by Anne Morgan
In Prescription for Success, author Anne Morgan provides a fascinating and sensitive portrait of Ewing Marion Kauffman, the truly great businessman and humanitarian, whose innovative and long-lasting contributions have benefited thousands.
The book tells the story of Kauffman's life, beginning with his working life as a pharmaceutical salesman whose territory was cut when his commissions exceeded the company president's salary. He quit in 1950 to form Marion Laboratories Inc. and, with relentless hard work and creative entrepreneurial spirit, he built his initial investment of $5,000 into a pharmaceutical powerhouse with approximately $1 billion in sales in 1989, when Marion merged with Merrell Dow. In 1995, Marion Merrell Dow was bought by Hoechst Marion Roussel for $7.1 billion.
Kauffman's accomplishments extended far beyond building a successful company. In 1969, he put up $10 million to buy major league baseball's Kansas City Royals, a team whose unprecedented success as an expansion franchise culminated in the 1985 World Series title. Through the Ewing Marion Kauffman Foundation, Kauffman established a significant and lasting resource to help children develop positively and to encourage entrepreneurship in America.
Although he died in 1993, Ewing Kauffman's values continue to inspire others through the immense legacy he left behind. Kauffman could sum up the keys to his success succinctly:
- treat others as you want to be treated,
- share life's rewards with those who make them possible, and
- give back to society.