Karaoke Capitalism

A friend loaned me a business book called Karaoke Capitalism, hence the title, by two Swedish PH D's. And I have to say that it was the best business book I have ever read... he told me it would be... I should have had more faith in him. Either way, if you like business and the evolution of it historically as a guiding light for predictive paths, this is unquestionably the book for you. The nice thing about it is that the book is written almost from a conversational perspective. It just flows. It also covers a broad range of topics some of which I have highlighted below. In a nutshell, this book is about the evolution of business outside the box.

The concept of employees being a company's biggest liability is a new paradigm for me. However due to the proliferation of the Internet and the subsequent reduction of the shelf-life of knowledge, tied to the lack of loyalty in today's society presents exactly this scenario. It is certainly exemplified by friends of mine that have changed jobs more often then they do underwear. At the same time it appears that the value of the individual and their ability to contribute effectively may be jeopardized by extended tenure these days. Do stagnant employees lose the ability to think outside the box? My guess is that this depends on the person.
It also focuses on the evolution of the consumer driven economy. Currently this is most apparent in the evolution of Software as a Service companies like eBlogger or Salesforce.com, where one effective solution can be used by hundreds or thousands of companies/individuals. When done properly the organization can easily integrate the consumer into the further development of an effective solution by opening up a channel for those people to communicate new ideas and contribute to new product versions ultimately, reducing the development of redundant or non-saleable features and reducing costs.

Philip Kotler had the other interesting quote from the book stating that "Capitalism will leave the seeds of its own destruction if it does not find new markets. The rich can only consume so much output." This rings far too true in what is clearly an economy of excess in many parts of the world. The availability of products and services that are considered luxury has skyrocketed and while the rich get richer, the focus of the middle class has been shifted by marketers to keep up with the Jones'... even if they are the Rockefeller's! Which brings me to my next point, when have people with limited skill sets, no talent and no level of individual accomplishment ever been held in such high esteem. When has a level of incompetence been regarded as grounds for success (see American Idol). History tells us that excess leads to cultural demise, at least if the Romans were any indication. Who knows maybe we will pull out of it. I am certainly a part of the problem/solution, but I guess we all are.

All I can say is that the next 20 years will most likely move faster then the previous 100, good, bad or otherwise. If you want a hint about what it might look like its a good place to start.

MS