The Making of Harcourt General: A History of Growth Through Diversification 1922-1992 [Hardcover]

Bettye H. Pruitt (Author)

Book Description

Publication Date: June 1, 1994

This book traces the company's seventy-year evolution from a small family-owned company operating drive-in theaters into a multi-billion dollar corporation deriving 12 per cent of its revenues from movie theaters, 50 per cent from its ownership of the Neiman Marcus Group, and the remaining 38 per cent from the businesses of its diversified publishing subsidiary, Harcourt Brace Jovanovich (HBJ). The author focuses on two themes that have had a strong influence on the company's success. The first of these is the issue of succession and professionalization in a family firm: Harcourt General is one of the rare companies in which the founding family has both maintained a controlling interest and sustained active participation of family members in corporate management into the third generation. The second theme relates to Harcourt General's strategy of diversification by acquisition, particularly during the mergers-and-acquisitions period of the late 1980s and early 1990s, when the company struggled to expand into the three major businesses mentioned above.

Editorial Reviews

From Library Journal

The Winthrop Group was commissioned by General Cinema to write its history in 1988. Pruitt, who is vice president of the Winthrop Group, worked on the project for six years. Her book traces the development of General Cinema from its beginnings in the theater and drive-in arena to its emergence as a major firm in the early 1990s with the acquisition of Harcourt Brace Jovanovich. Although Pruitt describes the leadership roles played by senior managers, she never loses sight of her primary subject-the company itself. She successfully describes and analyzes the larger trends that affected the company during the 70-year period of study. The end result is a well-organized, uncompromising corporate history. Highly recommended for academic libraries with large business collections.
Mark McCullough, Heterick Lib., Ohio Northern Univ., Ada
Copyright 1994 Reed Business Information, Inc.

From Booklist

The Winthrop Group is a consulting firm specializing in historical research and the preparation of commemorative corporate histories. Pruitt, a Winthrop vice president, has compiled this account of the growth and development of what started as a family-run chain of movie theaters, later evolved into the General Cinema Corporation, and finally became Harcourt General. Pruitt's well-written story is an illustrative case history in corporate diversification. Harcourt General's corporate family tree grew to include such well-known but disparate branches as Neiman Marcus, Sunkist, and the former Harcourt Brace Jovanovich. Pruitt effectively suggests the tensions that result as a family enterprise grows and turns public and those that arise as varying corporate cultures must blend. The company's somewhat schizophrenic name is but one example of this clash and shows how companies must redefine themselves in order to survive. In fact, after the period covered by Pruitt, Harcourt General sold off its theater business--that part from which the company originally grew. David Rouse

See all Editorial Reviews

Product Details

• Hardcover: 336 pages
• Publisher: Harvard Business Press; 1St Edition edition (June 1, 1994)
• Language: English
• ISBN-10: 0875845096
• ISBN-13: 978-0875845098
• Product Dimensions: 9.4 x 6.2 x 1.4 inches
• Shipping Weight: 1.6 pounds
• Amazon Best Sellers Rank: #2,035,908 in Books (See Top 100 in Books)

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