The employee-ownership philosophy and entrepreneurial spirit Dr. Beyster established at SAIC have been key factors in the steady growth and success of the company. When the SAIC Board of Directors considered a fitting tribute to honor Dr. Beyster's contributions to the company and his 35 years of visionary leadership, they immediately thought of his longstanding commitment to entrepreneurial employee ownership. It was decided and approved by the board to honor Beyster by making donations in his name to both the Beyster Institute and the Foundation for Enterprise Development.
Dr. Beyster's commitment to employee ownership and his passion for entrepreneurship led him to establish the Foundation for Enterprise Development (FED) in 1986. The foundation helps governments and private organizations use entrepreneurial employee ownership as an effective social and economic strategy. As part of the foundation, the non-profit Beyster Institute for Entrepreneurial Employee Ownership was launched in 2002. The Beyster Institute has been incorporated into the University of California, San Diego (UCSD), Rady School of Management. As part of the UCSD Rady School, the institute promotes global entrepreneurship, employee ownership, and economic development through consulting, training and international projects.
In 2007, the FED published, The SAIC Solution: How We Built An $8 Billion Employee-Owned Technology Company, by Dr. Beyster and co-author, Peter Economy. In this book, Dr. Beyster provides an inside look at how SAIC became one of the most successful research and technology companies in the world.
Dr. Beyster was selected for induction as a lifetime member of the Horatio Alger Association of Distinguished Americans. The Horatio Alger Award was established in 1947 to encourage young Americans to recognize that success can be achieved through hard work and perseverance.