9. hbr 2004 sep

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The World’s Biggest Customer…page 45 You’re Being Followed…page 76 www.hbr.org September 2004 Make Time to Lead …page 58 58 Stop Wasting Valuable Time Michael C. Mankins 68 How Global Brands Compete Douglas B. Holt, John A. Quelch, and Earl L. Taylor 76 Why People Follow the Leader: The Power of Transference Michael Maccoby 88 Deep Smarts Dorothy Leonard and Walter Swap 98 Diversity as Strategy David A. Thomas 18 Forethought 31 HBR Case Study The Micromanager Bronwyn Fryer 45 Big Picture New Business with the New Military Mahlon Apgar, IV, and John M. Keane 110 Tool Kit Customer-Centered Brand Management Roland T. Rust, Valarie A. Zeithaml, and Katherine N. Lemon 121 Best Practice Building Deals on Bedrock David Harding and Sam Rovit 134 Executive Summaries 140 Panel Discussion But since we’ve been a global leader in embedded processors for more than 50 years, we won’t be that hard to recognise. Since our birth in 1953 as Motorola Semiconductor, we’ve been a leading force in the semiconductor industry. As Freescale™, we continue to be recognised as the embedded processing leader for a connected world. With over 4,900 patent families and a proven record of industry innovations in such areas as process technology and ball-grid array packaging technology, we’re providing the foundation for today’s and tomorrow’s semiconductor markets. And with our 22,000 dedicated employees and extensive global resources, our market leadership spans industries as diverse as automotive, networking, industrial controls, consumer electronics and wireless communications. Learn more about how Freescale can accelerate possibilities in your business. Visit www.freescale.com Freescale™ and the Freescale logo are trademarks of Freescale Semiconductor, Inc. All other product or service names are the property of their respective owners. © Freescale Semiconductor, Inc. 2004. Freescale is our new name. ALL ABOARD THE MAGIC BUS. HBR Features 88 September 2004 58 Stop Wasting Valuable Time Michael C. Mankins 76 If your top executive team is like most, it spends no more than three hours a month discussing strategy – and much of that time is wasted. A few simple changes can turn frustrating, aimless meetings into a streamlined, effective tool for making decisions that lead to real competitive advantage. 68 How Global Brands Compete Douglas B. Holt, John A. Quelch, and Earl L. Taylor With antiglobalization and anti-American sentiments rising, transnational firms are ducking for cover. But they shouldn’t be. They should be courting consumers by focusing on quality, social responsibility, and the myths their brands weave. 76 Why People Follow the Leader: The Power of Transference Michael Maccoby Chances are, people in your organization relate to you not just as a leader but as an important person from their past, such as a parent. Pay close attention to these transferences. Managing them well can make the difference between an antagonistic and unresponsive workplace and one that hums with productivity and creative energy. 88 Deep Smarts Dorothy Leonard and Walter Swap People with deep smarts know your business, your customers, and your product lines inside and out. This kind of know-how takes years to acquire – and no time at all to lose when your veterans walk out the door. It’s critically important to pass along such expertise to novices in the organization. But what comes first – the learning or the doing? 98 Diversity as Strategy David A. Thomas 68 By partnering with employees to promote diversity, IBM not only became a more attractive place to work, it also created millions of dollars in new business. COVER ART: LAURENT CILLUFFO continued on page 8 58 6 harvard business review YOU MAY NOT KNOW EVERYTHING WE MAKE. BUT EVERYTHING WE MAKE IS VITAL. At Tyco International we make more than 200,000 products for hundreds of different industries. Including the Scott respiratory-protection units that firefighters and other first responders rely on every single day. From life-saving firefighter equipment to home security systems to medical sensors and instruments, everything we make is a vital part of your world. ELECTRONICS ENGINEERED PRODUCTS & SERVICES FIRE & SECURITY HEALTHCARE PLASTICS & ADHESIVES www.tyco.com HBR D e pa r t m e n t s September 2004 10 86 FROM THE EDITOR S T R AT E G I C H U M O R Practical Cats Executives attempting to deal with difficult business problems often feel as though they’re herding cats. The comparison is misleading, though, if you take it to mean “you can’t do anything about cats.” Herding isn’t the same as managing. Cats can be managed – they just can’t be managed as you would manage cattle. 20 110 Customer-Centered Brand Management Roland T. Rust, Valarie A. Zeithaml, and Katherine N. Lemon Brand management still trumps customer management in most large companies, and that focus is increasingly incompatible with growth. Here are seven ways to put brands where they belong – in the service of growing customer equity. FORETHOUGHT 18 20 22 24 26 Get Self-Organized The Confession Game Plan Perfecting Cross-Pollination There’s Gold in Them Bills Books in Brief 31 HBR CASE STUDY 31 121 David Harding and Sam Rovit If you think the main purpose of mergers and acquisitions is to grow big fast, think again. Fifteen years of data and experience show that deals work under only two circumstances: when they help your company do what it does best or when they help it evolve, as the basis of competition in your industry shifts. Bronwyn Fryer 45 BEST PRACTICE Building Deals on Bedrock The Micromanager CEO George Latour’s leadership style is so hands-on he’s elbow deep in the details of running software-engineering firm Retronics. New marketing director Shelley Stern feels second-guessed, and she’s unhappy. Does Shelley need an attitude adjustment, or does George need a new marketing manager? TOOL KIT 45 131 LETTERS TO THE EDITOR How many alpha males are really out there? 134 EXECUTIVE SUMMARIES 140 PA N E L D I S C U S S I O N BIG PICTURE New Business with the New Military 110 Mahlon Apgar, IV, and John M. Keane You Say Po-Tay-Toes, I Hear To-Mah-Toes Don Moyer Something big – really big – has just come into sight on the business horizon. It’s the transforming, privatizing, outsourcing, and more businesslike U.S. military – and the opportunities it offers are rich and varied. As George Bernard Shaw observed,“The greatest problem with communication is the assumption that it has taken place.” 121 8 harvard business review FROM THE EDITOR Practical Cats eaders matter most when projects and problems don’t easily break down into to-do lists. When tea leaves are unclear or when rules are murky; when there are options to be weighed and implications to be pondered; when what’s needed is a judgment call, not just the OK to run a play already in the book–that’s when you want the full attention of your top people. Unfortunately, upstairs in the executive committee meeting, they’re talking about almost everything else. The shocking lesson of the lead article in this issue of HBR is, alas, not surprising: The vast majority of top management teams spend too little time together and fritter away too much of it on a hodgepodge of incidentals. All of the members bring items to the agenda, as if they were Secret Santas at an office party. Seemingly urgent problems get the most attention while important issues get pushed to the next meeting. Research by Michael Mankins of the consulting firm Marakon Associates shows that most top teams systematically shortchange the big conversations and big decisions – formulating strategy, allocating capital, weighing the competing claims of business units. The author’s research, fortunately, also uncovers some exceptional companies that have learned to use top management’s time like the scarce resource it is. “Stop Wasting Valuable Time” is the title of the article that shows how these companies do what they do, and I urge you not to waste any time before reading it. The problem of dealing with demanding people, such as senior executives, is often likened to the impossible task of herding cats. The comparison is misleading, though, if you take it to mean “you can’t do anything about cats.” Herding isn’t the same as managing. Cats can be managed–they just can’t be managed as you would manage cattle. It seems to me that the most important problems in business are “managing cats” problems. Getting senior teams to focus on the right issues is one. Another is sharing knowledge. Knowledge-management types like to talk about the difference between structured and unstructured knowledge. Structured knowledge is relatively easy to codify or even to turn into checklists; unstructured stuff is hard to articulate, hard to pass on, and best learned through experience and over time. Almost by definition, unstruc- 10 tured knowledge is more valuable – precisely because it is hard to duplicate. Dorothy Leonard, of Harvard Business School, and Walter Swap, of Tufts University, call this kind of knowledge “deep smarts,” and your organization is full of people who have it. Confronted with the challenge of sharing deep smarts, managers too often throw up their hands. “Can’t do anything about it. It either happens or it doesn’t. You know, managing talent is like herding cats.” Well, no. It can be done, and in an organized, systematic, businesslike way – just not by the same means used to share structured knowledge. Leonard and Swap, in “Deep Smarts,” show how to create the conditions, relationships, and processes that will help new cats learn the old cats’ tricks. The relationship between leaders and followers is a third cat-management issue. We all know that you can’t herd followers; a leader needs their consent. But consent is only one aspect of the relationship, and not the most interesting or important. Followers have their own powerful motivations vis-à-vis the boss – motivations over which the leader has little or no control. Transference is one of these motivations; it occurs when, for example, a person becomes a father figure or a mother figure to someone else. It happens when a patient lies down on a psychoanalyst’s couch; it happens when a subordinate sits down in the boss’s corner office. For the most part, the follower makes transference happen, not the leader; but they both have to live with the effects. In “Why People Follow the Leader,” psychoanalyst Michael Maccoby, who four years ago wrote brilliantly in these pages about self-important, narcissistic leaders, looks at what happens when it’s the follower who invests in the leader too much importance – and how leaders can bring the relationship back to a healthier balance. ROBERT MEGANCK L Thomas A. Stewart harvard business review editor Thomas A. Stewart deputy editor Karen Dillon executive editor Sarah Cliffe art director Karen Player senior editors Leigh Buchanan David Champion Diane L. Coutu Bronwyn Fryer Ben Gerson Paul Hemp Julia Kirby Gardiner Morse Ellen Peebles Anand P. Raman associate editor Eileen Roche consulting editor Louise O’Brien senior production manager Dana Lissy associate production manager Christine Wilder senior designers Kaajal S. Asher Jill Manca Annette Trivette production coordinator Josette AkreshGonzales design/production coordinator Heather Barrett manuscript editors communications Christina Bortz manager Lisa Burrell Cathy Olofson Roberta A. Fusaro editorial Margaret K. Hanshaw coordinators Andrew O’Connell Kassandra Duane Andrea Ovans Siobhan C. Ford editor for contributing business staff development Amy L. Halliday John T. Landry Amy N. Monaghan executive editor Annie Noonan and director of derivative Suki Sporer products Jane Heifetz editor-at-large harvard business school publishing Walter Kiechel a note to readers The views expressed in articles are the authors’ and not necessarily those of Harvard Business Review, Harvard Business School, or Harvard University. Authors may have consulting or other business relationships with the companies they discuss. submissions We encourage prospective authors to follow HBR’s “Guidelines for Authors” before submitting manuscripts. To obtain a copy, please go to our Web site at www.hbr.org; write to The Editor, Harvard Business Review, 60 Harvard Way, Boston, MA 02163; or send e-mail to hbr_editorial@hbsp.harvard.edu. Unsolicited manuscripts will be returned only if accompanied by a self-addressed stamped envelope. editorial offices 60 Harvard Way, Boston, MA 02163 617-783-7410; fax: 617-783-7493 www.harvardbusinessonline.org Volume 82, Number 9 September 2004 Printed in the U.S.A. Pause ! You are an executive. Your company must succeed. You must take it to the next level and keep it there. IMD can help. Not just a consultant, not just a teacher. IMD – your learning and problem solving partner. ■ IMD- global perspectives ■ Practical, stimulating, leading edge learning ■ Insights, skills and confidence to succeed Partner with IMD, the world leader in executive development www.imd.ch "IMD ranks 1st in Europe and 4th overall Worldwide" Financial Times Global Survey of Executive Education Providers 2004 publisher Cathryn Cronin Cranston circulation fulfillment manager Heather McCormick direct marketing manager Bruce W. Rhodes manager, marketing and operations Marisa Maurer senior business analyst Adrienne M. Spelker advertising production manager Catharine-Mary Donovan STANFORD GRADUATE SCHOOL OF BUSINESS EXECUTIVE EDUCATION We recognize the vast power unleashed when change is a strategic, innovative, and positive force that enables and drives your business. We carefully craft each executive program to give you the tools and frameworks you need to harness the power of change in your organization. 2005 UPCOMING PROGRAMS Negotiation and Influence Strategies April 3 – 8 assistant subscriber services manager Elizabeth Sottile Credit Risk: Pricing and Risk Management April 17 – 22 assistant advertising manager Ashley C. Hartmann worldwide advertising offices advertising director – worldwide Trish Henry 212-872-9283 New York Maria A. Beacom Michael J. Carroll James H. Patten 509 Madison Ave. 15th Floor New York, NY 10022 212-872-9280; fax: 212-838-9659 Atlanta Boston Chicago Dallas Detroit Los Angeles San Francisco Brazil France Latin America Mexico Sweden United Kingdom Advanced Negotiation Program April 17 – 22 business director Edward D. 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Corporate Governance Program May 31 – June 3 subscription service information u.s. and canada 800-274-3214; fax: 902-563-4807 Rates per year: U.S., $118; Canada, u.s.$128 www.gsb.stanford.edu/exed 866.542.2205 (toll free, U.S. only) or 650.723 .3341 Stanford, California international 44-1858-438868; fax: 44-1858-468969 Rates per year: u.s.$165; Mexico, u.s.$128 subscribe online www.hbr.org reproduction CHOOSE STANFORD EXECUTIVE EDUCATION FOR PROGRAMS IN: • General Management • Financial Management • Leadership and Strategy Marketing • Negotiation • Technology and Operations • Nonprofit • Custom Programs CHANGE LIVES, CHANGE O RGANIZATIONS, CHANGE THE WORLD Copyright © 2004 Harvard Business School Publishing Corporation. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without written permission. Visionaries are usually mocked. In 1970, we set out to build a new kind of law firm. One that challenges how law firms operate, breaks away from traditional industry wisdom, and places the client at the heart of the firm. Pretty revolutionary stuff. haynesboone.com haynesboone Setting precedent. YOU KNOW BETTER. DELL KNOWS HOW. INTRODUCING DELL’S NEW POWEREDGE™ SERVERS. Get outstanding performance and value with new Dell PowerEdge Servers and Intel® Xeon™ Processors. Step up to the next generation of technology with Intel® Xeon™ Processors. Get 32-bit performance and the flexibility of 64-bit extended memory* when you need it. New OpenManage™ 4 delivers a broad range of remote management features that help reduce complexity. Common drivers, BIOS and system images can help you streamline improvements and lower total cost of ownership. Things have changed since Y2K. How about your servers? PowerEdge 2800 High availability tower, ideal for 1st and 2nd tier server workloads. Coming soon. PowerEdge 1850 Exceptional performance server, ideal for HPCC, web and network infrastructure workloads. PowerEdge 2850 The perfect balance of performance and flexibility, ideal for database and Internet infrastructure workloads. Today’s way to build a scalable enterprise. Easy as Contact a Dell Professional today. 1-866-535-0458 • www.dell.com/server25 toll free * Requires 64-bit operating system and application. Dell, the Dell logo, PowerEdge and OpenManage are trademarks of Dell Inc. Intel, Intel Inside, the Intel Inside Logo and Intel Xeon are trademarks or registered trademarks of Intel Corporation or its subsidiaries in the United States and other countries. ©2004 Dell Inc. All rights reserved. F o r e t h o u g h t idea Get Self-Organized How top-down businesses exploit the power of bottom-up self-organization. by David Ticoll A little chaos goes a long way. Consider that when it comes to control over processes like production, delivery, and exchange, every business model falls somewhere along a continuum. At one end are highly controlled, hierarchical production systems. Someone, whether at General Motors, Wal-Mart, or Amazon, is in charge. At the other end are self-organizing entities, where no individual or office exerts control over the operA new type of business entity is ation. They are, in the best sense of the word, chaotic. emerging: the tightly controlled, At eBay and the stock exhierarchical production or change, for example, mardistribution system with features ket participants – not a retail owner – decide what of chaotic self-organization. is to be sold and bought, what the price will be, and more. Now a new type of business entity is emerging: the tightly controlled, hierarchical production or distribution system with features of chaotic self-organization. Like a new species expanding into an unexploited niche, such hybrid businesses are now growing in numbers and power. Self-organizing systems have forever produced integrated outcomes in nature (ecosystems) and in human societies (language). Perhaps the earliest examples of self-organizing commercial systems are town markets that, with their haggling merchants, date back to the dawn of commerce itself. But in the Internet age, self-organizing systems go beyond market exchange to produce complex, sophisticated, highly competitive products: computer operating systems (Linux), scientific blueprints (the human genome), and vast multimedia social entertainments (online games). 18 Famously, the Linux open source community grew to become the first and only market force capable of challenging Microsoft’s hierarchical approach to software development. Hierarchical businesses like IBM (with OS/2) and Sun Microsystems (with Solaris) tried and failed to defeat the Windows near-monopoly. The Linux team, by reframing the operating system production game from hierarchical to self-organizing, gained a unique advantage and, now, a robust partnership with IBM. And think about how selforganization changed the music industry. In 1998, file sharers shifted music distribution from a hierarchy (traditional retail) to a self-organizing exchange. Six years later, the business is still reeling. Here, an attack by a self-organizing system destabilized an entire industry. It would be difficult and risky – even foolhardy – to try to wholly transform a hierarchical business model into a self-organizing one. But the potential of self-organizing systems to enhance competitiveness is becoming clear to managers of some conventionally structured businesses. Look at the hottest players in retail: Amazon, Apple iTunes, and Netflix. These businesses look in some ways like self-organizing exchanges because they provide evolving recommendations based on what communities of like-minded customers have bought. But, in fact, all three have brilliantly designed the customer experience from end to end, even more than typical hierarchical retail stores. Amazon, Apple iTunes, and Netflix are hierarchical businesses that shrewdly facilitate self-organizing exchange; in each case, a hierarchical retailer fosters and gives expression – in a sense, makes manifest -- latent communities of customers with shared preferences (for books, music, or harvard business review
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