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Week of December 8 - 14, 2008

Book Recommendations for the Holidays: Although a tough economic climate may force some of us to cut back on our Christmas shopping, you can never have too many books! Here are our suggestions for the entrepreneurial bibliophile on your holiday lists. All books have been published in the past year and should be found at your regular bookstore or on-line retailer.

The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World

Amar Bhide (Princeton University Press, 2008)

Columbia University professor Bhide is well known for his in-depth analysis of Inc. 500 firms found in The Origin and Evolution of New Businesses. His latest book shows why these companies and other related businesses and consumers help create tremendous competitive advantages for the American economy. Thanks to venturesome consumption -- the willingness of business and consumers to use products and technologies based on scientific research -- the US can remain an innovation leader. For Bhide, the US will continue to prosper from globalization as long as it remains open to new ideas and technologies, and continues to nurture the innovation economy. It is user-led innovation, not basic R&D, that drives American economic success.

Billion Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years

Paul Carroll and Chunka Mui (Portfolio Hardcover, 2008)

It is often said that entrepreneurs learn great lessons from business failures. If that is true, this book provides a lot of great teaching moments. It profiles some of the most bone-headed business moves in recent history, such as the failed merger of Sears and Dean Witter or Kodak’s failure to embrace digital photography. The authors use these episodes to offer insights on how business leaders can avoid such failures, and, if the unthinkable does happen, learn important lessons from failure.

Closing the Innovation Gap: Reigniting the Spark of Creativity in the Global Economy

Judy Estrin (McGraw-Hill, 2008)

Former Cisco executive Estrin presents a compelling and informative case for major new investments to support US science and innovation. Regular E-News readers will be familiar with Estrin’s basic arguments, which are a regular staple of current technology policy debates in Washington. She notes that the US has ignored critical science and technology investments for many years, thus eroding the nation’s technological edge. In response, she recommends a basket of solutions that include major new investments in R&D programs, reforms of our education system, open immigration rules, and a broad commitment to nurturing our innovation ecosystem.

The Race Between Education and Technology

Claudia Goldin and Lawrence Katz (Belknap Press, 2008)

Harvard professors Goldin and Katz take on a big topic in this book, seeking to explain the rise in economic inequality that has plagued the US over the past several decades. Their analysis focuses on the historical relationships between education and wages. America’s boom, which gained pace in the early 20th century, occurred thanks in part to the introduction of mass education. In fact, they refer to the 20th century as “The Human Capital Century.” However, by the 1980s, the supply of educated Americans slowed down, as Americans began to obtain less education than in the past. As a result, wages have stagnated in the face of this educational slowdown. Solving these economic challenges will require major reforms to current education policies and programs.

Reality Check: The Irreverent Guide to Outsmarting, Outmanaging and Outmarketing Your Competition

Guy Kawasaki (Porfolio Hardcover, 2008)

Former Apple executive Guy Kawasaki has made a good living as a public speaker and general guru on “all things entrepreneurial.” He is popular because he presents his ideas in a fun and accessible style. His new book continues the trend with some useful and often laugh out loud advice. Topics include such items as “the top ten lies of entrepreneurs,” “the art of schmoozing,” and “how to do good.”

A Sense of Urgency

John P. Potter (Harvard Business School Press, 2008)

Business consultant Kotter offers a guide to help organizations avoid a sense of complacency, and, in today’s economic environment, this advice is much needed. The work builds on Kotter’s previous book, Leading Change, and is full of useful tips for both initiating and continuing major corporate transformations.

Innovation in Global Industries: U.S. Firms Competing in a New World

Jeffrey Macher and David Mowery (eds.) (National Academies Press, 2008)

This National Academy of Sciences-sponsored volume examines the competitive position of ten leading US industry sectors, including fields such as personal computing, software, biotechnology, and financial services. These ten case studies seek to map out how each industry’s structure and prospects have changed since a related analysis was completed in 1990. Among the big changes across all industries are the emergence of new innovation and production hubs in countries like China and India, and the development of vertical specialization in many knowledge intensive sectors. As firms become highly specialized in niche skills, they opt to develop partnerships and alliances for key functions like design, manufacturing, or advanced R&D. This book is an excellent guide to industry trends. It can be purchased or read on-line at the National Academies Press website at www.nap.edu.

Globality: Competing with Everyone from Everywhere for Everything

Hal Sirkin, Jim Hemerling, and Arindam Bhattacharya (Business Plus, 2008)

We are no longer in a globalized world; we’ve reached a new state of globality -- a great business convergence where world-class corporations and organizations exist in all countries, not just in the West. The result will be a much more complicated and messy world where companies must embrace new strategies to prosper in a more intense competitive marketplace. It will no longer be sufficient to “outsource” work to developing economies. Instead, firms must build strong and sustained partnerships that allow them to succeed in diverse local markets.

The World is Curved: Hidden Dangers in the Global Economy

David Smick (Portfolio Hardcover, 2008)

David Smick’s book seeks to correct those who think that, in the words of New York Times columnist Thomas Friedman, “the world is flat.” Smick instead sees a “curved” world, i.e. his metaphor for uneven global development and the strong potential for major world financial crises. His warnings about the prospects for financial meltdown have proved prescient. His analysis helps explain much of the current downturn, but many readers may be hungry for more details on how global leaders can most effectively build the new global financial order that Smick recommends. 

Fool's Gold? The Truth Behind Angel Investing in America

Scott A. Shane (Oxford University Press, 2009)

Just who are all of these angels that you keep hearing about? Scott Shane uses data from the Federal Reserve and other sources, such as the Kauffman Firm Survey from the Kauffman Foundation, to portray the "typical investment made by the typical angel in the typical start-up." While this picture is different from conventional wisdom, Shane highlights the promise and performance of angel groups over individual angel investors. These groups (Shane himself is a member of one such group, the North Coast Angel Fund) are able to pool their expertise and resources for wiser and more productive investments -- making them an attractive option for policymakers looking to promote angel investment.  

The Knack: How Street-Smart Entrepreneurs Learn to Handle Whatever Comes Up

Norm Brodsky and Bo Burlingham (Portfolio Hardcover, 2008)

Norm Brodsky, who co-authors Inc. magazine's Street Smarts column with Bo Burlingham, is the founder of eight successful startups, including a three-time Inc. 500 company. What has helped him the most through the years? Having "the knack." The authors wrap each chapter with four essential "Bottom Line" points that aim to empower entrepreneurs with advice on how to be ready for the challenges and opportunities that tomorrow brings.

ECOpreneuring: Putting Purpose and the Planet before Profits

John Ivanko and Lisa Kivirist (New Society Publishers, 2008)

As green living and sustainability gain more supporters, we’re also beginning to see more books that examine how to meld entrepreneurship and sustainability. ECOpreneuring tells how Ivanko and Kivirist opted for sustainable entrepreneurship through their Wisconsin-based bed and breakfast, Inn Serendipity. This is an inspiring book that tells some good stories about eco-entrepreneurs, but it is not a detailed how-to guide.

Looking for additional recommendations?
Try our Summer Books list from earlier this year.

The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online.

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