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This article defines and explains the four essential elements of persuasion. Business today is largely run by teams and populated by authority-averse baby boomers and Generation Xers. That makes persuasion more important than ever as a managerial tool. But contrary to popular belief, author Jay Conger (director of the University of Southern California's Marshall Business School's Leadership Institute) asserts, persuasion is not the same as selling an idea or convincing opponents to see things your way. It is instead a process of learning from others and negotiating a shared solution. To that end, persuasion consists of these essential elements: establishing credibility, framing to find common ground, providing vivid evidence, and connecting emotionally. Credibility grows, the author says, out of two sources: expertise and relationships. The former is a function of product or process knowledge and the latter a history of listening to and working in the best interest of others. But even if a persuader's credibility is high, his position must make sense--even more, it must appeal--to the audience. Therefore, a persuader must frame his position to illuminate its benefits to everyone who will feel its impact. Persuasion then becomes a matter of presenting evidence--but not just ordinary charts and spreadsheets. The author says the most effective persuaders use vivid--even over-the-top--stories, metaphors, and examples to make their positions come alive. Finally, good persuaders have the ability to accurately sense and respond to their audience's emotional state. Sometimes, that means they have to suppress their own emotions; at other times, they must intensify them. Persuasion can be a force for enormous good in an organization, but people must understand it for what it is: an often painstaking process that requires insight, planning, and compromise.
This chapter contrasts economies of scale and economies of networking and identifies four generic strategies for leveraging these networks effectively. It explores how such factors as performance versus compatibility and openness versus control can work to ignite positive feedback.
Mention "human resources" and most line and operating managers groan. Simply put, HR has a reputation for inefficiency and incompetence. But a new and transforming era for HR has arrived, asserts Dave Ulrich, a professor at University of Michigan's school of business. The challenges of today's competitive environment mean that HR must refocus its work away from activities that sap value from the organization and instead focus its efforts on achieving outcomes that improve company performance. Ulrich says HR's radical reinvention must be led by senior managers.
Describes the creation and evolution of this food marketing corporation. All its after-tax profits are donated to charity by Paul Newman, the distinguished actor and social entrepreneur. The company has grown into a $100 million enterprise and donated cumulatively $89 million to charities. It faces major competitive and organizational challenges. Includes color exhibits.
With clear text, appealing cartoons, and a focus on common errors and how to correct them, this little volume is a real gem that should find a permanent place with companies, universities, and anyone seeking a user-friendly guide to style and usage.From the Trade Paperback edition.
In the high-stakes, high-pressure world of presidential politics, where predators carry microphones and one misstep can savage a lifetime of achievement, Kerry Kilcannon is the rarest player of all. Kilcannon believes he can make the system work. And he just may die trying.Driven by the violent nightmare of his childhood, fueled by forces that few could understand, and burdened by secrets no one must know, Kilcannon is running for President--and entering the crucial battleground of California with seven days to go. But for Kilcannon, there are hurdles that his courage, charisma, and compassion may not overcome: the network correspondent he still loves; the reporter bent on their exposure; the rival who'll do anything to win; and the fanatic who believes that he must murder Kilcannon to protect the right to life. . . .
Reviews basic techniques for estimating terminal value in the valuation of businesses. Among the techniques discussed are perpetuities, growing perpetuities, use of multiples, and liquidation value. A rewritten version of an earlier note.
Discusses the economics of the private equity market and recent efforts by the U.S. Small Business Administration to promote greater angel financing.
This guide, written for students, is intended to help in case preparation and in understanding case learning.
Outlines: 1) the sources of business risk, 2) how to assess internal risk pressures, and 3) the antecedents of misrepresentation of fraud.
Describes the Lead User concept and method (step-by-step) with brief examples from industrial practice.
Describes basic calculations useful in marketing analysis, break-even analysis, and price-volume relationships.
Provides an overview of key information sources about venture capital and private equity.
Discusses various valuation methodologies for analyzing entrepreneurial firms. Gives a description of the methodologies and describes when each method is appropriate.
For the Novartis leaders, the decision to "use stretch budgets again next year" highlights the tension between candor and empowerment and command-and-control, between the new and the old, between high performance and business as usual, between Ciba and Sandoz. Management must decide what kind of company and culture they want to build.
ONSET Ventures, is a venture capital firm focused on seed-stage start-ups. Describes the principles and strategies the firm has developed over its life. Also presents an in-depth discussion of one of the seed-stage companies ONSET has been incubating.
Presents the background and some details on a possible acquisition opportunity--a manufacturer of ballpoint paint pens for the hobby and crafts industry. Forces students to peel the layers of this initially unattractive opportunity to find potential sources of value. A rewritten version of an earlier case.
Executives at Pepsico are considering a possible redesign of the Pepsi carbonated beverage packages worldwide to give the brand a modern, up-to-date image and "ownership" of the color blue against Coca-Cola's "ownership" of the color red.
Petrozuata is a proposed $2.5 billion oil-field development project in Venezuela. The case is set in 1997 as the project sponsors, Conoco and PDVSA (Venezuela's national oil company), are planning to meet with various development agencies and rating agencies regarding the proposed financial structure. The sponsors hope to raise a portion of the $1.5 billion debt in the capital markets, which will require an investment-grade rating. The key questions are whether the project will achieve an investment-grade rating and, if not, how to finance the project. Describes what turned out to be an extremely well-crafted financial transaction, one that was named "Deal of the Year" in 1997 by virtually every journal covering project finance.
This case depicts the supply-management practices--including planning, production, and distribution--at Pioneer Hi-Bred International, the world's leader in the genetically engineered hybrid crop-seed industry. Set in the context of a supply-management planning meeting, it reveals conflicting considerations in setting policies for production (what, how much, and where to plant) and distribution. Since the issues are viewed from three independent perspectives--planning, production, and distribution--the case lends itself to role playing.
This interview offers a deeper look inside Dell's highly publicized success and offers managers a model of how traditional relationships in a value chain can be reconceived in the Information Age. The individual pieces of Dell Computer's strategy--customer focus, supplier partnerships, mass customization, just-in-time manufacturing--may all be familiar. But Michael Dell's business insight about how to combine them is highly innovative: Technology is enabling coordination across company boundaries to achieve new levels of efficiency and productivity, as well as extraordinary returns to investors. In this HBR interview, Michael Dell describes to HBR editor-at-large, Joan Magretta, how his company is achieving "virtual integration" with its customers and suppliers. Direct relationships with customers create valuable information, which in turn allows the company to coordinate its entire value chain back through manufacturing to product design. Dell describes how his company has come to achieve this tight coordination without the "drag effect" of ownership.
As companies develop more and better ways to understand and respond to their customers' needs, relationship marketing has become the talk of the marketing community. Executives, academics, and consultants alike have the same goal in mind--creating meaningful relationships with consumers that will yield both the cost-saving benefits of customer retention economics and the revenue-generating rewards of customer loyalty. Unfortunately, a close look at consumers suggests that these relationships are troubled ones at best. The things that marketers are doing to build relationships with customers, are, in fact, subverting them. Relationship marketing--what is supposed to be the acme of customer orientation--is falling far short of its mark. Susan Fournier, assistant professor at the Harvard Business School, Susan Dobscha of Bentley College in Waltham, MA, and David Glen Mick, a professor at the University of Wisconsin offer a way to get this concept back on track.
This chapter examines the market structure of information goods and its implications for competitive pricing strategy. It focuses on several approaches to overcoming commoditization: personalizing products and prices, and establishing group rates.
Achieving quality through the process enhancement capability is a powerful source of market advantage. This chapter outlines the benefits of process enhancement and addresses several important issues that are fundamental to its success.