Cristian Mitreanu's Blog

Advertising the New Economic Worldview...

Recently, I have been running a banner ad on the popular economics blog "Marginal Revolution." The ad points to my previous post, which showcases a short video-presentation of the economic worldview built upon my theory of needs.

Here's the banner ad...

And here's a screen shot with the ad in action...

By the way, that "red thing" in the ad is Spointra's eye... Just a little play...

On Changing the World...

"[I]t ought to be remembered that there is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things. Because the innovator has for enemies all those who have done well under the old conditions, and lukewarm defenders in those who may do well under the new. This coolness arises partly from fear of the opponents, who have the laws on their side, and partly from the incredulity of men, who do not readily believe in new things until they have had a long experience of them."

That's Machiavelli in his famous book "The Prince" (circa 1515). The full text of this English translation by W.K. Marriott is available here.

Referenced in Upcoming Book "Strategy and the Fat Smoker"

My MIT Sloan Management Review article "Is Strategy a Bad Word?" will be referenced in David Maister's upcoming book "Strategy and the Fat Smoker." To be released in January 2008, the book brings together articles that David, a renowned consultant and former Harvard Business School professor, wrote over the past few years. Nevertheless, the bound galley shows that the articles have been slightly reworked and formatted to serve the main purpose of the book -- to offer practical advice on how to overcome short-term temptations and go after enduring corporate health. Simply put, the book shows you how to "get the fat smoker on the diet."

David previously referenced "Is Strategy a Bad Word?" in his article "What's Our Deal?" (also a chapter in the book), and in his blog entry "What IF There's No Final Whistle?" Although its release was fittingly timed to coincide with the New-Year-resolutions season, the book can be pre-ordered now at Amazon.com.

Spointra on YouTube

If you haven't seen this before, here's a short video experimentation featuring Spointra, the character from the book "Spointra and the Secret of Business Success." (For soundtrack I used the music of Vangelis and Stevie Ray Vaughn.)

UPDATE 5/16/2008: I embedded the Metacafe clip because it allows me to use the first frame of the video as thumbnail.

"Spointra" Available at 800-CEO-READ

Great news! "Spointra and the Secret of Business Success" is now available at 800-CEO-READ. Not a bestseller yet, but on the way there ;-) Check it out!

Feels Like 1871

Carl Menger wrote in the Preface of his 1871 book "Principles of Economics," which later became the foundation of the so-called Austrian School of economic thought:

"Never was there an age that placed economic interests higher than does our own. Never was the need of a scientific foundation for economic affairs felt more generally or more acutely. And never was the ability of practical men to utilize the achievements of science, in all fields of human activity, greater than in our day. If practical men, therefore, rely wholly on their own experience, and disregard our science in its present state of development, it cannot be due to a lack of serious interest or ability on their part. Nor can their disregard be the result of a haughty rejection of the deeper insight a true science would give into the circumstances and relationships determining the outcome of their activity. The cause of such remarkable indifference must not be sought elsewhere than in the present state of our science itself, in the sterility of all past endeavors to find its empirical foundations."

It makes you think -- it was written 136 years ago, and yet it remains so relevant today. Indeed, it feels like 1871!

I tried to say the same thing in my earlier post "Does the Long Term Matter?" but I could not be as concise as Menger. So, if you have not read this relatively short book yet, you should. Or at least, read the first chapter "The General Theory of the Good." The Ludwig von Mises Institute offers a free PDF version here.

Spatial Thinking in Strategy

Tiha von Ghyczy (Darden School of Business, University of Virginia) wrote an interesting article, "Constructing Strategic Spaces," as a precursor to a future book about spatial thinking in strategy. Here is one of the closing ideas:

"Strategy is a particular form of social coordination across scales of space and time that can be bridged only by articulated and shared thought. Strategic spaces are superb catalysts and vehicles for the thinking itself and for the articulation and the sharing. They are also -- unlike narratives in the form of vision and mission statements -- open-ended and highly plastic."

Remember, the concept of ofmos, introduced with my fundamental theory of business at BizBigPic.com and later presented in the book “Spointra and the Secret of Business Success,” is actually a strategic space.

What Is To Become of the Business Book?

In the press release (PDF format here and HTML format here) announcing my book "Spointra and the Secret of Business Success," I identify some major developments in the business book space.

"We are an increasingly busy global society, and finding time to read a book can be difficult. Book reviews and executive summaries have become the norm. However, the lack of time is not the only culprit. This trend is also encouraged by a few negative developments in the business book space. First, the most obvious problem is that many business books simply repackage old ideas without bringing anything new. Second, not only can many books be distilled to a few pages, but they are built upon an initial article or paper without providing significant improvements. Third, many books use cherry-picked business cases or examples in order to hide flaws or limitations in the presented concepts. Finally, the most important problem is the generalized neglect of what I call 'executive serendipity,' which refers to seemingly-ingenious business decisions that actually occurred accidentally. Although this phenomenon plays a major role in business, many books tend to ignore it because most theories are rational, which means that they are based on the assumption that every result has intent behind it."

Obviously, I see these developments as problems and, therefore, opportunities. The choice of format for my book was a direct response to them. So, what is to become of the business book? Here are some of my thoughts, which I expressed in the same press release:

"Our book requires slightly more time to read than a review or an executive summary, however it provides ten times more fun... assuming that the fun associated with the review or summary is greater than zero," continues Mitreanu. "Its layout allows the reader to make her or his own judgment with regard to the validity and practicality of the theoretical concepts. And speaking of fun, another reason for using the graphic novel format is the fact that books as the sole vehicles for disseminating ideas are increasingly irrelevant in our highly networked world. A successful business book must do more than just deliver an idea... which, if valuable, will spread over the Internet anyway. 'Spointra and the Secret of Business Success' is a high-quality hardcover that can also serve as a coffee table book, allowing for easy access and brief, thought-stimulating immersions in its storyline."