Showing posts with label internet marketing. Show all posts
Showing posts with label internet marketing. Show all posts

New Ideas from Dead CEOs: Lasting Lessons from the Corner Office Review

New Ideas from Dead CEOs: Lasting Lessons from the Corner Office
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New Ideas from Dead CEOs: Lasting Lessons from the Corner Office Review
Actually, it was Bernard of Chartres, not Isaac Newton, who should be properly credited with first observing that "we are like dwarfs on the shoulders of giants, so that we can see more than they, and things at a greater distance, not by virtue of any sharpness on sight on our part, or any physical distinction, but because we are carried high and raised up by their giant size." I thought of that observation as I began to read Todd Buchholz's book about ten "giants" of the business world, each of whom introduced or refined "new" ideas that have, by now, been widely adopted.
The ideas on which Todd Buchholz focuses in this book were obviously "new" at one time but have by now become widely-adopted core concepts for achieving and then sustaining success in business. For example, almost all of the ideas about salesmanship that Thomas J. Watson, Sr. institutionalized so effectively at IBM and his son Thomas Jr. then refined were developed years earlier at National Cash Register when CEO John Patterson noted that his brother was outselling everyone else, examined how he achieved it, and established what is reputed to be the first corporate sales training program (in 1893) based on his brother's sales strategies and tactics. It is worth noting that Watson Sr. worked for IBM for several years and later acknowledged the value of what he learned about salesmanship from its branch manager in Buffalo, John J. Range.
In (of all places) the book's concluding chapter, Buchholz offers a challenge to his reader and makes a statement that indicates his approach top each of the ten "giants":
"I dare you. Search this book for the solitary secret that will guarantee riches while protecting you from being flung against the wall by competitors. You won't find it." Buchholz then continues, "Not because I have failed to divulge the lives and lessons f great CEOs, but because I tried to reveal the simple truth about making it big: It does not take a village, a Harvard MBA, or even a rich uncle. It takes passion, and obsession with turning a great idea into a sweeping revolution."
That is certainly true of A.P. Giannini who "invented modern banking" by establishing and then building his Bank of Italy (that eventually became Bank of America) with a customer base of "the little people" (e.g. immigrants) and small businesses ignored by other banks. It is also true of Estée Lauder who "recognized that by placing herself among the `power elites,' to borrow C. Wright Mills' phrase, she could more easily market her cosmetics to the strata just below them." One of her most important insights was that she could sell more perfume by avoiding the word "perfume." She was among the earliest (if not the earliest) of those who recognized how important it is to members of the lower and middle economic classes to have a "taste of luxury" even if and especially if, that is all they can afford. Mass affluence has become and remains among the most significant phenomena in contemporary marketing.
Of special interest to me is what Buchholz reveals about David Sarnoff `s life and career, and especially his impact on the communications media in the 20th century. He was hired by Guglielmo Marconi to work for the Marconi Wireless Telegraph Company as Marconi's personal assistant. He enrolled in and was among the few to complete an electrical engineering course at the Pratt Institute. He was on duty the night of April 14, 1912, when he received a message from H.M.S. Titanic that it was struck an iceberg and was rapidly sinking. Of course, there was nothing he could do except share this tragic news with his associates. But he began to think about an intriguing challenge: How to deliver sound to more people? Over the next several decades, he served as CEO of the Radio Corporation of America (RCA), heading an organization that delivered first sound, then pictures, and eventually colored pictures to people throughout the world. "David Sarnoff conquered radio and television because he had the brainpower and the willpower to understand both the science and the business."
Buchholz also has much of value to say about the lives and careers of Mary Kay Ash, Ray Kroc, Akio Morita, Walt Disney, and Sam Walton. With regard to Ash, in response to someone's suggestion that pink (actually mountain laurel) Cadillacs are "tacky," she inquired: "What color was the car your company gave you?" As a boy, Disney lived with his family on a small farm near Marceline, Missouri, for only a few years but later immortalized it as Main Street, USA, an especially popular area that welcomes visitors to both Disneyland and Walt Disney World. "In fact, along Main Street, Walt honored his father with a fictitious second-story shop, featuring the following window sign: Elias Disney - contractor - est. 1895." Some of the anecdotes that Buchholz shares about them and the other CEOs are well-known, some less so. However, in combination with a wealth of carefully selected historical material, they help to reveal the CEOs' "passion, and obsession with turning a great idea into a sweeping revolution."
Those who share my high regard for this book are urged to check out Richard Tedlow's Giants of Enterprise: Seven Business Innovators and the Empires They Built, Michael J. Silverstein and Neil Fiske's Trading Up: Why Consumers Want New Luxury Goods... And How Companies Create Them (Revised and Updated), and Paul Nunes and Brian Johnson's Mass Affluence: Seven New Rules of Marketing to Today's Consumer.New Ideas from Dead CEOs: Lasting Lessons from the Corner Office Overview

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The New Media Monopoly: A Completely Revised and Updated Edition With Seven New Chapters Review

The New Media Monopoly: A Completely Revised and Updated Edition With Seven New Chapters
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The New Media Monopoly: A Completely Revised and Updated Edition With Seven New Chapters ReviewThis is the newly updated version of Bagdikian's classic tome *The Media Monopoly* which first appeared in 1983 and was prescient enough to reach six editions by 2000. While dismissed as alarmism, with each edition of the book the problem of corporate media consolidation became worse, and now we are down to just five mega-conglomerates controlling almost all media content, and subsequently most political and social thought among the American public. Bagdikian is an expert commentator on the effects this has on popular democracy and social justice, and the problem has become so bad that it became necessary to create a completely revised text, rather than just a "new" edition of the old book with some tacked-on updates.
This powerful manifesto by Bagdikian sometimes suffers from a lack of focus. One frequent weakness is his tendency to opinionate on the social issues he uses as examples of poor mainstream media coverage. Examples include homelessness and smoking, in which Bagdikian forgets his analysis of media control issues and embarks on long expostulations of his own personal politics. A more general issue is his tendency to drift into political science as applied to modern corporate conservatism and crony capitalism. These are subjects in which Bagdikian is certainly proficient, and they are the root causes of the horrific state of American media. However, Bagdikian frequently drifts from useful media analysis to occasionally cranky political tirades that detract from the focus and power of the book's main points.
And even though this is a completely new edition, much of the text has still been copied verbatim from the old versions of the original book, leading to odd appearances of stories and examples from the 1960s and 70s, some of which have little modern relevance. The new chapter on the internet gives the impression that Bagdikian is barely familiar with that realm, as he gives remedial introductions to concepts that most of us are long familiar with. Other writers and analysts have now taken the issue of corporate media control and produced outstanding treatises that surpass Bagdikian's groundbreaking work (I especially recommend Robert W. McChesney). However, Bagdikian is still the originator and when he's focused, his insights into the social and political damage wrought by our corporate media are still powerful and prescient. [~doomsdayer520~]The New Media Monopoly: A Completely Revised and Updated Edition With Seven New Chapters OverviewWhen the first edition of The Media Monopoly was published in 1983, critics called Ben Bagdikian's warnings about the chilling effects of corporate ownership and mass advertising on the nation's news "alarmist." Since then, the number of corporations controlling most of America's daily newspapers, magazines, radio and television stations, book publishers, and movie companies has dwindled from fifty to ten to five.The most respected critique of modern mass media ever issued is now published in a completely updated and revised twentieth anniversary edition.'Ben Bagdikian has written the first great media book of the twenty-first century. The New Media Monopoly will provide a roadmap to understanding how we got here and where we need to go to make matters better.' -Robert McChesney, author of Rich Media, Poor Democracy

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