Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

Send feedback

What is it?
Screenshots, up to 3 (optional)
or paste one with Ctrl+V

We use your email only to reply to you.

The 3G Way: An introduction to the managemen

The 3G Way: An introduction to the management style of the trio who's taken over some of the most important icons of American capitalism

Francisco Souza Homem de Mello
2014
T3 229 pages · about 3h 49m to read Open Librarygoodreads

The Lemann-Telles-Sicupira management system, written for operators.

Summary

Homem de Mello, a Brazilian writer, produced a short summary of the management system used by Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira at 3G Capital and at the companies they control.

The system's elements are stated directly: recruit young high-potential people, frequently from outside the industry, and promote them faster than any conventional career path allows; set targets that are deliberately beyond what appears achievable; tie a large share of compensation to those targets and offer partner-level equity to the top performers; measure everything and publish internal rankings; apply zero-based budgeting, in which every cost is justified from nothing each year rather than adjusted from the prior year; maintain absolute cost discipline including at executive level, which is symbolic as much as financial; and apply the same system unchanged to each acquired company.

The book is short and functions as a summary rather than a history or an analysis. Correa's Dream Big covers the same subject at length with reporting and access, and is the fuller treatment.

The reference has not verified the specific claims and figures in this account. The system's costs, which have become visible at Kraft Heinz and at Anheuser-Busch InBev in reduced brand investment, innovation and retention, are not examined here. Read it as a compressed statement of the method and seek the assessment of its results elsewhere.

Key takeaways 7

  1. Zero-based budgeting requires every cost to be justified from nothing annually rather than adjusted from the previous year's level.
  2. Recruiting young high-potential people from outside the industry and promoting them rapidly produces management with no attachment to existing practice.
  3. Targets set deliberately beyond what appears achievable, combined with large variable compensation, are the mechanism the system operates on.
  4. Publishing internal performance rankings makes relative position visible and generates the pressure the model depends on.
  5. Partner-level equity for top performers converts key employees into owners and is what retains the people the system selects.
  6. Cost discipline at executive level is symbolic as well as financial, since it establishes that no expense is exempt.
  7. The same system is applied unchanged to each acquired company, which treats it as a method rather than as an adaptation to circumstances.

Who should read it

Readers wanting a compressed statement of the 3G management system, with Correa's Dream Big as the fuller and better-reported treatment.

Who recommended it 1 · 1 direct

Similar books 6

Chosen by shared topics, the entries that hold them, and the people who recommended both.

Bryce G. Hoffman · 2012

The 2006-2010 turnaround told with close management access.

Recommended by: Mohnish Pabrai

Jack Welch, John A. Byrne · 2001

Running General Electric from 1981 to 2001, as told on retiring.

Alan C. Greenberg · 1996

Greenberg's own memos; the cost culture Bear ran on before it broke.

Recommended by: Mohnish Pabrai, Jeff Bezos

Where it sits in the reference 4

Companies
Geographies
Business themes
Business themes

Topics

Business and ManagementLeadership