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Peter Cohan about Value Leadership
Peter Cohan was in Lisbon and Coimbra, Portugal, to present his Value Quotient methodology, based on his recent book "Value Leadership". Peter was invited by SINFIC, an Information Technology company and INDEG a Lisbon Business Scholl, with the support of Adventus Group, a metanational group where Peter Cohan & Associates is affiliated as independent partner.
Tema Relacionado: Learning Tours |
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OUR CHOICE FOR 2002
The best Company: Southwest Airlines. The case study by Peter Cohan and interview with the spokeswoman of the Dallas carrier. A research by Jorge Nascimento Rodrigues.
Tema Relacionado: Management Trends |
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Report on the US Economy
First Quarterly Report in the Election Year, about trends and Q&A by Peter Cohan & Associates and Gurusonline.tv/Adventus Group.
«There is a danger that the growth is more the result of borrowing money and cutting taxes than from business investment in job creating innovation.»
Tema Relacionado: Quarterly Reports |
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Advantage IBM
Last November at a BusinessWeek CEO conference in Hong Kong, I debated "Is IT a Strategic Asset or Commodity?" with a distinguished panel of executives. My conclusion was that IT, in and of itself, is neither a strategic asset nor a commodity. It depends on how you use IT. If a company uses IT to change the way it works so its customers are better off, then IT is a strategic asset.
Tema Relacionado: Reality Check |
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A Profitable Education
Many Swarthmoreans choose careers in business. But is the College preparing them for its challenges?
Tema Relacionado: Reality Check |
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WPO speech topics
Last week a board member of World President’s Organization (WPO), a global organization of 3,850 individuals who are or have been CEOs of major business enterprises, asked me for three timely speech topics for its members.
Tema Relacionado: Reality Check |
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The China Syndrome
The growth in demand for many of these commodities has come from the same country that is financing our deficits – China. It is disconcerting to realize the power that China has over the US economy. If China decided, for example, to use the Euro as its reserve currency instead of the Dollar, China could force the US government to make a difficult choice – raise interest rates substantially to make US debt attractive to foreign investors such as China or sharply reduce the US budget and trade deficits in order to lessen US dependence on borrowing from these countries.
Tema Relacionado: Reality Check |
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Five Trends for 2005
Over the last 30 years, the biggest trend in information technology has been to put ever more computing power in the hands of individuals. In the 1970s, the emergence of minicomputers let corporate divisions process their own information instead of relying on a centralized corporate data processing function. In the 1980s, PCs put computing power on the desks of workers and consumers. And in the 1990s, the Internet linked these information archipelagos with information in far richer formats.
Tema Relacionado: Reality Check |
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Is the Semantic Web the Next Big Thing?
Given the lag between when gadget lovers work on prototypes and such killer apps go public, it could be years before we know whether the SW is the Next Big Thing.
Tema Relacionado: Reality Check |
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Five years after
This coming Thursday marks the five year anniversary of NASDAQ’s peak of 5,048. Today, it stands 60% below that summit. My recent interviews of CFOs, venture capitalists, academics, and consultants reveal a sobering reality for those yearning for a new technology wave to re-float the NASDAQ: forget it.
Tema Relacionado: Reality Check |
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Three rings of market information
People make money in the market by trading on secrets (sometimes dubbed information asymmetries). The law has placed boundaries around the kinds of secrets that are tradeable. It is illegal for a corporate insider to trade on the insider's knowledge of a corporate event.
Tema Relacionado: Reality Check |
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Inflation matters: the Greenspan lag
With today’s 25 basis point interest rate increase, the Fed included some language about inflation, noting “pressures on inflation have picked up in recent months and pricing power is more evident.” It’s about time!
Tema Relacionado: Reality Check |
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As go geese, so goes the economy
If you’ve ever noticed a flock of geese flying in V-formation, you can understand the microeconomic concept of complementary goods.
Tema Relacionado: Reality Check |
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Genentech's 1800% solution
With stunning speed, Genentech is gobbling up big pharma’s lunch.
Tema Relacionado: Reality Check |
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ROE and the stock market
In 2002 there was little correlation between an industry – or company’s -- financial performance and its stock market returns. This is the unsettling conclusion of a Peter S. Cohan & Associates survey of 900 publicly-traded US companies in 53 industries.
Tema Relacionado: Reality Check |
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Hitting the wrong target
President Bush’s latest tax cut proposal -- $670 billion over 10 years -- appears to have hit the 2004 re-election target. For those hoping his proposal would stimulate capital investment and job creation, Bush’s arrow misses the target altogether.
Tema Relacionado: Reality Check |
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Holding the hot potato
In January 2000 the stock market peaked at a market capitalization of roughly $18 trillion. Since then $7 trillion has gone poof. Due to a clever game of ‘government hot potato’, the full pain of this lost value has yet to be fully absorbed by our citizens. Unfortunately, there’s no-one left to catch the hot potato and we are about to get our hands badly burned.
Tema Relacionado: Reality Check |
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Lessons from AOL Time Warner mega-merger
A new trend is born: de-mergers on the horizon. An interview with Peter Cohan.
Tema Relacionado: Reality Check |
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How will the Iraq war affect the market for information technology?
Peter Cohan advices managers and entrepreneurs to plan for an uncertain future.
Tema Relacionado: Reality Check |
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Lost Decade
This week I was twice asked for my thoughts on the future of the economy and the stock market. My answer was that we are in the early years of a lost decade for both.
Tema Relacionado: Reality Check |
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Jack Welch and the Cost of Corporate Legends
Jack Welch, The Good, The Bad and the Hugly - The Cost of Corporate Legends, by Peter Cohan.
Tema Relacionado: Reality Check |
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The Few, The Proud, The Dot-Coms
Profiting from the misfortune of their weaker peers, a handful of dot-com’s – such as eBay in online auctions and Yahoo! in Web portals -- now dominate their market categories -- growing far faster than the economy.
Tema Relacionado: Reality Check |
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Market commentary
In May the economy remained sluggish, however, the stock markets demonstrated a new energy (the S&P 500 increased 5% in the month).
Tema Relacionado: Reality Check |
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Value from Values
Introducing the Concept of Value Leadership.
Tema Relacionado: Reality Check |
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1929 and 2003: Is history rhyming?
As Mark Twain once said, history never repeats itself but sometimes it rhymes. This aphorism comes to mind in comparing the 1929 economy to the current one.
Tema Relacionado: Reality Check |
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Is IT's future in the offering?
Investor’s appetite for technology appears unabated despite a three year bust of historic proportions. The reason for this appetite is simple: investors believe that technology’s next big thing will unleash fast growth and instant wealth. Therefore, technology investors would love nothing more than a clear view into IT’s future.
Tema Relacionado: Reality Check |
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The Clinton Presidency
Despite significant shortfalls, Bill Clinton was a great president. Clinton has a genius for gaining and keeping power and the performance of the economy during his tenure was outstanding. Despite these positives, his handling of foreign policy was weak and he let his personal life become a political target -- distracting him from important political goals.
Tema Relacionado: Reality Check |
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Merger Monday: Madness or More Moulah?
Today’s $66 billion worth of announced mergers is an aberration in a market that has been rather quiet since early 2000. And today’s announcements raise perennial questions about whether acquisitions pay off for shareholders and if so, how to tell the difference between the value creators and the value destroyers.
Tema Relacionado: Reality Check |
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Clinton in China
Bill Clinton hasn’t lost his touch and he’s driving for a White House return.
Tema Relacionado: Reality Check |
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Buzzword burnout
"I had to fly half way around the world to find it, but I now know what the new new thing is: buzzword burnout. One of the most striking trends that jumped out at me during my recent trip to Hong Kong is that people around the business world – and possibly the world in general – are completely fed up with buzzwords."
Tema Relacionado: Reality Check |
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Top 12 Technology Trends for 2004
Since March 2000, a change in the way technology is financed has changed the way it’s bought and sold. Money for technology is not free anymore. With cash scarce, companies are looking to squeeze more performance out of lower IT budgets.
Tema Relacionado: Reality Check |
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Competitive advantages of Value Quotient (VQ)
How VQ approach is different from the Kaplan/Norton methodology.
Tema Relacionado: Reality Check |
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2002 will be a year of continued shackeout. I see a downward spiral of stagnant growth, layoffs, bankruptcies and consolidation
There is a chance that we will see a recovery in 2004 if a new technology comes along that gives CEOs a reason to make capital investments.
Tema Relacionado: Reality Check |
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New Growth Theory and Paul Romer criticized by Peter Cohan
The biggest reason for the dot-com debacle is the widespread misapplication of a deeply flawed idea – New Growth Theory (NGT). NGT argues that people possess an almost infinite ability to combine physical resources into value-creating ideas and that these recipes are a key source of economic growth. NGT went wrong when companies bet trillions of dollars to build the very expensive first copies of these recipes on NGT’s failed premise that companies would reap tens of trillions in profits as demand soared while the cost of incremental copies converged on zero.
Tema Relacionado: Reality Check |
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Do mergers make sense?
While the average big merger does not do much for shareholders, there are big performance differences across industries.
Tema Relacionado: Reality Check |
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E-Commerce: Beyond the Hype, Real Hope
E-commerce and dot-coms are inextricably linked together. Yet, their business results are quite different. For the dot-coms, much has been lost: Six trillion dollars worth of stock market wealth has evaporated. Hundreds of companies have shut down, leaving millions of employees jobless.
Tema Relacionado: Reality Check |
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Harvard's Enron Connections
Today (June 2002) Enron announced the resignation of Herbert S. Winokur Jr., chairman and chief executive of Capricorn Holdings Inc. of Greenwich, Connecticut, from Enron’s board on which he served since 1985. Winokur’s resignation draws attention to the many ties between Harvard and Enron.
Tema Relacionado: Reality Check |
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Who's next? Guess
Since the late 1970s, periods of economic contraction have been followed by shakeouts in debt-laden industries. In the last 1970s, oil & gas and southwestern real estate bit the dust. In the early 1980s, savings & loans collapsed, in the late 1980s junk bonds cratered, and in the early 1990s commercial real estate tanked.
Tema Relacionado: Reality Check |
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AOL - the next?
In its most recent quarter, AOL wrote off $54 billion in goodwill and posted a net loss of $3.5 b. Since its peak in January 2000, AOL investors have lost $344 b, or 85%, worth of stock market value.
Tema Relacionado: Reality Check |
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BOIL THE FROG
An old consulting saw goes that if you throw a frog into a pot of boiling water, it will jump out immediately. On the other hand, if you put a frog in cool water and turn the temperature up gradually to the boiling point, the frog will stay in the pot.
Tema Relacionado: Reality Check |
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What do do Monday
The October 1987 market crash, when the Dow fell 508 points (22% of its value), occurred on a Monday -- which followed a 108 point drop the previous Friday. If July 22nd turns out to be 2002’s Black Monday, we could expect about an 1,800 point drop tomorrow. (Actually I would be glad if the October 1987 crash was the model for 2002 since in 1987 the market ended the year higher than it began).
Tema Relacionado: Reality Check |
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US Airways bankruptcy q&a
What happened at US Airways? Was it just September 11th or were things already starting to unravel before the terrorist attacks?
Tema Relacionado: Reality Check |
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Wireless content: path to prosperity or the poorhouse?
Prospects for profiting from digital content look grim. In the past, content purveyors could pursue two generic strategies; sell subscriptions and/or sell advertising.
Tema Relacionado: Reality Check |
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Market drop chokes life insurers
The full repercussions of the market crash remain to be fully felt.
Tema Relacionado: Reality Check |
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Goodwill bodes ill
During the pre-2000 boom, some companies used inflated stock to pay for mergers. While this ‘currency’ appeared valuable at the time, things did not always turn out so well with the mergers. Soon some acquirers will pay the piper.
Tema Relacionado: Reality Check |
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Why is tech spending in the doldrums?
One possible reason is excess capacity. Customers use only 11% of full fiber optic capacity. PC shipments will grow 1% in the U.S. this year and at most 4% worldwide. Workers use only 25% of the 29 gigabytes of capacity on the typical hard drive. Many firms bought 20% to 100% more software (sold in paid seats) than they need and companies often have 3,000 more paid seats than they use. Finally, corporate networks use 10% of the capability of the routers they bought in 2001.
Tema Relacionado: Reality Check |
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Tech present and future
Although tech spending is likely to stay subdued in 2003, specific technologies are likely to buck the slow-growth trend. Near term tech spending suffers from the unabated crunch in capital spending driven by CEO malaise.
Tema Relacionado: Reality Check |
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The mind of the capital spender
Unless his administration implements policies that spur capital spending, the statistical impact of Bush’s decision Friday to add two people - Paul O’Neill and Larry Lindsey - to our nation’s 6% unemployment rate is likely to be as small as its economic impact.
Tema Relacionado: Reality Check |
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Japan in Decembre 2002
A four-day business trip to Japan this week provided a unique perspective on the world’s second largest economy. An early snow fall was melting away and in no way deterred the bustle of holiday shoppers.
Tema Relacionado: Reality Check |
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