7. July 2016
strategy + business, Published: May 26, 2016
The legendary management guru believes burying your nose in a book can be the most effective strategy for succeeding in business.
by Theodore Kinni
Tom Peters. You know the guy. He branded himself with an “!” after his name. He and Bob Waterman wrote one of the best-selling business books of all time,In Search of Excellence: Lessons from America’s Best-Run Companies(Harper & Row, 1982).
Peters is one of the handful of people who helped transform the business book genre from a staid backwater into a mass market — with 1.8 million titles in print, it’s the fifth-largest book category on Amazon. He has written 29 of those titles and sold more than 10 million copies of them. In the process, Peters helped define the term business guru and inspired more wannabes than Madonna. At age 73, he enjoys an engaged, multigenerational audience, including 135,000 Twitter followers.
Because Peters is a voracious reader, I thought he would make an ideal subject for my monthly “Required Reading” column for strategy+business, in which business notables call out a very short list of books they think leaders should read. But a brief call to New Zealand, where Peters goes to beat the New England winters, to discuss his four favorite books somehow turned into a one-and-a-half-hour marathon.
“I have to tell you a story about a neighbor of mine in Massachusetts who would be on anybody’s top 10 list of [Warren] Buffett–like people,” Peters opened. “I was at a dinner with him 18 months ago and, out of nowhere, he said, ‘You know what the number one problem is with big company CEOs?’ I said, ‘I can think of at least 70 things, but damned if I can narrow it down.’ And out of his mouth pops, ‘They don’t read enough.’” Read the rest of this entry »
2. June 2016
Source: The Wall Street Journal
A timeline of the company’s history
Amazon has grown from a pure online bookseller to one offering a dizzying array of products, services and devices. Today, Amazon competes with media companies like Netflix, hardware makers like Apple, search and advertising firms like Google and even Uber in on-demand transportation and delivery—not to mention traditional brick-and-mortar retailers.
11. April 2016
It followed Apple’s lead.
Platform businesses are disrupting the traditional business landscape in a number of ways—not only by displacing some of the world’s biggest firms, but also by transforming familiar business processes like value creation and consumer behavior and altering the structure of major industries.
And if they hope to fight the forces of platform disruption, entrenched companies need to reevaluate their business models. They’ll need to scrutinize what they spend on marketing, sales, product delivery, and customer service and imagine how those costs might be reduced or eliminated in a more seamlessly connected world. They’ll need to examine the individuals and organizations they interact with, and envision new ways of networking them to create new forms of value.
Nike has proven to be one of the most intelligent incumbent companies seeking new ways to survive and thrive in the world of platforms. Some of the competitive steps they’ve taken may seem obvious. They aren’t.
Platform Revolution: How Networked Markets Are Transforming the Economy—And How to Make Them Work for You
Pipeline businesses like Nike have traditionally scaled in one of two ways. Some expand by vertical integration, owning and integrating a greater length of the value-creation-and-delivery pipeline—for example, buying upstream suppliers or downstream distributors. Others expand by widening the pipeline to push more value through it. When consumer goods companies grow by creating new products and brands, it’s an example of horizontal integration. Read the rest of this entry »
5. February 2016
Source: Scientific American
The gene-editing technology known as CRISPR has spawned an increasingly unseemly brawl over who will reap the rewards
A defining moment in modern biology occurred on July 24, 1978, when biotechnology pioneer Robert Swanson, who had recently co-founded Genentech, brought two young scientists to dinner with Thomas Perkins, the legendary venture capitalist. As they stood outside Perkins’s magnificent mansion in Marin County, with its swimming pool and garden and a view of the Golden Gate Bridge, Swanson turned to his two young colleagues and said, “This is what we’re all working for.”
That scene came to mind as I sorted through the tawdry verbal wreckage on social media and in print of the “debate” over CRISPR, the revolutionary new gene-editing technology. The current brouhaha, triggered by Eric Lander’s now-infamous essay in Cell called “The Heroes of CRISPR,” is the most entertaining food fight in science in years.
The stakes are exceedingly high. CRISPR is the most important new technology to hit biology since recombinant DNA, which launched Genentech, made Swanson, along with his colleagues and investors, rich and brought molecular biology, long the province of academia, into the realm of celebrity and big money. In this context, the Cell essay has huge patent and prize implications. Lander has been accused of writing an incomplete and inaccurate history of the CRISPR story, burnishing the patent claims of the Broad Institute in Cambridge, Mass., (he is its director) and minimizing the contributions of rival scientists. A blogger has referred to him as “an evil genius at the height of his craft.” And George Church, a colleague at the Broad Institute, likens Lander to a figure out of a Greek tragedy. “The only person that could hurt him was himself,” he says. “He was invulnerable to anybody else’s sword.” And you thought scientists couldn’t talk smack. Read the rest of this entry »
30. January 2016
Source: The Wall Street Journal
Within 10 years, earpieces will whisper nearly simultaneous translations—and help knit the world closer together
Is it possible that someday we will be able to converse in dozens of foreign languages, eliminating the very concept of a language barrier?
It used to be the case when I traveled abroad that I would take a little pocket dictionary that provided translations for commonly used phrases and words. If I wanted to construct a sentence, I would thumb through the dictionary for five minutes to develop a clunky expression with unconjugated verbs and my best approximation of the correct noun. Today I take out my phone and type the phrase into Google Translate, which returns a translation as fast as my Internet connection can provide it, in any of 90 languages.
Machine translation is leaps and bounds faster and more effective than my old dictionary method, but it still falls short in accuracy, functionality and delivery. That won’t be the case for long. A decade from now, I would predict, everyone reading this article will be able to converse in dozens of foreign languages, eliminating the very concept of a language barrier.
Today’s translation tools were developed by computing more than a billion translations a day for over 200 million people. With the exponential growth in data, that number of translations will soon be made in an afternoon, then in an hour. The machines will grow exponentially more accurate and be able to parse the smallest detail. Whenever the machine translations get it wrong, users can flag the error—and that data, too, will be incorporated into future attempts.It is just a matter of more data, more computing power and better software. These will come with the passage of time and will fill in the communication gaps in areas including pronunciation and interpreting a spoken response. Read the rest of this entry »
17. October 2015
Source: The Economist: Schumpeter
Subject: Professor Dr Robot QC
IN 1933, as the Depression ground on, two British sociologists, Alexander Carr-Saunders and Paul Wilson, wrote a book celebrating the professions. They describe them as “stable elements” in a turbulent world, which “inherit, preserve and hand on a tradition.” They act as “centres of resistance to crude forces which threaten steady and peaceful evolution”.
Professions resist these “crude forces” through high barriers to entry. They routinely limit their recruitment to people with degrees. Some, such as medicine or law, require professional licences and sometimes membership in professional bodies. Others demand long periods of apprenticeship: although anybody can call themselves a management consultant, elite firms such as McKinsey and the Boston Consulting Group provide their recruits with extensive training and only promote a minority to partnerships. The oldest professions also emphasise the importance of tradition: professors dress up in medieval gowns on ceremonial occasions and British barristers wear wigs. Read the rest of this entry »