Whenever someone wonders how I could have written 57 books, I remind them that Isaac Asimov wrote 500 books. I like Asimov's view that great insight comes from seeing something as odd and finding out why. Curiosity is the starting point for great science.
I found marketing to be highly descriptive and prescriptive, without much of a foundation in deep research. I brought in economics, organization theory, mathematics, and social psychology in my first edition of Marketing Management in 1967. Today Marketing Management is in its 15th edition and remains the world's leading textbook on marketing in MBA programs. Subsequently, I wrote two more textbooks, Principles of Marketing and Marketing: an Introduction.
My parents, and their interest in making the world a better place for more people inspired me.
The key solution is to invest in innovation and entrepreneurship within the company. Reducing waste - although probably not eliminating it - and do so at all levels of government would probably generate the capital needed. Alas, that will probably not happen because it makes too much sense.
CEOs need to produce continuous growth in sales and profits. Yet they must also invest in sustainability and social responsibility, which then leave them less money for financing their growth.
Leaders such as Alexander the Great, Napoleon, Franklin D. Roosevelt and others promulgated a vision and a moving story of how their people could achieve a great purpose.
People are more comfortable with the familiar. It takes selling a big dream that comes with excellent income possibility to get someone to leave his or her comfort zone.
When managers overdo micromanaging of others, they probably hired the wrong people or failed to give them a clear idea of what each one is to accomplish. I prefer to train employees to be self-managers, just as in an orchestra each performer knows his or her role without being micromanaged.
A great leader is one who surrounds himself with great people who then, collectively, innovate and implement with success. If he tries to do it all by himself, he is an egotist and likely to fail.
The Republican Party has consistently opposed Obamacare (as costing more), stimulus spending (as increasing inflation), etc., none of which has happened in spite of seven years of their warnings. Their main problem is that they don't have the character to admit that they are wrong. They don't have enough character to rethink their deeply held assumptions.
When it comes to efficiency and effectiveness, I would always start with effectiveness. I am interested in achieving a certain outcome. Only secondarily do I worry about achieving it as efficiently as possible.
Curiosity is the starting point for great science.
Thomas Edison had great visions (for lights, music players, movies, etc.) but he knew they didn't count until he could make them work. His statement that creativity is 99% perspiration makes that point. Consider how much time he spent trying to make a synthetic rubber material for tires and never stopped trying but he never succeeded.
Whenever someone wonders how I could have written 57 books, I remind them that Isaac Asimov wrote 500 books.
Great insight comes from seeing something as odd and finding out why.
Republicans talk loudly about freedom and yet are against a women deciding what's best for her own body and are against the freedom of two people of the same sex to marry.
Strategy is indeed about choosing what not to do as well as what to do. A business unit needs to decide what need it aims to satisfy in what group of people and with what value proposition that distinguishes the business from its competitors.
Many great ideas need refreshment and deeper analysis. "Freedom," for example, is a great idea but it has become a cliché.
I believe in the triple bottom line: people, planet, and profits. I would make sure to hire the best people and pay them more than my competitors. I would encourage their participation in decision making and hope that they can feel free to disagree with me.
I admire firms that have achieved a real differentiation from their competitors. Nike is all about mastering sports. Apple is all about creating technologies to make life easier and better. Audi is is all about introducing new technologies to make automobiles safer and better performing.
I admire companies that have a purpose, passion, and performance. I am a fan of Unilever under its CEO Paul Polman, not only for the company's insights into women and men when they buy beauty products or skin products (the DOVE woman, the AXE man), but also as a company seeking to achieve both growth and practicing social responsibility.
We need to take a close look at the relationship between the economic system of Capitalism and the political system of Democracy. A democracy with high concentrations of private wealth buys votes and interferes with the ability of Capitalism to perform well. It is no longer one citizen, one vote.
My primary early interest was in marketing and my aim was to improve its theories, methods and tools. Early on I pressed companies to adopt a consumer orientation and to be in the value creation business. I didn't pay much attention to the social responsibilities of business until later. Now I am pressing companies to address the triple bottom line: people, the planet, and profits. I found that companies were too much into short term profit maximization and they needed to invest more in sustainability thinking.
A person without an Apple watch is perfectly content with his present watch but when he sees his friends buying the watch, he will hanker for an Apple watch. The endless cycle of wanting, getting, and wanting again is part of the plot of Capitalism. It is the way Capitalism creates jobs. The only antidote is Buddhism that holds that people might be happier by renouncing desire rather than by striving to satisfy desire. But then how can the economy create enough jobs in a Buddhist society of "less is more."
The CEO announces that the purpose of the firm is to improve the lives of the customers and the lives of the firm's stakeholders and the quality of the planet. The company will give fair compensation to all the stakeholders and the CEO will not earn more than 20 times the median income of his employees. He will want his employees to rate him, just as he also has to rate them.
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