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September 29, 2007

links for 2007-09-29

Filed under: Uncategorized — 800-CEO-READ @ 8:17 am
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  • The Shock Doctrine >> New York Times Book Review | Bleakonomics
    ” ‘The Shock Doctrine’ is Klein’s ambitious look at the economic history of the last 50 years and the rise of free-market fundamentalism around the world.”
    (tags: economics global businessbooks)
  • Supercapitalism >> Portfolio Magazine | Hellbent on Capitalism
    As Reich admits, this unfettered capitalism is very good at what it tries to do: mainly, earn profits for shareholders and offer a wide array of affordable products to consumers. It is lousy at everything else…
    (tags: businessbooks economics global)
  • Age of Turbulence >> Portfolio Magazine | His Fault
    For far too long, Greenspan denied the evidence before his eyes, insisting there was neither a real estate bubble nor any sign of problems emerging in the financial sector [ link].
    (tags: businessbooks biography economics global)
  • Options >> Portfolio Magazine | Fake Steve, Fake Novel
    Options is a confection—small and sweet, but not exactly nutritious.
    (tags: fiction businessbooks humor)
  • More Books to Read >> Portfolio Magazine | Also Worth Read…
    Shorts on Are The Rich Necessary?, A Nation of Counterfeiters, Cool It, The Economic Naturalist, The Siege of Mecca, Evil Inc., and Flawless.
    (tags: businessbooks economics industry global history)
  • The Age of Turbulence >> Fortune | Greenspan speaks
    The book’s second half, which he describes as “the foundation on which to erect the conceptual framework for understanding the new economy,” is as compelling as it sounds [link].
    (tags: biography businessbooks economics global)
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September 28, 2007

Financial Times Asks "What Is Best Business Book of All Time?"

Filed under: General Business,Publishing Industry — Todd Sattersten @ 2:53 pm
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In conjunction with their Business Book of The Year Award, The Financial Times is asking the question: “What is the best book of all time?” They solicited suggestions from a wide variety of business executives, including GE’s Jeff Immelt and Ebay’s Meg Whitman. The editorial staff then created a short list using the same criterea as their yearly awards. The finalists are:

  • Barbarians at the Gate, by Bryan Burrough and John Helyar (1990)
  • The Effective Executive, by Peter Drucker (1966)
  • Good to Great, by Jim Collins (2001)
  • The Innovator’s Dilemma, by Clay Christensen (1997)
  • The Wealth of Nations, by Adam Smith (1776)

You can cast your vote and leave comments if you think they missed the mark with their selections.

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Jack Covert Selects – Better

Filed under: Jack Covert Selects — 800-CEO-READ @ 8:08 am
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Better: A Surgeon’s Notes on Performance by Atul Gawande, Metropolitan Books, 288p, $24.00, Hardcover, April 2007, ISBN 9780805082111
Innovation research shows that almost every major innovation has an origin outside the industry it impacts. Amazon.com did not originate from a savvy retailer, just as the iPod was not developed by the consumer electronics industry. Looking for inspiration outside your normal avenues can be helpful and, in this recommendation, we take you outside the realm of business books.
Atul Gawande is a staff writer for The New Yorker and his first book, Complications, was a New York Times bestseller and a finalist for the National Book Award. He writes about the difficulties facing medicine, and he has a great vantage point as a general surgeon at Brigham and Women’s Hospital in Boston and assistant professor at Harvard Medical School. His new book, Better, is about the quest to improve the status quo, and in medicine, this translates directly into saved lives. Gawande suggests there are three aspects to the struggle to improve: diligence, doing it right and ingenuity.
His survey starts with one of the biggest killers in hospitals: bacterial infection. Over two million people every year acquire infections while in the care of a hospital, and 90,000 die as a result. The single best way to reduce the spread of infection is medical professionals washing their hands. With nurses seeing 20 patients an hour, it is nearly impractical to stop for a 60 second scrubbing before each patient. Gawande’s hospital was able to improve compliance from 40% to 70% with the introduction of an alcohol-based gel. But here’s the kicker: there was no change in the infection rates. A hospital in Pittsburgh struggling with the same problem created an initiative modeled after a Vietnamese anti-starvation program that used positive deviance: get the successful minority to tell the majority how to change. With the implementation of this approach, the hospital eliminated–completely–wound infections, and the program is now being tried in other hospitals.
While the backdrop from Better is the field of medicine, the continuous improvement message fits whether you are building pick-up trucks or servicing computer networks. Business people can learn from this book about health care, just as the Pittsburgh hospital learned from the Vietnamese village, and be reminded that getting better is a universal quest.

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September 27, 2007

Jack Covert Selects – Fired Up or Burned Out

Filed under: Jack Covert Selects — 800-CEO-READ @ 4:11 pm
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Fired Up or Burned Out: How to Reignite Your Team’s Passion, Creativity, and Productivity
By: Michael Lee Stallard, with Carolyn Dewing-Hommes and Jason Pankau, Thomas Nelson, 230 pages, $22.99 Hardcover, July 2007. ISBN 9780785223580
Great leadership is something we think is easy to recognize, but it can be a hard thing to define. In Fired Up or Burned Out, Michael Lee Stallard does just that by explaining the type of culture great leaders create, and also the traits leaders use to create it. As Stallard himself states, we only remain motivated and engaged at work for so long using traditional motivational speeches and incentives. He suggests altering the workplace itself, creating an organization connecting employees with each other and the mission, values, and outlook of the organization. Given a goal and a vision, the workforce of such an organization will organically inspire and engage itself. We like to think that we have created this kind of company in a third floor office in Milwaukee’s Historic Third Ward, and that this has had everything to do with our success.
Explaining early on why it’s so important to create a workplace culture that engages workers (and where they engage each other), he states:

The Gallup Organization conservatively estimates the annual economic cost to the American economy from the approximately 22 million American workers who are extremely negative or “actively disengaged” to be between $250 and $300 billion. This figure doesn’t include the cost for employees who are disengaged but have not spiraled down to the level of active disengagement.

Beyond that sobering fact, government and private research organizations are expecting a shortage of between 10 to 35 million workers in the American market lasting through the first half of the century. Stallard’s 230 pages pack plenty of inspiration to lead the kind of organization that can attract and retain workers in this difficult environment, and he discusses the practical skills necessary to do it. The book is broken up into four parts. In the first three sections, Stallard discusses how to engage workers in the workplace, how to create a great overall work culture, and the traits that make a great leader. In the fourth part, “Learn from Twenty Great Leaders Over Twenty Days,” he shares twenty stories of great leadership, along with quick applications of each one. His stories aren’t confined to this part of the book, though. He illustrates his ideas throughout the book using a wealth of historical examples and with stories from sports and the business world. If you feel like you or your organization is burned out and needs to be reignited, pick up this title.

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Microfinance Update

Filed under: Social Responsibilty — dylan @ 11:28 am
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I wrote last Friday about microcredit and a book entitled A Billion Bootstraps. When I got home that night a funny thing happened. I turned on the television, flipped it to channel 10, and there was microcredit pioneer and Nobel Prize Winner Muhammad Yunus on NOW’s “Enterprising Ideas” series. I didn’t know of the controversy in the microfinance community over what some would call “predatory microlenders”, but it’s there. The focus of the controversy is on Compartamos, a lender in Mexico. Started as a non-profit, it turned to investors to help it grow and became a commercial bank. They now have a larger reach into poor communities, but have been drawing criticism from Yunus and others for setting interest rates as high as 100% on small loans. There is a big disagreement here. From the transcript:

[Carlos] DANEL: If we think that capital markets are the devil, we’re never going to solve poverty
[Maria] HINOJOSA: The entrepreneurs behind Compartamos will tell you that it’s the lure of profits that will motivate people to lend to the poor.
DANEL: We have to stop looking at this as a zero-sum game and look at how we can bridge business and social objectives together in a successful way.
HINOJOSA: Simply put, the business objective is to make money. But how much profit is too much? That’s the question being asked by the company’s high profile critics, including Muhammed Yunus, the Nobel Prize-winner who pioneered the idea of modern microcredit thirty years ago.
YUNUS: When you are maximizing your profit-you are not looking at whether the poor people are getting out of poverty. You are always looking at your bottom line, how much money we are making out of this business with the poor people

It seems to me that the big difference is in who owns the bank. Maria Hinojosa sums it up.

Muhammad Yunus’ Grameen bank is also a for-profit business. But there’s a big difference. Any profits there go directly back to the borrowers, who are also owners of the company. Not so at Compartamos.
[...]
Recently, microlending as an investment idea has gained a lot of momentum. A small but growing number of international banks and investment firms are realizing that microcredit can also be good business. Citigroup, Morgan Stanley, Deutsche Bank, TIAA-CREF all have backed multi-million dollar microcredit deals…

If done right, these banks could positively affect millions of lives. If you’re interested in this topic, you can learn more about it, or watch Friday’s program online, here. Other resources would be Yunus’ own book, and for an economist’s view on ending poverty, take a look at Jeffrey Sachs’ aptly named and extremely popular book from 2005, The End of Poverty . Sachs also has another title being published by Penguin early next year called Common Wealth that looks like it should be fascinating.

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September 26, 2007

Leadership Challenge Interview with Jim Kouzes

Filed under: Audio — Todd Sattersten @ 1:34 pm
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In this interview, I talk with Jim Kouzes, co-author of The Leadership Challenge.

The book is a classic and was the first to look at leadership from a research-based perspective. I could have talked with Jim for three hours. If you are not familiar with this title, listen to Jim talk about the difference between management and leadership, his thoughts on how leaders made, and why he named the book Leadership Challenge.

[podcast]http://www.800ceoread.com/blog/audio/leadershipchallengeinterview.mp3[/podcast]

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Greenspan Starts Strong

Filed under: General Business,History and Biographies,Publishing Industry — Todd Sattersten @ 12:40 pm
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Publisher’s Lunch reports today that Alan Greenspan’s The Age of Turbulence had sales of 128,000 copies in its opening week, according to Neilsen’s Bookscan.

That is a great start for the book, but people will be watching closely to see if the book can keeping that momentum into the next three or four weeks.

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Not related to business books…

Filed under: Misc. — Kate @ 9:35 am
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[If you're in the Milwaukee area, keep reading.]
If you’ve been with us for awhile, you may know we’re based in Milwaukee. And, our sister company is the independent Harry W. Schwartz Bookshops.
The folks at Schwartz are always bringing in provocative authors for speeches and book signings. This October 12-14 is their annual Readers’ Retreat. It’s a relaxing weekend spent on Lake Geneva meeting other readers, discovering new books and hearing from a number of authors including:

  • Kim Edwards, author of the bestselling novel, The Memory Keeper’s Daughter
  • Kathleen Flinn, author of The Sharper Your Knife, The Less You Cry, the true story of her pursuit of a life-long dream: to earn a diploma from the famed Le Cordon Bleu cooking school in Paris
  • Meg Mullins, author of the novel The Rug Merchant, a story of finding love in New York told through the eyes of an Iranian exile
  • Wisconsin author Mary Relindes Ellis whose novel The Turtle Warrior centers on a Wisconsin family caught in battlefields both physical and emotional
  • Ron McLarty, author of Traveler.

You can find out more here. And while you’re there, check out their other events. They’re bringing in Alan Alda, Lake Wobegon’s creator, Garrison Keillor, singer Amy Grant, Nick Hornby and more. There’s a great line-up and we’d love to see you there.

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links for 2007-09-26

Filed under: Uncategorized — 800-CEO-READ @ 8:19 am
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  • The Billionaire Who Wasn’t>>The Wall Street Journal | Business Success Is Not Duty Free
    Chuck Feeney is a hard man to categorize. He made billions as a co-founder of Duty Free Shoppers, the world-wide retail chain familiar to almost anyone who has passed through an international airport, yet when he is traveling, he flies economy class. He i
    (tags: businessbooks biography)
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September 25, 2007

Financial Times and Goldman Sachs announce shortlist for Business Book of the Year Award

Filed under: Book Reviews — katie @ 11:32 am
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This morning Financial Times and Goldman Sachs revealed the semifinalist titles in the running of being named their Business Book of the Year. Judges will determine the final winner on October 25.
The list is as follows:

  • Zoom
  • by Iain Carson and Vijay V Vaitheeswaran

  • The Last Tycoons
  • by William D Cohan

  • The Age of Turbulence
  • by Alan Greenspan

  • Immigrants
  • by Philippe Legrain

  • The Black Swan
  • by Nassim Nicholas Taleb

  • Wikinomics
  • by Don Tapscott and Anthony D Williams

Good luck!

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