Dee Hock: Difference between revisions
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{{Infobox person | {{Infobox person | ||
| name = Dee Hock | | name = Dee Hock | ||
| image = | | image = Dee_Hock_(2018).jpg | ||
| caption = Dee Hock in 2018 | |||
| birth_name=Dee Ward Hock | | birth_name=Dee Ward Hock | ||
| birth_date = March 21, 1929 | | birth_date = March 21, 1929 | ||
| Line 17: | Line 18: | ||
== Early life and education == | == Early life and education == | ||
Hock was born in [[North Ogden, Utah]], in 1929 to a [[Mormon]] family.<ref name="nyt" /><ref name="Hock bio">{{cite web |last1=Hock |first1=Dee |title=Biography of Dee W Hock |url=https://www.deewhock.com/biography/ |website=Dee W Hock |access-date=April 8, 2024 |archive-url=https://web.archive.org/web/20240408031632/https://www.deewhock.com/biography/ |archive-date=April 8, 2024 |url-status=live}}</ref><ref name="Meadows 1999">{{cite web |last=Meadows |first=Donella |title=It's Everywhere You Want To Be |website=Grist |date=December 29, 1999 |url=https://grist.org/technology/to2/ |access-date=April 7, 2024}}</ref> His father, Alma, was a utility | Hock was born in [[North Ogden, Utah]], in 1929 to a [[Mormon]] family.<ref name="nyt" /><ref name="Hock bio">{{cite web |last1=Hock |first1=Dee |title=Biography of Dee W Hock |url=https://www.deewhock.com/biography/ |website=Dee W Hock |access-date=April 8, 2024 |archive-url=https://web.archive.org/web/20240408031632/https://www.deewhock.com/biography/ |archive-date=April 8, 2024 |url-status=live}}</ref><ref name="Meadows 1999">{{cite web |last=Meadows |first=Donella |title=It's Everywhere You Want To Be |website=Grist |date=December 29, 1999 |url=https://grist.org/technology/to2/ |access-date=April 7, 2024}}</ref> His father, Alma, was a utility [[lineworker]], and his mother, Cecil, was a homemaker. He participated in high school [[Competitive debating|debate]] and received a scholarship to [[Weber State University]] where he graduated with a two-year degree in 1949.<ref name="nyt" /><ref name="Hock bio"/><ref name="Hagerty 2022">{{Cite news |last=Hagerty |first=James R. |date=July 28, 2022 |title=Dee Hock, Who Made Visa a Global Payments Leader, Has Died at Age 93 |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/dee-hock-who-made-visa-a-global-payments-leader-has-died-at-age-93-11659016837 |access-date=September 2, 2022 |issn=0099-9660}}</ref> | ||
== Career == | == Career == | ||
After graduation, Hock began working various jobs in the financial services industry. He served as the manager of two Pacific Finance branches, an assistant manager of public relations and advertising for Pacific Finance, a general manager of Columbia Investment Company, and then as a supervisor at [[CIT Group|CIT Financial]]. In 1966, he was hired by [[Rainier Bancorp|National Bank of Commerce]], a local bank in [[Seattle, Washington | After graduation, Hock began working various jobs in the financial services industry. He served as the manager of two Pacific Finance branches, an assistant manager of public relations and advertising for Pacific Finance, a general manager of Columbia Investment Company, and then as a supervisor at [[CIT Group|CIT Financial]]. In 1966, he was hired by [[Rainier Bancorp|National Bank of Commerce]], a local bank in [[Seattle]], Washington. In 1967, he began managing the bank's [[credit card]] brand, [[BankAmericard]], which was being licensed from [[Bank of America]].<ref name="nyt" /><ref name="Hock bio"/> Through a series of unlikely accidents, Hock helped invent and became chief executive of the credit system that became [[Visa Inc]]. Early on, he convinced Bank of America to give up ownership and control of their BankAmericard credit card licensing program, forming a new company, National BankAmerica, that was owned by its member banks. The name was changed to Visa in 1976.<ref name="Cleveland">Cleveland, Harlan. "A Philosophical Wallop." The Futurist 34.4 (2000): 56-7. ProQuest. Web. March 1, 2014.</ref><ref name="Waldrop">{{cite web | author= Waldrop, M. Mitchell | title= The Trillion-Dollar Vision of Dee Hock | url=http://www.fastcompany.com/magazine/05/deehock.html?page=0%2C5 | publisher=[[Fast Company magazine]] | date=October 1, 1996 | pages= 75–85 | accessdate=April 30, 2008}}</ref><ref>{{cite news |last1=Sparks |first1=Evan |title=Nine Young Bankers Who Changed America: Dee Hock |url=https://bankingjournal.aba.com/2017/06/nine-young-bankers-who-changed-america-dee-hock/ |access-date=September 23, 2022 |work=ABA Banking Journal |publisher=American Bankers Association |date=June 26, 2017 |location=Washington, DC}}</ref> | ||
In May 1984, Hock resigned his management role with Visa,<ref name=Cleveland/> retiring to spend almost ten years in relative isolation working a {{convert|200|acre|km2|sing=on}} ranch on the Pacific coast to the west of [[Silicon Valley]] in [[Pescadero, California]]. He was inducted into Junior Achievement's [[U.S. Business Hall of Fame]] in 1991, and the [[Money (magazine)|''Money'' magazine]] hall of fame in 1992. | In May 1984, Hock resigned his management role with Visa,<ref name=Cleveland/> retiring to spend almost ten years in relative isolation working a {{convert|200|acre|km2|sing=on}} ranch on the Pacific coast to the west of [[Silicon Valley]] in [[Pescadero, California]]. He was inducted into Junior Achievement's [[U.S. Business Hall of Fame]] in 1991, and the [[Money (magazine)|''Money'' magazine]] hall of fame in 1992. | ||
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Hock had built Visa as a deliberately decentralized organization.<ref name=Cleveland/> In March 1993, Hock gave a dinner speech at the [[Santa Fe Institute]] where, based on his experiences founding and operating Visa International, he described systems that are both chaotic and ordered, using the term "chaordic" from the words "chaos" and "order". | Hock had built Visa as a deliberately decentralized organization.<ref name=Cleveland/> In March 1993, Hock gave a dinner speech at the [[Santa Fe Institute]] where, based on his experiences founding and operating Visa International, he described systems that are both chaotic and ordered, using the term "chaordic" from the words "chaos" and "order". | ||
In February 1994, Hock accepted a grant from the [[Joyce Foundation]] for his travel expenses to study the possibilities of implementing chaordic organizations.<ref name=Waldrop/> The non-profit Alliance for Community Liberty was formed in 1994 by Hock to develop, disseminate and implement these new concepts of organization, and was renamed The Chaordic Alliance in 1996.<ref name=Cleveland/>In spring 2001, The Chaordic Commons, a 501(c)3 nonprofit organization, was formed to supersede the Chaordic Alliance.<ref>{{cite web | title=A Brief History of The Chaordic Alliance from 1993 to 2001 and Chaordic Commons from 2001 | url=http://www.chaordic.org/history.html | publisher=Chaordic Commons | date=December 1, 2005 | accessdate=April 30, 2008}}</ref> | In February 1994, Hock accepted a grant from the [[Joyce Foundation]] for his travel expenses to study the possibilities of implementing chaordic organizations.<ref name=Waldrop/> The non-profit Alliance for Community Liberty was formed in 1994 by Hock to develop, disseminate and implement these new concepts of organization, and was renamed The Chaordic Alliance in 1996.<ref name=Cleveland/> In spring 2001, The Chaordic Commons, a 501(c)3 nonprofit organization, was formed to supersede the Chaordic Alliance.<ref>{{cite web | title=A Brief History of The Chaordic Alliance from 1993 to 2001 and Chaordic Commons from 2001 | url=http://www.chaordic.org/history.html | publisher=Chaordic Commons | date=December 1, 2005 | accessdate=April 30, 2008}}</ref> | ||
==Impact on organization development== | ==Impact on organization development== | ||
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== Personal life == | == Personal life == | ||
Hock married his high school girlfriend, Ferol Delors Cragun, when he was 20. She died in 2018. Hock died on July 16, 2022, at the age of 93.<ref name="nyt">{{cite web|title=Dee Hock, Credit Card Visionary, Is Dead at 93|url=https://www.nytimes.com/2022/08/05/business/dee-hock-dead.html|date=August 7, 2022|access-date=August 8, 2022|last=Sandomir|first=Richard|publisher=The New York Times}}</ref> At the time of his death, he was survived by two children, seven grandchildren, and seven great grandchildren.<ref | Hock married his high school girlfriend, Ferol Delors Cragun, when he was 20. She died in 2018. Hock died on July 16, 2022, at the age of 93.<ref name="nyt">{{cite web|title=Dee Hock, Credit Card Visionary, Is Dead at 93|url=https://www.nytimes.com/2022/08/05/business/dee-hock-dead.html|date=August 7, 2022|access-date=August 8, 2022|last=Sandomir|first=Richard|publisher=The New York Times}}</ref> At the time of his death, he was survived by two children, seven grandchildren, and seven great grandchildren.<ref name="Hagerty 2022"/> | ||
== References == | == References == | ||
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[[Category:1929 births]] | [[Category:1929 births]] | ||
[[Category:2022 deaths]] | [[Category:2022 deaths]] | ||
[[Category:American | [[Category:American businesspeople in finance]] | ||
[[Category:People from North Ogden, Utah]] | [[Category:People from North Ogden, Utah]] | ||
[[Category:Cooperative organizers]] | [[Category:Cooperative organizers]] | ||
Latest revision as of 11:13, 25 October 2025
Template:Short description Template:Use mdy dates Script error: No such module "infobox".Script error: No such module "Check for unknown parameters".Script error: No such module "Check for clobbered parameters".Template:Wikidata image Dee Ward Hock (March 21, 1929 – July 16, 2022) was the founder and CEO of the Visa credit card association.
Early life and education
Hock was born in North Ogden, Utah, in 1929 to a Mormon family.[1][2][3] His father, Alma, was a utility lineworker, and his mother, Cecil, was a homemaker. He participated in high school debate and received a scholarship to Weber State University where he graduated with a two-year degree in 1949.[1][2][4]
Career
After graduation, Hock began working various jobs in the financial services industry. He served as the manager of two Pacific Finance branches, an assistant manager of public relations and advertising for Pacific Finance, a general manager of Columbia Investment Company, and then as a supervisor at CIT Financial. In 1966, he was hired by National Bank of Commerce, a local bank in Seattle, Washington. In 1967, he began managing the bank's credit card brand, BankAmericard, which was being licensed from Bank of America.[1][2] Through a series of unlikely accidents, Hock helped invent and became chief executive of the credit system that became Visa Inc. Early on, he convinced Bank of America to give up ownership and control of their BankAmericard credit card licensing program, forming a new company, National BankAmerica, that was owned by its member banks. The name was changed to Visa in 1976.[5][6][7]
In May 1984, Hock resigned his management role with Visa,[5] retiring to spend almost ten years in relative isolation working a Script error: No such module "convert". ranch on the Pacific coast to the west of Silicon Valley in Pescadero, California. He was inducted into Junior Achievement's U.S. Business Hall of Fame in 1991, and the Money magazine hall of fame in 1992.
In his 1991 Business Hall of Fame acceptance speech, Hock explained:
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Through the years, I have greatly feared and sought to keep at bay the four beasts that inevitably devour their keeper – Ego, Envy, Avarice, and Ambition. In 1984, I severed all connections with business for a life of isolation and anonymity, convinced I was making a great bargain by trading money for time, position for liberty, and ego for contentment – that the beasts were securely caged.
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Hock had built Visa as a deliberately decentralized organization.[5] In March 1993, Hock gave a dinner speech at the Santa Fe Institute where, based on his experiences founding and operating Visa International, he described systems that are both chaotic and ordered, using the term "chaordic" from the words "chaos" and "order".
In February 1994, Hock accepted a grant from the Joyce Foundation for his travel expenses to study the possibilities of implementing chaordic organizations.[6] The non-profit Alliance for Community Liberty was formed in 1994 by Hock to develop, disseminate and implement these new concepts of organization, and was renamed The Chaordic Alliance in 1996.[5] In spring 2001, The Chaordic Commons, a 501(c)3 nonprofit organization, was formed to supersede the Chaordic Alliance.[8]
Impact on organization development
In addition to his career in the financial industry, Hock has been active in developing new models of social and business organization. He has been particularly interested in forms of organization that are neither rigidly controlled nor anarchic, a hybrid form he terms chaordic.
Hock has authored a book on the subject, Birth of the Chaordic Age (1999) with an edition named One from Many: VISA and the Rise of Chaordic Organization (2005) which includes two new chapters.[9]
Personal life
Hock married his high school girlfriend, Ferol Delors Cragun, when he was 20. She died in 2018. Hock died on July 16, 2022, at the age of 93.[1] At the time of his death, he was survived by two children, seven grandchildren, and seven great grandchildren.[4]
References
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- ↑ a b c d Cleveland, Harlan. "A Philosophical Wallop." The Futurist 34.4 (2000): 56-7. ProQuest. Web. March 1, 2014.
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