I have my doubts about how accurate the data is and how it was collected. Also, the fact that the book was written by 3 marketeers biased towards theI have my doubts about how accurate the data is and how it was collected. Also, the fact that the book was written by 3 marketeers biased towards the wealthy makes me more and more skeptic about the whole rhetoric.
Some of the tables and graphs are not well documented/credited so I don’t really know how accurate the info is. In some graphs the numbers just don’t add up I did’t really know how to interpret the data.
However inaccurate the data, the book presents some very interesting insights. If I looked over the marketing stunts of the authors, I find it very useful to study the wealthy and their lives and how they accumulated their wealth.
At the beginning of the book, there were many references to other books about various topics like economics, history, and marketing who I find to be great selection of books actually.
The part about the wealthy spending habits is very informative. Despite the fact that the distinction between passion shopping and logic shopping is obvious, some of the insights in the book were unusual and and unpredicted. It’s clear that conventional wisdom on shopping habits doesn’t always apply to the wealthy.
I think the best part was the psychological analysis of the apprentices (the new wealthy) and how they may lose family and friendships and seek the “stealth-wealth” mode out of fear of bankruptcy.
Overall, the segmentation of wealthy dine by the authors gives a very deep insight into the minds of the wealthy and why they behave differently.
I think this is one of the best books about managing people. The book is based on research done by Gallup foundation, so all of the info in the book iI think this is one of the best books about managing people. The book is based on research done by Gallup foundation, so all of the info in the book is based on real data analysis. The book captures real examples, cases and stories from successful managers at big corporations like Disney, GE, Ritz-Carlton, Southwest Airlines, and even sports teams like Chicago Bulls.
Authors structured the book in a very attention grabbing way. All ideas and examples are followed by real quotes from managers and employees, even sometimes the scripts of internal email messages from managers to employees.
The main morale of the book is that generalisations and stereotypes don’t work with effective management, which is a data supported claim as all the info and the advice in the book is based on interviews with over 80,000 successful managers. One of the main ideas of the book which is heavily emphasised upon in the first chapters is that conventional wisdom is not always the most effective path to follow. Successful managers don’t follow the book on how to treat their employees or how they select them on the first place. The book is full of myth debunking about management and revealing how conventional wisdom or “logical assumptions” don’t work in real life. Cliched concepts and phrases like “Treat all employees equally”, “management fairness”, and “There’s no I in a TEAM” are proven to be unrealistic and don’t fit in in the modern life workplace.
I personally liked how the authors made the distinction clear between talents and non-talents criticizing the “self-development” bullshit discourse of people can “improve” their talents.
The book also discusses very interesting management styles and concepts like the concept of broadbanded pay plans, which is a very creative and unconventional way of employees compensation.
Overall the book is informative and scientific yet light and very interesting....more