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June 30, 2008

Evolutionary Economics

Filed under: Finance and Economics — Kate @ 4:06 pm
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Found this today. A Fast Company article on evolutionary economics from Michael Shermer, author of The Mind of the Market.

If the fruit of the Economic Stimulus Act of 2008 hasn’t landed in your bank account yet, it’s likely just a matter of time before you’re throwing $600 on the bed just to see what it feels like to roll around in that much cash. The government, of course, hopes that we won’t just pay bills or sock it away in savings but that we’ll circulate the money back into the marketplace and thereby jump-start our sagging economy. As I write, the government is also engaged in another kind of largesse, literally printing money and offering it to banks and government-backed mortgage players Fannie Mae and Freddie Mac to stave off the continuing ripple effects of the credit crisis. Leaving aside whether those moves will reverse the current economic slump, the question is: Why do we think they might?
The answer may be found in a new science called evolutionary economics. This discipline looks at the economy as an ever-changing, complex adaptive system — not unlike that of biological evolution. Immune systems, language, the law, and the Internet are all examples of other complex adaptive systems. They learn and grow from the bottom up. Individual elements (organisms in evolution, people in economics) interact and adapt to changing conditions. These systems are so intricate that they often look as though they’ve been designed from the top down. So our minds naturally infer the existence of an intelligent designer for complex life and a government designer for complex economies. This is why we instinctually look to Fed chairman Ben Bernanke, Treasury secretary Henry Paulson, or Congress and the President to fix the economy.
But there’s more to it than that…

Keep reading on evolutionary economics over at Fast Company.

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June 27, 2008

Consumer or Consumed? BusinessWeek reviews two books about brands

Filed under: Book Reviews,Marketing — 800-CEO-READ @ 11:27 am
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Yesterday Dylan did a nice job of summing up the latest reviews and discussions about business books in business magazines. Sometimes it’s hard for us to keep up with everything, so here’s one from a few weeks ago.
In the June 19 issue of BusinessWeek, writer Susan Berfield reviewed two books that “explore the question of whether brands control us, or vice versa”: Buying In: The Secret Dialogue Between What We Buy and Who We Are by Rob Walker, and Obsessive Branding Disorder: The Illusion of Business and the Business of Illusion by Lucas Conley. (Image source=BusinessWeek.com)

Here’s a snippet from the article:

My girl’s request [for a Go-Gurt in her lunch]–fleeting, trivial, and unrepeated–nonetheless says something profound about our high-impact, omni-consuming culture. But what? Is she–are we all–just easy marks? Or is there a more complex dynamic between the marketer and the mark? Rob Walker, the author of Buying In: The Secret Dialogue Between What We Buy and Who We Are, argues for the latter view. Walker, who writes the “Consumed” column in The New York Times Magazine, offers a sophisticated and sometimes lighthearted take on how consumers interact with brands, defining and controlling them as companies struggle to keep up. By contrast, Lucas Conley, a contributing writer for Fast Company, takes a grimmer view. His book, Obsessive Branding Disorder: The Illusion of Business and The Business of Illusion, is a bleak assessment of how defenseless we are against ad creep, as he calls it.

Check out the BusinessWeek article to see which perspective Berfield tends to agree with more.

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Friday Tidbits

Filed under: Friday Links — delicious @ 11:11 am
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Here’s an offering of some random, yet interesting things from the Internet this week!

Book Review: The Office from Hell Cure by Jeffrey A. Landers. For everyone that works from home, here’s a brighter side of the mundane atmosphere at your personal HQ. Order it here!

Here’s just a little more about the book I blogged about: First Stop in the New World by David Lida. It’s about Mexico and how it may be a huge player in the next century – order it HERE

I also came across an interesting book from Walter Nugent called Habits of Empire: A History of American Expansion – in it it tells how America got to be a ‘great empire’ by going into our different wars, treaties and negotiations with other countries. A must read for any historical enthusiast.

By the way, did you hear about Salman Rushdie getting knighted by Queen Elizabeth II ? Says Rushdie : “At this stage, you know, it’s certainly not a day to talk about controversy, it’s a day for myself and my family to celebrate this.”

Here’s an audio concerning Thomas Jefferson’s Library that’s finally complete. Turns out the Library of Congress has managed to get together with a bunch of rare-book dealers and get the missing library to its full glory. Check it Out HERE!

One more thing – Albert Camus book Notebooks (1951-1959) is currently available. In it, he goes into both the good (his Nobel Prize) and the bad (his depression). “The most interesting aspect of the “Notebooks” is not politics but its personal substratum.” Order the book HERE

Have a terrific weekend, everyone!

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June 26, 2008

Magazines Reviewing Books

Filed under: Uncategorized — dylan @ 3:15 pm
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There’s another round of book reviews from some of the big business magazines. My personal favorite is from Business Week and Christopher Farrell. In an article entitled “The Squeeze on the American Worker,” Farrell takes a look at two books with similar themes, Peter Gosselin’s High Wire and Steven Greenhouse’s The Big Squeeze. This paragraph sums the books’ importance nicely:

Gosselin and Greenhouse are award-winning journalists with the Los Angeles Times and The New York Times, respectively. Not surprisingly, both books are well-written with clear themes and telling anecdotes. Neither book is a revelation, of course, since much has already been said in recent years about America’s shredded social safety net, middle-class families’ ever-more-vexing economic circumstances, and the distressing working conditions faced by low-income employees. Instead, what makes the two volumes timely and important is their powerful, authoritative evidence that a lot of people are rightly anxious about their economic prospects–worries exacerbated by an election season and ongoing economic woes.

Next, we have Roger Lowenstein’s review of Steve Miller’s The Turnaround Kid for Conde Naste Portfolio. Oddly enough, there’s a line about the author in this review that relates to the theme of the books in Inc.:

Though a down-to-earth guy–one who never outgrew his lumberjack plaids–Miller cannot help sounding preachy when he talks about the great things he did for America by driving factory wages down near the level of those of Wal-Mart employees.

That sounds like quite a knock, but Lowenstein does go on to state that “Still, this is a highly engrossing memoir” and that “No one executive can fix all of corporate America’s problems, but Miller came close.” Kate wrote a post about the book upon its release. You can read that here.
The Economist has a tale of two Arvinds–Panagariya and Subramanian–and their respective books, India: The Emerging Giant and India’s Turn. I don’t believe India’s Turn is available yet in the U.S., but according to all reviews I’ve read, we’re not missing much (Subramanian is known to be a great thinker, but every review I’ve read bemoans the poor editing). India: The Emerging Giant, on the other hand, looks fascinating. From The Economist:

Mr Panagariya’s book is the capstone of a career, a sustained work of scholarship. It demands a lot of its readers, and amply repays the investment. The author’s father told him: “Take your time, but write a definite book on India.” The son did not disappoint.

Finally, we have Inc. Magazine‘s skimmer’s guide to the latest business books, this month featuring Tuned In by Craig Stull, Phil Myers, and David Meerman Scott.
Happy Reading!

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Globality

Filed under: Uncategorized — delicious @ 3:13 pm
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Hopefully, some of you remember my blog listing about Payback: Reaping the Rewards of Innovation. Well, Harold L. Sirkin, along with 2 other of his colleagues from the Boston Consulting Group have put there minds together in the new book: Globality: Competing with Everyone from Everywhere for Everything. In the book, Sirkin, Bhattacharya and Hemerling talk about countries such as China, India and Brazil and how they are changing the face of business on a global scale in various ways.

Here’s how the book starts:

“Globality is not a new and different term for globalization, it’s the name for a new and different global reality in which we’ll all be competing with everyone, from everywhere, for everything.
We three, management consultants turned authors, are partners….and have been studying the change in the global business environment – and working with companies involved in it – for more than twenty years. The extensive research that we….have conducted over the past five years set us on a path that led to this book.
When we started out in our international travels, globalization was just getting under way. It was a cavalcade that traveled from West to East – big multinational companies center in Europe, Japan and the United States marching out from their corporate fortresses to foreign lands in search of low-cost manufacturing and low-end markets.”

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June 25, 2008

Outsmart!

Filed under: Book Reviews — dylan @ 1:28 pm
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Jim Champy is coauthor of the business classic Reengineering the Corporation: A Manifesto for Business Revolution, which is, without a doubt, one of The 100 Best Business Books of All Time (we love manifestos). He also wrote the follow-ups Reengineering Management and X-Engineering the Corporation, and just released a new book, Outsmart!, in March.
Outsmart!, as Champy puts it in the introduction, is:

…The first in a planned series comprising four compact volumes on the key topics of strategy, marketing, leadership, and operations. Taken together, the books aim to deliver the most current intelligence available on how to succeed in today’s brave new world of business. An ambitious project? Yes. But what I see a host of companies accomplishing today has me both excited and encouraged.

With the current state of the economy, we can all use a little more encouragement. Maybe Jim Champy can help.
You can read a review from the Boston Globe here.
You can read an interview of Mr. Champy from Management Consulting News here.

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June 24, 2008

The Pixar Touch review in the New York Times Book Review

Filed under: Book Reviews,Jack Covert Selects — 800-CEO-READ @ 3:54 pm
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The Pixar Touch, which was a Jack Covert Selects in May, was reviewed in this past Sunday’s New York Times Book Review.
Read the review here.

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Seinfeld on Carlin

Filed under: Jack's Thoughts — Jack @ 3:30 pm
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Jerry Seinfeld talks about George Carlin’s death here.

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Books Available in Spanish

Filed under: Foreign Titles — delicious @ 8:57 am
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Hey!! Here’s a mish-mash of titles that are now currently available in Spanish! Take time this summer and try a new language out, or get them for your friends at work that are bi-lingual!
Check them out:

Esta Lleno Su Cubo? (How Full is Your Bucket) – by Donald O. Clifton and Tom Rath

La Buena Suerte (Good Luck) – by Fernando Trias de Bes and Alex Rovira

Un Naufrago En La Bolsa (Castaway in the Stock Market) – by Carlos Torres Blanquez

Organizarse Para Alcanzar El Exito (Organized for Success) – by Stephanie Wilson

Las Cinco Difunciones de un Equipo (The Five Dysfunctions of a Team) – by Patrick Lencioni

El desafio de Darwin (Dealing with Darwin) – by Geoffrey A. Moore

Conversaciones Cruciales (Crucial Conversations) – by Kerry Patterson, Joseph Grenny, Ron McMillan and Al Switzler

Retratos de Familia: Lo Que Quiso Saber Y No Se Atrevio a Preguntar Sobre la Empressa Familiar (Family Business) – by Inma Puig

Fish! – by Kenneth H. Blanchard, Mallory Kasdan and Stephen Ludin

El Poder de Fish! (Fish! Sticks) – byJohn Christensen, Harry Paul and Stephen Ludin

And….check out my posting on a new book about the future of Mexico and business HERE

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June 23, 2008

Robyn Meredith on NOW… and Other Resources

Filed under: Book Awards — dylan @ 2:27 pm
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In our first annual business book awards last year, the prize in the Globalization category went to Robyn Meredith’s The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us.
I was a big fan of the book personally, and was pleasantly surprised to see her recently on NOW, a weekly program on PBS. NOW turned to Meredith for her perspective during the episode “India Rising”–their look at the meteoric rise of India (and China) on Friday evening. Some of her thoughts:

The last time we saw such a big transformation was really when the United States itself came onto the global stage.

and

All of us are going to have to share. There’s only so much on the planet… there’s only so much energy. We’re either going to have to pay a lot more for the privilege of using it, or we’re going to have to decrease our use, or both. We’re now in a competition, not just for jobs, but also for resources. We’ve been lucky, but the game’s over.

The resources she’s talking about aren’t just oil and steel and concrete. Now a part of a global supply chain, food availability (and its cost) is also being increasingly affected as people in India and China can afford to eat better, creating more demand for more food–particularly more meat.
Gurchuran Das, former CEO of Proctor & Gamble India and author of India Unbound, was also interviewed for the program. (I haven’t read any of his work, but after seeing how insightful and well-spoken he is on these issues, I look forward to it.) Das estimates that 50% of the Indian population will earn enough to be considered middle class by 2020. That’s around 580 million people, or roughly twice the size of the entire United States. That’s roughly twice the size of the entire United States driving cars, buying microwaves, heating and cooling ever bigger homes, eating better, all the while consuming the resources that those activities entail. And… that’s not including China.
Click here to get the video of the program, or here to download the audio.
If you’re looking for more on India, check out In Spite of the Gods: The Rise of Modern India. It was also a winner in our book awards, getting the nod in the New Perspectives category.
If you’d like another (and alarming) look at the competition for resources, look no further than Richard Behar’s epic, six part article for Fast Company on China’s expanding influence in Africa.

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