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The Art of Corporate Success: The Story of Schlumberger by Ken Auletta

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7

TAKING THE LONG VIEW

Like his predecessors, Riboud wants people at Schlumberger to have a feeling of independence. Day-to-day decisions are left to those in the field. Riboud’s job, as he sees it, is primarily to think five, ten, twenty years ahead, and to set the basic direction of the company. This is why he claims to be unconcerned by what he thinks is the momentary slump in Schlumberger’s stock. It explains his behavior at a February 17, 1982, meeting of Schlumberger’s finance committee. Edward D. Kline, a partner in Forstmann-Leff Associates, sat near the head of the huge felt-topped table in the conference room at the New York headquarters and explained to the committee how his company managed $40 million of Schlumberger’s $300 million ...

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