higg_14403_ffirs.qxd 2/8/05 5:44 PM Page v Career Imprints Creating Leaders Across an Industry higg_14403_ffirs.qxd 2/8/05 5:44 PM Page v higg_14403_ffirs.qxd 2/8/05 5:44 PM Page i higg_14403_ffirs.qxd 2/8/05 5:44 PM Page ii This book is dedicated to my favorite teachers: my parents, my husband, Michael, and my children, Sarah and Rebecca higg_14403_ffirs.qxd 2/8/05 5:44 PM Page iii Career Imprints higg_14403_ffirs.qxd 2/8/05 5:44 PM Page iv Monica Higgins with a foreword by Ed Schein higg_14403_ffirs.qxd 2/8/05 5:44 PM Page v Career Imprints Creating Leaders Across an Industry higg_14403_ffirs.qxd 2/8/05 5:44 PM Page vi Copyright ©2005 by John Wiley & Sons, Inc. All rights reserved. Published by Jossey-Bass A Wiley Imprint 989 Market Street, San Francisco, CA 94103-1741 www.josseybass.com No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-750-4470, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, e-mail: [email protected]. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss ofprofit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. Jossey-Bass books and products are available through most bookstores. To contact Jossey-Bass directly call our Customer Care Department within the U.S. at 800-956-7739, outside the U.S. at 317-572-3993 or fax 317-572-4002. Jossey-Bass also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. Library of Congress Cataloging-in-Publication Data: Higgins, Monica C., 1964- Career imprinting : creating leaders across an industry / Monica C. Higgins.—1st ed. p. cm. Includes bibliographical references and index. ISBN 0-7879-7751-9 (alk. paper) 1. Leadership. 2. Executives—Training of 3. Career development. 4. Corporate culture. 5. Baxter Healthcare Corp.—Personnel management. I. Title. HD57.7.H528 2005 658.4'092—dc22 2004030568 Printed in the United States of America FIRSTEDITION HB Printing10 9 8 7 6 5 4 3 2 1 higg_14403_ftoc.qxd 2/8/05 6:03 PM Page vii Contents Acknowledgments ix Foreword xv Preface xvii Part One: Setting the Stage 01 1. Introduction: Career Imprints and Senior Executive Mobility 03 2. From Baxter to Biotechnology: The First Wave of Baxter Boys 21 Part Two: The Career Imprinting Process 51 3. Place: Understanding Breeding Grounds for Career Imprinting 53 4. People: Characteristics and Susceptibility to Career Imprinting 85 5. Paths: The Baxter Career Experience and Resulting Career Imprint 107 6. Beyond Baxter: Career Imprints of Merck, Johnson & Johnson, and Abbott 143 vii higg_14403_ftoc.qxd 2/8/05 6:03 PM Page viii viii CONTENTS Part Three: The Consequences of Career Imprints 179 7. The Spawning Effect: Career Imprints and Industry Evolution 181 8. The Legacy of Career Imprints for Organizations 217 9. The Opportunities and Constraints of Career Imprints 253 10. Career Imprints: New Answers, New Questions 275 Appendix A: Research Design and Methods 295 Appendix B: Analyses of Baxter’s Impact on IPO Success 315 Appendix C: Baxter’s Business and Product Timelines 327 Notes 331 References 365 Index 382