Dee Hock founded VISA.
If an organization is really nothing but a mental construct, then anything you can conceivably imagine in putting together the relevant materials, which include people and their relationships, is possible. And this construct will either bring out the best in people or the worst in them. In the long run, the command and control model rewards and brings out the worst in people instead of their best.
That is the essence of VISA. It started as 200 owner-member banks and 2 or 3 billion dollars in sales, and thirty years later its volume will be a trillion eight hundred billion dollars. It is cooperatively owned by 20 thousand banks in 240 countries and territories serving over a billion consumers. And its electronic systems clear more financial transactions in a week than the entire US federal reserve system does in a year.
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