Sabtu, 19 Juni 2010

[G667.Ebook] Ebook Free Communication Theories: Perspectives, Processes, and Contexts, by Katherine Miller

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Communication Theories:  Perspectives, Processes, and Contexts, by Katherine Miller

Communication Theories: Perspectives, Processes, and Contexts, by Katherine Miller



Communication Theories:  Perspectives, Processes, and Contexts, by Katherine Miller

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Communication Theories:  Perspectives, Processes, and Contexts, by Katherine Miller

Providing a current and comprehensive discussion of influential theories in communication, this text portrays the strengths and weaknesses of each theory. Communication Theories helps students see where these theories fit in the broad scheme of social inquiry and generally guides students in the evaluation and critique of theories in order to reach a more sophisticated level of understanding. Although it emphasizes theories developed by communication scholars, Communication Theories also includes work developed outside the field that has strongly influenced the work of communication scholars. The second edition has been completely updated to include new or enhanced coverage of post-colonialism, critical race theory, new generation social penetration theory, and mass media reception theory.

  • Sales Rank: #566782 in Books
  • Published on: 2004-07-23
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.50" h x .79" w x 7.60" l, 1.60 pounds
  • Binding: Hardcover
  • 352 pages

Most helpful customer reviews

0 of 0 people found the following review helpful.
Five Stars
By Lynn P. Hartshorn
Concise and informative Com theory book...

1 of 2 people found the following review helpful.
A staple item for your bookshelf.
By dave smith
I found this textbook to be a great read. I would definitely advise communications scholars to hold onto this one for future reference.

0 of 1 people found the following review helpful.
Very Cheap
By mkelle30
Very cheap and convinient. Got a great deal on the book; instead of having to pay more than what i planned on.

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Selasa, 15 Juni 2010

[N428.Ebook] Get Free Ebook Building Materials Channel Marketing: How to Successfully Sell to and Through Residential and Commercial Builders, Architects, Distributors

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Building Materials Channel Marketing: How to Successfully Sell to and Through Residential and Commercial Builders, Architects, Distributors

No other industry is as dependent on the channel of distribution for it's success than the building materials industry. Many people new to the industry and ad agencies don't realize this and struggle to develop effective sales and marketing programs. There are no trade magazines or organizations for the building material marketer. They either have to rely on general marketing sources or their channel customer's organizations such as the NAHB or the AIA. I wrote this book to fill the need to both educate anyone new as well as to challenge the more experienced to take a fresh look at how they go to market. There are chapters on: How the Residential and Commercial Channels Work: The Importance of Influencers; Who has the Most Knowledge and Power?; The Biggest Mistakes Building Material Marketers Make; How to Sell Builders, Big Boxes, Lumber Dealers, Showroom Dealers, Contractors, Distributors, Architects, Design Build and Facility Managers; Marketing Budgets; The Problem with Trade Shows and How to do Them Right; The Problem with Agencies; and On Being Green.

  • Sales Rank: #506885 in Books
  • Published on: 2013-09-23
  • Binding: Hardcover
  • 144 pages

Review
In this book, Mark Mitchell graciously lets us behind the curtain in Building Materials Channel Marketing.��In the often-misunderstood building materials channel, the Wiz offers a well-balanced treasure trove of timeless strategies and new-world tactics based on real-world experiences. A brilliant must-read: for victory-driven marketing and sales and executive leadership, this book is hard to put down--but easy to pick up time and again as a go-to reference.�� Building Materials Channel Marketing is a true mark-a-teer masterpiece from a true mastermind. ----Robert Schindler, Senior VP of Strategic Marketing, Associated Building Materials

There are thousands of books on marketing for the consumer packaged goods industry, but there is scant research and insight on how to market to the building materials industry. This book encapsulates 20+ years of Mark s experience and outlines the challenges and opportunities for a BtoB manufacturer. It is a must read for sales and marketing professionals in the building industry. ----Joe Dachowicz, VP, Marketing, Overhead Doors

It takes a Whizard to make things, well, really simple. Our industry has been around since cavemen were living in the first DIY projects, their caves, and unfortunately with all the complexity we've created, at times it seems like we haven't evolved all that much. Enter the Whizard: whether you are a twenty-year veteran CEO or just starting as a building materials sales person or marketing specialist, Building Material Channel Marketing, clearly articulates the key motivators or the whys behind the decision making processes of each of the eight essential influencers in the building materials channel. And their whys are often very different. Mark also shares his insights regarding ad agencies and trade shows, and how our industry, because of the unique role of influences, requires uncommon common sense. This book will soon become part of the standard training program for new hires in every serious building materials company. ----Michael Werner, President/CEO of Globe Union Group, Parent of Danze/Gerber Plumbing Fixtures

About the Author
I grew up in Findlay, Ohio where my father had a small full service advertising agency. I started working for him one summer while in college and loved it so much that I dropped out. I found that the professor's theoretical vision of sales and marketing didn't compare to the real world. Being a contrarian I always tried to solve my clients B2B marketing problems with solutions that didn't involve advertising. I then worked for several other agencies before going out on my own. During that time, I became totally focused on working with building material manufacturers in channel marketing. I own Whizard Strategy, a strategic consultant and channel marketing agency in the building materials industry. I also speak, host webinars and write articles for industry publications such as ProSales, Builder and the NAHB. I write a newsletter and blog on building material marketing. I live in Boulder, Colorado with my wife. My two sons also live in Boulder. My interests are travel, photography, food and cooking. Here's how a friend describes me. Mark's a Wikipedia, a whizard and a world changer. You owe it to yourself to get to know him, you'll find the following truths will unfold. Mark is wizardly smart. Most people are considered smart because they accumulate truths, facts or experience. This level of smart is enough to run most companies. The distinct value of Mark is that he always attaches a unique vantage point or insight to what others settle to know or accept as reality, but this is wizardly smart. The most crucial way this benefits your business is in having a visionary on your side that helps you realize how much you (and your competitors) are not seeing. Perhaps what's most impressive, is how quickly Mark catches up to speed, begins thinking alongside of you and then shakes the foundation of what you view as possible. Having just one Mark around is a competitive advantage most organizations are starved for. Mark is extremely relevant Mark lives to learn, always traveling, reading and interacting with people to understand different industries, uncover sub-cultures and trends and apply it to his expansive world-view. Mark is bold. It's his gift to challenge the status quo and the way things have always been done. To Mark, it's insanity to continue to go about business as usual when there is so much opportunity each day for businesses to build momentum and capitalize on others who don't break from the norm. Mark is fun to be around. Everywhere he goes, he brings great energy and optimism that is both genuine and contagious. Negativity and pessimism don't surface in Mark's world. Mark is an original. There's only one Mark running around, and you'll quickly realize you've never met anyone quite like him. You'll uncover many idiosyncrasies that can make you laugh out loud or smile with intrigue and appreciation for his distinct personality. He wears crazy socks, has his own language (gifts are looloos), and talks to himself constantly. Many refer to him as that crazy guy Mark. Mark is valued. Those close to him personally and professionally, value his magic touch. There are countless examples of people who go on to new jobs or places in life that reach back out to him for his advice and a dash of sunshine. Mark is revered for creating a workplace where people can have fun, be themselves, and grow personally and professionally. Mark keeps his heart in the right place. Mark often strips away the barriers others put up in relationships in order to relate to you, to do what's right, to reveal himself, to look out for your best interests and create a lifelong bond.

Most helpful customer reviews

4 of 4 people found the following review helpful.
Great Building Product Industry Roadmap!
By stacy c.
Building Materials Channel Marketing is an excellent roadmap for both new and long-time participants in the building products industry. Most companies have sales teams which focus on one channel or another. Mark Mitchell has written a book which can help members of the sales and marketing teams increase their insight into more channels of the building product industry and find connections between channels which would otherwise go unnoticed. Companies would be smart to make this book required reading for all current and new employees on their sales and marketing teams.

Stephen Crouch

3 of 3 people found the following review helpful.
A great ROI in wisdom per hour
By Simon Baier
I am the marketing director for a sustainable commercial lighting company based in Boulder. I met Mark in passing a few years ago and got a huge download of useful information in just a few minutes of conversation. When I saw his new book, I rushed to Amazon to buy a copy. After reading a few chapters, I bought two more for my partners. The book is small in size and big in wisdom (a great reading ROI).

I've decided to review my Q4 marketing plan and am about to take another look at our company's 2014 financial model with fresh eyes.

Some of Mark's advice just reinforced what I already suspected, and other advice was truly eye opening. For me, the chapter on "How to sell to Facility Managers" was well worth the price.

I highly recommend this easy-read for anyone responsible for marketing of building products.

1 of 1 people found the following review helpful.
Bite-sized, succint bits of great advice and wisdom
By N. Sutton
Many of the marketing books you come across can be quite voluminous and full of fluff. Mark's book, though relatively short, delivers everything succinctly, and his insights are each packaged in an easily digestible chapter.

I read the whole thing through the evening it arrived on my doorstep, and it now sits on my desktop for quick reference. It is organized so you can quickly find the appropriate channel you might need advice on at any given time.

As an architect myself, the first chapter I opened to was "How To Sell Architects." Admittedly, I had a bit of a chip on my shoulder, hoping to find fault in Mark's assessments. Wrong. I found myself nodding along with each point he made, and was pleasantly surprised at how he got it right.

I'd highly recommend this book to anybody in the building materials industry, as well as any B2B company selling their products or services to (and through) these different channels.

See all 27 customer reviews...

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Minggu, 13 Juni 2010

[K934.Ebook] Free PDF Brand Relevance: Making Competitors Irrelevant, by David A. Aaker

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Brand Relevance: Making Competitors Irrelevant, by David A. Aaker

Branding guru David Aaker explains how to eliminate the competition and become the lead brand in your market. This ground-breaking book defines the concept of brand relevance using dozens of case studies—Prius, Whole Foods, Westin, iPad, and more—and explains how brand relevance drives market dynamics, which generates opportunities for your brand and threats for the competition. Aaker reveals how these companies have made other brands in their categories irrelevant. Key points: When managing a new category of product, treat it as if it were a brand. By failing to produce what customers want, or losing momentum and visibility, your brand becomes irrelevant. You can create barriers to competitors by supporting innovation at every level of the organization. Using dozens of case studies, this book shows how to create or dominate new categories or subcategories, making competitors irrelevant. Aakers explains how to manage the new category or subcategory as if it were a brand and how to create barriers to competitors. The book describes the threat of becoming irrelevant by failing to make what customers are buying or by losing energy. David Aaker, the author of four brand books, has been called the father of branding. This book offers insight for creating and/or owning a new business arena. Instead of being the best, the goal is to be the only brand around—making competitors irrelevant.

  • Sales Rank: #2372105 in Books
  • Published on: 2016-03-22
  • Released on: 2016-03-22
  • Formats: Audiobook, MP3 Audio, Unabridged
  • Original language: English
  • Number of items: 1
  • Dimensions: 6.75" h x .50" w x 5.25" l,
  • Running time: 12 Hours
  • Binding: Audio CD

From Publishers Weekly
Starred Review. Brand guru Aaker (Building Strong Brands) explains how companies can keep their brand relevant through innovation and the creation of new categories or subcategories that they can "own" in the minds of consumers. While plenty of books emphasize the need for constant innovation, Aaker dives deeper; customers determine brand relevance and companies as diverse as Japanese beer maker Asahi, Xerox, IKEA, Zappos, and Apple have each carved out a unique market niche, a niche that must be protected through the creation of barriers for competitors, Aaker argues. Postmortem evaluations of epic failures like the Segway, Nabisco's Snackwells product line, and Apple's Newton digital assistant will help brand managers avoid costly and high-profile marketing missteps. Those familiar with the author's work will recognize his textbook approach. His clear prose and honest assessments will resonate with small business owners or brand managers and should be required reading for anyone with a vested interest in keeping their company on the tip of their consumers' tongues. (Jan.)
(c) Copyright PWxyz, LLC. All rights reserved.

From the Inside Flap
This ground-breaking book clearly defines the concept of brand relevance and shows what it takes to channel innovation and manage the competitive arena so that competition is reduced or eliminated.

Throughout the book, branding guru David Aaker explains how brand relevance drives market dynamics using dozens of illustrative case studies involving brands such as Asahi Beer, Prius, Whole Foods Market, Hyundai, Zappos, Wheaties Fuel, Zipcar, Muji, Cafe Steamers, GE, SalesForce.com, and Apple. He reveals how brand teams have turned away from destructive brand preference competition by making other brands irrelevant.

Adopting Aaker's brand relevance model—in which innovative offerings form categories and subcategories—provides dramatic opportunities for brand teams with insight and the ability to lead the market. As Aaker explains, successful brand relevance competition involves four vital tasks: concept generation, concept evaluation, creating barriers to the competition and, critically, actively defining and managing the new category or subcategory. It also involves being on top of the market, the competition, and the technology so that they get the timing right, a crucial element of a successful brand relevance strategy.

Brand relevance is a threat as well as an opportunity to firms facing dynamic markets. Aaker shows how to avoid having a brand go into decline because people no longer consider it relevant.

Brands that can create and manage new categories or subcategories making competitors irrelevant will prosper while others will be mired in debilitating marketplace battles or will be losing relevance and market position.

From the Back Cover
Praise for Brand Relevance

"Aaker has nailed it (again)! The long-term viability of a business is inextricably linked to gaining a brand relevance advantage through new category and subcategory development and unique positioning."
—Joe Tripodi, chief marketing and commercial officer, Coca-Cola

"Most of our work as brand builders is reactionary, chasing each other's ideas. The result is a marketplace of sameness. David Aaker gives us fresh principles and real ideas to change that, to be truly innovative, to raise our game."
—Jim Stengel, former chief marketing officer, P&G

"Aaker has hit the nail on the head with Brand Relevance. You've gotta take the leap or risk getting left behind."
—Ann Lewnes, chief marketing officer, Adobe

"Brand Relevance shows how finding a higher purpose, a characteristic of great companies, can affect which brands customers perceive as relevant."
—Tony Hsieh, author, Delivering Happiness and chief executive officer, Zappos.com, Inc.

"Loaded with powerful examples, David Aaker's Brand Relevance book brings brand insight to the process of innovation."
—Ian R. Friendly, executive vice president, General Mills

"Clarity jumps off the first pages—it's less about the brand-preference battle than the brand-relevance war. And clarity continues as he presents a disciplined process leading to relevance wins and shows how to make innovation pay-off in the marketplace."
—Richard K. Lyons, dean, Haas School of Business, University of California, Berkeley

"Staying the course with familiar approaches to building brand preference risks the likelihood of being made irrelevant by those who jump on Aaker's brand relevance lessons and find new growth paths."
—Meredith Callanan, vice president corporate marketing and communication, T. Rowe Price

"A 'wake-up call' for a market leader because if the relevance game is lost so is its market position."
—Joseph K. Gross, executive vice president, Allianz SE

Most helpful customer reviews

15 of 16 people found the following review helpful.
Highly overrated
By Evan Miller
I'd like to throw some cold water on the reviews posted so far. I feel duped by the surfeit of 5-star ratings on Amazon as well as the endless litany of Praise From Important People on the book's jacket.

First, I do think there are good ideas to be found in this book. To make some real moo-lah you want to create a new category or sub-category. OK, got it. The creation of new categories is well-covered in other books, but I guess Aaker's contribution is to tout the creation of a sub-category from an existing category. Not exactly an earth-shattering revelation, but if you work at BigCo it might make the message of radical innovation more palatable.

The writing style and organization of this book are quite bad. First, the writing style. It appears that the author is capable of only one metaphor in marketing, and that is "winning the war". Everything is about "winners and losers", which seems to me at odds with the central premise of creating a new product category -- which create winners without necessarily making losers of existing players.

There is an unnecessary amount of jargon in this book. Instead of simply saying, "when other firms enter the market," he refers to "a brand preference context emerging." What?

I found a number of factual and typographical errors in the book. It becomes quickly apparent that the author is a "sales guy", not a "product guy". Every product introduction fits into a neat narrative, either succeeding wildly or being "too little, too late." There's really no depth of understanding about products or product psychology. I found it particularly troubling that he referred to IKEA furniture as "high quality." Even the folks at IKEA know that their stuff is not very well-made. That's part of their product positioning.

And now, the book's organization. It's terrible. The book starts, rather mysteriously, with a long-winded narrative about Japanese beer market share changing over time. It's up to you to figure out why you should care. Then there's a chapter on cars and a chapter on food. This would make sense if the author had a deep understanding of the psychology of car-buying or food-shopping, but it's basically a collection of unrelated "war stories" and market-share spanning a century. The Model T. The Porsche. The Edsel. The Yugo. The Volkswagen. The mini-van. Electric cars. What do they have in common? They're all cars! It would make a lot more sense to organize the stories according to concepts (such as "creating a new category"), but I guess that would only leave two chapters. As it is, organizing the book around industry will only be of interest to people in those industries -- except not, because again, he shows only a superficial understanding of the products themselves.

I'd like to go on, but I've only made it 40% through this book and I really don't want to spend any more time thinking about it. I want to give the book 2.5 stars but I am feeling charitable and will round it up to 3. If you want to buy books with actual content and original examples that cover the same turf, I recommend Blue Ocean Strategy by Kim and Mauborgne and Different by Youngme Moon. The latter exhibits the deepest product psychology of any marketing book I've read. Highly recommended, unlike this book.

1 of 1 people found the following review helpful.
Four Stars
By The Naked Truth Marketer
Great Information!

0 of 0 people found the following review helpful.
I don't care about typos, errors, structure or ...
By Jeffrey Summers
I don't care about typos, errors, structure or any other technical distractions (actual or imagined). What I care about are distinctive ideas that help me be more successful in what I need to do. Aaker does that here with Brand Relevance.

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Sabtu, 12 Juni 2010

[A542.Ebook] Ebook The Innovator's Hypothesis: How Cheap Experiments Are Worth More than Good Ideas, by Michael Schrage

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The Innovator's Hypothesis: How Cheap Experiments Are Worth More than Good Ideas, by Michael Schrage

The Innovator's Hypothesis: How Cheap Experiments Are Worth More than Good Ideas, by Michael Schrage



The Innovator's Hypothesis: How Cheap Experiments Are Worth More than Good Ideas, by Michael Schrage

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The Innovator's Hypothesis: How Cheap Experiments Are Worth More than Good Ideas, by Michael Schrage

What is the best way for a company to innovate? That's exactly the wrong question. The better question: How can organizations get the maximum possible value from their innovation investments? Advice recommending "innovation vacations" and the luxury of failure may be wonderful for organizations with time to spend and money to waste. But this audiobook addresses the innovation priorities of companies that live in the real world of limits. They want fast, frugal, and high-impact innovations. They don't just seek superior innovation; they want superior innovators.

In The Innovator's Hypothesis, innovation expert Michael Schrage advocates a cultural and strategic shift: small teams collaboratively - and competitively - crafting business experiments that make top management sit up and take notice. Creativity within constraints - clear deadlines and clear deliverables - is what serious innovation cultures do. Schrage introduces the 5X5 framework: giving diverse teams of five people up to five days to come up with portfolios of five business experiments costing no more than $5,000 each and taking no longer than five weeks to run.

The book describes multiple portfolios of 5X5 experiments drawn from Schrage's advisory work and innovation workshops worldwide. These include financial service approaches for improving customer service and addressing security challenges; a pharmaceutical company's hypotheses for boosting regulatory compliance; and a diaper division's efforts to give babies and parents alike better "diapering experiences" with glow-in-the-dark adhesives, diagnostic capability, and bundled wipes.

Schrage's 5X5 is enterprise innovation gone viral: Successful 5X5s make people more effective innovators, and more effective innovators mean more effective innovations.

  • Sales Rank: #83159 in Audible
  • Published on: 2015-10-09
  • Format: Unabridged
  • Original language: English
  • Running time: 418 minutes

Most helpful customer reviews

45 of 46 people found the following review helpful.
Innovate quickly with Cheap Experiments, but take the proposed "solution" with a grain of salt (has not been experimented with)
By Ron Kohavi
My team provides the experimentation platform for most online experiments at Microsoft (e.g., search for exp-platform), and I have been running online experiments for 12 years now, with Bing running about 10,000 experiments per year, so I know something about online controlled experiments. Michael Schrage quotes me a few times in the book, and encouraged me to write an unbiased review.

The book is written extremely well, and the overall message is absolutely spot on: most organizations would benefit from running cheap experiments and iterating quickly. In many cases, organizations get into analysis-paralysis instead of running simple experiments; worse, deep analyses often come late and have low predictive accuracy.

The 5x5 approach advocated by Michael Schrage says "Give a diverse team of 5 people no more than 5 days to come up with a portfolio of 5 business experiments that cost no more than $5,000 (each) and take no longer than 5 weeks to run."

My key observation is that the author proposes a solution with a plan to a problem, and violates his own advice to avoid such solutions. He's asking the reader to believe in exactly what he's asking others to suspend doing. There are many possible ways to get an organization to be data-driven. Is 5x5 better than others? Having been humbled by many good ideas that don't perform as well as people hope, I'm not sure there's data to say that the 5x5 proposal is dominating.

In the paper "Online Controlled Experiments at Large Scale" there's a section on the "Cost vs. Benefit and the Ideas Funnel" where prioritization of ideas is discussed, a mechanism that aligns more with the author's statement that "Experiments need to be seen and managed as investments" and less with the 5x5 approach.

Here are the key themes that I agree with
- Be "lean" and "agile" and run experiments quickly instead of analyzing and debating. Minimum Viable Products are a key theme
Mike Moran calls it Do It Wrong Quickly
- Reduce the cost of running experiments
- Experimentation is as much a cultural problem as a technical one.
A platform/system can solve the technical challenge, but it's harder to address the cultural issues
- Try to craft a hypothesis that the experiment answers, from which you can learn, whether the experiment is successful (e.g., rejecting the null) or not. If you change too many things, you learn little when the result comes out "flat."

A couple of themes I disagree with
- Experimentation is not a panacea for every problem and every organization.
There is little discussion in the book about when NOT to experiment.
Netflix and Amazon can make mistakes in recommendations, but you don't want many of those in Nuclear Submarines.
Knight Capital was agile and proud of their experiments, until in Aug 2012 they had an error that caused a $440 million loss and erased 75% of Knight's equity value.
- The section about "Good ideas" didn't work for me. I equate a good idea with a hypothesis that is true, i.e., that we validate in an
experiment. The author writes "The Earth is not flat; the moon isn't made of green cheese; and the future of business innovation
doesn't depend on good ideas. It never has....Good ideas are usually bad investments. They're rarely worth the time, money, or effort. They overpromise and underdeliver. They seduce and they cheat....Good ideas might be better described as the empty calories of enterprise innovation: accessible, tasty, and momentarily satisfying. But they're not good for you. They'll make you sick."
I believe this is a terminology issue, but I would have used "flash-in-the-pan idea" that upon evaluation is not really good.

Overall, this is a great book to read and buy for your managers, if they need to be better motivated on how to innovate better and faster with experiments.

16 of 17 people found the following review helpful.
5x5x100
By Abacus
I am sure the author is a very effective consultant. He knows his stuff. He has a lot of experience. But, this narrow subject just does not warrant a whole book. A 10 page essay would have more than sufficed. The writing is so repetitive because the author struggles to spread 10 pages worth of content over 200 pages of print. It just does not work. The title of my review indicates the author repeated his 5x5 concept a hundred times throughout the book. And, that's probably a lowball estimate. But, the book has other weaknesses.

There is nothing magic about the number 5. Although 5x5xetc... has a good ring to it, there is an unlimited way of gathering resources to conduct short-term, rapid feedback experiments. You can indeed try 5 different concepts with teams of 5 people each costing no more than $5,000, over a 5-week period. But, many innovations have been done with a single person, trying a single concept, costing close to nothing, with near immediate feedback in this Internet age. The single innovator may succeed not by trying very different concepts but by iteratively honing and tweaking his original concept and watch live the performance of his last iteration. That's a similar approach the author indicates that Edison, Jobs, Amazon, and other innovators have used. So, the author clearly understands this. But, it does contradict his 5x5 dogma.

Regarding designing rapid low cost experiments, there may be some avenues the author did not explore. Within the book, I did not see any mention of internal prediction markets that are used by many hi-tech companies to quickly differentiate what projects are successful. Also, I did not see any material on clothing companies like H&M that have specialized in doing short-runs of newly designed clothes and measure their sales performance nearly live and rapidly scale up production of the winners and shut down the losers.

Finally, his whole chapter on good ideas are actually bad titled "Ideas are the Enemy" is really bad. It goes without saying that whether an idea is good or bad can be assessed only after it has been tested. Nevertheless, you better give some thought to what idea/hypothesis you want to test to begin with. Just randomly, testing 5x5 a bunch of concepts you have not given serious thoughts to it is a waste of time.

Within that same chapter, his criticism of Keynes' supposedly vapid intellectual elitism is either misinterpreting what Keynes meant or misplaced. In this post-crisis era, economists make for good punching bags; and, often for good reasons. But, the author's punches for the most part missed the punching bag. He could have just as easily lauded Keynes who was among the first ones to advance that most often we really can't forecast (Keynes' uncertainty concept). Societies, economies are very complex systems with unanticipated interactive feedback loops. As such, Keynes provided the intellectual foundation for the author that given that we can't forecast, we better instead experiment to find out what actually works.

If you are interested in innovation and related developments, I have come across two books that do cover what the author does and a lot more. You may find those books interesting. The first one is Duncan Watts Everything Is Obvious: How Common Sense Fails Us and the second one is Smartcuts: How Hackers, Innovators, and Icons Accelerate Success by Shane Snow.

10 of 11 people found the following review helpful.
How and why "simple, fast, cheap, smart, lean, and important experiments can supercharge any serious innovation process"
By Robert Morris
As I began to read Michael Schrage's latest book, I was again reminded of a passage in Paul Schoemaker's latest book, Brilliant Mistakes: "The key question companies need to address is not `[begin italics] Should [end italics] we make mistakes?' but rather [begin italics] Which [end italics] mistakes should we make in order to test our deeply held assumptions?'" This is precisely what Anjali Sastry and Kara Penn have in mind when introducing, in Fail Better, what they characterize as a better approach to innovation: designing smart mistakes, learn from them, and thereby achieve greater success and do so sooner.

Peter Sims has much of value to say about this strategy in Little Bets: How Breakthrough Ideas Emerge from Small Discoveries. As he explains, "At the core of this experimental approach, little bets are concrete actions taken to discover, test, and develop ideas that are achievable and affordable. They begin as creative possibilities that get iterated and refined over time, and they are particularly valuable when trying to navigate amid uncertainty, create something new, or attend to open-ended problems."

In Serious Play (1999), Schrage introduces several core concepts that he develops in much greater depth in this, his latest book. The 5x5 X(experimental)-team approach is a rapid innovation methodology emphasizing lightweight, high-impact experimentation, as follows: "Give a diverse team of 5 people no more than 5 days to come up with a portfolio of 5 business experiments that cost no more than $5,000 (each) and take no longer than 5 weeks to run." Schrage adds, "the 5x5 seeks an 80/20/20 vision. That is, what hypothesis could we test -- what experiments could we run -- that generate 80 percent of the useful information that we need to make a decision in 20 percent of the time, and with but 20 percent of the resources that we ordinarily use to do so?" Schrage thoroughly explains the theory and practice of this method in the book. Yogi Berra once observed, "In theory there is no difference between theory and practice. In practice there is." Presumably Schrage agrees.

These are among the dozens of passages of greatest interest and value to me, listed also to suggest the scope of Schrage's coverage:

o The Business Experiment: A fast, inexpensive, and informative test of a business hypothesis (Pages 10 & 12)
o Implementation and prototypes (24-33)
o Experimentation and innovation (36-38 & 85-87)
o Warren Buffett (49-56)
o Resistance to business experiments (67-687, 85-88, & 178-179)
o Blockbuster (77-85)
o Julian Simon (89-92)
o 5x5 X-team approach (95-138)
o Business experiments (141-153)
o Charles Kettering (146-148)
o Business hypotheses (177-185)
o David Kelley (210-211)
o Decision theory (213-216)

I commend Schrage on his innovative use of (boxed) mini-commentaries, inserted throughout his narrative that include "The 5x5" (Page 5), "Formulating the Hypothesis" (11), "Moving from Hypothesis to Experiment" (12-13), "A Prototype Is a Hypothesis" (30-32), "Scott Cook, Founder and Chairman of Intuit, on Experimentation" (57-58), and "Q&A: The Experimenter [Gary Loveman]" (205-206). This material complements rather than supplements the information, insights, and counsel he provides elsewhere in the narrative. The same can be said of passages that examine experiments by real people in real-world situations, experiments that produced mixed results to be sure but demonstrate the truth of Thomas Edison's claim, "I have not failed. I've just found 10,000 ways that won't work." The companies that have --or should have -- followed the 5x5 X-team approach include (in alpha order) Amazon, Apple, Blockbuster, Delco, Facebook, GE, General Motors, Google, NCR, P&G, Tesco, Toyota, and Walmart.

John Kotter once suggested that the most difficult challenge to change initiatives is to change how people think about change. The same can be said about innovation and experimentation, as Schrage suggests in the book's final chapter, "Experimenting with Experimentation." He quotes Kevin Kelly: "Anybody who works in science knows that they're constantly finding new things that they don't know. It increases their ignorance...while science is certainly increasing knowledge, it's actually increasing our ignorance even faster. So you could say that the chief effect of science is the expansion of ignorance." You could also say, at least I do, that rather than increasing ignorance, science increases our knowledge of what we don't know. Some of the worst decisions people make are based on insufficient or inaccurate information. Hence the critical importance of testing all assumptions and premises. Paradoxically, the most innovative and creative thinking requires the multiple disciplines of the scientific method.

Here's Schrage's response to Kelly's comments: "Substitute business for science and opportunity for ignorance, and Kelly's tongue-in-check observation explains why the ongoing revolution in experimentation defines the innovation future. There's never been a better time for innovating with experiments or experimenting with innovation."

Obviously the "Whack-a-mole" approach to innovation makes no sense nor does a concentration of massive resources on one major experiment. Breakthroughs are few and far between lots of small, low-risk, prudent, and numerous experiments.

Invoking a set of horticulture metaphors, here's my take on Michael Schrage's approach: innovation requires careful planting of seedlings (i.e. ideas, possibilities, hypotheses) in properly prepared soil. Cultivate them and protect them for a while, then nourish those that begin to indicate promising growth. A few will. Perhaps combine a few of the others and keep an eye on them. Eventually, hopefully, there will a few robust results.

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