Brand New View

The Olympics and Business Schools

BusinessWeek has an article today on how several business schools are taking advantage of the 2012 London Olympics as a way to directly expose MBA students to a mega-sports event. The article is a useful reminder of the ways business education can be applied  to current business events like the Olympics. The schools mentioned should be applauded for their efforts to make the Olympics a great laboratory for learning how to manage a complex organization. 

The Olympics' Role in Fostering National Pride

One of the points I discuss in my forthcoming book, The Olympic Games Effect (2nd edition), is that the Olympics spur national pride, an intangible benefit that reinforces the prestige and allure of the Games. A recent BBCNews article echoes this same point, based on a poll by Globescan of over 20,000 from countries around the world. Interestingly, despite being the host of the forthcoming Olymics in London, 50% of UK respondents said the Olympics were important to their national pride, whereas more than 70% of Peruvians, and over 80% of Chinese, believed the Olympics affected national pride. Poll findings in other countries also indicate that the Olympics positively affect national pride,  suggesting that the Olympics are alive and still very well received around the world, an inspiring result in an era of economic, environmental and political turmoil.

Rejuventation

A bit of a commercial message in this post...

Two quick items to update:

First, the manuscript for the 2nd edition of The Olympic Games Effect, updated and revised for the London 2012 Olympics, is being prepared by my publisher, John Wiley & Sons, for early 2012 publication. You can pre-order it now at Amazon.

Second, as mentioned in an earlier post, Brand New View continues to grow, including an amazing leadership team. We continue to offer outstanding executive education programs, both independently and in collaboration with other institutions (just concluded a program for China Mobile in Guangzhou, China). We are also engaged in investments in higher education, with new projects in Asia and North America. We also have the collected published works of our leadership team on the site as well. We have revised our website to reflect this, so check it out.

TEDx Conference Shanghai

I had the good fortune to speak at the TEDx conference in Shanghai on May 15. Called TedxFiveStarSquare (http://www.tedxfivestarsquare.com/), it was a remarkable event with an amazing range of speakers and attendees. My topic was about ‘Stateless Brands’-which are organizations that have transcended the confines of home country boundaries and associations, elevating and shaping their reputations in a way that appeals to a wide audience around the world and, most importantly, are recognized for making meaning, and not just products. Once the final videos are uploaded to the TED site, I will provide links in my blog and website. Nearly 500 people attended, so the turnout was strong. The experiences the other speakers shared were inspiring to say the least. From David Redic (who wrote President Obama’s Presidential theme) to Danielle Ruan of CocoMat China to Frank Yu of Kwestr, and many more, this TEDx conference did what all TED conferences do--stimulated, provoked and delighted all. Peter Yao was the promoter responsible for this event and he did a world class job. It is easy to see why TED has become one of the most influential events in the world-the range of talent it attracts is nothing short of extraordinary. TED is one of the more remarkable ‘brands’ in the global events marketplace.

 

Today's Flavor is...Politics over Policy

Tonight's announcement by President Obama about his proposed spending freeze eliminates any remaining chance of seeing additional stimulus to support the still struggling economy. On the one hand, this makes for good political theater since it puts the Republicans on the defensive (albeit temporarily). They will be hard-pressed to claim Obama is a reckless spender, especially considering the previous administration was one of the most profligate in history. In fact, his proposed budget freeze may force Republicans to announce their own budget cuts. But the problem is that defense spending, social security, and medicare/medicaid cuts are off the table, and they are enormous chunks of the Federal budget. Furthermore, spending cuts are only part of the equation--revenue increases are needed, and those come from taxes. But raising taxes right now would be political suicide, plus untenable from a practical perspective given the state of the economy. Still, the spending freeze is an interesting political move. Still worse, it seems like a questionable policy move. Yesterday, Obama said that he would rather be a good 1 term president versus a mediocre 2 term president. But his spending freeze announcement risks making him a mediocre 1 term president. Let me be clear: I am not a fan of out-sized government spending. But because of the financial crisis, the housing marketing collapse, and the glacial pace of private lending, the simple fact is that fiscal stimulus was and still is badly needed to stimulate viable economic growth. But it was not enough. And with today's spending freeze announcement, It will be very hard for Obama to propose new energy legislation, technology incentives, education improvements, domestic infrastructure investments, and climate change initiatives. Just as bad is the end of any meaningful health care reform. Opponents of health care reform offered scant substantiation for their obstructionist moves, other than their desire to see Obama fail. Democrats enabled this mess by dickering, cutting ludicrous deals, and cloaking health care reform behind layers of obfuscation. We are dithering internally while China, India (and most of Asia) are building new universities, revitalizing their cities, creating millions of jobs, developing entirely new and modern infrastructures, and generally out-hustling us in many vital strategic areas. I've seen it first-hand, as have many Americans living in Asia. We can still fix things, but it will take super-human political will--the kind not exhibited by any currently elected leader from either party. Obama himself said that politicians think too much about getting reelected and not enough about developing policies that make long-term, positive and lasting differences, even if that means they get voted out of office. Unfortunately, we find ourselves without  meaningful policy or political leaders.

Innovation and Speed in 2009

The words for the coming year are 'Innovation' and 'Speed'. From new government programs around the world designed to mitigate the effects of the current financial meltdown to investment in green technology to businesses doing more with less as they attempt to grow with smaller budgets, innovation will be key. We've seen the early stages already. Since the financial crisis hit, governments everywhere were put in the unexpected position of determining how best to improve liquidity and free up the credit markets. Because of the rapid-fire nature of the crisis, there wasn't the luxury of months or years to plan, making speed another key element. Decisions had to be made and signals had to be sent to nervous markets that governments would step-in to provide stability and reassurance. As obvious as these needs are, the sheer suddenness of the combined actions around the world (with the exception of Germany, which remains one of the few holdouts) compelled governments to act quickly, in the absence of complete information. While these are not ideal conditions to spur innovation, crisis often produces surprisingly positive side-effects, which we will hopefully see unfold in 2009 as governments focus on stabilizing the world economy. 

In the U.S., innovation looks to take many forms as well, including Obama's plans to invest in new technologies designed to address multiple environmental and energy-related issues, development of a more cohesive national education structure emphasizing the critical stage of early childhood education, new healthcare initiatives, and domestic infrastructure projects. With most of these issues, the private sector is already reshaping itself to encourage additional innovation. Some venture capitalists in Silicon Valley (and elsewhere) are redirecting capital toward green innovation and education initiatives. Businesses are gearing up in anticipation of the domestic infrastructure investments. Regulators are focusing on designing better and more innovative approaches to oversight of financial markets. None of these innovations and potential changes will come easily. To succeed, the tendency of bureaucrats and business leaders to protect their territory needs to change, embracing open and honest discussion instead. New initiatives and plans need to be vetted by the passionate forces of debate. But the debate itself must not succumb to typical analysis/paralysis, otherwise innovation will stall, the economy will continue to suffer, and progress overall will halt. Just as the events from September 2008 forced leaders from government and the private sector to think and act with extraordinary rapidity (and yes, there were still patches of uneven response--but that is typical in innovation-driven situations), the effort to solve the many crises confronting us must be pursued with similar urgency. There will never be a perfect plan to solve each of the various challenges, so we should not wait for one. Instead, having a general sense of direction, an innate optimism, and rapid-fire execution, are the right combination of factors to get us going. To make this all happen will require an open dialog that encourages multiple points of view, each with an eye toward a future of transformation. 

There is a painfully obvious and very recent lesson that should serve to guide government and private sector leaders in the months ahead: do not do what the former Big 3 automakers have done. As these companies teeter on the edge of failure, they have been neither innovative or speedy. Their recent problems are merely the manifestation of decades of bad decisions that have finally come back to haunt them. Their leaders have been stunningly blind to conditions around them, evidenced most egregiously by the CEOs' disastrous first meeting with Congress several weeks ago when each of them flew on corporate jets to beg for government loans-symbolic of their detachment from reality. And in this instance, perception was reality. The Big 3 automakers are perceived to be out of touch (and almost out of time) and lo and behold, their leaders reinforced this view. Almost comically, after being raked over the coals by Congress for their insensitivity (and lack of sensible turnaround plans) these same CEOs returned a couple of weeks later, each having driven from Detroit to Washington DC in a hybrid car, as if to say "now we get it". Unfortunately for them, the hybrid car gesture smacked of insincerity and it was clearly too little, too late. To make innovation and speed work to our advantage will require leaders in all sectors of society to actually 'get it' the first time. I am optimistic this will happen. But don't wait for perfection.

Northern Illinois University

What can be said about the tragedy at Northern Illinois University? How does one console the families of victims who, in their wildest nightmares, could not anticipate this? Steven P. Kazmierczak did the unthinkable and unimaginable, killing 5 students and shooting 21, before killing himself. While our hearts go out to the victims and their families (not to mention the psychological impact on the university's remaining students and staff), there is simply no way those of us hearing about it through the news can truly comprehend the magnitude of the loss to the families. The gun control debate in the US is ridiculous, yet it continues because supporters of gun control are cast as violators of rights guaranteed by the 2nd Amendment to the US Constitution. 2nd Amendment supporters are cast in the hero's role as protectors of civil liberties. The argument against gun control is simply unsupportable lunacy and the 2nd Amendment is a relic of a different age, so Congress should 'amend' it by abolishing it. Will abolishing the 2nd Amendment fix the problem? Not completely. There are no fail safe solutions and gun control supporters should not be naive in their efforts. People will continue to do unspeakable things to others, just as has happened throughout history. But that doesn't mean society should give those prone to senseless violence yet another weapon. Unfortunately, the likelihood of the 2nd Amendment being abolished is close to zero and, perversely, the likelihood of future massacres similar to NIU and Virginia Tech is almost guaranteed.

Harvard's New President Faust Understands

Harvard inaugurated its first female president, Drew Gilpin Faust, on Friday, October 12. This was and is a momentous event for social, academic and strategic reasons. Faust is a noted history scholar and former Dean of the Radcliffe Institute for Advanced Study. She is a first rate intellect and a very capable administrator. Harvard, and higher education, will undoubtedly benefit for years from her leadership. Faust covered many themes in her inaugural speech, but one theme in particular stood out: society's expectations of a university's accountability. As the world has globalized and the focus is increasingly on creating economic wealth, universities have been under attack for operating under an outdated model. Critics argue that universities need to prepare students for careers, rather than teach broader lessons of culture, society and philosophy (for example). Faust took direct aim at these critics by saying that universities must not succumb to pressures for short-term performance measures, otherwise we will lose sight of the greater search for understanding and meaning. Here are a few excerpts from her speech,

"...The deeper problem is a widespread lack of understanding and agreement about what universities ought to do and be...Resulting public confusion, at a time when higher education has come to seem an indispensable social resource, has produced a torrent of demands for greater “accountability” from colleges and universities. Universities are indeed accountable. But we in higher education need to seize the initiative in defining what we are accountable for. We are asked to report graduation rates, graduate school admission statistics, scores on standardized tests intended to assess the “value added” of years in college, research dollars, numbers of faculty publications. But such measures cannot themselves capture the achievements, let alone the aspirations of universities. Many of these metrics are important to know, and they shed light on particular parts of our undertaking. But our purposes are far more ambitious and our accountability thus far more difficult to explain.

Let me venture a definition. The essence of a university is that it is uniquely accountable to the past and to the future – not simply or even primarily to the present. A university is not about results in the next quarter; it is not even about who a student has become by graduation. It is about learning that molds a lifetime, learning that transmits the heritage of millennia; learning that shapes the future. A university looks both backwards and forwards in ways that must – that even ought to – conflict with a public’s immediate concerns or demands..."

I highlighted 2 comments in particular: that universities are not about results in the next quarter; and that universities are about learning that molds a lifetime. These are a critical points that get lost in the loud calls for university reform. If the public is concerned about producing graduates that are solely prepared for the workplace, then I suggest vocational schools as a viable alternative for providing such a fundamental education. But the lessons of history reveal that success in life, and not just work, are often the by-product of an education that inspires curiosity and the search for understanding. President Faust reminded us that universities serve a far larger, more complex, and ultimately more fulfilling purpose than merely preparing students for jobs immediately after graduation. With Harvard as her pulpit, President Faust has a unique opportunity to influence the direction of higher education for years to come. Her inauguration speech was a great start and I hope the world listens to her.

Stanford BEATS USC

Even though I live in Singapore I try to follow US college football when it is broadcast on the internet late on Saturday nights and Sunday mornings. I can't help myself...I grew up with college football, living just a few miles from Stanford University, going to games every year, then attending Stanford, so I love the game and the team. This past weekend was one of the best (for me). Why? Because Stanford defeated USC 24-23. Those of you outside the US won't care much, but in the US USC is one of the leading college football powerhouses--a true 'brand', if you will. Their team was undefeated and ranked #2 in the nation going into Saturday's game (they were #1 until the previous week), while lowly Stanford had a 1-3 record, coming off last year's 1-11 season. There was no hope from the pundits point of view. Oddsmakers listed USC as a 41 point favorite. To make matters worse, Stanford was without its starting quarterback, TC Ostrander, with Tavita Pritchard taking TC's place. Tavita had thrown exactly 1 college football pass prior to this game. Of course, he comes from a talented sports family...his uncle is Jack Thompson, was a legendary college quarterback from Washington State in the 1980s. As the game unfolded, I was first surprised, then shocked, then excited, that Stanford was keeping the game close. It didn't seem possible that they could beat USC, but playing them close would have been a moral victory of sorts. Then, the improbable happened. On 4th down and with the score 23-17, following 2 incomplete passes and a penalty, Stanford had one last chance to score a touchdown. There were only 49 seconds left in the game, USC's defense was tough, and it did not seem likely that Stanford could pull out a miracle. Tavita Pritchard went back to pass and threw a pass to Mark Bradford, who made a leaping catch in the end zone. The extra point was good and, VOILA!, Stanford beat USC. Here's the kicker: Mark Bradford, who made the winning catch, had only returned to the team earlier that morning. Why? Because his father died unexpectedly 3 days earlier, so Mark had been attending the funeral and visiting family. He had dedicated the game to his dad (and his dad had attended the previous games this season...). If that's not poignant, I don't know what is. The Stanford victory over USC has been called one of the greatest upsets in college football history. That's a fairly big claim given the over 100 years of its history, so let's just say it is the biggest upset this season (which has already been a season of upsets...). But one has to smile when considering the extraordinary and highly improbable circumstances surrounding this whole game. Congratulations, Stanford! You can watch the video of the final touchdown at youtube: http://www.youtube.com/watch?v=N9Gqi_L6DAc. Note that the announcer makes a mistake and initially credits the touchdown to USC. He then corrects himself. No doubt he was a USC fan...

Odds and Sods

Another SMU colleague, friend and professor at SMU, Michael Netzley, and I are prepping for launching our new podcast series 'Leadership Matters'. You can check out more information about it at these links: http://leadershipasia.wordpress.com/ and http://web.mac.com/brandnewview.....Stanford's football team won its first game of the season yesterday, beating Bay Area rival San Jose State 37-0. It was Stanford's first win in its remodeled stadium, which re-opened last year. Following Stanford's 45-17 loss to UCLA 2 weeks ago, this appears to be another up and down season. But I LOVE the team and the games nevertheless (and I wish they were broadcast in Singapore--there is far too much EPL re-broadcasts from games 3-4 years old...)....my book, 'Measuring Marketing' (published by John Wiley and Sons in late 2006) climbed as high as #40 on the Amazon.com business best seller list last week, which was a great thrill. I just signed a contract for a new brand book that will be published in late 2008 or early 2009, plus I am putting the finishing touches on a great new book on the secrets of successful business leaders.....in the past couple of weeks Apple launched a revamped iPod line, including a version called 'iPod Touch', which looks very similar to the highly successful iPhone launched 90 days ago. Speaking of which, Apple announced a $200 price cut in the 8 GB iPhone and eliminated the 4 GB iPhone entirely. This caused a bit of frustration among many Apple customers who purchased their phone at a far higher price. But Apple is offering a $100 early owner credit to ease the pain somewhat....are the Beatles becoming too commercial? Not necessarily, but I have to wonder given the new launches in recent years of the Cirque du Soleil show called 'Love' which is designed exclusively around Beatles songs. John Lennon and Paul McCartney's solo songs are beginning to appear on iTunes (so the Beatles songs are next, one supposes??). And a new movie just came out based on Beatles songs, called 'Across the Universe'. While none of these things are that unusual, they represent a change in direction for Beatles brand, which has historically been quite tight fisted and protective of the band's unrivaled legacy. But I have to say that most of these moves are quite tasteful and consistent with the image the Beatles developed during their commercially active years and even since, so maybe these developments aren't that bad, especially compared to the overcommercialization of much of the music industry....Michael Mendenhall, a 17 year Disney veteran who was most recently EVP of Global Marketing Support, has been lured away by HP to be their Chief Marketing Officer. This portends some interesting changes ahead for HP over the next 2-3 years as they try to increase their PC market share lead (among other things...)....the Dallas Cowboys were just ranked as the #1 most valuable sports franchise in the world, valued at $1.5 billion. This is interesting because for the past several years, the top ranked sports franchise has jockeyed back and forth between Manchester United in the EPL, and Spain's illustrious Real Madrid, both of which are still around $1 billion in value. Jerry Jones has done a terrific job tending to the business of the Dallas Cowboys. Now if he can only get them back to the Superbowl! (actually, I'm a San Francisco 49ers fan, so I hope they beat the Cowboys...)....that's all for now.