Harvard Business Publishing

Being an entrepreneur has more to do with a state of mind than a state of employment. And when you think of being an entrepreneur, it doesn't just mean starting a company — I've started over half a dozen successful companies but have also brought my experience to established companies. Right now, I am the President of a public company I did not start — so I may in fact be an "entrepreneur gone bad." One of the most consistent things I hear entrepreneurs say is, "I have this great idea." And the advice they often get is to write a business plan and make it their bible. Most entrepreneurs firmly believe there is nothing better than a solid plan couples with a great idea. But don't confuse being an entrepreneur with being an inventor. Great ideas are a dime a dozen. Action is what differentiates an entrepreneur from an... Keep Reading »

I recently spoke at and attended the Conversational Marketing Summit in NYC. On day two, I heard something from Brian Wallace of Blackberry that echoed thoughts I've been preaching for a while. He said "I was selling in the idea that social media is free, until the community manager headcount came in." This underscores a fundamental truth to social media that many organizations underestimate--being social means having real live people who actively participate in your initiatives. It's difficult to automate and a challenge to scale, but it can also help move your business forward in ways that produce leveraged outcomes such as new/better products or services. The economics of using social media in business require the participation of people to fuel it. It is not simply enabled by technology that maintains itself. One of the biggest lessons to be taken away from a social platform such as Twitter is that... Keep Reading »

Of all the scientific challenges facing the world today, none are as critical to humanity's future as energy, water, and agriculture. While area-specific research is underway worldwide to find cost-efficient solutions, most of the R&D is conducted within silos that, according to the initial research design, do not allow for interdisciplinary interaction. Viewing these three critical areas as independent, however, overlooks their inherent interdependence.First, as the search for efficient and sustainable energy resources grows, hydroelectric power will reign supreme. Second, more countries will need to invest in seawater desalination, an extremely power-hungry process, in order to provide water to growing populations. Third, the resultant energy and clean water will be deployed largely to agricultural processes to provide basic sustenance.Given the connection between these forces, it is critical that tomorrow's innovation projects be designed in ways that allow for co-location. Innovation strategies built around the principle of co-location — where interdisciplinary... Keep Reading »

Online community and social media are hot areas for business these days, as companies recognize the Internet's potential to deepen customer relationships, share knowledge and strengthen teams. In the nonprofit sector, relationships have always been the key currency: the relationships with the members, donors and supporters that NGOs depend on for volunteer labor, financial support and advocacy muscle. Because nonprofits are so deeply invested in the relationship business, and because they often have not just a notional but a structural accountability to their members, many NGOs were early adopters of online community tools. NGO-run online communities and social media presences offered nonprofits a new way of stoking and harnessing their members' loyalty and passion; and in their many successes, businesses can find key lessons for using social media to enhance customer relationships, too: 1. Engage your audience by speaking to their core concerns. Social media marketing campaigns often rely on... Keep Reading »

In early 2008, when U.S. markets began to slide but Asian markets held steady, analysts worldwide asserted that western economies were decoupled from those in emerging markets, namely China and India. The crisis, it seemed one year ago, was a problem created by and for those in the west. As 2008 ended and 2009 began, however, growth rates in China and India, while still impressive, did not meet expectations. Decoupling theorists, tails between their legs, rushed to offer different explanations of the economic conditions, and while, yes, Asia felt the pain of the recession caused by the west, they are now emergent again, reaping the benefits of their own stimulus plans, proving perhaps that the decouplists were on to something. And now, as China and India lead Asia -- and the world -- into recovery, it's fair to wonder if the next step in globalization will be governed by a... Keep Reading »

I am part of a team of 25 graduating Harvard MBAs who created the MBA Oath, pledging to lead professional careers marked with integrity and ethics. My classmates and I are aware of the low opinion many people have of MBAs, especially in the wake of the financial crisis. We don't want to be known as the least respected profession in America (though some polls say MBAs hold that distinction). We want to be known as professionals, who look after the best interests of their clients, customers, employees and shareholders. Our goal is to begin a widespread movement of MBAs who aim to lead in the interests of the greater good and who have committed to living out the principles articulated in the Oath. This year, U.S. schools will award more than 100,000 MBA degrees, more than twice the number of law degrees and medical degrees combined. And yet the... Keep Reading »

Every communication is two conversations: the content and the body language. When the two are aligned, a speaker can be powerful — even charismatic. When they are not aligned, the audience believes the non-verbal every time. How well did President Obama's Cairo University speech yesterday measure up in this regard? Obama's elegant and sweeping rhetoric talked about openness, listening, and peace. What did his second conversation talk about? Caution, restraint, and an unwillingness to risk very much. This was not an emotional performance; it was a careful, measured one. Let's take the second conversation apart. President Obama has the posture of a leader. He strode out to the podium with the confident and upright bearing of someone in command. His wave to the audience was that of a leader acknowledging the many. As he began to speak, Obama nodded repeatedly, acknowledging the crowd and building agreement with them. The President... Keep Reading »

Since the GM bankruptcy announcement, I've heard quite a few people talk about World War II, when American auto factories transformed, practically overnight, into airplane and weapons factories. Here, for example, is documentarian and Flint, Michigan native Michael Moore: Just as President Roosevelt did after the attack on Pearl Harbor, the President must tell the nation that we are at war and we must immediately convert our auto factories to factories that build mass transit vehicles and alternative energy devices. Within months in Flint in 1942, GM halted all car production and immediately used the assembly lines to build planes, tanks and machine guns. The conversion took no time at all. Everyone pitched in. The fascists were defeated.Moore is given to overstatement. But he's far from the only one suggesting that we should use Michigan's stalled assembly lines for a new and more sustainable purpose. Could we do it if... Keep Reading »

The meetings and conference business has taken hits from the economy and Joe Biden telling everyone he wants his family to stay off airplanes. But, much like the overall economy, the business is slowly turning around, or at least slowing its decline. So this is a good time to take a moment to consider the conference business in general. What could it do better when it comes roaring back in 2010? Following are my three radical suggestions for improving meetings and conferences. 1. Conferences and meetings should tell unique stories. Think about how conferences and meetings are typically planned. A committee picks a theme. Then someone finds a keynote speaker to open, and maybe one to close. Then the committee divides the rest of the time up into 60-minute slots and fills them with 'breakouts', panels, workshop leaders, and so on. The result? From the conference-goer's point of view, it's... Keep Reading »

Talks of double digit growth rates for India and the potential to arise as an economic power have dominated the forecasts of the world economy. However, certain conceptual and analytical issues that have so far been relegated to the background of the growth and performance story need attention now. The sustainability of the growth rate and the propulsion of the country to achieve its target are under question unless India develops as an integrated whole of regional competency. India, USA and UK are comprised of different states with different resource and market conditions. Of the 50 US states, only 20 percent can boast of a per capita GDP greater than the national average of $45,845. Delaware has a per capita of close to $60,000 while a Mississippi is a little above $20,000. These regions display the highest and the lowest growth rates, respectively. The regions in UK (average per capita... Keep Reading »