GenXmanager: Leadership for the Generation X Manager

Before I answer ‘why’, let me answer ‘what’. What is Twitter?

Think of Twitter as a stream of conversations, random thoughts, and news worthy information. To plug into the conversation you “follow” individuals and organizations. When that specific person or entity submits a message (called a “tweet”), followers will instantly get that message through the Twitter website or a third-party application such as TweetDeck. As a Twitter user, you not only consume information from those you follow, but you in turn will have followers. Therefore, you become a publisher of information as well.

Here’s an example.

You are on Twitter and you start to follow the UB/Towson MBA. A moment after you begin to follow, I post a message regarding an MBA event. The next time you login or refresh Twitter, the message I just published shows up on your Twitter page. If you use TweetDeck and are logged on, you’ll be notified of the new message immediately. Soon, I notice that you are following our MBA program so I begin to follow you. If you post a message, I’ll see it (as will everyone else who is following you).

So why use Twitter?

I thought Twitter would be a colossal waste of time. But recently, I have come to realize that Twitter is a great productivity, business, and marketing tool if used correctly. I’m just starting to use it personally (@rdesi) but I do use it for the UB/Towson MBA program (@ubtowsonmba). Here are some reasons why I use Twitter for our MBA program.

Incredible insights. If you follow the right people and organizations, there is a ton of new knowledge you can pick-up each and every hour.

Engage our current students. I usually tweet news and information regarding the MBA program before I send an email to students. Why? It’s faster. Most of our students work full-time and attend our MBA program part-time so Twitter helps them stay connected.

Engage prospective students. When a prospective student follows us on Twitter, they are tuned into our program. The UB/Towson MBA becomes a part of their life through Twitter. It’s not invasive since they chose to follow us and can stop following us whenever they want. Prospective students can see how we communicate with current students via social media and the level of engagement we have with current students. In addition, they see that our program is engaged in conversation with innovative organizations.

Engage the community. One thing I noticed immediately upon joining Twitter was that many local businesses and organizations (and their employees and executives) were active members of the Twitter community. I started to follow them. In turn, they started following @ubtowsonmba! So every time I tweet, we are on their radar.

Showcase our MBA program. As an MBA program we have a lot of great things to share. We want to promote events and program, student and faculty achievements.

Promote our partners. Twitter is a great way to share good news about partners and what great things they are doing. When I see that an organization we work with is having an event or has great news to pass along I tweet or retweet it.

These are a few of the big reasons why we use Twitter. In future articles I’ll discuss how I fit twittering into my already busy and hectic schedule.

This week, Michael Setzer and Kristy Hammonds, two employees of Dominos Pizza, thought it would be funny to record themselves tampering with food in a most disgusting manner. Instead of keeping the video to themselves they decided to put it on YouTube. This act caused a major public relations headache for Dominos Pizza.

In another example, someone figured out a simple way to pick a Kryptonite bike lock with a hollowed out Bic pen. Soon after the defect was discovered, videos on YouTube appeared showing step-by-step instructions. Of course those who had a Kryptonite lock had to try this nifty trick and of course, film it and put it on YouTube. 

Prior to the internet and specifically before the advent of social media, marketing and public relations professionals could control the message. Twitter, Facebook, YouTube, and a whole host of other social media have put control in the hands of the masses. In the past, a disgruntled customer would tell a few friends of poor service or low product quality. Now, “The power has shifted, [so] that big companies now have to be worried about one individual with a microphone.” [Source: Boston.com]

I direct an MBA program and am not a public relations expert but my advice would be not to fight it (because you’ll lose), but embrace the new media and be a part of the conversation. In response to the food tampering, Domino’s CEO, Patrick Doyle, recorded a YouTube video. Here it is:

Using YouTube was a great idea but Dominos Pizza could do more. Much more. First, social media and Web 2.0 are about honesty, transparency, and authenticity. Reading so obviously from cue cards was not the way to go. An authentic look into the camera, having an honest conversation with those watching the video would have felt more genuine. Kelly Decker, guest blogger at Blog Decker, points this out and asks us to compare the Domino’s response to this response from JetBlue:

In addition, Dominoes should try something fun. Give employees video cameras and have them film themselves doing honorable things for customers.

Perhaps Dominos is doing this, but search Twitter to see what conversations are going on about the food incident and the brand in general. Comcast and GoDaddy are two companies who monitor Twitter for both customer complaints and kudos. They proactively respond. I recently posted a Tweet stating that I was thinking about becoming a Comcast customer and ‘ComcastConnie’ got back to me in less than five minutes…and this was at 9pm on a Friday night!

Not all, but many of your customers are on various social media sites. If you aren’t using social media, now’s the time. Your customers are talking about you, your company, your products, your services. Decide today to be a part of that conversation and not absent from it.

Last night we were treated to a double-dose of The Office. These two episodes, The Dream Team and The Michael Scott Paper Company, gave us a glimpse at true start-up genius (okay, maybe not!). Michael launched his business with no plan. He had a dream, followed his gut, and launched a company. Michael showed us the power of not planning.

I’m not advocating that you start a business without a plan, but some research has shown that there is no difference in terms of success between those entrepreneurs who had a business plan and those who did not.  An Inc. survey found that 60% of the Inc. 500 CEOs did not have a business plan when they launched their business.

So is a plan really necessary? If you need funding for your venture, you likely need a formal plan. In last night’s episode, Michael went to “Nana”, his grandmother, to obtain funding for his start-up. Nana asks, “How do you plan on turning a profit in this economy?” Michael responds, “By wanting it more. By working hard…” His grandmother then interrupts, “What’s your mission statement?” He says, “My mission is stated as follows. I will not be beat. I will never give up. I am on a mission. That is the Michael Scott guarantee.” Nana was not convinced. He didn’t obtain funding. Here’s the clip.

Researchers at the University of Maryland, however, found that business plans don’t really effect venture capitalist funding. They say, “Our results are most supportive of the premise that planning documents play, at best, a minor ceremonial role and do not inform venture capitalists.” But then the article does state that, “A business plan may be useful in helping entrepreneurs organize their thoughts and details.” [Source: WSJ Blogs]

So, should you start your business with reckless abandon or carefully craft an ultra-detailed, “budget-to-the-penny” business plan? A formal business plan may not be necessary but you must be prepared. I listened to Ron Shapiro, author of Dare to Prepare, give a talk at a recent SmartCEO event. The people he presents in his book (and during the presentation) all attributed their accomplishments and success to being prepared.

You cannot start any venture haphazardly but at the same time you may not need, according to the research, a 50-page detailed business plan. A simple plan, however, does help define your goals and how to get there. Here are some resources for helping you plan:

• Simple but effective
• Small Business Planning Guide
• Small Business Administration

With any plan, whether on the back of a napkin or an elaborate masterpiece, you must be able to adapt, change, and be nimble enough to shift the plan at a moment’s notice. Agility is the key. And of course, it is essential to be intuitive and at times and follow what your gut tells you. Having trouble listening to your gut? Here’s how.

Michael Scott started The Michael Scott Paper Company on a whim. A little planning on his end while being flexible and following his gut instincts would have likely put him on a more solid footing. But hey, at least Pam made a sale for his new company.

“Ethical decision making” is a tired phrase. It has been bantered about in MBA programs for decades and yet we find ourselves plagued by corporate scandals. Former CEO of Medtronics, author, and now Harvard professor believes that the whole economic mess we are in today is a result of leaders not acting ethically nor responsibly. He says “Once again, ego-driven operators hungry for glory and power have taken the U.S. to the brink while a few true leaders built sound futures.” He goes on to say that we need leaders who act in the best interest of all stakeholder [Source: US News & World Report].

I think ethics has been missing the critical virtue of prudence. Leaders must think both ethically and prudently about decisions. Even if a decision is legal, ethical, and moral, it still may not be a good decision. The big three automaker CEOs flew their private jets to Washington, DC. Flying their jets was not illegal, unethical, or immoral, but was it prudent given the economic and political climate?

I’ve always been impressed with SAS, the business intelligence software giant. SAS seems to make very prudent decisions that are focused on long-term gain for all stakeholders. They recently reported record revenue despite horrible economic conditions. The CEO of SAS, Jim Goodnight, said, “This growth is a direct result of being a stable privately held company, which allows us to invest in long-term relationships with employees and customers.”  [Source: Triangle Business Journal]

There was debate recently at an MBA conference I attended. The debate asked “can ethics be taught?” Assume that it can’t for a moment. Prudence might be the antidote to the unethical, short-sighted, self-serving leader. Even if he or she is utterly unethical to the bone, the person can still act in the best interest of all shareholders using the ancient virtue of prudence.

You have a hard decision staring you in the face. Think ethically, of course, but also think prudently taking into consideration all stakeholders and how the decision will affect them.

I spent this weekend completely redeploying the UB/Towson MBA Director’s Blog. I did this for a number of reasons.

1. Wordpress flexibility
   This blog is now hosted at Godaddy.com (Bob Parson, CEO, is a University of Baltimore graduate).
2. We wanted a look that was more inspiring, innovative, “Web 2.0″, and too be honest, fun.
   Thanks to Jai Nischal Verma at Blog Oh! Blog for providing this Wordpress template.
3. I felt motivated to do something a bit different…I’m always looking for ways to improve things!

I hope you like the new look. It’s still a work in progress. In the meantime, there is plenty to read.