Showing posts with label business leadership. Show all posts
Showing posts with label business leadership. Show all posts

Building an International Financial Services Firm: How Successful Firms Design and Execute Cross-Border Strategies in an Uneven World Review

Building an International Financial Services Firm: How Successful Firms Design and Execute Cross-Border Strategies in an Uneven World
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Building an International Financial Services Firm: How Successful Firms Design and Execute Cross-Border Strategies in an Uneven World ReviewMarkus Venzin's Building International Financial Services Firmis one of those rare books that combines rigorous analysis with data and empirical research on relevant players within financial services arena. It provides well-selected case studies of both success and failures of firms' internationalization strategies. This book puts the reader in the driver's seat of a decision maker within a financial services firm on its tour towards multinational markets and explores the strategies of financial services firms that are active in the process of crossing borders. This book bridges the branches of strategy and finance to explain the evolution of services industry as a consequence of the current wave of globalization. Venzin's book highlights the link between internationalization and performance of financial services firm, key components of strategic decision-making regarding internationalization process (who should decide, why go abroad, where and how to enter and compete) as well as strategy execution once financial services firm establishes its international presence. This clearly and concisely written book is essential for graduate students who want to start their career within the services industry (both consultancy and financial sector), as well as for general managers who aim at designing and executing successful cross-border strategiesBuilding an International Financial Services Firm: How Successful Firms Design and Execute Cross-Border Strategies in an Uneven World Overview

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Asymmetric Marketing: Tossing the 'Chasm' in the Age of the Software Superpowers Review

Asymmetric Marketing: Tossing the 'Chasm' in the Age of the Software Superpowers
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Asymmetric Marketing: Tossing the 'Chasm' in the Age of the Software Superpowers ReviewMost marketing and sales professionals have read the tomes by Geoffrey Moore, et al., that opine that chasms can be easily or rigorously bridged with targeted campaigns. In contrast, Mr. Benzel has created an insightful view of the new, engulfing "Sandstorm Economy" that is dominated by "Marketing Superpowers."
Thus, unlike the chasm theory, Mr. Benzel asserts that in order to effectively compete in today's changing economy, we must be much more nimble and aware of the successful practices -- and directions -- of the Superpowers, or we will be engulfed.
Clearly, companies now have the opportunity to learn from the practices of these Superpowers and leverage new techniques and operative methods to be more competitive and successful.
This is an excellent book -- and an even better Primer for conducting technology marketing in the new, changing economy. I strongly recommend this book for Marketers who are looking forward and who want to leverage new, successful techniques, rather than look back and continue to invest in staid methods with decreasing value, significance, and success.Asymmetric Marketing: Tossing the 'Chasm' in the Age of the Software Superpowers Overview

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Truth: The New Rules for Marketing in a Skeptical World Review

Truth: The New Rules for Marketing in a Skeptical World
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Truth: The New Rules for Marketing in a Skeptical World Review"In marketing, credibility is like air: You can't see it, taste it or touch it, but you'll find out very fast if you're running short," says Lynn Upshaw in Truth: The New Rules for Marketing in a Skeptical World (AMACOM, May 2007).
In Truth, company leaders and marketers alike are urged to build and market products from a foundation of integrity and ethics, ultimately gaining respect and trust from today's oh-so-skeptical consumer. With examples of leading companies taking the high road such as Patagonia, Trader Joe's, and Infosys, Upshaw demonstrates how companies can increase brand loyalty, employee satisfaction, and ultimately revenue streams through a principled approach to everything from leadership to product development. To bolster practical integrity at your company, Truth will show you how to analyze your "COMA" (Cost of Marketing Atrophy), build an integrity impact report and promote internal integrity through workshops and awards programs at all levels from leadership to product development - and of course, marketing.
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Millennial Leaders: Success Stories from Today's Most Brilliant Generation & Leaders Review

Millennial Leaders: Success Stories from Today's Most Brilliant Generation and Leaders
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Millennial Leaders: Success Stories from Today's Most Brilliant Generation & Leaders Review
This was an interesting book to read. Supposedly it was written "to provide Generation Y with over 100 strategies for achieving career and personal success while also inspiring experienced leaders to be more open and receptive to the world views of Generation Y." Some might say it wasn't really written at all. But instead, was a compilation of 25 interviews taped, transcribed, edited, and glued together to make a book with the following five parts:
1. The "What" of the Y
2. The Entrepreneurial Spirit
3. The Digital Divide
4. Gen Y in the Workplace
5. Media Makes a Difference
The tag line to the title says this book provides "success stories from today's most brilliant Generation Y leaders." But I only saw nine of those. Six were included in Part II and three were included in Part IV. Those interviews were the best part of the book for me. I enjoy about reading success stories of people. And the fact that these young adults were still in their 20's was inspiring.
I was not familiar specifically about the time groupings for the various generations that make up our society today. The book informs us that there are basically four generations:
Traditionalists (Pre 1946 babies)
Baby Boomers (people born between 1946 to 1964)
Generation X (people born between 1965 to 1977)
Generation Y (Post 1977 babies)
I thought the book was well researched. And I thought the opinions of the supposed experts interviewed in parts I, III, and IV were somewhat accurate. However, in my humble opinion I think they all were unfair in describing Generation Y people (Y'ers) as "Generation Me." From what I could gather from reading the book Y'ers are into themselves. They don't like to work for others. And they think in the present rather than the long term. I felt the authors thought Y'ers are somehow different than the three generations that precede them.
I vehemently disagree. All four generations go through life the same way. All four generations do things based on incentives that are available to them. In our world today there are the haves and the havenots. The traditionalists and the baby boomers tend to be the haves. Generation X and Generation Y seem to be on the outside looking in. When the traditionalists and baby boomers went to school they did so with the expectation that there would be a good job waiting for them when they got out. And when they took a job with a company they usually correctly believed that the company would help them monetarily move up in their career and financially. There were incentives in place for those generations to be loyal to their employers.
Those same incentives do not exist today. The traditionalists and baby boomers either are at the top of the economic food chain and don't want to give up their financial status - or they are dutiful employees who just want to hang on to the job they have attained and the economic prosperity they enjoy. There is not enough financial prosperity around today for these people to share with the "new recruits," i.e., the X'ers and Y'ers. So the Y'ers see that the only way to get ahead today is to build their skill sets and become entrepreneurs.
There are three reasons for taking a job regardless of who you are: (1) to make money to support yourself, (2) to start a career where you can move up a ladder as an employee, or (3) to broaden your skill set so you can be a successful entrepreneur. People born before 1964 tend to have been in their 20's and faced a world that encouraged them to take a job for reasons 1 and 2. The world today encourages people in their 20's to take a job for reasons 1 and 3. It's just that simple. Y'ers are no different than the earlier generations. It's the world that has changed. And I felt as thought the advice provided by the experts in parts I and IV did not understand this reality. I got the impression that they thought the Y'ers were supposed to sacrifice so the haves could continue to have dutiful employees that won't job hop. I would have liked the book so much more if the message had been that the have's were going to have to accommodate the Y'ers so the Y'ers could eventually start their own businesses and be successful entrepreneurs. 4 stars!Millennial Leaders: Success Stories from Today's Most Brilliant Generation & Leaders Overview

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Service Quality (Marketing Science Institute (MSI) Relevant Knowledge Series) Review

Service Quality (Marketing Science Institute (MSI) Relevant Knowledge Series)
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Service Quality (Marketing Science Institute (MSI) Relevant Knowledge Series) ReviewThis is one of the monographs in the Relevant Knowledge Series published by the Marketing Research Institute. As Leigh M. McAlister explains in the Foreword, "Zeithaml and Parasuraman offer readers a rigorous and practical overview of service quality: how to define it, how to measure it, and how to improve customer service performance. They also discuss growing evidence of the strong links between service quality, customer loyalty, and profitability, and the still-emerging challenges of delivering quality service via the Internet." Quite true.
I especially appreciate the provision of an Executive Summary, followed by the authors' Introduction. This approach enables their reader to read strategically the material which follows, guided and informed -- but not limited -- by the remarks which precede it. Of special interest to me is what Zeithaml and Parasuraman have to say about the ten "Dimensions" of customers' assessments of service quality. They range from "Tangible" (e.g. appearance of physical facilities, equipment, personnel, and communication materials" to "Understanding the Customer" (i.e. making the effort to know customers and their needs). Basic stuff. No head-snapping revelations. However, Zeithaml and Parasuraman skillfully stress and correlate key points between and among the ten "Dimensions."
I was also interested in their analysis of SERVQUAL (introduced in 1988), an instrument designed by the marketing research team of Parasuraman, Leonard Berry,and Zeithaml (PB&Z). Through numerous qualitative studies, they evolved a set of five dimensions which have been consistently ranked by customers to be most important for service quality, regardless of service industry. These dimensions are defined as follows:
Tangibles: appearance of physical facilities, equipment, personnel, and communication materials;
Reliability: ability to perform the promised service dependably and accurately;
Responsiveness: willingness to help customers and provide prompt service;
Assurance: knowledge and courtesy of employees and their ability to convey trust and confidence; and
Empathy: the caring, individualized attention the firm provides its customers
Based on the five SERVQUAL dimensions, the researchers also developed a survey instrument to measure the gap between customers' expectation for excellence and their perception of actual service delivered. The SERVQUAL instrument helps service providers understand both customer expectations and perceptions of specific services, as well as quality improvements over time. It may also help target specific service elements requiring improvement, and training opportunities for staff.
Those who wish to learn more about SERVQUAL are urged to check out Raymond P. Fisk, Stephen W. Brown, and Mary Jo Bitner's "Tracking the Evolution of the Services Marketing Literature," Journal of Retailing 69 (published in 1993), pages 61-103; also Zeithaml, Parasuraman, and Berry's Delivering Quality Service: Balancing Customer Perceptions and Expectations, published by The Free Press in 1990.
When conducting workshops on customer service, I always begin with this observation: "I have both bad news and good news. First the bad news: Customer service has never been worse. Now the good news: Customer service has never been worse." Those organizations which reduce (if not eliminate) the gap between their customers' expectation for excellence and their perception of actual service delivered are the only organizations which will not only survive but prosper.
In this monograph, Zeithaml and Parasuraman explain with both rigor and eloquence HOW to accomplish that with cohesive, comprehensive, and cost-effective initiatives.Service Quality (Marketing Science Institute (MSI) Relevant Knowledge Series) Overview

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Trade-Off: Why Some Things Catch On, and Others Don't Review

Trade-Off: Why Some Things Catch On, and Others Don't
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Trade-Off: Why Some Things Catch On, and Others Don't Review
Compromises are inevitable and usually involve a trade-off in one form or another. In the business world, Kevin Maney suggests that there is an ever-present tension between quality and convenience, more specifically between what he calls "high-fidelity" and "high-convenience." He provides in this volume what Jim Collins suggests in the Foreword, a "strategic lens" that "does not in itself give an answer about what you should do, and not do. Rather - and much better - it forces you to engage in a powerful question, from which you derive your own insight and make your own decisions...The power of a strategic concept [such as the one Maney shares] lies first and foremost in giving us a lens and a stimulus for hard thinking and hard choices. The critical question is not its universal truth, but its usefulness. And in this, I think Kevin Maney has extracted a very useful framework."
Maney cites the CEO of Netflix, Reed Hastings, as an example of a business leader who obviously did some hard thinking before making a critically important decision. During a program at a conference that Maney attended, "Hastings said that his strategic decisions at Netflix were driven by one simple core principle: People are willing to trade the quality of an experience for the convenience of getting it, and vice versa." It occurred Maney that Hastings' core concept "was a terrific lens for viewing the way the world works. It can be an invaluable insight when dreaming up new products, when positioning brands, when planning company strategy, or when analyzing competitors."
Each day, business leaders are required to make decisions that involve trade-offs of one kind or another. I agree with Maney that "how they play out in the marketplace is the key to countless business successes and failures." That is what Maney characterizes as "the fidelity swap" and there are five key concepts behind it: fidelity (i.e. the total experience) versus convenience (how easy or difficult it is to get what you want), the tech effect (i.e. technology's impact on improving both fidelity and convenience), the fidelity "belly" (i.e. "the no-man's-land of consumer experience"), the fidelity mirage (i.e. that product or company can achieve both high fidelity and high convenience), and super-fidelity or super-convenience (i.e. this defines the "winners" such Apple's iPhone and Wal-Mart, both of which got to top of one axis or the other...but never attempted to reach both). Maney also identifies two significant additional factors: social accelerants that increase the importance of personal relationships even more and "wrecking ball" moments that occur when a new product or service (e.g. digital cameras in 2000) "smashes" a market sector and creates an entirely new one.
I was especially interested in Chapters Five and Six in which Maney discusses Super Fidelity and then Super Convenience. Is Super Fidelity possible? Yes, difficult but possible. Is it sustainable? Yes, but that's much more difficult to do. As Maney explains in detail, "Corning, the glass company, has thrived on high fidelity for 150 years." Others have done so for much shorter periods of time, notably the aforementioned Apple iPhones, Whole Foods, Cirque du Soleil, and Bose. "Perhaps no one in business understands fidelity better than casino owner Steve Wynn." With regard to Super Convenience, Maney cites and discusses several examples that include MTV, Century 21, McDonald's, and 7-Eleven. "One of the all-time kings of high convenience in the retail industry is Wal-Mart." However, as Maney then explains, Wal-Mart seemed to develop a corporate brain freeze" about 2000 when it "started doing things that were out of step with its long heritage in super-convenience," such as opening stores in the center of major cities (e.g. New York and Chicago) and carrying higher-priced, more fashionable clothes and advertising in upscale magazines. In an attempt to increase its aura, Wal-Mart was forgetting its roots as the lowest-cost retailer. Eventually, there was a corporate flaw, inner-city stores were closed, fashion ads and pricier clothes were eliminated, and a new marketing campaign was launched, based on the promise "Save money. Live Better."
In his essay The Hedgehog and the Fox, Isaiah Berlin divides the world `s creatures into hedgehogs and foxes, based on an ancient Greek parable: "The fox knows many things, but the hedgehog knows one big thing." Jim Collins picks up on this idea in Good to Great when introducing the Hedgehog Concept, explaining that "it is not a goal to be the best, a strategy to be the best, an intention to be the best, a plan to be the best. It is an understanding of what you can be the best at. The distinction is absolutely critical." Near the conclusion of Trade-Off Maney recalls a moment while reading Good to Great when coming upon the discussion of the Hedgehog Concept. "It's the notion that great companies figure out what they can do better than anyone else in the world, and then relentlessly focus on that. But the Hedgehog Concept doesn't just apply to companies - it can apply to an individual, too."
Maney then recalls a conversation with Collins. "He said that there are two ways to get to the top. One is to climb an existing ladder, which can be a bit crowded. The other is to make your own ladder, and put yourself at the top. It's a twist on the Hedgehog Concept - if you can't be the best in the existing category, figure out what you can be best at, and create a category that fits." Few companies achieve and then sustain either High Fidelity or High Convenience. (To the best of my knowledge, no company has ever achieved and then sustained both simultaneously.) Committing to one or the other requires all manner of trade-offs, based on hard thinking to make hard choices. To those now involved in that immensely difficult process, Kevin Maney offers a wealth of valuable information in combination with sound advice. In fact, I presume to suggest that his book is a "must read."Trade-Off: Why Some Things Catch On, and Others Don't Overview

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The AMA Handbook of Public Relations Review

The AMA Handbook of Public Relations
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The AMA Handbook of Public Relations Review
I loved it. Impressive. I won't say it is a "detailed" handbook to use to actually become expert at PR in the 21st century. But it is a wonderful book that covers the following:
>>New media [Web sites, blogs, & mircoblogs]
>>Old media [Newspapers, magazines, etc.]
>>Public speaking
>>Market research
>>Tactics for keeping up digitally
I'm not sure why "market research" was included. But then the book is sponsored by the AMA. I found the text to be well written and outlined. It is comprised of four parts that are broken into 19 chapters and three appendices. I urge you to examine the Search Inside feature Amazon provides for this book so you can see the 19 chapter titles.
Back in May, 2009 I read and reviewed Putting the Public Back in Public Relations: How Social Media Is Reinventing the Aging Business of PR. In that review I commented that there should have been a chapter on Investor Relations. Well, the instant book has one. See Chapter 13 and the related chapter on The Annual Report (14). I like both books. And I think they compliment one another. I highly recommend any public relations professional who wants to be competent in their field and make things happen today read both as companion books. 5 stars!The AMA Handbook of Public Relations Overview

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Managing Customers for Profit: Strategies to Increase Profits and Build Loyalty (paperback) Review

Managing Customers for Profit: Strategies to Increase Profits and Build Loyalty (paperback)
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Managing Customers for Profit: Strategies to Increase Profits and Build Loyalty (paperback) ReviewV. Kumar has always been on the leading edge, and this book is a testament to his thought leadership. More importantly, these ideas work in the real world. This book is a gift for all of us who wish to profitably increase customer loyalty.
Tim Keiningham
Global Chief Strategy Officer and Executive Vice President
IPSOS LoyaltyManaging Customers for Profit: Strategies to Increase Profits and Build Loyalty (paperback) Overview

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The Cornell School of Hotel Administration on Hospitality: Cutting Edge Thinking and Practice Review

The Cornell School of Hotel Administration on Hospitality: Cutting Edge Thinking and Practice
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The Cornell School of Hotel Administration on Hospitality: Cutting Edge Thinking and Practice ReviewCornell has written a very comprehensive reference which can be useful to all hospitality management and staff alike. I read it cover to cover and plan to share and dog-ear the pages extensively.The Cornell School of Hotel Administration on Hospitality: Cutting Edge Thinking and Practice Overview

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Hotel Management and Operations Review

Hotel Management and Operations
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Hotel Management and Operations ReviewMy review is based on having used Dr. Rutherford's book the past consecutive 7 semesters (incl summer) at Hawaii Pacific University's Travel Industry Management program.
The compilation of articles is ideal for us because chapters are short, but comprehensive and interesting enough to retain student attention. 95% of my students are foreigners, and my average class size is 30 students from at least a dozen countries.
Chapters have numerous references, and all the chapters have challenging case studies except Finance.
This particular construction lends itself to a variety of delivery techniques, as stated in the Preface.
My wish list for the 3rd edition would include: an instructor's manual or workbook, a testbank of questions, e-book version, reducing the content on Marketing (almost double the amount of information in other chapters), and adding a section on Information Technology.
Students, educators, and hospitality professionals will enjoy a favorable ROI on this purchase.Hotel Management and Operations Overview

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Open Leadership: How Social Technology Can Transform the Way You Lead Review

Open Leadership: How Social Technology Can Transform the Way You Lead
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Open Leadership: How Social Technology Can Transform the Way You Lead ReviewCharlene Li is one of the authors of Groundswell and that book helped set the stage for business use of social technologies. In Open Leadership, Li breaks away from her co-authors providing a discussion and examination of the social technology's impact on the enterprise in more detail. She enters a crowded world of recent social technology based books and adds value to the social technology conversation and less to the leadership conversation.
Overall this is a good book providing a starting point for people looking to understand what social technology is and what it may mean for the enterprise. However, the state of social technology has moved beyond naming names and describing solutions to understanding the tough decisions and executing plans to realize value in the enterprise. Li tries to take on these issues, but falls short, keeping this from being a great book. This is a four star social technology book and a two and a half star leadership book.
Open Leadership has more to say about social technology than a leadership or management. It spends most of its pages talking about social technologies and its implementations. The leadership aspects to this book are not unique to social technologies You can see this in terms of her new rules for open leadership
1.Respect that your customers and employees have power
2.Share constantly to build trust
3.Nurture curiosity and humility
4.Hold openness accountable
5.Forgive failure
These rules are important, but they are not unique to social technology. In fact similar rules have been the subject of management books for the last 15 years. It is not that these are wrong, or bad advice, but these are things that students of management and leadership already know.
I was looking for how one would use social technology to create open leadership and less about how social technology requires open leadership. Leaders should read this book, but more to get a sense of what others are doing, or can do with social technology than to see how their job and role changes in the enterprise.
STRENGTHS
The book is comprehensive covering a range of topics and questions. Li covers a wide swath of ground in social technology and the enterprise.
The book positions its discussion in multiple frameworks and classifications ranging from rules for open leadership, to types of leaders, to assessments and action plans. These are helpful to understand the issues and to coalesce the thinking described in the book.
The use of company examples and descriptions provide real life examples, which is good. The examples are from multiple industries, which is another plus. The case examples descriptive but do not provide sufficient depth for the reader to understand the issues they faced, the alternatives available and the reasons why they chose a particular course of action. Leaders need that depth of analysis as Li's recommendations seek to change their deeply held behaviors.
The book mentions a wide array of social technology solution providers, providing a market scan of what people are using and some of the benefits they are getting. This is helpful for right now, but the long-term value of these names will diminish over time.CHALLENGES
This book describes a first generation approach where companies use social technology as an overlay or channel for their existing marketing, sales and support activities. These first generation solutions are powerful and important, but they also do not fundamentally challenge what it means to be a leader or a manager - in large part because the solutions described do not change the fundamentals of the enterprise.
The tools in the book are understandable, straightforward and applicable to a broad audience. This is good but it can leave corporate executives with the impression that they are trivial for their situation. I know that the book has case examples from CISCO, Ford, Best Buy and others, but when you go to use the advice you use the tools not the stories. The business cases examples illustrate this point. They are hypothetical and in some cases double count benefits. They illustrate terrific returns on investment in percentage terms, but they do not show the tens of millions of dollars in benefits that would lead executives to consider changing their approaches.
The book distills leadership and management issues down into a set of policy upgrades that Li calls "sandbox covenants." It is a catchy idea and policy changes are important, but Li does not address leadership issues of organizational structure, business process, performance measurement, among others to make this a book about leadership. Omission of these leadership issues further reflects the use of social media at it inception as an overlay and channel rather than a deep force requiring reform and change across the enterprise.
The book's multiple frameworks, recommendations and chapter structure do not fit together as well as they could. It is as if Li is unsure of which argument to advance so the author provides multiple ones. Examples of this include the five rules and the overall chapter structure - they are similar in some areas but not in others. The major themes form the case studies in the last chapter do not connect to the rules, or the other aspects of the book. This is understandable given the breadth the author is trying to cover, but it detracts from the impact of the book as its always telling me new things that are loosely related with the old.
OVERALL
You may think that I dislike this book. I don't.
It's a good book and one that you will benefit from reading. But, this is much more of a book about social technology than about leadership and management. If in this review, your feel that I have been too critical, then please accept my apology as it is not my intent to do so. Given the exploding number of books out on social technology and the limited reading time we all have, I thought that it would be better to be clear about this book's content and strengths which fall more in the area of social technology than leadership or management.
If you are new to social technology, I recommend this book over Groundswell, as the state of the art has advanced and this book provides a good overview of where people stand in terms of social technology. It is a four star book in terms of social technology.
If you are a student of social technology, then you can read this book to learn more, but do not expect to learn a great deal more about changes in leadership or management. It is a two and half star book about leadership.
If you are a manager looking to learn more about social technology, how it changes your job etc. Then you can read this book as well, but know its limitations.Open Leadership: How Social Technology Can Transform the Way You Lead Overview

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