Commerce Matters with Benjamin Akande: Barack, Inc.: Lessons From Obama's Campaign

24-Jul-2009
Published in: Ladue News
Author: Benjamin Ola. Akande

Business schools who use case studies as a basis for teaching understand the value that lies in learning from the success and failure of others. Combining their own observations with those of media experts, authors Barry Libert and Rick Faulk break down the unprecedented campaign of our 44th president and what businesses can glean from it in their new book Barack, Inc.: Winning Business Lessons of the Obama Campaign.

The authors offer critical lessons from one of the most successful presidential campaigns of all times. Some of the lessons are tried and true business practices, others are cutting edge. Together, they lay out a blueprint with practical insight on managing projects, the ability to focus and the power of results. Barack, Inc. is not a love letter lauding the candidate (now president) as perfect. In fact, Libert and Faulk use mistakes and how they were handled to highlight lessons from the campaign.

Take for example "no drama" Obama's unflappability. Staying cool under pressure and ignoring all distractions allowed the candidate to stay on message, correct problems seamlessly and adjust quickly. Like a well-heeled business leader, he could do this because of his soundly built organization, the contingencies it had at the ready and the organization's ability to implement those plans at a moment's notice. Staying cool also means leading with humility, a trait that doesn't come second nature for most business leaders. But, the upside of putting egotism and pride aside to gain feedback from bright, opinionated people will always pay off with a more cohesive workforce.

In Barack Inc., the authors wrote candidly about the Obama campaign's use of social networking. From Facebook and Flickr to Twitter and YouTube, it could be said the candidate was able to blog and text himself to 1600 Pennsylvania Ave. Tapping into the world of the iPod generation (18 to 28 year old voters), Obama's supporters were able to register millions to vote for the first time while also setting fire under individuals who sparked a nationwide virtual campaign. Only by embracing the new, nurturing 'netroots' and knowing when to let the platforms speak for itself like the Obama campaign did can business in the 21st century compete in a Web 2.0 world.

"We are the change that we seek," Barack Obama said on the campaign trail. And according to the authors, his choice to embody change over running away from it or turning it into a marketing ruse made all the difference to his campaign. He used it to challenge his opponents, who campaigned on 'past' experience and to share his vision of the future. "Change is the engine of both politics and business, the power of growth and progress," the authors write. What better time than now for business leaders to initiate change for their companies and become the new brand of commander-in-chief their organizations need to battle the current economic realities?

Taken by Obama's strategy for success and what it can do to help turn businesses around, the authors call on their readers to e-mail the dean of their favorite business school and urge him to offer a crash course in Obama campaigning and leadership. I think I will heed that advice and contact the dean of business at Webster University asking that he look closely at this request!

As a student of leadership, I believe that leading is a marathon and the race is won not necessarily by how fast you go but by your ability to pace yourself. Obama's tenure as President of the United States will not be measured or remembered by what he did in the first 100 or 200 days but by the collective achievement over the next 1,460 days in office. It's a long way from here to there; but the leadership he displayed during the campaign and in the initial days may provide some verification of his potential for success. To find out whether that potential becomes a reality or not, we will have to wait until the end of this marathon.

Word of Mouth Epidemic

22-May-2009
Published in: Ladue News
Author: Benjamin Ola. Akande

This being the information age, I think we sometimes forget the importance of personal communication. In 1990, just after Lexus introduced its luxury cars in the United States, the company realized two minor problems with the LS400 would require a recall. Lexus had decided from the beginning to build its reputation around quality workmanship and reliability, and now, a little more than a year into the brand's launch, the company was being forced to admit problems.

Most recalls are handled in a public announcement via TV, radio, letters to owners, fax or in publications. Lexus wisely decided to convey its message about the recall in the most personal and direct manner. So the company called each owner on the telephone the day the recall was announced. When owners picked up their cars at dealerships after the repair work was completed, each car had been washed and the tank filled with gas. If an owner lived more than 100 miles from a dealership, the dealer sent a mechanic to the owner's home; in one instance, a technician flew from Los Angeles to Anchorage to make the repairs!

Needless to say, the company emerged from what could have been a disaster with a reputation for outstanding customer service that continues to this day. One automotive publication later called it "the perfect recall." By going the extra mile in a personal way, Lexus successfully kick-started a 'word-of-mouth epidemic' about the quality of its customer service–something that would not have happened had the recall been conducted through letter, fax or media broadcast.

This is a story about the value of communication. The effectiveness of our message can depend more on how the message is delivered than the message itself–and that includes our dealings with colleagues, business partners and clients. Do you take the easy, least resistant way to communicate your message? Have you become addicted to e-mail, more comfortable sending those impersonal sound bytes than meeting face-to-face? Do you prefer to leave a message on the voice mail rather than engage in a telephone conversation? Are you eager to draft memoranda to colleagues outlining an idea and/or concept and shy away from calling a meeting or walking down the hallway for a brief discussion? Beware.

We live in a world of instantaneous information where we demand immediate response(s) to all our questions. We find a way to get what we need, when we need it. But all this immediacy comes with a steep price. We have dehumanized the value of looking someone in the eye, observing their body language, and assessing a positive or negative reaction to our message. Remember: There is no replacement for that. Gone are the days when we rely on the variation in a person's voice for an indication of how they respond to our ideas, comments, observations. Today we have literally to read between the lines, to guess what the words truly mean, hoping against hope that the written word is accurate.

How are you communicating your message? That is something everyone, from friends to business associates, should ask themselves. And is that communication the most effective way to convey your message?

Finishing What We Start: A Lesson in the Power of the Positive

27-Apr-2009
Published in: MarketWatch
Author: Benjamin Ola. Akande

The following is a statement by Benjamin Ola Akande, Dean, School of Business and Technology, Webster University:

During these times of global and personal disarray, it's easy for an overall gloom to creep into our lives, without our even being aware that it's happening. Yet amid the doom and gloom, we can usually find paradigms of courage so inspiring they help us put life in perspective. I had the privilege of witnessing one such example during the recent graduation ceremony of Webster's Marymount campus MBA program in California.

Among the graduates was a young woman in her mid-30s whose personal story speaks to the resiliency and character of many, many people the world over. As the festivities sprawled across this picturesque campus on the tip of the Pacific Ocean, I noticed this young lady with a bandana on her head. You couldn't miss her. She displayed a youthful vigor, warmth and energy that belied her sobering circumstances. For while all those around her were jubilant amid the congratulatory wishes of family and friends, she had accomplished something in addition to earning a degree: She had beaten breast cancer. She had successfully completed her education while balancing work, life, family and a battle with cancer. Yet it was clear by her demeanor that neither energy-draining chemotherapy nor the threat of death had dampened her spirit.

So how does all this figure into a column on business? Call it a lesson in the power of the positive. This woman clearly focused on what could be achieved, rather than what could not'something businesses, investors and consumers can all benefit from, especially these days. She did not let the darkness overtake her daylight. Instead, she illuminated her world and those of her classmates, as well, with her light. As I watched her, it occurred to me that many of our students across the world of Webster face mind-numbing challenges while striving to get an education and earn a degree'a sobering thought when we are inclined to grouse about the shrinkage in our 401Ks.

No, life is not fair, but is that important'or even relevant? Many who work hard to overcome challenges are still thrown additional curve balls at 96 miles an hour, yet they step up to the plate and wait expectantly for the next pitch. But just like these 'batters,' we as a nation are being tested in today's economic climate. It is a test of attitude and character. Are we acting with integrity no matter how tough our circumstances get? Are we able to remain positive and prevent the ensuing economic times from bringing us down?

Life is a long marathon with rough roads, speed bumps and unexpected turns along the way, but the winners are those who have trained their minds as well as their bodies. It's a journey that we all get to travel just once, and the obstacles along the way make our achievements all the better. In closing, I recall the poem by Patrick O'Leary, Nobody Knows It But Me, which speaks to the journey of life, the personal battles we confront daily, and the importance of tapping our inner selves to help us finish what we start.

There's a place I travel when I want to roam,

And nobody knows it but me.

The roads don't go there and the signs stay home,

And nobody knows it but me.

It's far, far away, and way, way afar,

It's over the moon and the sea.

Wherever you're going that's wherever you are,

And nobody knows it but me (you).

Soapbox: The Web Savvy Generation

5-Apr-2009

Published in: Financial Times

Author: Benjamin Ola. Akande

In his book, How Will Millennials Manage?, Professor James Heskett of Harvard Business School says leaders of the future must be able to embrace change. No problem: born between 1982 and 2000, 115m iPoders are waiting in the wings and fast-paced change is what they are all about.

Who are these iPoders? They are a growing population that is internet-savvy, phone-addicted, opportunistic and digitally conscious.

The iPoders have extra limbs to accommodate an iPod, BlackBerry and laptop. This iGeneration is the first raised exclusively on computers. They move at breakneck speed, texting, e-mailing and twittering. Technology is their oxygen.

From the horrors of September 11, 2001 to the limitless possibilities of digital technology, the iGeneration has seen the worst and best the world has to offer. An added burden is that they have become the post-great- recession generation.

So what will the future look like with iPoders at the helm? It will be a future of innovative doers, who value independent thought. To stay relevant, organisations must successfully recruit and retain them. Andrea Hershatter, associate dean at Goizueta Business School, Emory University, says of iPoders: "They don't feel entitled because they are special. They just want to have those who are closest to them support their quest to achieve and accomplish meaningful goals."

The iPoders want things to move at a pace that is incomprehensible to the baby boom generation.

The greatest challenge for iPoders is discovering that wisdom cannot be attained from behind a laptop or from an iPhone. They want a world without limitation: wireless access any time and anywhere. While they form and sustain their social and, some day, business connections, technology is their one true, constant companion. My advice to iPoders is to seek what Professor Dorothy Leonard of Harvard calls "deep smart" – achieved by learning from other people's mistakes, seeking wisdom from others and, if I may add, embracing the traditional mode of learning in the classroom.

An iPoder's rule of thumb is: "Don't ask until you've Googled" – and they see technology as a way to answer all life's questions, as well as to meet people and stay connected with friends. Trust does not need to be developed face to face. For a generation that uses the internet to buy everything from cars to diapers, trust can be nurtured through social networks and e-mails.

I recently asked some students: "What should business schools do to engage iPoders? Their responses were pointed. The iPoders want schools to recruit young faculty who are practitioners in their fields. They are concerned about being competitive in a tight marketplace and question the value of faculty with little or no corporate experience. They question the readiness of such faculty for the corporate world when their academic preparation has been based on strategies learnt in the classroom that may not be relevant in today�s financial environment.

The iPoders want business schools to introduce delivery methods that use blogs, social networking sites and texting. They predict that the future belongs to those schools that transform themselves by operating in the internet-driven space.

Organisations that harness the iPoder's understanding and appreciation of technology, recognising innovation long before it arrives on the scene, will be the destinations of choice. The organisations that iPoders will be attracted to are the ones savvy enough to welcome emerging trends, bold enough to change long before they have to and smart enough to recognise technology as the currency of the future.

The iPoders know the economic climate offers opportunities enabling them to emerge from today's crisis empowered and ready to transform the future. They are determined to learn from the failures of the previous generation but do not want to waste time doing it. Their sense of constructive impatience gives us hope for our future.

Benjamin Ola Akande is dean of the School of Business and Technology, Webster University

Lessons from Humpty Dumpty

20-Feb-2009

Published in: Forbes.com

Author: Benjamin Ola. Akande

As a child growing up, I was raised and nurtured with nursery rhymes, some made up by my parents, others borrowed from a long list of universal rhymes. One has stayed with me all my life: It is a story of risk, failure and perseverance, the story of Humpty Dumpty, the anthropomorphic egg who tried to defy the odds and met with interesting results. Humpty Dumpty sat on a wall. Humpty Dumpty had a great fall. All the king's horses and all the king's men couldn't put Humpty Dumpty together again.

The key word is the very last one: 'again.' It implies that this wasn't the first fall for Humpty; he was a serial risk taker. In my eyes he was bold, fearless, unrelenting and entrepreneurial. Humpty obviously believed in setting stretch goals and was very familiar with the reality called failure. But, this egg refused to allow failure to define him. Failure for Humpty was just real-time feedback, an opportunity to regroup, reassess and try again until success was eventually achieved.

That attitude is a most valuable skill in today's challenging climate. The wall is a simple metaphor for the singular act of overcoming adversity. Climbing a wall is moving beyond where you are, overcoming adversity, challenging conventional wisdom, pursuing goals that are not easily achievable and refusing to give up in that pursuit.

There are many people the world over who now find themselves faced with the greatest challenge of their lives. They have lost jobs, homes, life savings and are gradually losing confidence. They are down because they have fallen. As we contemplate the severity and hopelessness of the present and seek to overcome the uncertainty of the future, I believe it's helpful to invoke the story of Humpty, a journey of endurance and the willingness to keep trying. The lesson behind a childish rhyme speaks of the courage to seek challenges, to gratefully accept help when needed and to persevere when there is no apparent reason to do so. It's also a reminder that even when you do everything right–remain loyal to your employer, invest your money in a 'foolproof' fund, pursue the American Dream--you may fall and fall again. Remember, when we fall we should strive to get back up and not allow setbacks to define who we are.

No one is perfect. At times, we make faulty judgments. Perhaps we overreach as we try to make life better for our families. Sometimes, we act based on fear versus hope. At other times, our overconfidence leads the way when it should be tempered. Occasionally, our desire to keep pace with our peers leads us down a slippery slope. All of these imperfections speak to the story of Humpty and the resolve to scale the wall of obstacles. There is a little Humpty Dumpty in all of us. We have fallen, yes. We have been broken, certainly. But somewhere deep inside–behind the doom, beyond the gloom–we still have our eye on that wall and are ready to successfully climb it, cracks and all, as insurmountable as it may seem.

In closing, I am particularly impressed with Humpty's support group: his friends, all the king's horses and all the king's men. They provided the ultimate safety net. We have all climbed that wall and have fallen many times, but if it weren't for our 'king's horses and men,' getting back up would have been impossible. They gave us the endurance to keep on keeping on. These are the kind of friends we all need, especially these days.

As we grapple with these difficult financial times, may our journey be blessed with good friends and may we learn as much from our falls as we do from our ascents.

Benjamin Ola. Akande, Professor of Economics, Dean, School of Business & Technology, Webster University.