“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?
- Dee Hock – Former CEO and Founder of Visa
One From Many: Visa and the Rise of Chaordic Organization
One From Many: Visa and the Rise of Chaordic Organization
The management philosophy behind Visa has made it one of the few 20th century´s most consistently successful companies, by building a global consortium that links more than 21,000 financial institutions, processes more than $2 trillion of purchases each year (about 60% of all credit card transactions), and integrates 1.3 billion cardholders, which rounds out to more than 1 in every 6 people in the world (Hamel, 2007, pg. 23-24). Even few well-informed business leaders recognize Visa as the largest business organization in the world… and the reasons for Visa´s relative invisibility relate directly to its success (Senge, P. on Hock, 2005, pg. Foreword). Therefore, what are the management practices, theories, methodologies, and applicability of this very successful organization?
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