Wednesday, April 29, 2009

Review of Seth Godin's "Tribes"

Below is a book review of Seth Godin's "Tribes" I did for class. Thought it might be interesting. The book comes highly recommended by my work's leadership.


“The tactics of leadership are easy. The art of leadership is hard.”

Overview

The book “Tribes” by Seth Godin, is a 151 page call to action for all people in the world to step up and become leaders. The book places an emphasis on how technology has enabled people of all ages, gender, ethnicity, status, belief, etc… to become leaders of influential groups, both large and small. These groups, or “tribes”, have the ability to change the way we do business and perhaps the world. Godin has identified technology, something as simple as a blog, as the vehicle for a new “tribe” leadership and the only fuel needed to get this tribe moving is a shared interest or passion.

The book, in my opinion, is in its essence a motivational read for all people interested the positive power of leadership and what it can accomplish.

However, the book in its written form comes across as a series of unconnected thoughts, ideas and stories. The “tribal” success stories or examples Godin refers to throughout tend to have very little detail and leave us doubting their true impact or validity. These stories that usually make up the bulk of leadership books and show us how to apply the philosophies or ideas being presented are sorely missed here. Further, the books main message of “anyone can lead a tribe” started to become repetitive and wear thin over the relatively slim book. One final criticism is that the book fit in very nicely with Godin’s own personal business model, that of a business blogger who has a strong internet following. I tended to get a feeling of someone who was simply validating their own mode of communication and leadership.

Application of ideas

While I did find many faults with the books presentation and content, I also found several secondary messages within that personally resonated with me, both in my personal experiences and in my beliefs.

The first idea I found important in this book is the aspect of empowering yourself to be a leader and not waiting to be given leadership responsibility. In my opinion this is the most important lesson that someone who aspires to be a leader, especially in the business environment, can possibly learn. By taking initiative and putting yourself into unofficial leadership positions, other leaders can get a first hand glimpse at your potential in leadership. This allows them to easily asses your ability as potential opportunities for advancement occur and proactively gets them to think about your leadership capabilities as well. Personally, my current manager worked hard to get me to buy into this several years ago, working with me to seek out leadership opportunities and to always present myself as a potential leader. I did eventually buy in and immediately saw results, getting promoted to a leadership role shortly thereafter.

The second thing I would stress from this book is the idea that being the first to pick an idea or plan and run with it, or “be there first”, is something that also can be applied to all prospective leaders. I strongly encourage all prospective leaders to actively seek out new ideas or problems and then find a way to bring this to the masses. This is an easy way to get noticed in an extremely positive light while also potentially delivering great change or impact to an organization. In fact, finding or acting on a new idea is usually the easiest way to create a leadership opportunity for oneself. A great example from my own experience is how I and a few of my peers took the initiative to install project management principles on our team. This occured at a time when project work was increasing steadily without any direction for a process to manage this work from my leadership. Our leaders soon heard about our progress and decided to form a cross-functional team to introduce project management to the department. We were then asked to participate in this team allowing us great exposure in our area. Three of the four of us initially involved in this effort have all moved on to leadership roles!

Third, many of Godin’s examples of “tribal” successes all involve one key trait, effective communication. I feel that communication might be one of the single greatest keys to being an effective leader. Godin’s emphasis on technology essentially boils down to the ability to quickly and easily communicate to people all over the globe. While he is correct with his technology emphasis, it is important to note that all these stories involved people who are excellent communicators. Think of Steve Jobs, commonly seen as a great product innovator, but whose true strength might be in communicating Apple’s products great features to the masses. Personally, I have seen many leaders quickly rise up the ranks at my own work with their ability to communicate complex projects and concepts to both leaders and subordinates.

Finally, the one thing I most remember from “Tribes” is the quote at the top of this page:

“The tactics of leadership are easy. The art of leadership is hard.”

This quote calls out that while there are many books out there that detail out action plans for effective leadership, great leadership is something that cannot simply be implemented, absorbed or learned. It is an art form that only through practice and constant development can truly be mastered.

Thursday, March 19, 2009

Issues with focus on shareholder value?

Interesting post in the blogging stocks blog awhile back. The article talks about the corporate focus on shareholder value and how it can cause companies to look short term.

My limited opinion is that the sometimes extreme focus on shareholder value and its impact on leadership compensation is a big part of the corporate executive scandals as of late. Also, think about how this goes hand in hand with activist investors who purchase large shares in companies in order to "turn them around"? Perhaps a lot of their tactics really represent ways to inflate shareholder value shorterm in order to get a quick gain but in the end severally degrade the company's profitibility and long term value?

Target is going through this right now with the activist investor William Ackman who purchased around 8% of Target stock right before the market went south. He has since seen his investment devalued over 70%. He is just starting a proxy fight with the board to get representation on it so he can influence Target's strategy.

Sunday, March 15, 2009

How do we find the right people for the job?

Just read an interesting article by Malcolm Gladwell titled "Most Likely to Succeed". The crux of the article is about determining who will succeed in a particular role. The article discusses this in terms of NFL quarterbacks, school teachers, and financial advisers and how each go about finding/hiring for each respective position. The issue for each is that what makes for the most successful people in each role are traits and skills that are not easily determined before someone is actually in the role. Think of how Matt Cassell succeeded this year despite never starting a game in college and being a seventh round draft choice.

One interesting thought the article comes up with is that in order to find the best of the best it is more important to increase the potential pool of candidates and put them in situations that would actually imitate what the job would do. For teachers, this would mean lowering standards for them to be certified and instead allowing them more on the job training and evaluating them on that instead. This vastly differs from the common practice of raising standards in order to get more qualified candidates.

I find this applicable at my own workplace in that we should apply some of these learning's to our own internship programs. Make sure that the programs are putting the interns in as many difficult situations that a normal team member would face as possible. Further, the focus for a internship program should be less on managing the intern on a day to day basis and more on constant and consistent evaluation of the traits that an organization feels makes for a successful team member. For Target, this may mean evaluating how they collaborate, navigate the culture, and strive for personal development to name just a few things.

All in all a very intriguing article.

Thursday, March 12, 2009

Apple store, watchmen, favorite sites

Latest Apple store trip
Went to the Apple store yesterday to pick up a skin for my iPod touch. Have to say that store still never ceases to amaze me. I haven't been by a Apple store that has ever had less than 10 people in it. I finally realized this time that I saw no check out line or registers, so I was a little confused as I was trying to make my purchase. Up comes a Apple rep who whips out a small handheld and he proceeds to check me out right there next to the Apple accessory's. Woila.

I still am unsure about how the business model for the Apple store actually works. They have a ton of staff in the store at one time so the SG&A cant be cheap and I just cant see them selling a ton of product seeing that their online store is so successful. Ill have to work this one out a little further.

Watchmen
Saw the watchmen yesterday and was relatively pleased. Pros: Film looked great, the fight scenes were pretty sweet especially the opening, majority of the cast was excellent. Cons: Wasnt terribly pleased with the changed ending, movie was plenty long, one key scene from the end of the book was missing, not a huge fan of the Ozymandias casting. I give it 3 out of 4 popcorns.

A quick run down of my favorite sites to check daily
-Engadget - Great blog that runs down the latest in all tech gadgets. Great source for all types of breaking news, reviews, and nerd alert items.
-Blogging Stocks - Daily rundown on all financial and stock related news. Has had a lot of great posts about the economic crisis since this fall. Everyone's favorite shock TV finance jock, Jim Cramer, posts on here.
-Ask MetaFilter - Great site to find answers for any random questions you may (or may not) have. Need to subscribe in order to ask or answer but you can browse free of change.
- Joystiq (for xbox) - site for the latest Xbox news. I check to find out the latest Rock Band music releases
- Slate.com - probably my favorite site to check daily. Great site for news and opinions on world events, politics, finance, entertainment and everything else. Also links to other interesting blogs and sites. Their explainer column is awesome.
-SI.com Hot Clicks - Check it once a day for all that's relevant in the internet world...introduced me to being Rick Rolled

Monday, March 2, 2009

Flash

Interesting discussion on Intel in class today. They are a unique company in that they have actively practiced cannibalization with with their processors, something most companies try to avoid. This, along with their tremendous(revolutionary?) marketing, has helped them dominate the processor market for almost 30 years.

The big question is what do they do next? The PC processor market is fast becoming a commodity and may not sustain them in the future.

One big opportunity may lie in Flash memory. As the price drops and the storage amount increases, it increasingly looks like Flash may be the key technology to drive many of our future portable devices. For example, users still need to decide between the large storage capabilities of the iPod classic (120gb for $250) or the more flashy iPod touch (16gb for $300 or 32gb for $400).
I personally geeked out big time over this decision, first getting a iPod classic then returning it (after opening it. Still not sure how I convinced Target to let me swing that) for the iPod touch. I figured I could manage my large music collection with just a little bit of extra care. But it was annoying to be so close to being able to get all my music, videos and pictures (around 60gb) onto one device.

How long until we can get a moderatly priced flash hard drive for larger devices (i.e. a laptop). I imagine a 80gb hard drive on a laptop would be more than enough for most people. Any extra could be handled by a cheap external drive. A laptop with a flash drive would be way quieter, use less power, and have speed advantages. Hey, maybe it wouldnt take me 35 minutes to boot my work laptop up in the morning!!! Currently Dell offers SSD drives on their top line laptops. It will be nice to see this as an option on the studio series.

I think a Intel branded flash memory card would carry a lot of weight and present a new market opportunity for them. It will be interesting to see how they ultimatly attack it.

Side note:
Ill be in the market for a new PC probably in the next year or so. I think ill spring once Windows 7 comes out. Next step is figuring out if I can just get a laptop to replace my desktop. I spend 85% of my time on my work laptop anyways as I primarily use my home PC for media storage. Maybe a cheap desktop is still all thats needed.

Wednesday, February 25, 2009

A long dark PC odyssey

My troubles with my PC continue. 1 week and counting with me wanting to throw my laptop out the window.

Trouble started last Thursday when my laptop's hard drive crashed. I ended up losing a bunch of work files that would have been extremely helpful PLUS all my school files (which included a paper due for class that day). Fast forward past the 4 hours working with Target systems recovery to retrieve the files (unsuccessfully), 1 PC reload, 3 re-loads of MS office, 4 additional program requests and I still don't have Flash working correctly on my browser. Target has the laptop so locked down I cant even download a stupid Active x control to view Youtube. Frustrating.

I shall try again tomorrow to get the help desk to fix the flash issue. I needs my youtube (and our new talent acquisition system website doesn't work either...)

Business on the mind

Thoughts for the day

Shot some emails back and forth with friends about the current state of the economy and the bailouts. Some of my views
-I am very much a free market, capitalist person...with a little a bit of a guiding hand involved. Markets work best when they are left alone to sort things out (survival of the fittest) but rules or incentives need to be put in place to guide business to do the right thing (pollution control, executive pay, protect workers, etc...)
-I hate the idea of the bailout but something must be done to stabilize the economy and the debt markets. How do we do this with out rewarding banks and home buyers for making poor decisions is the question.
-I am very much anti auto bailout. The big 3 have been run piss-poor for quite awhile and we shouldn't be expected to support business that cant figure it out nor should we support bad union contracts.

Microsoft is planning on opening retail stores
-They have tasked the head of the initiative to figure out when and where as first priority. How about how or why?
-I view it as a interesting chance to bring the cool back to Microsoft. Also could be a great way to show off the xbox and other innovative products.
-One problem, it could backfire...badly. Not sure how they could easily bounce back from that

Target Q4 analyst call: I listened in to the Target 4th quarter analyst call. As always its interesting stuff. Doug Scovanner, the CFO of Target, is awesome to listen to. He really knows his stuff and is pretty engaging in person and on the phone. Here is what I gleamed:
-Target is in great shape with its inventory. We shouldnt be seeing tons of markdowns and clearance this spring
-The CEO, Gregg Steinhaffel emphasized that Target will not damage the brand of Target for short run financial gains. That strategy is one of the things I love about Target.
-Look for consolidation in Target's private brands in order to streamline items and drive sales
-2009 will have 60 net new stores. 2010 could range anywhere from 5 new stores to 30 new stores
-Here are some nice indicators of the financial position of the company
  • Q4 expenses were lower than Q4 2007 in terms of cash
  • A share now is worth $84 dollars in sales compared to 5 years ago when it was worth $40 dollars in sales. Share price 5 years ago was around $40
-Look for Target to continue to focus on changing the consumer perception that Target is more expensive for basics than the 900 lb gorilla.