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Drive – the surprising truth about what motivates us By Dan Pink

February 6th, 2012 No comments

Drive – the surprising truth about what motivates us
By Dan Pink

Content = **** Readability = **** Clarity & Structure = ****

http://www.youtube.com/watch?v=u6XAPnuFjJc

IN A NUTSHELL

Rewards don’t work. People are more motivated by internal factors than by external drivers. Once basic financial needs are met, people are more motivated by having a desire for Mastery and a sense of Autonomy/selfdirection towards a driving Purpose (MAP).

External motivating forces (esp. money) tends to kill intrinsic motivation, leading to reduced levels of motivation.

Book Review by Paul Arnold

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Categories: Book Reviews

Adapt – Why success always starts with failure By Tim Harford

January 15th, 2012 No comments

Adapt – Why success always starts with failure

By Tim Harford

Content = **** Readability = ** Clarity & Structure = **

http://www.youtube.com/watch?v=KR_mCvb-KyY

PAUL ARNOLD – paul_arnold@me.com

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Categories: Book Reviews

The Marketer’s Handbook by Laurie Young

April 27th, 2011 No comments

Will marketing & sales people need to go back to school to make money effectively for their business owners?

A new book, published to coincide with the centenary of Britain’s “Chartered Institute of Marketing”, reassesses many of the tools and concepts by which business executives try to attract revenue and grow their companies.

Written by a senior marketing specialist with over thirty year’s experience, it implies that many will need to re-think the way they use their marketing budgets.

The book compares careful historical research, academic sources and modern business case studies to demonstrate the relevance and the limitations of a wide range of marketing ideas.

One of its main findings is, perhaps rather surprisingly, that there are successful marketing techniques which have been used to generate wealth but have been neglected in marketing teaching and practice. For instance:

 Celebrity endorsement is used throughout the world to market products & services, but it rarely made an appearance in marketing training. It has been institutionalised in many companies at the end of the last century; prompting the evolution of specialist supply agencies.
 A technique called “Thought Leadership” has been used extensively for several hundred years and is familiar in technology companies and professional practices today. For many, it is their prime method of marketing. It has yet to make an appearance in much marketing theory.
 “Relationship management”, particularly in “business-to-business” marketing, has bucked economic trends and created outstanding profits for a number of leading companies.
 Traditional “account management” is being abandoned by a number of leading companies in favour of a broader approach which seems to be gaining recognition as “Account based marketing”, because some of their customers’ businesses have bigger revenues than some nation states.

At the same time, “The Marketer’s Handbook” calls into question a number of cherished concepts in elementary marketing. For instance:

 The “four P’s” are superficial and unrepresentative of modern interactive marketing.
 A communications measurement technique called “AIDA” was made up by an American advertising consultant in 1899 and debunked in the 1926 article which several marketing teaching manuals use as its source reference.
 A strategy tool, familiar to every marketing student, called the “Ansoff matrix” was originally intended to be used the exact opposite of the way it is routinely taught today.
 Perhaps surprisingly, there has never been strong evidence for a concept familiar to many business people: the “product life cycle” of individual products or services.

The author argues that the misapplication of these cherished ideas has damaged businesses and meant that marketing has not made the contribution that it could.

The book also shows that some marketing techniques (like advertising, viral marketing and direct marketing) have been used for at least three hundred years. It asks why they have been so neglected and poorly codified. Rather startlingly, it lists approximately three hundred brands which were created before 1900 and a few which are nearly a thousand years old. It argues that (if brands inspire loyalty, differentiate an offer, command price premiums and ensure healthy margins for several hundred years) branding should be the main tenant of effective marketing.

Much of this radical and controversial challenge to accepted theory has been “peer reviewed” by both marketing professors and modern, practicing marketing executives. It is the first book to be endorsed and supported by a wide range of the West’s leading marketing institutes including: The American Marketing Association, The Chartered Institute of Marketing, The Marketing Society and The Institute of Practitioners in Adverting. In includes case studies about: IBM, Xerox, Microsoft, Guinness, Haier, Interoute, BT, River Publishing and Virgin Media.

The Author, Laurie Young says: “I have tried to write the book which I would have wanted when I first started my career. It describes each concept, attempts to show its historical context, gives authoritative sources and points to good further reading. My aim has been to help practical marketing and sales people to develop their own professional judgment of what works… because little else does”.

Laurie Young is also an expert on the marketing of services – his videos can be seen at OxfordLearning Lab www.oxlearn.com. A selection of videos from OxfordLearning Lab is used on all Oxford College of Marketing courses.

Categories: Book Reviews

A Paul Arnold Book Summary -The Outliers by Malcolm Gladwell

April 18th, 2011 No comments

The Outliers – by Malcolm Gladwell

Content = *** Readability = *****

IN A NUTSHELL

Genius is over-rated. Success is not just about innate ability. It’s combined with a number of key factors such as opportunity, meaningful hard work (10,000 hours to gain mastery), and your cultural legacy. Random factors of chance, such as when and where you were born can influence the opportunities you have.
Gladwell brings alive his assertions primarily through the use of individual stories of triumph.

KEY IMPLICATIONS

-When opportunity presents itself, seize it.
-There is no short-cut to mastery than ‘putting in the hours’.

THE 6 KEY POINTS IN THE BOOK

1) Opportunity knocks for some – often quite arbitrary (e.g. birthdates, in the right place etc)
2) Timing – Critical to success and opportunity.
3) Upbringing leads to opportunity – The quality of upbringing a child has been shown to be a key determinant on future success (even more so than pure IQ).
4) 10,000 hours – it typically takes that amount of time to ‘master’ something. People with opportunity have the chance to ‘do’ the 10,000 hours. Others don’t.
5) Meaningful work – If you feel there is real purpose to your work, it’s more likely you will work hard.
6) Legacy – Our Values drive our behaviour. Our values are often passed down from generation to generation (e.g. The Koreans are very deferential to authority, which led to a series of plane crashes; Asians reliance on rice meant they learned the value of hard work and perseverance – which shows through in their better ability at maths (also their language helps).

BOOK SUMMARY

There are two key parts to his book – Opportunity and Legacy

PART 1 – OPPORTUNITY

1 – Opportunity
Success is rarely found in the myths of rags to riches – rather there is a glimmer of talent identified, and then the door to opportunity is opened-up to the person (and not to others). That allows the gifted person the time and access to coaches, equipment etc to develop his/her skills, thus dramatically magnifying the difference between those with opportunity and those without.
Outliers are those people/groups who break the norms.

2 – 10,000 hours
In looking at lots of different areas, from computing, business through sport, to music there seems to be a magic number of 10,000 – the number of hours ‘masters’ of their chosen area have put in.

3 – Timing
Where, and the year you were born can influence your luck/opportunity. In the list of the richest people in history, 14/75 are American’s born in the 1860’s and 1870’s. This was when the industrial revolution was taking off, and the railways were being built across America and Wall Street started up. The same happened in Silicon Valley. All the top IT entrepreneurs were born between 1953 and 1956.
Those born in the 1890’s- to the early 1900 were less fortunate than those born after 1913. These people faced the great flu epidemic, the 1st World war, the great depression, and then were still young enough to be recruited into the 2nd world war (assuming one of the previous events hadn’t taken them out!).
Likewise in 1935. There were 600,000 fewer babies born that year which meant smaller class sizes, a greater chance to get into the good sports teams, colleges and hence greater chance of getting a good job at one of the better firms.

4 – Upbringing leads to opportunity
Involved parents – Sociologist, Annette Lareau studied 3rd graders in a long term ethnographic study. She concluded that involved parents vs. non-involved parents was the key difference that led to an individual’s success in life. Involved parents talk to their kids more and critically provide more opportunity for them (by taking them to museums, putting them into summer school, helping them with their homework etc etc). They also develop a sense of ‘entitlement’, so less likely to settle with the first ‘No’.
.

5 – Meaningful work
Meaningful work makes you want to ‘put in the hours’. Sociologist, Louise Farkas studied the family tree of many immigrants and found that their offspring became professionals. She put it down to the fact that it was because of their humble origins not inspite of it that they did well – i.e. they had been raised in a family where hard work was valued and practiced.

PART 2 – LEGACY

6 – Legacy
Our values are often unconsciously handed down to us from generation to generation, and as such cast long shadows over our current behaviour.
Dutch Psychologist, Geert Hofstede analyzed different country’s cultural tendencies. He identified a number of different dimensions, such as Individualism-Collectivism (i.e. how much a country expects you to look after yourself), Uncertainty Avoidance (i.e. how well a country tolerate ambiguity) and Power-Distance Index (ie attitudes towards hierarchy). Top of that list (i.e. those countries most deferential to power/authority) are Brazil, Korea, Morocco, Mexico and Philippines, with the US, Ireland and S Africa the least in awe of power.

Paul Arnold

Degree in Psychology

MBA

MSc in Change

Also a Master practitioner in NLP

 Paul was a graduate at Saatchi & Saatchi – where he stayed for 14 years, where he  ran Hewlett Packard and  Reckitts on a European basis.

He then left  to run GSK’s oral healthcare brands globally at Grey (where he stayed for 11 years)

He is now  running his own consultancy focusing on strategy, training and facilitation.

His specialities include Behavioural Economics and helping to manage multi-agency projects.