Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Archive for June, 2011

EP Features Interviews About Management Guru Peter Drucker and Value of MBA

Posted by Hopeton on June 29, 2011

On the July 4th edition of Economic Perspectives, Jim Champy, Chairman Emeritus, Consulting, Dell Perot Systems and author of the ebook What I Learned from Peter Drucker, and Firdos Vohra, a student in the MBA program at The University of Texas at Austin McCombs School of Business will be the guests 5:30 p.m. – 6 p.m. central time on KAZI 88.7 FM.  Listen live online at kazifm.org.

What I Learned from Peter Drucker

Peter Drucker is universally acknowledged as one of the most influential business thinkers of all time.  His theories on how to effectively manage businesses and organizations of all types have profoundly shaped the way we live and work today.  In this brief eBook, his friend and New York Times bestselling author Jim Champy offers unique insights into Drucker’s legacy.

Jim Champy is recognized as the world’s leading authority on the fundamental redesign of business processes, organization, and culture. His bestseller Reengineering the Corporation, co-authored with the late Michael Hammer, sold more than 3 million copies, and his subsequent books on leadership, change management, and strategy have reached wide audiences around the world. His most recent title is Inspire!

Firdos Vohra: The Value of the MBA

Many experts are questioning the value of the MBA. Vohra, a student in the MBA program at the McCombs School of Business at The University of Texas at Austin, will discuss what she is learning that makes the cost of an MBA worth the investment.  Vohra begins her second year in the MBA program this fall.

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Collapse of Housing Market, Capturing New Markets, Overcoming Barriers to Career Success Focus of June 27 Economic Perspectives

Posted by Hopeton on June 25, 2011

 7 a.m. (Special edition of EP)

Gretchen Morgenson and Joshua Rossner, authors of Reckless Endangerment: How Outsized Greed, Ambition, and Corruption Led to Economic Armageddon – Morgenson, a Pulitzer prize winning New York Times business reporter and Rossner, a housing expert, trace the collapse of the housing market to the aggressive underwriting and greed of Fannie Mae executives.

 

 

 

5:30 p.m. – 6 p.m.

Stephen Wunker, author of Capturing New Markets: How Smart Companies Create Opportunities Others Don’t –  Wunker, a former strategy consultant and veteran of numerous start-ups including the first mobile internet device marketed outside of Japan, shares the key strategies for assessing new markets, shaping their formation, and profiting from their expansion.


 

Thomas DeLong, author of Flying Without a Net: Turn Fear of Change into Fuel for Success – DeLong, a professor of management practice at the Harvard Business School, illuminates the behaviors and strategies for overcoming them that high achieving professionals engage in that can stall or wreck their careers

Listen live online at kazifm.org.  If you would like to be automatically notified by email when new posts are added to the Economic Perspectives Blog go to econpers.com and click on subscribe at the very top of the web page.

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Listen to Podcast of Interview with Founders of Copinionation

Posted by Hopeton on June 22, 2011

Kimberly Bradford-Brown and William Bradford Jr., co-founders of the new social media web site, Copinionation, were guests on the June 20 edition of Economic Perspectives.  Copinionation allows its visitors to create and participate in interactive polls and surveys. To listen to the interview click here: Copinionation Interview.

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New Social Media Site, Car Guy Vs. Bean Counters, Focus of Economic Perspectives

Posted by Hopeton on June 20, 2011

Kimberly Bradford-Brown and William Bradford, Jr., co-founders of a new social media web site, Copinionation, are guests on the first segment of Economic Perspectives today at 5:30 p.m..  Bob Lutz, former vice chairman of General Motors and author of Car Guys vs. Bean Counters: The Battle for the Soul of American Business, is the guest on the second segment of Economic Perspectives.  Listen live online to EP 5:30 p.m. – 6 p.m. on KAZI 88.7 FM in Austin, Texas or online at kazifm.org.

Kimberly Bradford-Brown & William Bradford, Jr.,  Founders of Copinionation

Kimberly Bradford-Brown

William Bradford, Jr.

Copinionation, short for Cooperative Opinion Nation, was started in 2011 by Kimberly Bradford-Brown and William C. Bradford, Jr.  Since its inception, Copinionation has soft launched its website at www.copinionation.com, and is in the final stages of development for its iPhone App.

Copinionation makes it easy to seek second opinions, poll your friends, or simply ask a question all from your PC or iPhone. Once you create a poll, sit back and relax as the advice pours in.  Copinionation may be used to ask any question about any topic.  Our user base has already created polls on sports, relationships, politics, and entertainment; and we are constantly seeing new topics being explored.  Not only can users create and vote on polls, but they also can comment and defend their choices.  This is a fully interactive community and continues to grow daily.  If you are a business owner, the site provides a platform to ask questions relevant to your product, service, or any other aspect of your company.  The possibilities are endless, so Don’t Fear the Question and ask away.

Bob Lutz, author of Car Guys vs. Bean Counters

Bob Lutz had a legendary 47-year career in the auto industry, ending with nine years as Vice Chairman of General Motors.  He was an old school “car guy” who always pushed for higher quality, innovative cars that people would gladly pay extra for, just as they had in the glory days of the 50s and 60s.

For decades, Lutz warned that the penny-pinching MBAs who started to take over Detroit would drive the Big Three into the ground.  He goes much further in his new book, Car Guys Vs. Bean Counters – a manifesto about nothing less than “the battle for the soul of American business.”  As he writes:

“It’s time to stop the dominance of the number crunchers, living in their perfect, predictable, financially projected world (who fail, time and time again), and give the reins to the product guys (of either gender), those with vision and passion for the customers and their product or service…. It’s true in any business. Shoemakers should be run by shoe guys, and software firms by software guys, and supermarkets by supermarket guys. Passion and drive for excellence will win over the computer-like, analysis-driven philosophy every time.”

In 2001, General Motors hired Bob Lutz out of retirement with a mandate to save the company by making great cars again. He launched a war against penny pinching, office politics, turf wars, and risk avoidance. After declaring bankruptcy during the recession of 2008, GM is back on track thanks to its embrace of Lutz’s philosophy. Lutz explains exactly how GM and other companies lost their way and how they can return to greatness – just as GM is finally getting serious about creativity, design, and quality again.

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Is President Obama Doing a Good Job Managing the Economy?

Posted by Hopeton on June 18, 2011

Make your opinion known at copinionation.com by voting yes or no.  Find the poll on copinionation by searching for Obama.

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Listen to Interview About Using the Crowd for Ideas for Your Business: Crowdsourcing

Posted by Hopeton on June 6, 2011

Renee Hopkin, discussed crowdsourcing on the May 30 edition of Economic Perspectives. Hopking, author of a chapter on crowdsourcing in the new book, Guide to Open Innovation and Crowdsourcing, defined crowdsourcing as the act of outsourcing tasks, traditionally performed by an employee or contractor, to an undefined, large group of people or community (a “crowd”), through an open call.  To listen to the interview click here: Renee Hopkins Interview.

Renee Hopkins is Senior Editor of Texas Enterprise and Media Relations Manager at the University of Texas McCombs School of Business. She has been blogging about innovation and creativity since she started the blog IdeaFlow in 2003. Previously, she was editor of Strategy and Innovation and the InnoBlog at Innosight, a Boston management consulting firm.

Posted in Books, Business, Interview, Radio | Tagged: , , | 1 Comment »

How to “Rent” Ideas As Entrepreneur Focus of Economic Perspectives

Posted by Hopeton on June 3, 2011

In response to a “jobless recovery,” millions of Americans are getting in touch with their inner entrepreneur, choosing to create their own luck. Too often, the path to business success for individuals is scattered with obstacles: the need for funding and the challenges of building supply, manufacturing, and distribution chains, just to name a few. However, thanks to such trends as “open innovation,” in which companies outsource new product development and other key functions, it is easier than ever for innovators to bring their ideas to market.

Few people today understand this better than Stephen Key, who has successfully licensed products in the toy, beverage, and pharmaceutical industries, among others, that have generated billions of dollars in revenue worldwide. In One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work  Key provides a step-by-step guide on how anyone can invert the relationship between corporations and individuals by getting them to work for you. Key is the June 6 guest on Economic Perspectives, 5:30 p.m. central time on KAZI 88.7 FM.  Listen live online at kazifm.org. Key will also be conducting a free webinar on the principles of his book at 8 p.m. eastern time, 7 p.m. central time June 6 also.  To register for his webinar click here.

Central to Key’s blueprint for aspiring inventors and entrepreneurs is for them to use their creativity to produce income by “renting” their ideas to interested businesses. Taking readers through all phases of product innovation and development, Key explains the entrepreneurial system he has used to generate wealth without fronting and raising capital or becoming involved in time-consuming product development tasks.

Key’s mission is to foster the spirit and practice of invention while educating, empowering, and inspiring independent and professional innovators. One Simple Idea’s unique, user-friendly handbook to patenting and licensing advances this goal by explaining to readers how to:

  • Be your own boss without formally opening a business or quitting your day job;
  • Protect your idea without spending time and money on a patent;
  • Develop a strategy that fits perfectly into your business plan;
  • Present your invention to companies and negotiating the best deal;
  • Select appropriate manufacturers and finding optimal markets with expansive opportunities;
  • Witness your product go to market without footing a dime in expenses.

Anyone who has ever daydreamed of an outrageous new product or brainstormed a sure-fire way to improve a service that already exists has the innovation gene. In One Simple Idea, Key delivers the direction, know-how, and motivation to help you present and profit from your idea(s!).

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Book Review of Start Day Trading Now by Michael Sincere

Posted by Hopeton on June 2, 2011

 By Kamilah Powell

Want to be a millionaire now?  Well, day trading may not be the best way to go about it.  The general concept of day trading  is that in the morning, you dump a bit of money in the stock market and BOOM, by day’s close you’ve made thousands.  While this may be the case in some very few circumstances, it is definitely not the norm.  Start Day Trading Now is a quick and easy guide that will guide an individual through the basics of what day trading actually is and how to go about it in a responsible manner in which you learn to mange your risks.

For a beginner or someone who simply doesn’t know anything about trading, this book is a must.  It starts with the opening chapter titled, “What is day trading?”.  It goes through what day trading actually is and not what some websites or traders claim it is.   From there it jumps straight into the in’s and out’s of how to day trade from scratch from the perspesctive of a true beginner.  Sincere goes on to explain how to better manage your risk as a day trader and explains that a real day trader will lose money on a regular basis.  He even adds a cute chapter about a true character Hal (not his real name), who as a beginner makes several very common errors in trading, but realizes his mistakes and in the end becomes a successful trader.  He goes on to list lessons to be learned form “Hal’s” mistakes.  My two favorites and, in my opinion, the most important are lesson number 12, “Learn how to trade without emotion,” and lesson number 15, “Prepare in advance before placing your first trade. Practice trading.”

From how to find the right brokerage firm to reading charts, this book is the right tool for someone who may be thinking about getting into the business.  In his book, Sincere provides a glossary of terms that defines all those special acronyms and terms that are used in the trade.  He also provides a section of resources for novice traders with a list of books and websites to reference.  This book is certainly a great start for a beginner trader, however after reading it, you will absolutely need to do a bit more research on trends and more precise chart reading skills and information.  In his final chapter Sincere himself states that after reading the book, “You may continue learning and researching and take my advice to practice trade before committing real money into the market.  Or you may open up your first trading account.  Either way, one of my goals was to prepare you emotionally for a tough battle.”  I will say, that after reading the book you will know whether or not day trading is right for you.

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