Chief executive officer
The chief executive officer or just chief executive, is the most senior corporate, executive, or administrative officer in charge of managing an organization – an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and some government organizations; the CEO of a corporation or company reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc. In the early 21st century, top executives had technical degrees in science, engineering or law; the responsibility of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure.
They can be far-reaching or quite limited and are enshrined in a formal delegation of authority. Responsibilities include being a decision maker on strategy and other key policy issues, leader and executor; the communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees. As a leader of the company, the CEO or MD advises the board of directors, motivates employees, drives change within the organization; as a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, business development, human resources, etc; the CEO of a company is not the owner of the company. In some countries, there is a dual board system with two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes. In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, these two roles will always be held by different people.
This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority; the aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors is equivalent to the supervisory board, while the executive board may be known as the executive committee. In the United States, in business, the executive officers are the top officers of a corporation, the chief executive officer being the best-known type; the definition varies. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, executive officer is any manager, or officer. A CEO has several subordinate executives, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers.
Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if the CEO is the president, is the vice-president. An organization may have more than one vice-president, each tasked with a different area of responsibility; some organizations have subordinate executive officers who have the word chief in their job title, such as chief operating officer, chief financial officer and chief technology officer. The public relations-focused position of chief reputation officer is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, the driving force behind, an organisation culture". In the US, the term chief executive officer is used in business, whereas the term executive director is used in the not-for-profit sector; these terms are mutually exclusive and refer to distinct legal duties and responsibilities.
Implicit in the use of these titles, is that the public not be misled and the general standard regarding their use be applied. In the UK, chief executive and chief executive officer are used in both business and the charitable sector; as of 2013, the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are non-executive roles. In the United Kingdom, the term director is used instead of chief officer". Business publicists since the days of Edward Bernays and his client John D. Rockefeller and more the corporate publicists for Henry Ford, promoted the concept of the "celebrity CEO". Business journalists have adopted this approach, which assumes that the corporate achievements in the arena of manufacturing, wer
Social networking service
A social networking service is an online platform which people use to build social networks or social relations with other people who share similar personal or career interests, backgrounds or real-life connections. The social network is distributed across various computer networks; the social networks are inherently computer networks, linking people and knowledge. Social networking services vary in the number of features, they can incorporate a range of new information and communication tools, operating on desktops and on laptops, on mobile devices such as tablet computers and smartphones. They may feature "web logging" diary entries online. Online community services are sometimes considered social-network services by programmers and users, though in a broader sense, a social-network service provides an individual-centered service whereas online community services are group-centered. Defined as "websites that facilitate the building of a network of contacts in order to exchange various types of content online," social networking sites provide a space for interaction to continue beyond in person interactions.
These computer mediated interactions link members of various networks and may help to both maintain and develop new social ties. Social networking sites allow users to share ideas, digital photos and videos, to inform others about online or real-world activities and events with people in their network. While in-person social networking – such as gathering in a village market to talk about events – has existed since the earliest development of towns, the Web enables people to connect with others who live in different locations, ranging from across a city to across the world. Depending on the social media platform, members may be able to contact any other member. In other cases, members can contact anyone they have a connection to, subsequently anyone that contact has a connection to, so on; the success of social networking services can be seen in their dominance in society today, with Facebook having a massive 2.13 billion active monthly users and an average of 1.4 billion daily active users in 2017.
LinkedIn, a career-oriented social-networking service requires that a member know another member in real life before they contact them online. Some services require members to have a preexisting connection to contact other members; the main types of social networking services contain category places, means to connect with friends, a recommendation system linked to trust. One can categorize social-network services into three types: socializing social network services used for socializing with existing friends online social networks are decentralized and distributed computer networks where users communicate with each other through internet services. Networking social network services used for non-social interpersonal communication social navigation social network services used for helping users to find specific information or resources There have been attempts to standardize these services to avoid the need to duplicate entries of friends and interests. A study reveals that India recorded world's largest growth in terms of social media users in 2013.
A 2013 survey found that 73% of U. S. adults use social-networking sites. There is a variety of social networking services available online. However, most incorporate common features: social networking services are Web 2.0, Internet-based applications user-generated content is the lifeblood of social networking services. Users create service-specific profiles for the site or app that are designed and maintained by the SNS organization social networking services facilitate the development of online social networks by connecting a user's profile with those of other individuals or groups; the variety and evolving range of stand-alone and built-in social networking services in the online space introduces a challenge of definition. Furthermore, the idea that these services are defined by their ability to bring people together and provides too broad a definition; such a broad definition would suggest that the telegraph and telephone were social networking services – not the Internet technologies scholars are intending to describe.
The terminology is unclear, with some referring to social networking services as social media. A recent attempt at providing a clear definition reviewed the prominent literature in the area and identified four commonalities unique to current social networking services: social networking services are interactive Web 2.0 Internet-based applications, user-generated content, such as user-submitted digital photos, text posts, "tagging", online comments, diary-style "web logs", is the lifeblood of the SNS organism, users create service-specific profiles for the site or app that are designed and maintained by the SNS organization, social networking services facilitate the development of social networks online by connecting a user's profile with those of other individuals or groups. The potential for computer networking to facilitate newly improved forms of computer-mediated social interaction was suggested early on. Efforts to support social networks via computer-mediated communication were made in many early online services, including Usenet, ARPANET, LISTSERV, bulletin board services.
Many prototypical features of social networking sites were present in online services such as America Online, CompuServe, ChatNet, The WELL. Early social netw
Kohlberg Kravis Roberts
KKR & Co. Inc. is a global investment firm that manages multiple alternative asset classes, including private equity, infrastructure, real estate, and, through its strategic partners, hedge funds. The firm has completed more than 280 private equity investments in portfolio companies with $545 billion of total enterprise value as of June 30, 2017; as of September 30, 2017, Assets Under Management and Fee Paying Assets Under Management were $153 billion and $114 billion, respectively. The firm was founded in 1976 by Jerome Kohlberg, Jr. and cousins Henry Kravis and George R. Roberts, all of whom had worked together at Bear Stearns, where they completed some of the earliest leveraged buyout transactions. Since its founding, KKR has completed a number of transactions including the 1989 leveraged buyout of RJR Nabisco, the largest buyout in history to that point, as well as the 2007 buyout of TXU, the largest buyout completed to date. KKR has offices in 21 cities in 16 countries across 5 continents.
The firm is headquartered in the Solow Building, but in October 2015, the firm announced its intentions to occupy a newly constructed 30 Hudson Yards. In October 2009, KKR listed shares in the company through KKR & Co. an affiliate that holds 30% of the firm's ownership equity, with the remainder held by the firm's partners. In March 2010, KKR filed to list its shares on the New York Stock Exchange, with trading commencing four months on July 15, 2010. KKR is led by its executive leadership team, Henry Kravis, George R. Roberts, Joe Bae, Scott Nuttall; the firm employs 375 investment professionals and 1,250 total employees as of December 31, 2017. KKR is headquartered in the Solow Building at 9 West 57th Street, New York, with offices in Menlo Park, San Francisco, London, Paris, Luxembourg, Hong Kong, Beijing, Mumbai, Riyadh, Seoul, São Paulo and Sydney. In a 2016 interview with Bloomberg, founder Henry Kravis described KKR in terms of three broad buckets: private markets, public markets, capital markets.
The firm has traditionally specialized in private equity investments, focusing on specific industry sectors where the firm has created dedicated investment groups, including: KKR's business operates in four segments: private markets, public markets, capital markets, principal activities. Through its private markets segment, the firm manages and sponsors a group of private equity funds that invest capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. In addition to traditional private equity funds, KKR sponsors investment funds that invest in growth equity and core equity; the firm manages and sponsors investment funds that invest capital in real assets, such as infrastructure and real estate. KKR has raised 23 private and growth equity funds with $102.9 billion of capital commitments through December 31, 2017. Its private equity investment strategy seeks to engage in management buyouts, build-ups, or other investments with a view to acquire a controlling or significant influence.
The firm has sourced several smaller growth equity investments and expanded the business by launching dedicated growth equity funds. KKR's first dedicated growth equity fund, launched in 2016, invests in the technology and telecommunications sector in the United States, Canada and Israel. In 2016, KKR launched its second dedicated growth equity fund to pursue investments in the health care sector primarily in the United States; as of December 31, 2017, they have received $2.0 billion of capital commitments to these strategies. In 2017, they further expanded on their private equity business by making their first core equity investment, targeting investments that have a longer holding period and a lower risk profile. Energy KKR's energy business aims to deliver current returns to fund investors through distributions generated by producing and selling oil and natural gas reserves and capital appreciation, targets real asset investments across the upstream and midstream segments of the oil and gas industry.
KKR invests in these energy strategies through the KKR Energy Income and Growth Fund. As of December 31, 2017, they have received $2.9 billion of capital commitments to their energy funds and $1.0 billion of capital commitments to this strategy through separately managed accounts. Infrastructure KKR's infrastructure platform seeks to achieve returns including current income through the acquisition and operational improvement of assets important to the functioning of the economy; the platform has made investments in parking, alternative energy, district heating and contracted electricity generation and wastewater, locomotive transportation and telecommunications infrastructure. As of December 31, 2017, KKR had received $4.1 billion of capital commitments to its infrastructure funds and $1.1 billion of capital commitments to this strategy through separately managed accounts and co-investment vehicles. Real Estate KKR's real estate platform targets real estate equity in the United States and Western Europe.
The firm's equity investments include direct investments in real property, special situations transactions and businesses with significant real estate holdings. As of December 31, 2017, KKR has received $3.9 billion of capital commitments through its real estate equity investment funds. KKR's real estate credit platform provides capital solutions for complex real estate transactions with a focus on commercial mortgage-backed
Private equity firm
A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leveraged buyout, venture capital, growth capital. Described as a financial sponsor, each firm will raise funds that will be invested in accordance with one or more specific investment strategies. A private equity firm will raise pools of capital, or private equity funds that supply the equity contributions for these transactions. Private equity firms will receive a periodic management fee as well as a share in the profits earned from each private equity fund managed. Private equity firms, with their investors, will acquire a controlling or substantial minority position in a company and look to maximize the value of that investment. Private equity firms receive a return on their investments through one of the following avenues: an initial public offering — shares of the company are offered to the public providing a partial immediate realization to the financial sponsor as well as a public market into which it can sell additional shares.
Private equity firms characteristically make longer-hold investments in target industry sectors or specific investment areas where they have expertise. Private equity firms and investment funds should not be confused with hedge fund firms which make shorter-term investments in securities and other more liquid assets within an industry sector but with less direct influence or control over the operations of a specific company. Where private equity firms take on operational roles to manage risks and achieve growth through long term investments, hedge funds more act as short-term traders of securities betting on both the up and down sides of a business or of an industry sector's financial health. According to an updated 2008 ranking created by industry magazine Private Equity International, the largest private equity firms include The Carlyle Group, Kohlberg Kravis Roberts, Goldman Sachs Principal Investment Group, The Blackstone Group, Bain Capital, Sycamore Partners and TPG Capital; these firms are direct investors in companies rather than investors in the private equity asset class and for the most part the largest private equity investment firms focused on leveraged buyouts rather than venture capital.
Preqin ltd, an independent data provider, provides a ranking of the 25 largest private equity investment managers. Among the largest firms in that ranking were AlpInvest Partners, Ardian, AIG Investments, Goldman Sachs Private Equity Group, Pantheon Ventures; because private equity firms are continuously in the process of raising and distributing their private equity funds, capital raised can be the easiest to measure. Other metrics can include the total value of companies purchased by a firm or an estimate of the size of a firm's active portfolio plus capital available for new investments; as with any list that focuses on size, the list does not provide any indication as to relative investment performance of these funds or managers. History of private equity and venture capital Leveraged buyout List of private equity firms Management buyout Private equity Private equity fund Private equity – a guide for pension fund trustees. Pensions Investment Research Consultants for the Trades Union Congress.
Krüger Andersen, Thomas. Legal Structure of Private Equity Funds. Private Equity and Hedge Funds 2007. Prowse, Stephen D; the Economics of the Private Equity Market, Federal Reserve Bank of Dallas, 1998
E-commerce is the activity of buying or selling of products on online services or over the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange, inventory management systems, automated data collection systems. Modern electronic commerce uses the World Wide Web for at least one part of the transaction's life cycle although it may use other technologies such as e-mail. Typical e-commerce transactions include the purchase of online books and music purchases, to a less extent, customized/personalized online liquor store inventory services. There are three areas of e-commerce: online retailing, electric markets, online auctions. E-commerce is supported by electronic business. E-commerce businesses may employ some or all of the followings: Online shopping for retail sales direct to consumers via Web sites and mobile apps, conversational commerce via live chat and voice assistants Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales Business-to-business buying and selling.
A timeline for the development of e-commerce: 1971 or 1972: The ARPANET is used to arrange a cannabis sale between students at the Stanford Artificial Intelligence Laboratory and the Massachusetts Institute of Technology described as "the seminal act of e-commerce" in John Markoff's book What the Dormouse Said. 1979: Michael Aldrich demonstrates the first online shopping system. 1981: Thomson Holidays UK is the first business-to-business online shopping system to be installed. 1982: Minitel was introduced nationwide in France by France Télécom and used for online ordering. 1983: California State Assembly holds first hearing on "electronic commerce" in Volcano, California. Testifying are CPUC, MCI Mail, CompuServe, Volcano Telephone, Pacific Telesis. 1984: Gateshead SIS/Tesco is first B2C online shopping system and Mrs Snowball, 72, is the first online home shopper 1984: In April 1984, CompuServe launches the Electronic Mall in the USA and Canada. It is the first comprehensive electronic commerce service.
1989: In May 1989, Sequoia Data Corp. Introduced Compumarket, the first internet based system for e-commerce. Sellers and buyers could post items for sale and buyers could search the database and make purchases with a credit card. 1990: Tim Berners-Lee writes the first web browser, WorldWideWeb, using a NeXT computer. 1992: Book Stacks Unlimited in Cleveland opens a commercial sales website selling books online with credit card processing. 1993: Paget Press releases edition No. 3 of the first app store, The Electronic AppWrapper 1994: Netscape releases the Navigator browser in October under the code name Mozilla. Netscape 1.0 is introduced in late 1994 with SSL encryption. 1994: Ipswitch IMail Server becomes the first software available online for sale and immediate download via a partnership between Ipswitch, Inc. and OpenMarket. 1994: "Ten Summoner's Tales" by Sting becomes the first secure online purchase through NetMarket. 1995: The US National Science Foundation lifts its former strict prohibition of commercial enterprise on the Internet.
1995: Thursday 27 April 1995, the purchase of a book by Paul Stanfield, Product Manager for CompuServe UK, from W H Smith's shop within CompuServe's UK Shopping Centre is the UK's first national online shopping service secure transaction. The shopping service at launch featured W H Smith, Virgin Megastores/Our Price, Great Universal Stores, Dixons Retail, Past Times, PC World and Innovations. 1995: Jeff Bezos launches Amazon.com and the first commercial-free 24-hour, internet-only radio stations, Radio HK and NetRadio start broadcasting. EBay is founded by computer programmer Pierre Omidyar as AuctionWeb. 1996: The use of Excalibur BBS with replicated "Storefronts" was an early implementation of electronic commerce started by a group of SysOps in Australia and replicated to global partner sites. 1998: Electronic postal stamps can be purchased and downloaded for printing from the Web. 1999: Alibaba Group is established in China. Business.com sold for US $7.5 million to eCompanies, purchased in 1997 for US $149,000.
The peer-to-peer filesharing software Napster launches. ATG Stores launches to sell decorative items for the home online. 1999: Global e-commerce reaches $150 billion 2000: The dot-com bust. 2001: Alibaba.com achieved profitability in December 2001. 2002: eBay acquires PayPal for $1.5 billion. Niche retail companies Wayfair and NetShops are founded with the concept of selling products through several targeted domains, rather than a central portal. 2003: Amazon.com posts first yearly profit. 2004: DHgate.com, China's first online b2b transaction platform, is established, forcing other b2b sites to move away from the "yellow pages" model. 2007: Business.com acquired by R. H. Donnelley for $345 million. 2014: US e-commerce and Online Retail sales projected to reach $294 billion, an increase of 12 percent over 2013 and 9% of all retail sales. Alibaba Group has the largest Initial public offering worth $25 billion. 2015: Amazon.com accounts for more than half of all e-commerce
A wiki is a website on which users collaboratively modify content and structure directly from the web browser. In a typical wiki, text is written using a simplified markup language and edited with the help of a rich-text editor. A wiki is run using wiki software, otherwise known as a wiki engine. A wiki engine is a type of content management system, but it differs from most other such systems, including blog software, in that the content is created without any defined owner or leader, wikis have little inherent structure, allowing structure to emerge according to the needs of the users. There are dozens of different wiki engines in use, both standalone and part of other software, such as bug tracking systems; some wiki engines are open source. Some permit control over different functions. Others may permit access without enforcing access control. Other rules may be imposed to organize content; the online encyclopedia project Wikipedia is the most popular wiki-based website, is one of the most viewed sites in the world, having been ranked in the top ten since 2007.
Wikipedia is not a single wiki but rather a collection of hundreds of wikis, with each one pertaining to a specific language. In addition to Wikipedia, there are tens of thousands of other wikis in use, both public and private, including wikis functioning as knowledge management resources, notetaking tools, community websites, intranets; the English-language Wikipedia has the largest collection of articles. Ward Cunningham, the developer of the first wiki software, WikiWikiWeb described wiki as "the simplest online database that could work". "Wiki" is a Hawaiian word meaning "quick". Ward Cunningham and co-author Bo Leuf, in their book The Wiki Way: Quick Collaboration on the Web, described the essence of the Wiki concept as follows: A wiki invites all users—not just experts—to edit any page or to create new pages within the wiki Web site, using only a standard "plain-vanilla" Web browser without any extra add-ons. Wiki promotes meaningful topic associations between different pages by making page link creation intuitively easy and showing whether an intended target page exists or not.
A wiki is not a crafted site created by experts and professional writers, designed for casual visitors. Instead, it seeks to involve the typical visitor/user in an ongoing process of creation and collaboration that changes the website landscape. A wiki enables communities of contributors to write documents collaboratively. All that people require to contribute is a computer, Internet access, a web browser, a basic understanding of a simple markup language. A single page in a wiki website is referred to as a "wiki page", while the entire collection of pages, which are well-interconnected by hyperlinks, is "the wiki". A wiki is a database for creating and searching through information. A wiki allows non-linear, evolving and networked text, while allowing for editor argument and interaction regarding the content and formatting. A defining characteristic of wiki technology is the ease with which pages can be created and updated. There is no review by a moderator or gatekeeper before modifications are accepted and thus lead to changes on the website.
Many wikis are open to alteration by the general public without requiring registration of user accounts. Many edits can be made in real-time and appear instantly online, but this feature facilitates abuse of the system. Private wiki servers require user authentication to edit pages, sometimes to read them. Maged N. Kamel Boulos, Cito Maramba, Steve Wheeler write that the open wikis produce a process of Social Darwinism. "'Unfit' sentences and sections are ruthlessly culled and replaced if they are not considered'fit', which results in the evolution of a higher quality and more relevant page. While such openness may invite'vandalism' and the posting of untrue information, this same openness makes it possible to correct or restore a'quality' wiki page." Some wikis have an Edit button or link directly on the page being viewed, if the user has permission to edit the page. This can lead to a text-based editing page where participants can structure and format wiki pages with a simplified markup language, sometimes known as Wikitext, Wiki markup or Wikicode.
An example of this is the VisualEditor on Wikipedia. WYSIWYG controls do not, always provide
Time is an American weekly news magazine and news website published in New York City. It was founded in 1923 and run by Henry Luce. A European edition is published in London and covers the Middle East, and, since 2003, Latin America. An Asian edition is based in Hong Kong; the South Pacific edition, which covers Australia, New Zealand, the Pacific Islands, is based in Sydney. In December 2008, Time discontinued publishing a Canadian advertiser edition. Time has the world's largest circulation for a weekly news magazine; the print edition has a readership of 26 million. In mid-2012, its circulation was over three million, which had lowered to two million by late 2017. Richard Stengel was the managing editor from May 2006 to October 2013, when he joined the U. S. State Department. Nancy Gibbs was the managing editor from September 2013 until September 2017, she was succeeded by Edward Felsenthal, Time's digital editor. Time magazine was created in 1923 by Briton Hadden and Henry Luce, making it the first weekly news magazine in the United States.
The two had worked together as chairman and managing editor of the Yale Daily News. They first called the proposed magazine Facts, they wanted to emphasize brevity. They changed the name to Time and used the slogan "Take Time–It's Brief". Hadden was liked to tease Luce, he saw Time as important, but fun, which accounted for its heavy coverage of celebrities, the entertainment industry, pop culture—criticized as too light for serious news. It set out to tell the news through people, for many decades, the magazine's cover depicted a single person. More Time has incorporated "People of the Year" issues which grew in popularity over the years. Notable mentions of them were Steve Jobs, etc.. The first issue of Time was published on March 3, 1923, featuring Joseph G. Cannon, the retired Speaker of the House of Representatives, on its cover. 1, including all of the articles and advertisements contained in the original, was included with copies of the February 28, 1938 issue as a commemoration of the magazine's 15th anniversary.
The cover price was 15¢ On Hadden's death in 1929, Luce became the dominant man at Time and a major figure in the history of 20th-century media. According to Time Inc.: The Intimate History of a Publishing Enterprise 1972–2004 by Robert Elson, "Roy Edward Larsen was to play a role second only to Luce's in the development of Time Inc". In his book, The March of Time, 1935–1951, Raymond Fielding noted that Larsen was "originally circulation manager and general manager of Time publisher of Life, for many years president of Time Inc. and in the long history of the corporation the most influential and important figure after Luce". Around the time they were raising $100,000 from wealthy Yale alumni such as Henry P. Davison, partner of J. P. Morgan & Co. publicity man Martin Egan and J. P. Morgan & Co. banker Dwight Morrow, Henry Luce, Briton Hadden hired Larsen in 1922 – although Larsen was a Harvard graduate and Luce and Hadden were Yale graduates. After Hadden died in 1929, Larsen purchased 550 shares of Time Inc. using money he obtained from selling RKO stock which he had inherited from his father, the head of the Benjamin Franklin Keith theatre chain in New England.
However, after Briton Hadden's death, the largest Time, Inc. stockholder was Henry Luce, who ruled the media conglomerate in an autocratic fashion, "at his right hand was Larsen", Time's second-largest stockholder, according to Time Inc.: The Intimate History of a Publishing Enterprise 1923–1941. In 1929, Roy Larsen was named a Time Inc. director and vice president. J. P. Morgan retained a certain control through two directorates and a share of stocks, both over Time and Fortune. Other shareholders were the New York Trust Company; the Time Inc. stock owned by Luce at the time of his death was worth about $109 million, it had been yielding him a yearly dividend of more than $2.4 million, according to Curtis Prendergast's The World of Time Inc.: The Intimate History of a Changing Enterprise 1957–1983. The Larsen family's Time stock was worth around $80 million during the 1960s, Roy Larsen was both a Time Inc. director and the chairman of its executive committee serving as Time's vice chairman of the board until the middle of 1979.
According to the September 10, 1979, issue of The New York Times, "Mr. Larsen was the only employee in the company's history given an exemption from its policy of mandatory retirement at age 65." After Time magazine began publishing its weekly issues in March 1923, Roy Larsen was able to increase its circulation by using U. S. radio and movie theaters around the world. It promoted both Time magazine and U. S. political and corporate interests. According to The March of Time, as early as 1924, Larsen had brought Time into the infant radio business with the broadcast of a 15-minute sustaining quiz show entitled Pop Question which survived until 1925". In 1928, Larsen "undertook the weekly broadcast of a 10-minute programme series of brief news summaries, drawn from current issues of Time magazine, broadcast over 33 stations throughout the United States". Larsen next arranged for a 30-minute radio program, The March of Time, to be broadcast over CBS, beginning on March 6, 1931; each week, the program presented a dramatisation of the week's news for its listeners, thus Time magazine itself was brought "to the attention of millions unaware