Filed under: Accountability, Books in General, From the Editor, General Business, Personal Development, career skills | Tags: Business, Leadership, books, business books, management, Personal Development, career skills
There are times when I sit down to write this blog that I feel like I’m repeating myself. We touch on a number of topics in our little thrice-weekly conversation but often we return to the news of the day as it ties together the economy and the world of business books. The news, largely, hasn’t been good, but out of this cloud has been a shower of great reads.
Historically, the most trying times often produce works of brilliance. In other instances, a book that under normal circumstances would be considered a solid read takes on greater importance in a time of crisis. With articles such as this piece in The Wall Street Journal indicating that we’re far from regaining a firm economic foothold, even executives find themselves with the occasional bout of nerves.
This is one of the reasons we opted to include Scott Eblin’s The Next Level as a bonus summary in our December package. Differentiation and the ability to display confidence in a turbulent time will continue to be assets of ever-increasing value. Eblin’s book refers to the concept of having a Life GPS (Goals Planning System). When the road ahead looks uncertain, it can be a big asset to be able to forge your own path. I found Eblin’s advice to be a good fit for our current economic climate. Companies won’t exactly be dealing out promotions to any manager with a few years of experience. The new path up the ladder will require a bit of ingenuity and Eblin delivers the frank advice to keep executives at any level driving toward the top. If you’re in need of a boost, I’d recommend checking out our summary of his book.
Filed under: Books in General, Economics, Strategic Management | Tags: books, Business, business book, business books, Chaotics, Economics, Geoff Colvin, Strategic Management
Philip Kotler and John A. Caslione, authors of one of our more popular summaries of 2009 Chaotics, must be nodding with grim recognition that we continue to operate in, as they described it, “The Era of Turbulence.” I get the distinct impression that their book will be one of the summaries that continues to attract reader interest well into 2010.
This Reuters article notes President Barack Obama’s warning of the possibility of a “double-dip” recession. The United States is faced with a difficult road if it hopes to both use the power of government to spur economic recovery while also limiting the debt that the government takes on in the process. Obama’s upcoming forum on ways to lower the unemployment rate should give some indication of how feasible it will be to create job growth without increased debt.
The notion of this “double-dip” into recession is something that makes me glad we decided to summarize Geoff Colvin’s The Upside of the Downturn in our December 2009 edition. During our vetting process, we often debate a book’s shelf life because we want to ensure that our readers receive summaries to which they can return again and again. The shelf life of The Upside of the Downturn is a bit of a “good news/bad news” situation. The bad news will be if the U.S. economy does, in fact, take a second dip. The good news is Colvin’s book is an excellent resource for understanding how to navigate the unruly waters of the economic situation and prosper in the end. When we selected this book, I would argue that we chose it because it addressed an immediate need of our subscriber base. Much like Chaotics, our summary of Colvin’s book may prove to be one that sticks around beyond even our own expectations.
You can check out The Upside of the Downturn as well as our other December summaries by visiting us at Summary.com
Filed under: Books in General, Conference/Event | Tags: books, Business, business book, business books, Conference/Event, Marketing
This week is going to be an exciting one here at Soundview. On Thursday, November 19, we’ll be hosting our latest Soundview Live event with author Jim Champy at Noon (EST). As with all of our Soundview Live events, this one is free to our subscribers. The topic of this conversation will be Champy’s recent book Inspire: Why Customers Come Back. If your job description involves interacting with or procuring more customers, this is an event you won’t want to miss.
I get the opportunity to participate in some of the pre-event discussions with the authors. It’s always a joy for me when an author is vocal and passionate about the subject of his or her book. Champy’s enthusiasm for the companies he profiles in Inspire is readily apparent. When we asked him about some of these companies, such as beverage maker Honest Tea or grill maker The Big Green Egg, it was clear that he was impressed by the same attributes that impress the companies’ customers: originality, authenticity and a sense of purpose. It was the last point of the three that made the largest impression on me.
While a large percentage of companies today are encouraged to play up their philanthropy or involvement in a community for purposes of public relations, customers occasionally view these efforts with a degree of apprehension. There tends to be a strange split in public perception. Companies are either “for profit” and not capable of true purpose-based business or they are “non-profits” who do great work for a cause but struggle financially. One of Champy’s insights is that a company can both have a purpose and still be for-profit. I was so struck by his message that I wanted to share his exact words with you.
“Let’s not forget that there are also companies that sit right in-between,” Champy told us. “They’re for-profit, but they are also very noble. One of the most important things in presenting yourself is to maintain a real base of authenticity and have a genuinely high sense of purpose. The Honest Tea example is one where the company is profitable and it makes decisions based on profitability but still is highly respectful of its suppliers. They are highly respectful of the people in India and the Asian subcontinent that grow these teas. It’s highly respectful of everything that it puts on its label in terms of content. You can attach a very high sense of purpose to what is a very simple product or service but you better be true to that sense of purpose!”
Rather eye-opening, isn’t it? Consider this a bit of a preview of what’s to come this Thursday at Noon (EST) when Jim Champy offers insights and takes your questions on the next edition of Soundview Live.
Filed under: Books in General, Environment | Tags: books, Business, business book, career skills, Environment
When we look at the stacks and stacks of submissions to decide which books to summarize, I like to make a few notes if I see trends developing in subject matter. Looking back at the last two years, I see the words “India” and “China” appear numerous times in my hurried script. Developing nations are a point of interest in the business book world because so many executives are looking for the best advice on how to understand, interact and partner with these two rapidly growing economic forces. Take a moment to consider this statistic: one out of every three people in the world is from one of these two nations. Combine the sheer number of people with the rate of industrialization and it’s no wonder that books on the subject can barely hit shelves fast enough.
One of the major areas where India and China are addressed is in titles on climate change. Here’s an article from the L.A. Times that discusses recent United Nations’ efforts to get India to agree to emissions targets. I always find discussions about Asia’s rapid industrialization and its impact on climate to create some uncomfortable moments for those in international politics. For those who point out that Europe and North America industrialized without much regard for the environment, I’d counter by saying these same regions of the globe are now the leaders of the green movement. Perhaps much of that came from a deeper understanding of the true impact of growing one’s economy.
The upside of this careful attention to the planet’s wellbeing is that it has produced some great books. One of the best we’ve seen is The Necessary Revolution by Peter Senge, Sara Schley, Nina Kruschwitz, Bryan Smith and Joe Laur. In a truly collaborative effort, these authors help executives understand the true need for sustainability and how one’s business can contribute to finding solutions to the most pressing environmental problems. It continues to be one of our most popular summaries. In light of the UN’s efforts, perhaps Soundview should consider translating this into Mandarin and Hindi. In a global economy, ecological concerns are something we all share, and so is the work to make it better.
Filed under: Accountability, Hands-On Management, Leadership, Strategic Management | Tags: books, Business, business book, career skills, Leadership, management, military, Strategic Management, strategies
… And so it was settled. At the 11th hour of the 11th day of the 11th month, the combatants entered into armistice and the curtain fell on the “War to End All Wars.”
Of course, we realize that such hopes were not to be. Were that truly the end of the story, the mere mention of places such as Normandy, Guadalcanal, Incheon, Khe Sanh, Baghdad and Kabul would not invoke solemn reflection on the part of Americans. Whether in field or forest, dense jungle or cloudy sky, churning sea or burning sand, American men and women have sweated and sacrificed, with many paying the ultimate price in their tireless defense of liberty and the principles of democracy. Today is a day to remember and give heartfelt thanks, but it should not stand alone on the calendar. As they are ever vigilant in their duty, so should we be fervent in our gratitude.
The fact that veterans populate so many of the boardrooms of American corporations means there is an interesting link between the military and the world of business. While critics debate the validity and tastefulness of comparing dollars and cents to life and death on the battlefield, many authors are willing to undertake the examination. One cannot argue with the military’s track record as it applies to leadership, execution of strategy and inspiring individuals to the highest levels of personal performance.
I receive a fair number of these books as they hit the market and I’m generally impressed with them. Leadership, in particular, is a topic which most executives would do well to look to the military for advice. In addition, I’ve found that the military is a key resource on the subject of accountability. One branch of the Armed Forces in particular seems to draw a large percentage of attention for the effectiveness of its training and strategy execution. If you’re looking for a unique insight from experts in efficiency, any of the above titles is highly recommended.
On this Veterans Day, one which is especially solemn in light of recent events, take a moment and give thanks to the men and women who served. I know I will.
Filed under: Books in General, Economics, Investing | Tags: books, Business, business books, Economics, Financial/Accounting, Investing, mergers
You’ve got to give credit to Warren Buffett for a good turn of phrase. While sourcing this quote is a bit tough, America’s most famous investor is credited with saying, “When people are greedy, be nervous. When people are nervous, be greedy.” Companies that apply this logic often look at unstable economic times as an opportunity to make bold moves.
Today’s headlines indicate that Kraft Foods is one such company looking to make a move. In an acquisition attempt that’s on par with a lunar eclipse in terms of size, the food giant is bidding to take over British confectioner Cadbury. According to a company profile, Kraft is the second largest food company in the world and the largest in the United States. If you didn’t bother to click on the link in the previous sentence, go back and take a look at the brands Kraft controls. Stunning isn’t it? How much of your grocery cart is devoted to Kraft products? If you’re a parent, your purchases of Kraft Macaroni and Cheese, Oreo cookies and Kool-Aid are probably a large factor in why Kraft is able to make such a bold move. I know I’ve done my part with my love of Ritz crackers and Philadelphia cream cheese.
Now Kraft is looking to become parent to yet another organization. However, as press reports indicate, Cadbury is attempting to resist the acquisition. While I’m not certain that the move will affect the taste of the Dairy Milk bar (a Cadbury staple), investors and business analysts are keeping a close eye on the proceedings.
If this deal touches off a resurgence in mergers and acquisitions (also known as M&A, which tend to occur during periods of economic recovery), executives may want to brush up on the basics of M&A. For that, I’d recommend a book we summarized a short time ago whose advice remains timeless. Scott Moeller and Chris Brady authored Intelligent M&A, a title that gives executives a strong survival guide to the intense, high-stakes world of mergers and acquisitions. It’s one of the most clear-cut books on the subject and would serve any executive well prior to being given a role in a company’s M&A efforts.
Filed under: Books in General, Small Business, health care | Tags: books, Business, business book, business books, health care, Small Business
Here at Soundview we’re experts at condensing books that number in the hundreds of pages down to eight essential pages of information. Our purpose in doing this is to provide executives with concentrated knowledge that’s meant to give maximum impact for minimum time invested. Knowing the amount of effort that we put into this work, I can only tremble at the thought of tackling the bill that’s currently sitting on Capitol Hill. The health care reform bill that awaits the House of Representatives is nearly 2,000 pages. While I can’t give you eight compact pages, I’d like to discuss one aspect of the bill that is currently causing debate amongst a key segment of the American economy: small businesses.
Take a look at this article from The Dayton Business Journal for an inside track on the debate. I was glad to see that the reporter indicated there are people who are in favor of the bill, as well as covering the vocal element that are against it. While I don’t state my political opinions in this forum, I bring up the bill and its impact on small businesses because I’m anticipating a bump in business books dealing with health care if the bill is passed.
To date, Soundview has really only featured one title that dealt explicitly with health care. The Innovator’s Prescription by Clayton Christensen, Ph.D. remains a valuable resource for understanding the nature of the American health care system and the history of the system’s development.
We had the opportunity to speak with Christensen at a Soundview Live event in July 2009. Looking back on that conversation, I continue to reflect on Christensen’s argument that the government’s efforts had little to do with the care that patients actually receive. “This is a debate about reforming health insurance, not health care,” he told us at the time. While I think there is truth in his argument, I can’t help but feel that the thousands of small business owners across the U.S. are more concerned with the bill’s potential effect on their bottom lines at present.
I revisit Christensen’s book quite often, particularly when I read stories about the progress of health care reform. Regardless of the size of your company, it wouldn’t hurt to take a second look at our summary of The Innovator’s Prescription. In the event a new system dawns, those who stay informed will likely be the ones to have the smoothest transition.
Filed under: Books in General, From the Editor, General Business, Hands-On Management, Leadership, Strategic Management | Tags: books, Business, business books, Hands-On Management, Leadership, management, Strategic Management
Whether your candidate won or lost yesterday, I think there’s one thing on which we can all agree: it’s nice to know that the political attack ads are over for a little while. I was getting a little tired of hearing two people give me reason after reason why their respective opponent is quite possibly the cause of every major disaster, both man-made and natural.
However, there may have been a few of you out there who got a little extra enjoyment yesterday from pulling a lever, checking a check-box or pushing a button (for as many candidates as there are, there’s also as many ways to vote for them). With that in mind, I’d like to run a little poll of my own. Our November summaries have been with our subscribers for a little while now, and I hope that all non-subscribers at least gave them a look and considered joining us. What I’d like to know is which of the three titles we featured is the one you deem most beneficial to you and your business?
Was it How Did That Happen? Roger Connors and Tom Smith’s look at creating a workable accountability system? Was it Emmanuel Gobillot’s Leadershift, a new look at the changing methods of leadership? Or was it Keith Ferrazzi’s Who’s Got Your Back? an in-depth look at building three key lifeline relationships?
Reply to this post and let me know which was your favorite and why. One thing is for certain, this is one race that I’m glad is too close to call.
Filed under: Brands, General Business, Success | Tags: books, Business, business book, business books, strategies
In some ways, the book publishing business is like any other industry. There are books that occasionally arrive on the market in a serendipitous junction of the state of the economy and shifting tides in management thought. At other times, the market creates a need and publishers respond as quickly as possible to meet customer demands. We saw this occur over the past 12 to 18 months with an increase in titles relating to surviving an economic downturn and crisis management. (For a great example of one of the strongest of these titles, click here).
This same principle applies to every market. I was clicking through the major business headlines today when I came across an interesting note. I certainly hope your company (or for that matter, your home or school) hasn’t been impacted by the H1N1 flu virus. Between the shortage of vaccine deliveries and the increased media coverage of deaths due to the virus, it seems like everyone is a little more sensitive to the presence of microbial invaders on every square inch of our dwellings and places of employment.
For business leaders, a plan for flu prevention makes good sense. Companies continue to push for an increase in health and wellness among their work forces, but they shouldn’t neglect the need to protect against common illnesses that often keep workers bed-bound for days at a time. This could be as simple as a few extra reminders about the importance of frequent hand washing or as full-scale as setting up a station to administer flu shots on a given day.
While it would be reprehensible to suggest that anyone is actually “happy” about this year’s flu epidemic, one company has benefited to an extent. According to this article from Bloomberg, Clorox’s profits rose 23 percent in the past quarter. Sales of the company’s disinfecting wipes have been on the rise as people everywhere attempt to ward off the flu. As I said … timing is everything. Now if you’ll pardon me, my own desk could use a little cleaning. Can never be too careful!
Filed under: Books in General, From the Editor, General Business | Tags: books, Business, business book, business books
I ran across two separate articles today discussing the “price wars” over best-selling books. Major retailers such as Wal-Mart, Amazon.com and Target are in fierce competition to snap up the considerably fewer dollars that shoppers will spend on books in the upcoming holiday season. Here’s one article from The Washington Times discussing the fight by the American Booksellers Association to get the federal government to investigate the deep price cuts that the major retailers are undertaking.
Meanwhile, The Wall Street Journal offers an article that explains the tightly regulated publishing market in Europe. It’s an interesting read when you consider that prices for nearly all new releases are set in advance and discounts are verboten (I couldn’t resist, since Germany is heavily featured in the article).
One point brought up in the Journal article that I wanted to bring to your attention is the lawsuit that occurred in French courts against the French branch of Amazon.com. The suit in question concerned the famous “free shipping” offered by the online retailer on purchases of a certain amount or more. This lawsuit was also referenced in one of the key business books of 2009, FREE: The Future of a Radical Price by Chris Anderson. I’ll have a little more to say about Anderson and this book in the coming weeks, but the fact that both he and the Journal discuss the French Amazon case gives indication about the ongoing fight over pricing in today’s economy.
The entire price war debate reminds us once more of the desperation occurring in retail. I suppose if I can take anything positive away from the situation, it’s that there is still a great demand for books of all genre.
