George Foster

The Konosuke Matsushita Professor of Management at Stanford Graduate School of Business

Schools

Stanford Graduate School of Business

Expertise

Biography

Stanford Graduate School of Business

Research Statement

George Foster’s research and teaching includes entrepreneurship/early-stage companies; financial analysis, especially in commercial disputes; and sports business management. His recent research includes asset creation and destruction, global entrepreneurship, and the role of financial and other systems in the growth and valuation of companies. He also is researching globalization challenges facing both sporting organizations and companies.

Bio

George Foster holds undergraduate and graduate degrees in economics from the University of Sydney and a doctorate from the Graduate School of Business, Stanford University. He taught at the University of Chicago and the Australian Graduate School of Management prior to joining the GSB faculty at Stanford University.

His writings include over 50 research articles, over 100 cases, three monographs, as well as multiple editions of several textbooks. Foster’s early and continuing research was on the role of financial analysis in the valuation and growth of companies. He subsequently broadened his research interests to include management control systems, entrepreneurship/venture capital, and sports business management. His textbook writings include Financial Statement Analysis; Cost Accounting: A Managerial Analysis; and The Business of Sports.

Foster works extensively with the World Economic Forum and is a member and former Chair of their Global Agenda Council on Fostering Entrepreneurship. He led the research team on the 2011 Forum publication on Global Entrepreneurship and the Successful Growth Strategies of Early-Stage Companies. He co-led the research team on the 2013 Forum publication on Entrepreneurial Ecosystems Around the Globe and Company Growth Dynamics.

Foster’s 2010 California Management Review co-authored paper on “Building Sustainable High-Growth Startup Companies” won the 2011 Accenture Award for the article that “has made the most important contribution to improving the practice of management.” He has won multiple other research awards including the AICPA Award for Outstanding Contribution to the Accounting Literature (twice) and the Competitive Manuscript Award of the American Accounting Association (twice). He is a winner of the Distinguished Teaching Award at Stanford Business School and has been awarded honorary doctorates from the University of Ghent (Belgium) and the University of Vaasa (Finland).

He is actively involved in the business community, especially with venture-capital backed startup companies and has served on the Board of Directors of multiple companies. He is also actively involved with sporting organizations around the globe, including directing executive programs for the National Football League (NFL) and the National Basketball Players Association (NBPA).

Academic Degrees

Doctor Honoris Causa, University of Vaasa, 1988
Doctor Honoris Causa, University of Ghent, 1987
PhD, Stanford University, 1975
MEc, University of Sydney, 1972, BEc, 1970 (First Class Honours, University Medal)

Academic Appointments

At Stanford since 1978
Associate Professor, Australian Graduate School of Management, 1977–1978
Assistant Professor, University of Chicago, 1974–1977

Awards and Honors

World Economic Forum/Davos Participant, 2007, 2009, 2010, 2011, 2012
Accenture Award, California Management Review, 2011
Advance 100 Leading Australians Member, 2006
Outstanding Educator Award, American Accounting Association, 1993
Distinguished Teaching Award, MBA, Stanford Business School, 1989

Teaching

Degree Courses

2017-18

GSBGEN 339: Negotiation Dynamics in Sports, Entertainment and Media

Negotiation is a central part of business in the worlds of sports and entertainment. This course will examine negotiation dynamics and key takeaways for general management from multiple different settings where negotiations had an important role...

GSBGEN 360: Sports Business Management

This course will examine the diverse management challenges facing the sports industry. The course will cover issues at the league level, the team level, the athlete/agent level, and the college level. The diverse constituencies with interests in...

STRAMGT 353: Entrepreneurship: Formation of New Ventures

This course is offered for students who at some time may want to undertake an entrepreneurial career by pursuing opportunities leading to partial or full ownership and control of a business. The course deals with case situations from the point of...

2016-17

GSBGEN 360: Sports Business Management

GSBGEN 539: Negotiation Dynamics: Lessons from the Sports and Entertainment Industries

GSBGEN 561: Sports Investment Analysis

Course examines investment and financing issues that face a diverse set of participants in the sports industry (defined very broadly). A key theme is using general financial concepts to better structure decision making in the sports industry....

GSBGEN 562: Sports Marketing

This Sports Marketing course combines (a) a focus on key marketing themes (such as branding, customer attraction/retention, and celebrity power) and (b) an analysis of marketing in diverse areas of the sporting industry: the league level, the...

STRAMGT 353: Entrepreneurship: Formation of New Ventures

Executive Education & Other Non-Degree Programs

Executive Program for Growing Companies Discover business growth strategies and build a stronger company designed to sustain progress, scale management, and facilitate market expansion.

In the Media

Michigan's Jim Harbaugh Blazes Path With Satellite Camps

The New York Times, June 8, 2016

Are startups creating jobs? It's complicated

Tech Republic, December 8, 2015

Scoring After Football

San Francisco Chronicle, April 9, 2006

Front Office People Heading Back to School

USA Today, July 1, 2003

Stanford Tackles the NFL

CNBC Open Exchange video, July 2003

Better Profits Will Always Impress

Australian Business Intelligence, May 10, 2002

The New Netrepreneurs

Bloomberg Businessweek, October 30, 2001

Insights by Stanford Business

videoInside Sports Management

November 14, 2016

How executives make the tough calls in a demanding industry.

writtenHow the NFL Turned the Super Bowl into a Money Machine

February 2, 2016

A sports management expert explains the economic impact of America’s largest sporting event.

writtenGeorge Foster: Are Startups Really Job Engines?

June 9, 2015

Entrepreneurship can be personally rewarding and good for the economy, if we wipe the stardust from our eyes.

writtenDespite Sluggish Economy, a Bullish Outlook on Investing

December 12, 2011

Venture capitalists who spoke at Stanford said available money and billions of internet users mean long-term prospects look good.

writtenGeorge Foster: How Do You Create a Successful Startup Hub?

June 1, 2011

A professor says policymakers should better understand early-stage companies in their own area, rather than try to create another Silicon Valley.

writtenResearchers: What Is the Structure of a Successful Startup?

June 1, 2011

Research shows that more formal management structures help young companies succeed.

writtenSmart Startups Don't Wait to Set Up Accounting Systems

February 1, 2005

A study shows that those with early financial monitoring systems grow faster in revenues and head count.

writtenVC Funding Signals Growth Strategy

May 1, 2002

New research suggests that initially the amount is less important than the fact that venture funds were invested at all.

Videos

Courses Taught

Executive Program for Growing Companies

Stanford Graduate School of Business

Stanford, California, United States

Aug 4

Stanford Executive Program: be a Leader Who Matters

Stanford Graduate School of Business

Stanford, California, United States

Jun 21

Read about executive education

Cases

Zola | E623 George Foster, Sara Rosenthal2017

What's Up Moms | E593 George Foster, Sara Rosenthal2016

Movile (A): Going Global - Is Silicon Valley the Next Stop? | E539A Peter Ziebelman, George Foster, Jessica Morgan2015

Movile (B): Building New Venture Opportunities | E539B George Foster, Peter Ziebelman, Jessica Morgan2015

Thuuz Sports | SPM54 George Foster, Davina Drabkin2015

Billy Beane and the Oakland Athletics (A): Disruptive Innovation in Major League Baseball | SPM53A George Foster, Norm O’Reilly, Ryan Lippert, Carlos Shimizu, Kyle Udseth2014

Billy Beane and the Oakland Athletics (B): Advanced Metrics Beyond Baseball | SPM53B George Foster, Norm O’Reilly, Ryan Lippert, Carlos Shimizu, Kyle Udseth2014

Inspirato | E481 George Foster, Justin Randolph2014

The USGA and the State of Golf in the United States | SPM52 George Foster, David Hoyt2014

Wildfire Interactive Inc. (A) | E506A George Foster, Jason Luther2014

Wildfire Interactive Inc. (B) | E506B George Foster, Jason Luther2014

HBO Boxing Should Julio Cesar Chavez Jr. Fight on Cable or Pay-Per-View? | SPM51 George Foster, David Hoyt2013

Tough Mudder | E464 George Foster, Sara Rosenthal2013

Waypoint Reinventing Single Family Home Rental | E467 George Foster, David Hoyt2013

Del Mar Racetrack, Reinventing the Horse Racing Fan Experience | SPM49 George Foster, David Hoyt2012

Financial Engines | E399 George Foster, Sara Rosenthal2012

FullBloom Baking Company | E410 George Foster, Sara Rosenthal2012

Stonestreet Farms, Making a Business in the \"Sport of Kings\" | SPM50 George Foster, David Hoyt2012

Women's Professional Soccer (A), Building a New League After WUSA Shutdown | E411A George Foster, Arar Han2012

Women's Professional Soccer (B) | E411B George Foster, Arar Han2012

Fortescue Metals Group: Becoming \"The new Force in Iron Ore\" | E384 George Foster, David Hoyt2011

The Rise of the Regional Sports Network Content Ownership in an Ever-Changing World: The YES Network in 2009 | SPM44 George Foster, Norman O'Reilly2011

WineInStyle | E401 George Foster, Arar Han2011

Global Events as Drivers of Growth: The Case of Hockey Canada | SPM42 Darryl Boynton, George Foster, Norman O'Reilly2010

Homeless World Cup: Social Entrepreneurship, Cause Marketing, and a Partnership with Nike | E376 George Foster, Jocelyn Hornblower, Norman O'Reilly2010

Infineon Raceway (Sears Point Raceway): Marketing in the Motor Sports World | SPM41 George Foster, David Hoyt, Norm O'Reilly2010

Not For Profit Private Sector Partnerships in Sport and Physical Activity: ParticipACTION as Champion | SPM43 George Foster, Norm O'Reilly2010

Suntech Power Holdings (A): The Pre-IPO Years | E347A Antonio Davila, George Foster, Ning Jia2010

Suntech Power Holdings (B): The Post-IPO Years | E347B Antonio Davila, George Foster, Ning Jia2010

Anaheim Ducks (A): Three Eras of Professional Hockey in Anaheim | SPM39A Antonio Davila, George Foster, Norm O'Reilly2009

Anaheim Ducks (B): Managing the 2007 Stanley Cup Champions | SPM39B Antonio Davila, George Foster, Norm O'Reilly2009

Baidu.com, Inc., Valuation at IPO | A197 George Foster, Martin Haemmig, Ning Jia, Sara Leslie, Joseph Piotroski, Jennie Tung2009

Crisis Management (A): North American Sporting League Visits Mexico City | SPM40A George Foster2009

Crisis Management (B): North American Sporting League Visits Mexico City | SPM40B George Foster2009

Crisis Management (C): North American Sporting League Visits Mexico City | SPM40C George Foster2009

Crisis Management (D): North American Sporting League Visits Mexico City | SPM40D George Foster2009

Crisis Management (E): North American Sporting League Visits Mexico City | SPM40E George Foster2009

Crisis Management (F): North American Sporting League Visits Mexico City | SPM40F George Foster2009

Focus Media (A): Building a Chinese Media Giant | E330A George Foster, David Hoyt2009

Focus Media (B): A Chinese Shooting Star Crashes | E330B George Foster, David Hoyt2009

Indian Premier League: Bollywood and Entrepreneurship Transform a Sport | SPM38 George Foster, David Hoyt2009

San Diego Padres: PETCO Park as a Catalyst for Urban Redevelopment | SPM37 Antonio Davila, George Foster, David Hoyt2008

Futbol Club Barcelona: Globalization Opportunities | SPM33 Antonio Davila, George Foster, Jaume Llopis2007

International Fight League: Strategy for a Mixed-Martial Arts Start-up | E265 Patrick Arippol, George Foster2007

Red Bull and Auto Racing: Sponsor or Own a Formula One Team? | SPM35 George Foster, David Hoyt2007

Red Bull and the New York MetroStars | SPM36 George Foster, David Hoyt2007

WI Harper - Strategic Crossroads | E257 Patrick Arippol, George Foster, Martin Haemmig2007

Canary Fund and the San Jose Grand Prix (A) | SPM31A George Foster, David Hoyt2006

Canary Fund and the San Jose Grand Prix (B): Results of the First Race | SPM31B George Foster, David Hoyt2006

Citizen Sports Network: Evolving the Product and Business Model | SPM32 George Foster, Mike Harkey, Claire Magat2006

Golden Baseball League (A): From Idea to \"Play Ball\" | SPM29A George Foster, Mike Harkey2006

Golden Baseball League (B): Final Standings, Season One | SPM29B George Foster, Mike Harkey2006

HRJ Capital: From Superbowls to Superfunds | SPM30 George Foster, Mike Harkey2006

Mountain Hardwear (A): The Early Years | E228A George Foster, Joshua Spitzer2006

Mountain Hardwear (B): Financing Growth and Strategic Opportunities | E228B George Foster, Joshua Spitzer2006

Mountain Hardwear (C): Working with Athletes | E228C George Foster, Joshua Spitzer2006

SportsBusiness Journal and Sports Business Daily: From Startup to Industry Bible | SPM28 Victoria Chang, George Foster2006

Starbucks: A Global Work-in-Progress | IB74 Antonio Davila, George Foster, Corinne Putt, Anne Somjen2006

Launching the New National Rugby League Season: Looking for Sunlight Through Dark Clouds | SPM18 George Foster2005

NFL Club Business Management: Assessing Priority Differences Across Three Clubs | SPM19 George Foster, Jessamy Tang2005

Colorado Crush And The Arena Football League | SPM7 George Foster, Alicia Seiger2004

Exclusive Resorts | E178 George Foster, Eric Liu, Emily Melton, Maria Taft2004

Jeremy Bloom: \"Show Us The Money\" | SPM12 George Foster, David Hoyt2004

Marquette And Bucknell Wrestling Programs: Were They Pinned By Title IX? | SPM14 George Foster, David Hoyt,2004

Notre Dame: Stay Independent Or Join A Conference? | SPM15 George Foster, David Hoyt2004

The Bank of the West Classic and IMG | SPM13 George Foster, David Hoyt2004

Visa Sponsorship Marketing | SPM5 Victoria Chang, George Foster2004

Cochlear And Its Global Marketing Challenges | E146 George Foster, Alicia Seiger2003

Dallas Cowboys: Financing a New Stadium | SPM6 George Foster, David Hoyt2003

FOX Sports and News Corp.'s Sports Empire | SPM10 Victoria Chang, George Foster2003

Honda Performance Development: CART vs. IRL - Who Has The Inside Track? | SPM8 Tom Covington, George Foster, David Hoyt, Jake Moskowitz2003

Nike Corporation and Athlete Endorsements | SPM3 George Foster, David Hoyt2003

WebEx Communications (A): Navigating Through A Turbulent Market | SM121A George Foster, Erin Yurday2003

Beatnik: Start-up Business Model Change | E115 George Foster, Roderick Morris2002

Computershare: Going Global Through Acquisitions | IB28 Victoria Chang, George Foster2002

GenPharm International | IB38 George Foster, Andrea Higuera2002

Liverpool Football Club: Valuing A Sports Team | SPM2 George Foster, Susan Mackenzie2002

ResMed, Inc.: Promoting Better Sleep Around the World | SM97 Antonio Davila, George Foster, Ning Jia2002

Southwest Sports Group: A Multiple Sports Franchise Owner and its Broadcast Rights Decision | SPM1 George Foster, Callie Neuman2002

webMethods, Inc.: Global Sales Strategy | IB43 George Foster, Susan Mackenzie2002

Yankee Entertainment & Sports (YES) Network LLC: Team-Affiliated Television Networks | SPM4 George Foster, Amy Wustefeld2002

Check Point Software Technologies: The Continual Building of a Global Technology Company | IB26 Victoria Chang, Antonio Davila, George Foster2001

E.piphany: International Strategy | E99 Victoria Chang, George Foster2001

eBay's Globalization Strategy | SM89 Antonio Davila, Janet Feldstein, George Foster2001

ECnet: Becoming a Global Player | E98 Victoria Chang, George Foster2001

netCustomer: A Global Start-up | EC26 Geoffrey Adamson, Antonio Davila, George Foster2001

NetLogic Microsystems | E94 Christopher Flanagan, George Foster2001