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Design Science Research in Information and Technology (DESRIST) Conference, Claremont Graduate University (CGU)
Dr. Peter Freeman's keynote lecture Part 1 From Google Video 36min 57sec
Dr. Peter Freeman's keynote lecture Part 2 From Google Video 29min 11sec
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Leader to Leader |
Farewell, Peter Drucker: A Tribute to an Intellectual
Giant
Decades
ago, Peter F. Drucker single-handedly began the exploration
of what he called "the dark continent of management." That
exploration, which gave birth to the field of management,
came to an end on November 11 when Drucker passed away at
age 95. Wharton professors point out that Drucker's most
important contributions are grounded in his writings on
management and marketing. Despite his death, his legacy and
impact as a role model will last.
Leader to Leader Institute:
A Tribute to Peter F. Drucker (1909-2005)
Peter Drucker's Wharton lecture on "The New Organization"
Managing Knowledge Means Managing Oneself
Managing
Knowledge Means Managing Oneself
by Peter F. Drucker
In a few hundred years, when the history of our time will be written from a long-term perspective, it is likely that the most important event historians will see is not technology, not the Internet, not e-commerce. It is an unprecedented change in the human condition. For the first time -- literally -- substantial and rapidly growing numbers of people have choices. For the first time, they will have to manage themselves. And society is totally unprepared for it. More..
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Leader Articles
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STRATEGY+BUSINESS |
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Building
a Better Matchmaker
How a “customer-sensing capability” can connect
people to the cars — and other purchases — of their dreams.
When
Art Meets Science: The Challenge of ROI Marketing
These days, there’s more pressure than ever to make
marketing more of a quantifiable science than an ephemeral art. In response, a
new management discipline called ROI marketing is emerging to help businesses
attain the highest possible return on their marketing investments.
- Podcast: George Day: Keeping an Eye on Distant Events that Can Make or Break Your Company In Wharton marketing professor George Day's world, the term "peripheral vision" means the ability of companies to detect, interpret and act on distant signals, whether a rumor heard about a new rival, a newspaper article about a new medical device, or the popularity of a blog started by a dissatisfied customer. Day and co-author Paul Schoemaker have written a book entitled, appropriately enough, Peripheral Vision: Detecting the Weak Signals That Will Make or Break Your Company, designed to help firms avoid being blindsided by unexpected events. According to the authors, only 20% of companies have succeeded in developing peripheral vision well enough to stay ahead of their competitors. Day talked with Knowledge@Wharton's Mukul Pandya and Robbie Shell about his book.
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Podcast: John Paul MacDuffie on Car Trouble: From Higher Gas Prices to
Hybrids, and More..
Almost anyone who has been following the auto industry, especially in the U.S., will agree that lately it has had a bumpy ride. For one thing, the difficulties of GM and Ford have filled the headlines for several months now, and there has been lots of speculation about how severe these problems are. In addition, the auto parts maker Delphi, which was spun off from GM in 1999, is now in the midst of bankruptcy proceedings and actively negotiating with both the United Auto Workers union and GM. Yet another challenge is growing global competition: Virtually all the Japanese brands are showing an increase in market share in the U.S. And finally, questions continue to persist about advances in technology, especially as they concern the new hybrid models. John Paul MacDuffie, a professor of management at Wharton and co-director of the International Motor Vehicle Program, spoke about these issues with Knowledge@Wharton's Mukul Pandya and Robbie Shell.
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Auto Industry Consolidation: Is There a New Model on the Horizon?
The turmoil and uncertainty among auto manufacturers and their suppliers have left people wondering when a shakeout can be expected. Two experts who follow the auto sector say consolidation will take place among suppliers to a much greater extent than among carmakers, which may not experience mergers and acquisitions at all in the near term but will be engaged in ever-shifting strategic alliances and joint ventures.
In particular, some private-equity firms are hungrily eyeing auto supply companies for investment opportunities, according to Wharton management professor John Paul MacDuffie and Christopher Benko, director of the PricewaterhouseCoopers Automotive Institute in Detroit.
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The 2006 Gadget Parade: A New Era of Convergence and Convenience
Apple's iPod again ruled beneath the Christmas tree in 2005 after the latest model of the iconic music player was outfitted with a video screen. And as the new year begins, a long-anticipated era of convergence in consumer technology products draws closer, according to Wharton faculty and technology analysts. Meanwhile, cell phones that play video, e-mail delivered to handheld computers, telephone conversations over the PC -- and hundreds of other glimpses into Christmas future -- were on display at the annual Consumer Electronics Show in Las Vegas last week where the stepped-up presence of digital giants, including Microsoft, Google, Yahoo and Intel, signaled their ever-increasing interest in expanding from the office into consumers' living rooms.
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Oracle's Acquisition Binge: Trying to Cover All Its (Data) Bases
For Oracle, the past few months have been one big shopping spree. On January 31, the enterprise software giant purchased longtime rival Siebel Systems, the leading provider of customer relationship management software. On February 14, it acquired Sleepycat, an "open source" database maker; two days later it bought HotSip AB, a Swedish telecommunications software provider. For many companies, Oracle's month would have been a year's worth of merger and acquisition activity, but for the Redwood Shores, Calif.-based firm, it's the norm. Oracle CEO Larry Ellison made a big splash in 2004 by announcing he would consolidate the software industry, starting with archrival PeopleSoft, and he has been true to his word. The real test, however, lies ahead: Can Oracle attract new customers?
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Delhi in Davos: How India Built its Brand at the World Economic Forum
The emergence of China and India figured prominently at the World Economic Forum annual meeting in Davos last month. In India's case, however, another factor also was at work. Determined not to be overshadowed, Indian business and government leaders spent some two years and $4 million planning an elaborate branding campaign to ensure that the "India story" got prominent play and did not get lost amid the chatter at Davos. How does a country go about building its brand though such PR campaigns? And how can outcomes be measured to see if the campaign worked? Wharton professors who were at Davos and Indian business and government leaders say that while India's campaign at the summit was impressive, the country will now have to walk the talk on infrastructure investments and policy reforms if it wants to retain its credibility.
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Beware of Dissatisfied Consumers: They Like to Blab
When consumers have a bad shopping experience, they are likely to spread the word, not to the store manager or salesperson, but to friends, family and colleagues. Overall, if 100 people have a bad experience, a retailer stands to lose between 32 and 36 current or potential customers. These are some of the conclusions of The Retail Customer Dissatisfaction Study 2006, conducted by The Jay H. Baker Retailing Initiative at Wharton and The Verde Group, a Toronto consulting firm, in the weeks before and after Christmas 2005. The biggest source of consumer dissatisfaction? Parking lots.
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The McKinseyQuarterly |
- Using IT to boost call-center performance Web exclusive, March 2006. Call centers, making targeted improvements involving more cost-effective technologies, are finally saving money and improving revenues with IT.
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Building a top consumer goods sales force Web exclusive, February 2006 Although most of these companies have recently revamped their sales organizations, only a few managed to achieve higher sales and lower costs.
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Fighting cannibalization 2006 Number 1 Optimization techniques used to plan operations can also be applied to sales and marketing.
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When your competitor delivers more for less Companies offering the powerful combination of low prices and high quality have captured the hearts and wallets of consumers in the United States and Europe. This economy-wide shift to value cuts across most ages, consumer segments, and income groups. The consequences can be dire for incumbents. To compete they will have to find sources of differentiation, keep costs in line, and manage pricing effectively—tactics that competitors of all stripes must employ with greater intensity and focus.
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Drucker on Communication
Peter Drucker invented the field of management studies, and he has been on the cutting edge ever since. Just look at his assessment of what the changes in electronic communication would mean to business: “Until now, electronic communication has largely adapted itself to the traditional definition of voice, vision and graphics as distinct separate kinds of communication. From now on electronics will increasingly produce total communications.... It will make possible simultaneous and instantaneous electronic transmission of voice, of vision, and of graphics (such as documents or charts). This will enable people in 25 places anywhere on the face of the globe to be in one visual place where they can talk to each other directly, see each other, and if need be share the same reports, the same documents, the same graphs simultaneously, without leaving their office or home.” That is from his book, Managing in Turbulent Times, published in 1980 — years before anyone understood the potential of the World Wide Web. And, just as he has been able to see ahead of the curve on the capabilities of machines, so he has clearly understood the difficulties and importance of communication in the workplace. As he says, “The communications gap within institutions and between groups in society has been widening steadily — to the point where it threatens to become an unbridgeable gulf of total misunderstanding.” Fortunately, Drucker is also willing to help us solve the problems he points out. Herewith five rules of communication from the Mahatma of Management to help us span the gulf. 1 Technology isn’t communication. While no Luddite, Drucker has never confused technology with communication. As he says in The Frontiers of Management: “The information-based organization does not actually require advanced ‘information technology.’ All it requires is the willingness to ask, Who requires what information, when and where? With nothing more high tech than the quill pen, the British asked those questions in India two hundred years ago and came out with the world’s flattest organization structure in which four levels of management staffed by fewer than a thousand Britons — most of them youngsters barely out of their teens and ‘lower middle management’ — efficiently ruled a subcontinent.” Drucker points out that the question — Who requires what information? — must be asked by any company building its organization around information technology. He even suggests using it as an organizational razor: “Management positions and management layers whose main duty it has been to report rather than to do can be scrapped.” 2 Communication is perception. Drucker argues that the best someone can do when writing or speaking is “make it possible, or impossible, for a recipient...to perceive.” Perception is based not on logic, but on experience. For example, if you say to someone, “I like you a lot,” but say it with your back toward them or with a growl in your voice — he or she will pay attention not to your words but to how they are said. They will perceive you are not sincere, no matter what message your words are meant to convey. In short, the effective communicator will ask not just what am I trying to say, but how will it be understood by the person I am communicating with? Or, as Drucker puts it in Technology, Management & Society: “In communicating, whatever the medium, the first question has to be, ‘Is this communication within the recipient’s range of perception? Can he receive it?’ “Communication...always makes demands. It always demands that the recipient become somebody, do something, believe something. It always appeals to motivation. If, in other words, communication fits in with the aspirations, the values, the purposes of the recipient, it is powerful. If it goes against his aspirations, his values, his motivations, it is likely not to be received at all, or, at best, to be resisted.” 3 Communication can’t just go in one direction. What’s the key to good communication? Listening. What’s the first thing you need to do? Listen. As Drucker says, “We have been working at communication downward from management to employees, from the superior to the subordinate. But communications are practically impossible if they are based on the downward relationship.” The harder you try to say something to your underling, the more likely he or she will mis-hear it. Instead, that person will hear what he or she expects to hear rather than what is being said. What you need to do then, Drucker says in The Effective Executive, is ask, “What are the contributions for which this organization and I, your superior, should hold you accountable? What should we expect of you? What is the best utilization of your knowledge and your ability?” By listening to the person’s answer you will then know what he or she can or cannot perceive or hear. And then, he says, “communication becomes possible, indeed becomes easy.” 4 Communication and information are totally different, but interdependent. Communication is what happens when we transmit — through writing, talking, or whatever — information to someone else. While we can be reasonably sure what we are transmitting to one person, as the number of people increases, so does the likelihood of being misunderstood. In The Effective Executive, Drucker points out that the information revolution actually makes this more difficult. “Throughout the ages the problem has always been how to get ‘communication’ out of ‘information.’ Because information had to be handled and transmitted by people, it was always distorted by communications; that is, by opinion, impression, comment, judgment, bias, and so on. Now suddenly we are in a situation in which information is largely impersonal and, therefore, without any communications content. It is pure information. “The more we automate information-handling, the more we will have to create opportunities for effective direct communication.” 5 If you don’t learn to communicate well, you don’t get to do anything that’s fun. Most of us believe that if you can’t communicate well, you won’t be an efficient, effective executive. In Managing in a Time of Great Change, Drucker points out the more important fact that if you don’t communicate well, you won’t get to do those things you actually enjoy doing, the things that make you really want to go to work each day. “We are one hundred years past the simple economy in which most people know what others did at work. Farmers knew what most farmers did, and industrial workers knew what other factory workers did....No one needed to explain. But now no one knows what others do, even within the same organization. Everybody you work with needs to know your priorities. If you don’t ask and you don’t tell, your peers and subordinates will guess incorrectly.” Thus, Drucker concludes, “When you don’t communicate, you don’t get to the things you are good at,” because you’ll have to do someone else’s job, or fix someone else’s mistake. And he goes on to say that, “People seldom pay attention to their strengths. For example, after thinking for a long time, an engineer told me he’s really good at the first design, at the basic idea, but not at filling in the details for the final product. Until then, he’d never told anybody, not even himself.”
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INSEAD |
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- Quo Vadis, Automotive Industry? Four Possible Scenarios for the Evolution of the Automobile. Christoph Loch, Markus Seidel, Satjiv Chahil. Change & Innovation, Automotive, Globalization. Working Paper , 2004/57/TM
- The Evolving WWW Network Formation and the Structure of the Commercial World Wide Web. Miklos Sarvary, Zsolt Katona. Marketing, Communication Technologies, Globalization Working Paper , 2006/04/MKT
- A Surprise in the Price of Knowledge Competitive Pricing of Information: A Longitudinal Experiment. Markus Christen, Miklos Sarvary. Globalization, Communication Technologies, Marketing. Working Paper , 2006/11/MKT
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DOWNLOAD THE 53-PAGE AD AGE FACTPACK
2006 Quick Reference Synopsis of the Year's Marketing and Advertising Data
Published: February 27, 2006
CHICAGO (AdAge.com) -- General Motors Corp. is the top marketer by ad spending in the U.S. but who ranks first on a global basis? A spot for Fox TV's "American Idol" on Wednesdays at prime time commands the most dollars per 30-seconds ($518,466), but how much more is that than a spot for runner-up "CSI:Crime Scene Investigation" on CBS the following night? And what about that growth in a Super Bowl 30-second spot since the $42,000 average cost paid at Super Bowl I in 1967? Omnicom Group may be the world's biggest marketing organization but how do its agency networks stack up against their competition? How big and far-reaching are those multifaceted media goliaths? It's all in the Ad Age FactPack, whether in print form on your desk, or a click away on your computer or network.
The FactPack is organized in three sections:
Advertising
Advertising and Marketing section data were taken from Advertising Age's
50th annual 100 Leading National Advertisers, and the publication's 200
Megabrand and Global Marketing reports. The 100 LNA report breaks out total ad
spending by media for the largest U.S. advertisers and adds an Ad
Age-proprietary unmeasured number to media spending for a comprehensive U.S. ad
total. The LNA report also charts hotly contested industry categories by U.S.
market share and brand spending, and lists agencies serving brands of each top
100 marketer.
Media
The Media section's primary sources are the 100 Leading Media Companies, an
annual ranking of the nation's media companies by net revenue, and the Ad Age
Magazine 300 report, an annual ranking of leading consumer and trade magazines
by their combined gross revenue from advertising and circulation.
Ad agencies
The Agency Report section draws its content from Ad Age's 61st annual Agency
Report, which ranks by revenue nearly 500 U.S. agency brands, the leading U.S.
specialty and multicultural shops, the top 10 global agency brands and the
world's top 50 marketing organizations -- the top four alone accounting for 56%
of U.S. marketing communications spending. The Agency Report also ranks by
billings the top media specialist companies in the U.S. and on an international
and global basis.
Free digital download
A free .pdf edition of the full FactPack can be downloaded above.
