alfred D. Chandler, tr.
Introduction: Entrepreneurial Achievements
John F. Taplin
The Education of an Inventor
Ralph Landau
41 Entrepreneurs, Managers, and the Importance of Finance
Elkan Blout
61 PolaroicI: Dreams to Reality
Gordon E. Moore
77 Intel Memories anclthe Microprocessor
George N. FIatsopoulos
103 A Perpetual Idea Machine
William M. FIaney, III
17 The Power of Invention
Thomas D. Cabot
135 A Short History of Cabot Corporation
Robert Galvin
159 Communication: The Lever of Effectiveness and
Productivity
Stephen D. Bechtel, in
169 Reflections on Success
Edward C. Johnson 3d
189 Adventures of a Contrarian
VII
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Ron
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