Amazon.com's Best of 2001
Five years ago, Jim Collins asked the question, "Can a good company become a great company and if so, how?" In Good to Great Collins, the author of Built to Last, concludes that it is possible, but finds there are no silver bullets. Collins and his team of researchers began their quest by sorting through a list of 1,435 companies, looking for those that made substantial improvements in their performance over time. They finally settled on 11--including Fannie Mae, Gillette, Walgreens, and Wells Fargo--and discovered common traits that challenged many of the conventional notions of corporate success. Making the transition from good to great doesn't require a high-profile CEO, the latest technology, innovative change management, or even a fine-tuned business strategy. At the heart of those rare and truly great companies was a corporate culture that rigorously found and promoted disciplined people to think and act in a disciplined manner. Peppered with dozens of stories and examples from the great and not so great, the book offers a well-reasoned road map to excellence that any organization would do well to consider. Like Built to Last, Good to Great is one of those books that managers and CEOs will be reading and rereading for years to come. --Harry C. Edwards
Book Description
The Challenge
Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning.
But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness?
The Study
For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great?
The Standards
Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck.
The Comparisons
The research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good?
Over five years, the team analyzed the histories of all twenty-eight companies in the study. After sifting through mountains of data and thousands of pages of interviews, Collins and his crew discovered the key determinants of greatness -- why some companies make the leap and others don't.
The Findings
The findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include:
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Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness.
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The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence.
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A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology.
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The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap.
“Some of the key concepts discerned in the study,” comments Jim Collins, "fly in the face of our modern business culture and will, quite frankly, upset some people.”
Perhaps, but who can afford to ignore these findings?
Customer Reviews:
Jim Collins is a Level 5 Thought Leader.......2007-10-23
I can confirm many of the ideas in this book from my own research on Superperformance. There is a consistent pattern that underlies high performing companies of every stripe. It is interesting to note that many of the companies lauded in GOOD TO GREAT and BUILT TO LAST are no longer shining so bright. Succession planning should focus on sustaining the 'way of being' not the CEO.
also read Superperformance
Great.......2007-10-20
Two things I love about this book.
1. It is bang on in terms of the things that matter to a tech startup
2. It is short - half the book is methodology
Thorough analysis with actionable recommendations.......2007-10-20
This book was recommended to me by someone I respect so I didn't do much research before ordering. At first the easy reading style gave me the impression that it had little substance. However, after getting into the book I realized that there was a great deal of substantive research backing up the recommendations. Some of the reviews have indicated a concern that the rules may have changed since the research was conducted. I too had reservations that his research might be a bit dated. However after further reflection and observation of current organizations I would have to firmly disagree. Mr. Collins and his research team have uncovered timeless recommendations that I plan to put into action in my organization. Moreover, my company was listed as one of the "Comparison Companies" not considered "Great" during the time periods analyzed. Fortunately, a lot has changed since the analysis period in the book. We merged with a better company which resulted in a much stronger leadership team and more effective corporate culture.
From Good to Great to Best.......2007-10-19
This well researched book provides the principles to enable good companies to become great. The "first who, then what" concept contradicts the old "What first (Vision, mission, guiding principles, tactics, etc)". Having read Optimal Thinking: How to Be Your Best Self, I am convinced that there is an additional step required to experience organizational optimization - execution based on Optimal Thinking by individuals, teams, departments and the entire organization. When we choose, attract and retain the best, we stop settling for second best (which could be great). I recommend both books.
Greatness Revealed.......2007-10-19
As I was reading this book, I thought numerous times of how wonderful it would be if I was working at a company that was trying to transform itself from good to great. The reality, however, is that most people don't work at great companies. Instead, most of us work at mediocre companies fighting to stay alive in today's competitive business world, unsure as to the one thing the business could do better than anyone else.
This book is thoroughly researched and thought provoking. The ideas are timeless and, if followed, I am convinced that the results would speak for themselves. The eleven or so companies used as model companies in the book that changed from good to great are still thriving today, six years after the book was published, and the employees engaged in the work love it, I am sure. And who wouldn't? Working with a company determined to be successful would be exciting, if not challenging. I only wish I could bring up some of the practices described in detail in this book to those leaders of my current company. Until changes are made, its greatness will forever be on hold.
Book Description
In his landmark book Open Innovation, Henry Chesbrough demonstrated that because useful knowledge is no longer concentrated in a few large organizations, business leaders must adopt a new, “open” model of innovation. Using this model, companies look outside their boundaries for ideas and intellectual property (IP) they can bring in, as well as license their unutilized home-grown IP to other organizations.
In Open Business Models, Chesbrough takes readers to the next step—explaining how to make money in an open innovation landscape. He provides a diagnostic instrument enabling you to assess your company’s current business model, and explains how to overcome common barriers to creating a more open model. He also offers compelling examples of companies that have developed such models—including Procter & Gamble, IBM, and Air Products.
In addition, Chesbrough introduces a new set of players—“innovation intermediaries”—who facilitate companies’ access to external technologies. He explores the impact of stronger IP protection on intermediate markets for innovation, and profiles firms (such as Intellectual Ventures and Qualcomm) that center their business model on innovation and IP.
This vital resource provides a much-needed road map to connect innovation with IP management, so companies can create and capture value from ideas and technologies—wherever in the world they are found.
Customer Reviews:
Fair.......2007-06-21
This is another pretty good book from the author. As in his earlier book, he starts with the motivation for open innovation, which is an old idea but that is not well practiced. In this new book he addresses many of the shorcomings of the first book, such as getting real value out of the partnerships that can be formed while overcoming internal issues, such as NIH. He then talks about different ways companies go about this. What drives you crazy is that he seems unaware that companies have been doing this forever. In the consumer electronics industry, for example, open innovation is mostly the model. Companies like GE, TI, and RCA were examples. In the case of GE and RCA they go back almost 100 years.
Well-written, concise, with specific examples.......2007-06-02
As with his previous book Open Innovation, Chesbrough provides a concise and easily read review of important new trends in high-tech management. In this book the focus is on the path an innovation takes to profitability in the marketplace. Among the topics reviewed are novel "intermediate markets" for ideas and technology.
I particularly appreciated the chapters of the book that provide nine examples of companies that are more-or-less "pure play" innovation intermediaries. Companies like Innocentive, Ocean Tomo, and UTEK are profiled in depth. I appreciate the specificity, which will allow the reader to evaluate Chesbrough's insights into the future: By following up on the progress of these companies, we'll see how well Chesbrough hit the mark. This specificity is rare in business books.
It will be interesting to see where Chesbrough's interests flow in future. I would welcome a focus on public sector research institutions. A comparison of the innovation and commercialization models among universities, NIH, NASA, ESA, etc. could be helpful to policy makers as Open Innovation ideas gain wider acceptance.
Open Business Models for Those Who Rely on Technology Innovation and Need Intellectual Property Protection.......2007-05-14
This book is misnamed. Rather than being about open business models, the book's topic is about how to open business models to benefit from access to more technological innovation and strengthen your competitive posture through intellectual property.
As a result, Professor Chesbrough creates a misapprehension that successful open business models are almost always linked to technological innovation as their main purpose and benefit. My own research (with Carol Coles in The Ultimate Competitive Advantage: Secrets of Continuously Developing a More Profitable Business Model) indicates just the opposite point: Technological innovation is rarely the most effective way to open up your business model to create improvements.
So, this book's value is mostly to those who work in achieving or creating more benefits from technology innovation. If that is your interest, you've come to the right book. If that's not your interest, skip this book.
Why do those involved in achieving or creating more benefits from technology innovation need to open their business models? Professor Chesbrough points to several influences:
1. Technological innovation is coming from more sources than ever before. As a result, you will be developing inferior technology without accessing the best of what the world has to offer.
2. Most intellectual property isn't used for any practical purpose. That's a waste of social and company resources.
3. The protections for intellectual property are stronger now, and your pathway to progress will be blocked without collaborating with those who have complementary IP.
4. Product cycles are shorter and costs of developing new technologies are higher; open business models offer the promise of getting to market sooner at lower cost so that your business has a better chance of earning a decent return on new technology.
5. Large companies need to make new product development more productive if they are to meet their growth goals.
Professor Chesbrough does a nice job of developing those themes. He balances theoretical arguments with case histories of recent practices.
Of even more value, he explains how companies will have a hard time finding all of the technology they need without help. As a result, he feels that intermediaries will turn out to be important to helping connect organizations. His case histories of such intermediaries are very interesting in showing how difficult it is to play such intermediary roles without deep pockets.
For those who are new to the subject of technological innovation in the context of business models, you will find his descriptions of what a business model is (see page 182) and types for assessing your business model (see pages 132-133) to be helpful. The only quibble I would make with his types is that in his examples he assumes relative undifferentiation in industries and business types where there are often large nontechnological differentiations.
I found the last chapter to be by far the most helpful, in describing three case histories (IBM, Procter & Gamble, and Air Products) for showing how large organizations went from closed to open business models for the purpose of technological innovation. In fact, the discussion of Procter & Gamble's practices is the best one that I have read. That point, by itself, is sufficient to commend this book to you. I suspect that almost everyone will be doing what Procter & Gamble is doing now ten years hence.
Excellent work, Professor Chesbrough!
Innovation requires an open mind...and the courage to challenge "the ideology of comfort and the tyranny of custom." .......2007-03-14
What is an open business model? In Chapter 1, here's Henry Chesbrough's response to that question: "A business model performs two important functions: it creates value and it captures a portion of that value. It creates value by defining a series of activities from raw materials through to the final consumer that will yield a new product or service with value being added throughout the various activities. The business model captures value by by establishing a unique resource, asset, or position within that series of activities, where the firm enjoys a competitive advantage."
Having thus established a frame-of-reference, Chesbrough continues: "An open business model uses this new division of innovation labor - both in the creation of value and in the capture of a portion of that value. Open models create value by leveraging many more ideas, due to their inclusion of a variety of external concepts. Open models can also enable greater value capture, by using a key asset, resource, or position not only in the company's own business model but also in other companies businesses."
These two brief excerpts are provided because Chesbrough`s definitions of various terms are far clearer and more authoritative than mine could possibly be. Also, these excepts address the "what" so that in the balance of this brilliant book, Chesbrough can then focus almost entirely on the "why" and "how" concerning the design, implementation, modification, and performance measurement of open business models.
I was especially interested in what Chesbrough has to say about what several quite different exemplary companies -- including IBM, Qualcomm, Genzyme, Procter & Gamble, and Chicago (the musical stage show and film) -- share in common: "each started with an idea that traveled from invention to market through at least two different companies" which shared the work of innovation, and, all were assisted by effective management of an open business model. Chesbrough also devotes a substantial attention to IBM whose type 3 business model (i.e. multiple segmentations, "inside-out" mindset) reached a financial crisis in 1992. Had the IBM board not replaced its then CEO with Lou Gerstner and fully supported his leadership throughout an immensely complicated and equally difficult transformation , it is probable that IBM would not have survived. Gerstner deserves much of the credit for the success of that "cultural revolution" (as he once described it) but much credit should also be assigned to IBM's open source business model. Procter & Gamble is another company which completed an especially difficult transition from having internal staff members who protected (hoarded?) various technologies so that other companies, including potential competitors, could not use them to becoming a company with a much more open approach to innovation. Chesbrough notes that P&G began to pay much greater attention of external licensing of its technologies, (e.g. to BearingPoint), now strongly supports openly partnering for driving growth equity joint ventures (e.g. with Clorox), and an entirely new perspective on competitive advantage.
According to Jeff Weedman, vice president of P&G's external business development: "There are many kinds of competitive advantage. The original view here was: I have got it, and you don't. Then there is the view, that I have got it, you have got it, but I have it cheaper. Then there is I have got it, you have got it, but I got it first. Then there is I have got it, you have gotten it from me, so I make money when I sell it, and I make money when you sell it." To me, that in essence describes the primary competitive advantage of the open business model.
I also appreciate what is rarely provided in other business books: detailed notes (Pages 217-242) which are clustered per chapter. As I read them, it seemed as if Chesbrough were standing next to me, supplementing his narrative with additional comments that are always informative and frequently entertaining. What also struck me about Chesbrough's notes is that they enable him to acknowledge various sources with appreciation and admiration. His was obviously an open source approach to the research for this book and then to the writing of it.
To thrive in the new innovation landscape, change agents must have both an open mind and the courage to challenge what James O'Toole characterizes, in Leading Change, as "the ideology of comfort and the tyranny of custom." They would also be well-advised to absorb and digest the material in this book. Congratulations to Henry Chesbrough on a brilliant achievement.
The World It Is a'Changin.......2007-03-04
We have become accustomed to the fact that innovation has become a standard of the industrial world. Indeed companies like Microsoft market (very successfully) what is essentially nothing but an arrangement of bits. One of the things that this book brings to mind is that a lot of other companies (Procter & Gamble, Air Products) are innovative in a business that you wouldn't think of as being particularly innovative.
This book is exploring fairly new ground in its concept of 'Open Innovation,' that is creating a marketplace for innovation itself. You might not be able to capitalize on your new innovative idea, perhaps Air Products can, or perhaps you can use something that Procter & Gamble has done. And where that's a market like that, there are new specialty companies in the business of marketing innovation between companies.
We live in a time where the future is going to require major changes, peak oil and global warming to name two harbingers of change. Companies that continue to live in the old world are going to have a very hard time -- go look at Ford and GM
Book Description
The eleventh edition of Strategic Management is a current, well-written strategic management book with the most up-to-date compilation of cases available. Designed in functional four-color, it offers a popular practitioner-oriented perspective, focuses on skill-building in all major areas of strategy formation, implementation, and evaluation, and weaves three very contemporary themes throughout each chapter–globalization, the natural environment, and e-commerce.
The author provides and overview of strategic management, as well as strategy formulation and implementation, strategy evaluation, strategic management case analysis, 46 Experiential Exercises and 43 cases including service company cases and manufacturing company cases.
For management professionals, small business owners and others involved in business.
Customer Reviews:
Good book.......2007-06-01
Easy reading, good explanations of basic concepts and up to date scenarios in real world.
Used at new price.......2005-10-01
I ordered the book new. It arrived with dented/chipped corners and a slightly torn spine on hardcover. I assumed it was new but slightly damaged from storage or shipping. Three weeks into the college term I am discovering highlighting already in the book. I feel ripped off.
not pleased at all........2005-09-01
I ordered the 7th edition as this page shows and incorrectly received the 5th edition. Problem was not corrected.
A good book, but not spectacular.......2003-09-01
This is a good, step-by-step book for strategic management.
It lays out the steps very well, but it could use a bit more information.
The financial ratios section could use more information, and the case studies are often unequal in the types of information that they carry. This makes it difficult to do competitor comparisons.
How do you rank a company's workers policy when only one case has information on it and the other does not? You cannot simply discount such information when it could be an important competitve factor.
Essentially, this is a good book for teaching you a process, but it could use some work on giving you more details.
Strategic Management: Concepts & Cases.......2002-03-20
It is a helpfull book, especially for anyone who deal with the strategy formulation. This book provide some valuable tools for analyzing the organization's environment, both external and internal, which is something special with this book that make it different with the other.
Average customer rating:
- Excellent
- Effective Strategic Management Tool
- The Balanced Scorecard - translating strategy into action
- they are the ones
- Are you adding or destroying value ? - Find it out with The Balanced Score Card
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Balanced Scorecard
Kaplan
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The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment
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Strategy Maps: Converting Intangible Assets into Tangible Outcomes
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Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results
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Performance Dashboards: Measuring, Monitoring, and Managing Your Business
ASIN: 0875846513 |
Book Description
Here is the book-by the recognized architects of the Balanced Scorecard--that shows how managers can use this revolutionary tool to mobilize their people to fulfill the company's mission. More than just a measurement system, the Balanced Scorecard is a management system that can channel the energies, abilities, and specific knowledge held by people throughout the organization toward achieving long-term strategic goals.
Kaplan and Norton demonstrate how senior executives in industries such as banking, oil, insurance, and retailing are using the Balanced Scorecard both to guide current performance and to target future performance. They show how to use measures in four categories-financial performance, customer knowledge, internal business processes, and learning and growth-to align individual, organizational, and cross-departmental initiatives and to identify entirely new processes for meeting customer and shareholder objectives.
The authors also reveal how to use the Balanced Scorecard as a robust learning system for testing, gaining feedback on, and updating the organization's strategy. Finally, they walk through the steps that managers in any company can use to build their own Balanced Scorecard.
The Balanced Scorecard provides the management system for companies to invest in the long term-in customers, in employees, in new product development, and in systems-rather than managing the bottom line to pump up short-term earnings. It will change the way you measure and manage your business.
Customer Reviews:
Excellent.......2007-10-22
This is a product that help me to alling the objetive of our organization to the lowest levels
Effective Strategic Management Tool.......2007-10-16
The book is a classic that has revolutionalised the way executives view their organizations, be it a for profit or not-for-profit entity. The Balanced Scorecard, an approach to strategic management that was developed by Robert S Kaplan and David P Norton, is a concept for measuring a company's activities in terms of its vision and strategies, to provide managers with a comprehensive view of the performance of a business. The key new factor is focusing not only on financial results but also on the human issues that drive those outcomes, so that organizations focus on the future and act in their long-term best interest.
The traditional means of measuring success through financial performance focuses on achievement to date. It is backward looking and can be counter productive in terms of securing a successful financial future. According to Kaplan and Norton financial measures are inadequate for guiding and evaluating the drive that information age firms must make to create future value through investment in customers, suppliers, employees, processes, technology and innovation.
The Balanced Scorecard balances financial success with processes that will generate success in the future. The scorecard retains a financial perspective and achieves balance by introducing a customer perspective, an internal perspective and a learning and growth perspective. In addition, it introduces objectives and measures, identifying both critical success factors and critical measurements.
The Balanced Scorecard is a management system (not only a measurement system) that allows organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the Balanced Scorecard transforms strategic management from an academic exercise into the nerve centre of an enterprise.
The Balanced Scorecard methodology builds on some key concepts of previous management ideas such as Total Quality Management (TQM), including customer-defined quality, continuous improvement, employee empowerment, and measurement-based management and feedback.
The Balanced Scorecard suggests that we view the organisation from four perspectives, namely the financial perspective, customer perspective, internal business processes and learning and growth perspective. The approach requires managers to develop metrics, collect data and analyze it relative to each of these perspectives.
This outstanding book is recommended to managers at all levels of an organisation, as well as business management students and strategy consultants.
The Balanced Scorecard - translating strategy into action.......2007-10-06
The order process was quick and easy,the information updates on status of delivery were accurate, the book arrived before ETA, and it was in excellent condition.
Thank you for a great transaction.
Now I just have to read it!!!
Regards
Breed Lewis
they are the ones.......2007-04-09
They invented it and there's no way to plan a BSC without knowing where it came from.
You don't notice that it's been 10 years since it was written.
Are you adding or destroying value ? - Find it out with The Balanced Score Card.......2006-07-13
The financial performance of an organization is essential for its success. Even non-profit organizations must deal in a sensible way with funds they receive.
In 1992, an article by Robert Kaplan and David Norton entitled "The Balanced Scorecard - Measures that Drive Performance" in the Harvard Business Review caused a lot of attention for their method, and led to their business bestseller, "The Balanced Scorecard: Translating Strategy into Action", published in 1996.
In this book Robert S. Kaplan and David P. Norton develop and describe the Balanced Score Card, a multidimensional approach to measuring corporate performance that incorporates both financial and non-financial factors.
The Balanced Score Card method of Kaplan and Norton is a strategic approach and performance management system that enables organizations to translate a company's vision and strategy into implementation, working from 4 perspectives:
1. financial perspective,
2. customer perspective,
3. business process perspective,
4. learning and growth perspective.
- Financial perspective: Kaplan and Norton do not disregard the traditional need for financial data. Timely and accurate funding data will always be a priority, and managers will do whatever necessary to provide it. In fact, often there is more than enough handling and processing of financial data. With the implementation of a corporate database, it is hoped that more of the processing can be centralized and automated. But the point is that the current emphasis on financials leads to the "unbalanced" situation with regard to other perspectives. There is perhaps a need to include additional financial-related data, such as risk assessment and cost-benefit data, in this category.
- Customer perspective: recent management philosophy has shown an increasing realization of the importance of customer focus and customer satisfaction in any business. These are leading indicators: if customers are not satisfied, they will eventually find other suppliers that will meet their needs. Poor performance from this perspective is thus a leading indicator of future decline, even though the current financial picture may look good. In developing metrics for satisfaction, customers should be analyzed in terms of kinds of customers and the kinds of processes for which we are providing a product or service to those customer groups.
- Business Process perspective refers to internal business processes. Metrics based on this perspective allow the managers to know how well their business is running, and whether its products and services conform to customer requirements (the mission). These metrics have to be carefully designed by those who know these processes most intimately. In addition to the strategic management process, two kinds of business processes may be identified: a) mission-oriented processes, and b) support processes. Mission-oriented processes are the special functions of government offices, and many unique problems are encountered in these processes. The support processes are more repetitive in nature, and hence easier to measure and benchmark using generic metrics.
- Learning and Growth perspective includes employee training and corporate cultural attitudes related to both individual and corporate self-improvement. In a knowledge-worker organization, people are the main resource. In the current climate of rapid technological change, it is becoming necessary for knowledge workers to be in a continuous learning mode. Government agencies often find themselves unable to hire new technical workers and at the same time is showing a decline in training of existing employees. Kaplan and Norton emphasize that 'learning' is more than 'training'; it also includes things like mentors and tutors within the organization, as well as that ease of communication among workers that allows them to readily get help on a problem when it is needed. It also includes technological tools such as an Intranet.
The integration of these four perspectives into a graphical appealing picture have made the Balanced Scorecard method a very successful methodology within the Value Based Management philosophy.
In addition to this book you may want to consider the following books on the subject:
- Robert S. Kaplan. Alignment: Using the Balanced Scorecard to Create Corporate Synergies.
- Paul R. Niven. Balanced ScoreCard Step-by-Step: Maximizing Performance and Maintaining Results.
- Paul R. Niven. Balanced ScoreCard Step-by-Step for Government and Nonprofit Agencies.
- Nils-Göran Olve. Performance Drivers: A Practical Guide to Using the Balanced Scorecard.
- Robert S. Kaplan. The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment.
- Robert S. Kaplan. Strategy Maps: Converting Intangible Assets into Tangible Outcomes.
- Robert S. Kaplan. Putting the Balanced Scorecard to Work.
- Robert S. Kaplan. The Balanced Scorecard: Measures That Drive Performance.
Book Description
Improve quality and productivity in most any organization
Based on W. Edwards Deming's model, this guide offers an integrated approach to testing and improvement?one that is designed to deliver quick and substantial results. Using simple stories to illustrate core ideas, the authors?all active consultants?introduce a new, flexible model for improving quality and productivity in diverse settings. They draw from research conducted in a variety of areas?manufacturing, government, and schools?to present a practical tool kit of ideas, examples, and applications. What's more, they've included a Resource Guide to Change Concepts so even beginners can utilize the tested techniques of some of the world's most experienced practitioners.
Customer Reviews:
Simple on the Other Side of Complex.......2007-10-23
The authors have done a tremendous job of codifying a great amount of knowledge into an elegant model for improvement. It can be used with equal success to improve your golf game or guide your global business transformation. Rife with examples and method. A must for every improvement bookshelf.
also read Superperformance
Very helpful. One omission distresses me........2007-06-09
Clear, practical, and empowering. The authors are ambivalent on whether or not they will keep the focus on business operations; from the start they're keen to promote to a fully generic application, but the examples veer to and away from the business world, finally settling there a bit awkwardly.
The Change Concepts index near the end is a great idea, but the scope is confused along the lines I've already cited, and you might feel stuck in the QC department by the time you get through it. That's a bit of a shame, because one wonders if the challenges so elegantly met by the improvement model couldn't be cast in a more universal mode. (One also realizes one doesn't have the time to pursue this thought to fruition.) More pertinently, I'm trying to learn business process engineering, and it's easy to see a list dedicated to that discipline would be different. So despite the book's opening claims to a generic application, I felt stranded in one small tributary of the mighty River Improvement.
Nonetheless, I feel enabled by the book to succeed in my company where others have failed. It's so easy now to see how attempted improvements went wrong, through poor planning or inappropriate opening scope or simply through a failure to acknowledge real benefits when they happened. These pitfalls can be avoided, and the book shows how.
Now, I will mention an important omission. In my workplace I have to test and pilot and implement changes that are complex because a single change has no effect -- rather, two or more changes must be made at the same time, because they are mutually contingent. Management is not sure about A, nor about B. I would like to test A and get a decision, and I would like to treat B as a separate decision path. But they depend on each other, so things aren't so simple. (This is a point where Darwin's theory of cumulative biological mutation fails, if you care to know.) A mechanic troubleshooting your car's ignition system could give you concrete examples, but unfortunately, I couldn't find any in this book. My sense of empowerment has suffered correspondingly.
I just read the Philippy review..........2007-05-16
...and feel compelled to write in response. I must say it is hard to believe that Mr. Philippy and I are looking at the same book. I wrote an extensive review of this book already some time ago (it is listed below) and still feel the same way, even stronger. The Improvement Guide has continued to be, for me and my students/clients/mentees the "here's how" of Dr. W. Edwards Deming's philosophy. I am at a loss to find any hint of self-promotion of the authors in the book, save what one could reasonably infer about the competency and knowledge of the authors given the wealth of useful, in depth examples it contains. These could only come from deep knowledge of the theory and extensive successful experience in its practice. This book is as devoid of self-aggrandizement as any I have ever read.
I take considerable comfort from the fact that given the principles exemplified by the book, it is unlikely that the authors will over-react and over-adjust their professional aims in response to a single review, and will instead continue the fine work that has been done in this volume. My only question is, will there be a second edition? I would love to see it. In tenor and tone, I for one hope that it is exactly like this one....
David Wayne
[...]
Shallow and Pedantic.......2007-01-22
I should qualify this review by stating that I am not an expert on the subject of improvement. This book will not make you or even guide you to expertise. The only shining concept within the book, PDSA, is a great format for structuring improvement within a company, but could have been summed up successfully in 20 pages or less. BOOKS SHOULD NOT SPEND A SIGNIFICANT PORTION OF THEIR VOLUME ADVERTISING THEMSELVES!
The Improvement Guide.......2006-03-11
A very clear update of performance improvement process for business. Can be used as an introduction to the concept for newly trained staff and an everyday reference for those working on real projects.
Book Description
A compelling vision. Bold leadership. Decisive action. Unfortunately, these prerequisites of success are almost always the ingredients of failure, too. In fact, most managers seeking to maximize their chances for glory are often unwittingly setting themselves up for ruin. The sad truth is that most companies have left their futures almost entirely to chance, and don’t even realize it. The reason? Managers feel they must make choices with far-reaching consequences today, but must base those choices on assumptions about a future they cannot predict. It is this collision between commitment and uncertainty that creates THE STRATEGY PARADOX.
This paradox sets up a ubiquitous but little-understood tradeoff. Because managers feel they must base their strategies on assumptions about an unknown future, the more ambitious of them hope their guesses will be right – or that they can somehow adapt to the turbulence that will arise. In fact, only a small number of lucky daredevils prosper, while many more unfortunate, but no less capable managers find themselves at the helms of sinking ships. Realizing this, even if only intuitively, most managers shy away from the bold commitments that success seems to demand, choosing instead timid, unremarkable strategies, sacrificing any chance at greatness for a better chance at mere survival.
Michael E. Raynor, coauthor of the bestselling The Innovator's Solution, explains how leaders can break this tradeoff and achieve results historically reserved for the fortunate few even as they reduce the risks they must accept in the pursuit of success. In the cutthroat world of competitive strategy, this is as close as you can come to getting something for nothing.
Drawing on leading-edge scholarship and extensive original research, Raynor’s revolutionary principle of Requisite Uncertainty yields a clutch of critical, counter-intuitive findings. Among them:
-- The Board should not evaluate the CEO based on the company’s performance, but instead on the firm’s strategic risk profile
-- The CEO should not drive results, but manage uncertainty
-- Business unit leaders should not focus on execution, but on making strategic choices
-- Line managers should not worry about strategic risk, but devote themselves to delivering on commitments
With detailed case studies of success and failure at Sony, Microsoft, Vivendi Universal, Johnson & Johnson, AT&T and other major companies in industries from financial services to energy, Raynor presents a concrete framework for strategic action that allows companies to seize today’s opportunities while simultaneously preparing for tomorrow’s promise.
Customer Reviews:
Requisite uncertainty and human capabilities.......2007-08-22
Zachary Stein ((Harvard Graduate School of Education) & Theo L. Dawson (Developmental Testing Service)
We agree with many of the other reviewers of this book. It combines high quality scholarship and accessibility, making it stand out from most of the popular leadership literature. But we think most of the other reviews have missed a key dimension of Raynor's model, a facet of his vision that sets it apart from the more traditional literature on strategies and organizations. With a nod to the research of Elliot Jaques, Raynor makes it clear that the proposed model of "requisite uncertainty" would have us build organizations that are sensitive both to the demands of the marketplace and the realities of human capabilities. We all know that organizations need to be responsive to socio-economic trends and uncertainties, but only a select few are privy to the notion that organizational hierarchies need to be designed in light of facts about human cognition and cognitive development. In our minds, this latter point is what sets the "Strategy Paradox" apart.
Individuals occupying different roles are faced with different demands. This we all know. But Raynor helps to clarify just who should be doing what, and moreover, what those at the top need to do to handle the unprecedented uncertainties of post-modern socio-economic conditions. As Raynor explains, these high-level demands cash out in terms of dialogically rich inquiry-based procedures for "crystallizing and preserving a diversity of opinions" regarding strategic options. Needless to say, that's a tall order that not just anybody can fill. What's preferable is not always possible. Our only criticism is that Raynor has too little to say about the cognitive capabilities that would make his vision possible. There is a rich literature about adult cognitive development and its measurement that Raynor does an inadequate job of referencing. Jaques and Kegan are the tip of a very complex iceberg. And frankly it's an iceberg that might sink this ship.
From where we sit, the model is incomplete without further consideration of the cognitive demands of "Strategic Flexibility." Any life-span cognitive developmental psychologist will tell you that less than 3% of the adult population in the developed world has the cognitive skills to meet these demands. We don't mean to rain on the parade, but for this model to work we need to ensure that those who engage in the highest levels of strategic planning are equipped with the requisite cognitive and discourse skills. Without them, real-world implementations will be less than stellar.
To sum up, our reading of the "Strategy Paradox" reveals a devil in the details. We think that Raynor's radical suggestions regarding human capabilities and organizational strata are the trend-setting elements of his model. Zeroing in on these suggestions exposes a formidable challenge.
Raynor has put time back into strategy.......2007-08-14
I won't repeat the powerful insights stated by many of the other positive reviewers. Read them yourself. They are special in their own right!
Raynor's latest book is beautifully written. It should all be savoured (slowly if necessary)...
The chapters which I believe Raynor will be truly remembered for are nestled in the middle (chapters 6-8). In these wonderful pages he rightfully restores "time" into strategy-making ("who stole time?", should indeed give rise to several more business books).
Leveraging Elliott Jaques' seminal work on time-spans of discretion, Raynor introduces "strategic flexibility" with compelling clarity and irrefutable logic. As an added bonus, he also illuminates the real role of corporate boards with such lucidity, that reading SOX prescriptions in future will seem sadly impoverished.
I have seen and heard Raynor speak in public. He is a virtuosic whirlwind on stage. Read this book. It is even better than the live performance.
Key Concepts Make it Worth Buying.......2007-08-08
I enjoyed The Strategy Paradox, and have added it to the Pearls of Wisdom page on my site. Powerful concepts in the hands of enlightened leaders, particularly those leading large organizations:
1. Extreme strategies do not come without risk
2. You don't have to predict the future to be successful
3. Divide responsibility for strategy formulation by time horizons
4. Give your organization a chance to adapt and succeed in the most likely future scenarios through options not commitment
In my mind if you get come away from a business book with one or more useful insights, then it was more than worth the time invested. This book is definitely worth the time if you are already (or aspire to be) a corporate leader or strategist.
Five star content!
Read this book before your competitors do.......2007-07-31
I have very high hopes for Raynor's book - it might force business practitioners to think more deeply about formulating real strategy and structuring the organization for competitive advantage. Most treatments of strategy address competitive dynamics (in the line of Porter), likewise positioning, or competency leverage (Collins). Raynor brings forward insights from his research and publishing in innovation (The Innovator's Solution), Harvard doctoral research, and the practical understanding that comes from actually consulting. While his book could anchor a top-notch MBA course, it might lead a good company's board to make much better strategic decisions.
I would not compare The Strategy Paradox with popular business books, such as The Long Tail or even Good to Great, but instead deeply-researched work like Alfred Chandler's. Raynor reveals the perils and promises of strategy formulation, the management of strategy and commitment, and the design and execution of strategic options. Keep in mind that most of what's published in journals and books is very loose, or even just junk research. Strategic management remains largely influenced, in the actual practice of corporate decision making, by Porter's 1980's work, resource allocation, and what I call Powerpoint SWOT. So who should care? Just about every executive and business unit-level manager. And, of course, educators and consultants focusing on business strategy and organizational dynamics.
It is one of the few works on competitive strategy that guides organizational structure as well as business positioning - not directly through guidance on design, but in terms of organizational function necessitated by requisite uncertainty. Raynor never mentions "strategic alignment," a troublesome notion from consulting with no good research support. Rather, he demonstrates how organizational focus on strategic action (as implied by "alignment") results from appropriate structural management, where uncertainty and commitment are appropriately weighted in the hierarchy. In time for Alfred Chandler's handoff to history with his passing in May, Raynor retrieves the original effectiveness of hierarchical management, and maps it functionally to uncertainty. This cleanly obviates the necessity for fuzzy nostrums such as "strategic alignment." (Or perhaps it saves it, for fans of alignment approaches).
Raynor explains complex business scenarios with a brisk storyline. The footnotes are a fascinating secondary read - the points are backed up by his research, Harvard studies, and dozens of well-cited papers. While optional to the main points, the research is actually useful and interesting. Some key concepts are novel in strategy research, such as the application of Elliott Jacques' work on requisite organization to support the principle of Requisite Uncertainty.
I highly recommend this book, and if you are an executive or board advisor, I urge you to read it before your competitors do.
The system encourages mediocrity........2007-07-23
Raynor's book is not the easiest read, but then again, that says more about the reader than it does about the book. The concept is rather revolutionary--and thus, difficult to digest immediately--in that it suggests almost everything we know about strategy and success is wrong. All the books, studies and anecdotes are comparing successful companies and mediocre companies instead of what they claim to do: compare success and failure. If they actually did compare the two, Raynor claims, you'd find a lot of similarities. That all too often, the keys to success are the recipes for failure. And that the people who we hold up as fearless leaders are really just one change in fate away from being the people we mock as losers. He's saying that this is inevitable, after all, how can a study include the business that started and failed and no one ever heard of? Thus, we only see wild success or middle of the road, bet hedgers.
Von Clauswitz talked of this too, saying that as we examine history, before we judge military defeats we must consider what our opinion would be had they succeeded. In other words, if the insurgent resistance in Iraq hadn't been so strong or if the WMD had materialized, would Bush's unilateral, undertrooped strategy be as derided as it is right now? Or if weather hadn't beaten back the Persians at Thermopylae, would we still think them arrogant and brash?
Accordingly, Rayor's book is a very unique look at some of the most illustrious examples of business failure. We see that some of Sony's biggest gaffs, had the market gone the way they'd hoped, would have been their biggest successes. This is true because of the theories two assumptions:
1) A successful strategy requires full commitment
2) Full commitment, in light of unpredictable futures, can mean catastrophic failure
And thus, the more you strategize, the more likely you are to be both massively successful and massively unsuccessful. The only middle ground--and often the most commonly taken--is mediocrity, where the company is neither successful or driven out of business.
Raynor poses a conclusion we often find ourselves also coming to:
"The only way [Company X] could have managed the situation any better is to have predicted the future...and that of course, is impossible. The future never gets here."
He sees strategies as equity or stock. You're purchasing the stock, and if you guessed right, you make money and if you guess wrong, you lose. The real way to succeed then, is to buy options on stocks. Essentially, to set up multiple, concurrent strategy options, from which you can then "agree to buy" the winners. These options then make your chosen strategy mobile in the face on an unpredictable future. This gives you strategic flexibility.
Overall, this was a very interesting book. The review deriding it above are to be expected--if we could all understand this, it wouldn't exactly be a paradox or problem would it? Pick it up and even if you don't understand every word, merely being cognizant of the dilemma would help you.
Book Description
A thoroughly revised second edition of the leader's concise guide to the process of creating and managing an organisation, no matter how complex, that will achieve unique competitive advantages and be poised to respond effectively and rapidly to customer demands.
In this book executives, managers, and consultants will find the concrete tools they need to select and implement an efficient design that creates superior and more competitive performance. In addition to analysing the four key forces shaping today's organisations -- buyer power, variety, change, and speed -- this new edition addresses the concerns of new economy by expanding on the section on the Flexible Organization and includes a new section on organising around the customer. The book:
- Describes what leaders can do to effect the change process
- Addresses the concerns of new economy companies
- Contains rich examples from successful companies
Customer Reviews:
applied the knowladge.......2006-02-23
i have read this book with a great deal of intrest. it was a great help in implementing change and designing a organization structure that is able to deliver on the new strategy.
excellent resource.......2003-09-06
Really good intro to ideas and concepts needed to redesign an organization in terms of its structure. Best if you already have some degree of experience in do it so you can really apply the concepts.
Guide to the factors that shape organizational design.......2002-12-28
Jay R. Galbraith is an internationally recognized expert on organization design. He is a Senior Research Scientist at the Center for Effective Organizations at the University of Southern California and Professor Emeritus at the International Institute for Management Development (IMD) in Lausanne, Switzerland. This book is a updated/revised edition of 'Designing Organizations' which was originally published in 1995. It is split up into 10 chapters.
Chapter 1 - Introduction - really sets the stage for the rest of the book. It discusses the six main organization shapers: the increase buyer power; increase in the number of products and services; the Internet; multiple dimensions (functions, products, and geography, but also customer segments, solutions or offerings, and channels and processes); the requirement for a capacity to change; and speed (in bringing products and services to the market).
The following two chapters discuss how companies have to shape their organizational design, strategy, and structure in order how to deal with these organization shapers. Galbraith introduces his copyrighted Star Model (Strategy, structure, people, rewards, and processes), which looks AND sounds very similar to McKinsey's 7-S framework. Chapters 4 and 5 build on these chapter and discuss how organizations have to link their processes to coordination needs and integrate group processes. Then, in Chapter 6 discusses the easily changeable or reconfigurable organization based on the Star Model, which, according to Galbraith, results from the skilled use of three capabilities: (1) forming teams and networks across organizational departments; (2) the use of internal prices, markets, and marketlike devices to coordinate the complexity of multiple teams; and (3) the forming of partnerships to secure capabilities that it does not have. Each of these capabilities are discussed in detail.
The Chapters 7 to 10 are all very current and fashionable. They discuss the organizing around the customer, customer-focused structures, the design of the virtual corporation, and organizing the continuous design process. Although the subjects discussed are important, some of the examples are too long and take up most of the chapters. Some of the examples also do not really apply to every company/organization but are too specific. Still, these are issues that should not be forgotten about, especially organizing around the customer remains important.
I must admit that I am somewhat disappointed with this book, which is written by a leading authority in the field of organizational design. I believe it is especially the title that lets the book down. It is not so much a guide into strategies and structures; it more discusses the organization shapers and the possibilities that companies/organizations have to tackle the organization shapers. I believe that the book is especially weak in discussing organizational design and structures. Galbraith discusses his own Star-model (which reminds me of McKinsey's 7-S framework) and his reconfigurable organization (the learning organization?), but leaves all other models/designs/structures untouched. I have not been generous, the book really deserves a 3.5-star rating. The author uses simple business US-English.
Book Description
The world's most exciting, fastest-growing new market? It's where you least expect it: at the bottom of the pyramid. Collectively, the world's billions of poor people have immense entrepreneurial capabilities and buying power. You can learn how to serve them and help millions of the world's poorest people escape poverty.
It is being done-profitably. Whether you're a business leader or an anti-poverty activist, business guru Prahalad shows why you can't afford to ignore "Bottom of the Pyramid" (BOP) markets.
In the book and accompanying CD videos, Prahalad presents...
Why what you know about BOP markets is wrong A world of surprises-from spending patterns to distribution and marketing
Unlocking the "poverty penalty"
The most enduring contributions your company can make Delivering dignity, empowerment, and choice-not just products
Corporations and BOP entrepreneurs Profiting together from an inclusive new capitalism
"C. K. Prahalad argues that companies must revolutionize how they dobusiness in developing countries if both sides of that economic equation areto prosper. Drawing on a wealth of case studies, his compelling new bookoffers an intriguing blueprint for how to fight poverty with profitability." Bill Gates, Chairman and Chief Software Architect,Microsoft
"The Bottom of the Pyramid belongs at the top of the reading list forbusiness people, academics, and experts pursuing the elusive goal ofsustainable growth in the developing world. C. K. Prahalad writes withuncommon insight about consumer needs in poor societies andopportunities for the private sector to serve important public purposes whileenhancing its own bottom line. If you are looking for fresh thinking aboutemerging markets, your search is ended. This is the book for you." Madeleine K. Albright, Former U.S. Secretary of State
"Prahalad challenges readers to re-evaluate their pre-conceived notionsabout the commercial opportunities in serving the relatively poor nations ofthe world. The Bottom of the Pyramid highlights the way to commercialsuccess and societal improvement--but only if the developed worldreconceives the way it delivers products and services to the developingworld." Christopher Rodrigues, CEO, Visa International
"An important and insightful work showing persuasively how the privatesector can be put at the center of development, not just as a rhetoricalflourish but as a real engine of jobs and services for the poor." Mark Malloch Brown, Administrator, United Nations Development Programme
Customer Reviews:
Saving the World.......2007-10-02
The author loves his TLA's (3 letter acronyms)! I wish someone had told me how technical this book was; those with an MBA will get the most out of it. But I love Prahalad's outlook and creativity. Perhaps with a little advice I can take my ideas and come up with a formal business plan.
Extraordinary claims require extraordinary evidence, and anecdotal evidence is not proof.......2007-06-24
Last year this book became a best seller hit among the developmental community at Washington, D.C., to the point that all bookstores at Metro DC run out of it. With notorious and well publicized praising comments from Madeleine Albright, Bill Gates and the like, I bought it too, but just to discover all the frenzy was undeserved from the viewpoint of poverty eradication.
Undoubtedly Mr. Pralhad's research demonstrates there are plenty of opportunities to do good business among the poor at the BOP (bottom of the pyramid), for them to benefit from the products and services not available now, and for some of them to go out of poverty by becoming entrepreneurs (market penetration is always limited). I agree on these conclusions, as commented extensively by the previous reviewers, and without a doubt this book will become a reference in many Business Schools. But to assert that this strategy will eradicate poverty and bring development is plain sophistry. As Carl Sagan said "Extraordinary claims require extraordinary evidence".
Why sophistry? Regarding the poverty eradication claimed by Mr. Prahalad I will try to highlight some of the main flaws in his rationale and lack of sufficient evidence:
1. Despite the consideration of several cases from around the Third-World, most of the discussion and arguments to build the framework are related to India, excessively. The conditions of the poor in Latin America are quite different, and often, they have better public services available to them. On the other hand, many African countries have worst conditions. So you can not reach valid conclusions based solely on a country with such unique cultural and ethnical conditions. For doing business the cases are fine, especially for India or China because they are such huge markets at the BOP.
2. Wealth creation is hugely overestimated. Poor entrepreneurs and their immediate family will undoubtedly benefit from these new economic activities, but the framework lacks an explanation about how these oases of welcomed capitalism will trickle-down to the rest of their neighbors and poor villages. The implicit assumption is that everybody at the BOP has to become an entrepreneur for this strategy to work, because by just having access to affordable consumer products it seems very unlikely that poverty will be eradicated. The proposed framework is just good for doing business and for the poor to have access to new services and products, but where is the sustainable "fishing industry" for the rest of the poor population? The cases are very unique, islands of excellence, and with limited potential for a population the huge size of the BOT to bail out of poverty in significant numbers.
3. The analysis lacks the historical, cultural, legal and socio-economical background for a given country or region, and this consideration is fundamental for a proper analysis on sustainable development. Even when Mr. Pralhalad correctly identifies lack of education, corruption and the size of the informal sector as barriers for development and doing business, he then oversimplifies a lot on how to overcome these key issues, and again, an isolated Indian case is used as the magic formula to solve the problem through information technology. In fact, at the end of Chapter 6, within the conclusions, he recognizes that the illustrations he provides "are but islands of excellence in a sea of deprivation and helplessness". As the development community knows well, these successful stories are very hard to replicate. In Latin America we have the outstanding cases of Chile, Uruguay and Costa Rica. In Brazil, we have the cases of the Southern states of Santa Catarina, Paraná, São Paulo and Rio Grande do Sul. All of them very developed as compared to their neighbors (in terms of income, education, health, etc.), but despite all efforts, no one has successfully reproduced these islands of excellence at a scale that makes a difference.
4. An example will help to understand how superficial the cases are from a point of view of development and poverty eradication. The Brazilian case of "Casas Bahia" lacks the consideration of the socio-economic environment of the country, especially the case omits to mention key characteristics of the financial and credit markets (for those interested in this particular case from the point of view of business, I recommend you read "Samuel Klein e Casas Bahia: Uma trajetoria de Sucesso", Novo Seculo, 2005, this is a real and really impressive business success story). Mr. Klein successfully, by trusting the poor, built an empire that today is still one of the few option many mid- and low-income families have to buy the first computer for their children going to college in Brazil. But, let's see why the market share for credit cards is only 4%, and why it is not a real threat for Casas Bahia own financial system as stated in the book, as well as why there is not much in here to help eradicat poverty in Brazil. Annual inflation today in Brazil is in the order of 3-4%, and the Brazilian currency, the "Real" have been steadily revaluating against the dollar for the last 3 years. However, interest rates in Brazil are sky-high, a legacy of the hyper-inflation times of twenty years ago. Interest rates for well-known international credit cards are 9-11% per month, which compounded translates to an annual rate close to 180%, regardless of whether you're poor or rich. Today retail chain stores of this type charge around 3% per month, embedded in the price of the consumer products, so the consumer doesn't know up-front the real price. This translates to a compounded rate of 43% per year. Often if you try to pay upfront, there is no discount. So where is the real benefit for the poor? Or are they just getting every day more indebted, and spending money on fat interests that they could have used to buy more or better food or better health services for their kids. I do not see where poverty eradication fits in this case. Obviously Brazil has a problem of lack of real competition in the capitalist sense; even the branches of American Banks doing business in Brazil charge these exorbitant rates. As a reference for the readers, you can buy a 30Gb iPod in Brazil for the "reasonable" amount of US$1,000, payable in 12 installments, and for the high price we also have to thank the federal government high taxes on almost everything. Coming back to the case, as an additional "benefit", you only can make the payments in person at stores of the retail chain, just to make sure the poor are tempted every month and come back for more when they are close to payback that debt. That's why there is a 77% of clients who make reapeat purchases as the book reports. Not surprisingly the case description mentions the criticism "that Casas Bahia simply exploits the poor and charges them exorbitant interest rates", but neglects to present a due explanation of why this is not truth, and simply disregards the cristicism.
5. Finally, Mr. Prahalad is extremely optimistic. At he end of Chapter 6 and in his own words: "I have no doubt that the elimination of poverty and deprivation is possible by 2020". This prophecy speaks by itself about the reliability of the analysis. And again, let's remember that extraordinary claims require extraordinary evidence. All the book presents is anecdotal evidence, which is not proof as any scientist knows, and the framework presented has no predictive power, much less to assert that poverty will end by 2020.
Unquestionably an excellent business book, and a very innovative one, but just for that, business. That's why to me it only deserves 3 stars. On the other hand, not much value-added in there for doing real sustainable development across the board, as the author insinuates and some of the readers think, and certainly not much for real poverty eradication. For that outrageous addition to the book's title I took the other 2 stars. The "Erradicating poverty through profits" part of the book's title should be erased, so the book really deserves the 5 stars most reviewers gave to it (and as the previous reviewer rightly complained, the cases were really awfully edited for the paperback edition, even with repeated sentences). Definitely this book is not recommended if you are serious about new ideas for sustainable development. For a real book on that subject, read the recently publicated "The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It" by Paul Collier, though its scope refers mainly to very poor African countries, it is an example of a serious and proper approach to the problem of eradicating poverty. To understand the complexities of promoting development, you may also read "Making Globalization Work" by Joseph Stiglitz. These two books will clearly ilustrate why "The Fortune at the BOP" is not a book on development, and absolutely, no Nobel Prize is deserved.
Hardcover and tradepaperback are different!!!.......2007-04-13
Here is a note I sent to the editor after buying the tradepaperback version.
Your editorial staff has done something so dumb I am astounded! (Also really $%^& mad.) The hardcover and trade paperback versions of CK Prahalad - The fortune at the bottom of the pyramid, are NOT the same. I assigned readings from this book to my class of 100 students. They went and bought the book and found that the case studies aren't there. On closer investigation I see that you shortened the case studies and renamed the chapters. Unfortunately the editing on the shortening is terrible and I simply can't ask my students to read such badly written material.
You did several things wrong
1) You sell two books with identical titles and covers, which have different content
2) You edited very very badly
3) You did this on an award winning book with high visibility
As far as I can tell there is no way for anyone to figure out that the content is different except in the very rare case that they own both versions.
This is a black mark on the Wharton name. What were you thinking?
-james
at last a pragmatic approach to develpment.......2007-01-09
Prahalad'book "the fortune at the bottom of the pyramid" demonstrates the importance to get the people we are "supposed" to help to get involved. The bottom up approach is in line with William Shaffeerly and David Bornstein books where the people are key to any lasting development. The top down approach a la Jeffrey Sacks are fine for the politicians but did not bring much results after all these years. It is time for a change in approach and the Nobel Price to Dr. M.Yunus is very encouraging.
Magical .......2006-08-29
FBP is an intriguing concept and the model can be scaled up or down in size in all parts of the world. The book serves as a wake up call to businessmen across the world.
Book Description
Hax and Mailuf offer a pragmatic approach to strategic management, offering practicing managers and business readers a disciplined process that facilitates the formulation and implementation of strategy.
Most comprehensive, integrated, explicit approach to strategy formulation; Proctor & Gamble used as a running case throughout the text. Other real world examples include NKK and Merck; global perspective, companies are drawn from all over the world.
Customer Reviews:
The Strategy Concept and Process.......2002-04-02
Need to know about the fundamental concept and process in Strategy? read this book, you will find a comprehensive description in "easy to understand" language, even that you're a beginner in Strategic Management. This book is a usefull guide for anyone, no matter you're a undergraduate, Graduate or Doctoral student. A state of the art of Strategic Management.
Learn To Develop a Strategic Plan and Capture the Essence.......2000-10-05
Basically, this book aims at making strategy concepts and techniques very clear to readers. In this book, strategy concepts were translated into well-considered formulations.
While reading book, you will see this property many times and it will help you better understand the abstract concepts. When you finished the book, you will be able to place your strategy theory on a strong base. No longer you will think that "Strategy Is a Staff Work." This book will give you the framework in which strategic plans are developed.
And lastly, you will find a lot of cases related to the theory in this invaluable book. I higly recommend..
very usefull in the field.......1999-04-06
Very exciting knowledge from the expert
A clear and compehensive methodology to make a strategy.......1998-08-03
The book present a clear and comprehensive methodology to make a strategy at three levels: corporate, business and functional. Include the Porter and BCG analysis. The method explain each step to make a complete analysis of the business before the formulation of the strategy. Each step is practical and adaptive to any kind of business.
Good to Great and the Social Sectors: A Monograph to Accompany Good to Great
Built to Last: Successful Habits of Visionary Companies
The 7 Habits of Highly Effective People
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The World Is Flat [Updated and Expanded]: A Brief History of the Twenty-first Century
Execution: The Discipline of Getting Things Done
