BBC: Never stop asking questions
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Category Archives: Business & Marketing
How flat is your organization?
This interview with Cristobal Conde, the president and CEO of SunGard, is a good example of why I’ll be willing to pay for the New York Times, when that day comes (couple of weeks?). The Q & A covers several very basic and interesting areas and I encourage you to read the entire piece. Here are a few bits to whet your appetite:
“You have to work on the structure of collaboration. How do people get recognized? How do you establish a meritocracy in a highly dispersed environment?
The answer is to allow employees to develop a name for themselves that is irrespective of their organizational ranking or where they sit in the org chart. And it actually is not a question about monetary incentives. They do it because recognition from their peers is, I think, an extremely strong motivating factor, and something that is broadly unused in modern management.
On leadership:
“I think too many bosses think that their job is to be the leader, and I don’t. By creating an atmosphere of collaboration, the people who are consistently right get a huge following, and their work product is talked about by people they’ve never met. It’s fascinating.
On micromanagement:
“If you start micromanaging people, then the very best ones leave. If the very best people leave, then the people you’ve got left actually require more micromanagement. Eventually, they get chased away, and then you’ve got to invest in a whole apparatus of micromanagement. Pretty soon, you’re running a police state. So micromanagement doesn’t scale because it spirals down, and you end up with below-average employees in terms of motivation and ability.
Instead, the trick is to get truly world-class people working directly for you so you don’t have to spend a lot of time managing them. I think there’s very little value I can add to my direct reports. So I try to spend time with people two and three levels below because I think I can add value to them.
PowerPoint:
“I actively despise how people use PowerPoint as a crutch. I think PowerPoint can be a way to cover up sloppy thinking, which makes it hard to differentiate between good ideas and bad ideas. I would much rather have somebody write something longhand, send it in ahead of the meeting and then assume everybody’s read it, and then you start talking, and let them defend it.
Advice to young people:
“My advice to young people is always, along the way, have a sales job. You could be selling sweaters. You could be selling ice cream on the street. It doesn’t matter. Selling something to somebody who doesn’t want to buy it is a lifelong skill. I can tell when somebody comes in for an interview and they’ve never had any responsibility for sales.”
Print this interview and slide it under the bosses door. Wear gloves and don’t get caught.
Poll: 2 in 5 Americans read paper daily
One of the findings of an Adweek Media/Harris Poll taken in December 2009. Only 43% of US adults say they read a daily newspaper – either online or in print – almost every day, while 72% read one at least once a week and 81% read one at least once a month. The study found that one in ten adults say they never read a daily newspaper.
“Daily newspaper readership skews heavily toward the older age groups. Almost two-thirds of those ages 55+ (64%) say they still read a daily newspaper almost every day. Younger Americans read newspapers less often. Just more than two in five of those ages 45-54 (44%) read a paper almost every day as do 36% of those ages 35-44. However, less than one-fourth of those ages 18-34 (23%) say they read a newspaper almost every day and 17% in this age group say they never read a daily newspaper.
Though many newspapers are exploring the possibility of charging a monthly fee to read a daily newspaper’s content online, the poll results suggest this tactic is unlikely to work. Three-fourths of online adults (77%) say they would not be willing to pay anything to read a newspaper’s content online. Among the minority willing to pay, one in five online adults (19%) would only pay between $1 and $10 a month for this online content and only 5% would pay more than $10 a month.
The average monthly amount consumers are prepared to pay ranges from $3 in the US and Australia to $7 in Italy.
I want to be depressed by these findings but must confess that I do not read a hold-it-in-your-hands newspaper and I’ve never been better informed. I spend the first two hours of every days gobbling up news from dozens of sources. And much (most?) of the real news comes from newspapers that are bleeding red ink.
What will I be reading if/when those traditional sources are no long? I have no idea.
Bruce Sterling: State of the World 2010
Every year the Well (one of the early, pre-web, online communities) invites Bruce Sterling to chat about the state of the world. This year, he paints a grim picture of where the “present” is heading:
“Various entities and institutions have scrambled together safety pins and gobs of glue to rig the global economy so that it appears to be ambling along, but isn’t it a great conceptual Jenga, ready to fall if you move the wrong block? What kind of shuffling and reshuffling can we expect, if there’s a global economic meltdown? And has the collapse already happened – are we like the coyote, run far beyond the edge of the cliff, waiting for gravity’s effect?”
On Google News and Twitter:
“I’m looking over my Twitter stream here, because it seems a more useful barometer to me now than Google News. Google News definitely has that rickety Jenga feeling that JonL is talking about. Whenever you see something on Google News nowadays, you have to wonder: “who owns this so-called news organization now? What’s left of them financially? Is there even a shred of objective fact in this?”
Sivad is “Davis” spelled backward
Growing up in Kennett, Missouri, in the 50’s and 60’s, we got our TV from Memphis, 100 miles to the south. But we were blessed with a great selection of movies. One station, WHBQ, billed their offerings, “Million Dollar Movies.” And there was a great sub-set of horror movies (Dracula, Wolfman, Frankenstein, etc) presented as Fantastic Features. The Monster of Ceremonies was SIVAD, the only vampire with a hush-puppy southern accent.
How big was Sivad? He drew 30,000 fans to the Mid-South Fairgrounds, breaking the Beatles attendance record). You can learn more about Sivad and alter ego Watson Davis here.
Much thanks to Charles Jolliff for tipping us to this pop-culture flash-back.
Is this the future of advertising?
First, I am assuming this was a paid commercial. And I’m assuming Domino’s Pizza paid a premium. The ultimate “live read.” As I watched, I realized I was paying very close attention, trying to figure out what I was seeing.
Whose idea was this? The show’s writers? You damn well better have good writers if you’re going to try this. Was it Domino’s idea? Their ad agency?
My next thought was, this is a one trick pony. You can’t do this every night. Or even every week. But then it hit me, you wouldn’t need to. This segment had 100% of my attention. I clearly got the message that Domino’s Pizza was trying to make their product a lot better. I don’t need to see some mindless 30 second spot over and over.
This… whatever it is… didn’t insult my intelligence. It played to it in a tongue-in-cheek manner ideally suited to those who watch The Colbert Report. I have no trouble imagining an advertiser paying big bucks for this.
Mel Karmazin interview: “Fucking with the magic”
Mel Karmazin is the CEO of Sirius Satellite Radio. Before that he was head of CBS Radio. For most of his career he has been known as a “Wall Street darling” for his ability to drive up the price of his various companies’ stock. Don Imus frequently referred to him as the Zen Master. Let’s just say he knows a lot about radio and advertising. I was struck by his description of advertising and frank assessment that Google was “fucking with the magic.”
“I loved the model that I had then. At that point I had… I was the CEO of CBS and I had a model where you buy a commercial… if you’re an advertiser you buy a commercial in the Super Bowl and, at that time, you paid two-and-a-half million dollars for a spot and had no idea if it worked. I mean, you had no idea if it sold product… did any good… I loved that model! That was a great model! And why …if I can get away with that model… if I’m in the business where I can sell advertising that way, why wouldn’t I want to do it?
No return on investment. And you know how everybody looks for return on investment? We had a a business model that didn’t worry about return on investment and then here comes Google. They screwed it up. They went to all these advertisers and said, we’ll let you know exactly what it is.”
Oooh. Reminds me of the old saw, “I know that only half of my advertising works, I just don’t know which half.” The full interview is worth a watch and confirmed my feeling that a real sea change (in advertising) is taking place.
Monsanto Twitter silence on AP story
I just spotted (in Google Reader) an Associated Press story about Monsanto with the headline: Monsanto seed business role revealed. Here’s the first graph:
ST. LOUIS — Confidential contracts detailing Monsanto Co.’s business practices reveal how the world’s biggest seed developer is squeezing competitors, controlling smaller seed companies and protecting its dominance over the multibillion-dollar market for genetically altered crops, an Associated Press investigation has found.
I was curious what the twitterverse was saying about the story and found an endless stream of links and comments. No surprise there.
I’ve been following one of Monsanto’s Twitter feeds (@monsantoco) for a while and dropped into see how they were responding to the story and the Twitter buzz.
Nothing since Friday morning at 9:10. Hard to draw any conclusions without know more but with almost 3,000 followers, why wouldn’t you use Twitter to “engage in the conversation.” If not now, when? If not Twitter, how? If you’re going to use social media to tell your story, you gotta be there if/when the story gets unpleasant or be conspicuous by your absence.
Depending on the serious of the AP investigation, there are probably lots of emails and phone calls and maybe even a few meetings, to decide if/how/where to respond to the story.
If anyone on Learfield’s senior management team are reading this, take a few minutes at your next meeting to talk about how you would respond to a big, negative story about our company. I really think we could engage quickly without making our lawyers all jittery and nauseous.
Disclosure: Monsanto is an advertiser on at least one of the radio networks owned by the company I work for.
UPDATE: Monsanto did get a response up last night. And linked to it from Twitter. Probably hard for a company that large to move any faster.
Matt Taibbi: Obama’s Big Sellout
“Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers “at the expense of hardworking Americans.” Obama may not have run to the left of Samuel Gompers or Cesar Chavez, but it’s not like you saw him on the campaign trail flanked by bankers from Citigroup and Goldman Sachs. What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing. Then he got elected.”
Oh dear. Who’s my favorite political reporter? Who’s the guy I always turn to for the hard, profane truth? That’s right, Matt Taibbi. The graf above is the lead to his latest piece in Rolling Stone. And this, sums it all up:
“What we do know is that Barack Obama pulled a bait-and-switch on us. If it were any other politician, we wouldn’t be surprised. Maybe it’s our fault, for thinking he was different.”
“The Bad Managment Stimulus”
The always brilliant Scott Adams on entrepreneurship:
“The Dilbert Principle observes that in the modern economy, the least capable people are promoted to management because companies need their smartest people to do the useful work. It’s hard to design software, but relatively easy to run staff meetings. This creates a situation where you have more geniuses reporting to morons than at any time in history. In that sort of environment you’d expect the geniuses to be looking for a way out, even if Plan B has a low chance of success.
Big companies with bad managers are the ideal breeding ground for entrepreneurs. Employees are exposed to a wide variety of business disciplines, and can avail themselves of excellent company-paid training and outside education. When you add broad skill development to the inevitability of eventually getting a moron for a boss, thanks to frequent internal reorganizations, it’s no wonder that big companies spray entrepreneurs into the environment like the fountains at Bellagio.”
Mr. Adams’ book, The Dilbert Principle is the last management book I read and gave me the courage to begin planning my escape from management.