Myles Mace was born on October 10, 1911 in Montevideo, Minnesota. From an early age, he showed a keen interest in business and economics, which would later shape his career path. Growing up in the small town of Montevideo, Mace was surrounded by the local businesses and saw firsthand the challenges and opportunities that came with entrepreneurship.
After completing his undergraduate studies, Mace pursued a doctoral degree at Harvard Business School. It was during this time that he began to focus his research on the governance of small corporations, a topic that would become central to his work in the future. His studies and research at Harvard laid the foundation for his groundbreaking work in the field of entrepreneurship.
Myles Mace was a trailblazer in the field of entrepreneurship, being one of the founders of the field as we know it today. In 1971, he published his revolutionary book "Directors: Myth and Reality," which was based on in-depth interviews with over 100 chief executive officers and board members. This book challenged conventional wisdom about corporate governance and provided new insights into the role of directors in shaping the success of a company.
One of Mace's most notable contributions was his course, The Management of New Enterprises, which he created just after World War II. This course was one of the first to consider the formation and management of businesses from an academic perspective, laying the groundwork for future generations of entrepreneurs and business leaders.
Outside of his work, Myles Mace valued his family above all else. He was married to Adelaide Rowley and the couple had two sons together. Despite his demanding career, Mace always made time for his family and shared his passion for business and entrepreneurship with them.
Myles Mace's impact on the field of entrepreneurship is undeniable. His pioneering work in corporate governance and his innovative approach to teaching entrepreneurship have left a lasting legacy that continues to influence the business world today. Many successful business leaders, such as Ratan Tata, have been influenced by Mace's teachings and have gone on to shape their own successful careers.
Throughout his life, Myles Mace remained committed to pushing the boundaries of what was possible in the world of business. His legacy serves as a reminder that with vision, determination, and a pioneering spirit, anything is possible.