Sunday, May 29, 2005

The Naked Corporation, by Tapscott and Ticoll

The Naked Corporation, by Tapscott and Ticoll

Good book, but a tough read. Big idea: honesty and openness in the business world builds consumer trust and builds long-term revenue streams. As with most management books these days, it is filled with examples. Most discuss the converse, where opacity causes huge problems; for instance, Union Carbide and the Bhopal disaster or Kellogg’s attempt to conceal genetically modified food. There are stories of how companies have changed over time, too; consider that Nike went from a sweatshop company to a leader for off-shore labor practices. While the book makes a compelling point, I found it difficult to read—to call it dry is an insult to toast. I’m certainly not sorry I spent the time, but I wish I’d found the website first. I do plan on bugging my investment advisor about how my proxies are voted, though!

First Sentence:
The 2002 trust crisis was arguably the worst on Wall Street since the 1929 market crash and the Depression if the 1930s.

1 comment:

Cote' said...

I hear about this being dry. I think I read through about 2/3 of it before I finally gave up and moved onto greener pastures.

That's also an interesting observation that most the stories are of companies not being open. You know that I certainly bought the whole "be open" thing before I even read the book, but it's hard to really think that being open would really make a difference to all (even "the majority") of companies.

If the employees/customers wanted things to be open, sure, it'd be required. But I don't think that's the case too often: no one cares where Bed, Bath, and Beyond gets it's cheap spoons from or how they treat their employees. (Sure, if there's some scandal, that'll be a problem: scandals always cause problems, naked or clothed.)

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