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AMPLIFY MICHAEL CHERENSON

Things I Amplify from the web

The Economics of Blogging According to Economists.

- Blogging drives transactions.
- Blogging improves reputation.
- Blogging drives thought leadership.

Here's why:

Amplifyd from www.voxeu.org

Economists make it their business to know about incentives. Indeed they devote entire blogs to the subject. But what are the incentives for top economists to ‘waste’ time on these blogs in the first place? This column calls on researchers out there to find out.

The results are quite interesting. The link from a blog increases significantly the paper’s downloads and abstract views in the month of the blog publication and, to a lesser extent, in the following month. Figure 1 shows that some blogs have a very large visibility ‘multiplier’ effect. A quote from Paul Krugman’s blog, or Marginal Revolution, or Freakonomics leads to an increase in the number of abstract views by between 300 and 470 units (compared to a monthly average of 10.3 views for NBER papers). Moreover the number of downloads increases by between 33-100 units (compared to the monthly average of 4.2 for the average NBER paper).

For the second hypothesis, the authors use the results of a survey about the most admired economists in the US, and intersect the results with the rankings (RePEc) of the top 500 economists in the world, based on scientific publications. The authors test if the probability of appearing in the list of the most admired economists, controlling for scientific ranking, is influenced by being a blogger or not. It is. Bloggers are about 40% more likely to appear in the list of most admired economists – an effect equivalent to that of being among the 50 top world economists based on publications records.

Finally, to assess the impact of blogs, the authors conduct a random selection experiment on 619 students of Masters and PhDs in Economic Development, young economists of the World Bank, and young employees at NGOs, some of which were prompted to check out a new blog to follow the World Bank. The results show that those who are exposed to the blogs give a better assessment of the quality of research at the World Bank, and of the desirability to get a job there.

Read more at www.voxeu.org
 

GOOD LEADERS KNOW THE VALUE OF COMMUNICATION

Too often public relations professionals find themselves explaining the role and value of public relations and communication. Here's a leader who gets it.

Amplifyd from www.inc.com

Gen. Stanley McChrystal on How to Lead Like a General

Gen. Stanley McChrystal is best known as the retired four-star U.S. Army general who served as commander of all U.S. and NATO forces in Afghanistan. He's credited with the death of Abu Musab al-Zarqawi, leader of Al-Qaeda in Iraq, and is known for speaking his mind—both when other military leaders were reluctant to challenge decisions, and in off-the-cuff political remarks to the press

1. Let your guard down strategically.
When asked why he was photographed not wearing body armor, McChrystal said he generally didn't suit up into armor when on the streets in Afghanistan. "Why I didn't wear it is I would deal with Afghans daily. They wouldn't think, 'He's smart; he's in a helmet and armor.' They would think, 'He's not as brave as I am.'" It was not only a subtle tactic to bridge a culture gap, it was also a way to send his troops a message. "I was asking people to go out and risk their lives," he said. "You can't say one thing and then keep yourself in a hermetically sealed armored bubble."

2. Communication should be your top priority.
McChrystal is noted for having spent his commander's discretionary fund not on better guns, but on purchasing bandwidth so that all the nodes of his network could communicate with each other. He worked hard to create teams of teams in order to rival the tribal and social structure of the al-Qaeda organization. Maintaining this complicated structure required steady communications between parts of the network in far-flung locations. McChrystal explains his strategy:

What I believe is you need to establish processes, you need to establish correct forums—ways that you decide that you're going to communicate—and then you need to make that work. And part of that is the equivilant of a pump or a heart, and if the heart is not pumping information through the body just like it needs, then you have to do CPR. You have to force it to work. You have to force that information to flow both ways. Part of that is pumping information out, and part of it is creating an environment that pulls information in. You'll find that things like a cubicle wall or a walk across the street can be as wide as an ocean was 100 years ago.

Sometimes it's far more distance than a walk across the street that you're dealing with. "You can't get out there and touch people on the shoulder that much anymore—you have to use digital means," McChrystal says. That said, McChrystal, even at the height of conflict, says he made time to hand-write letters of praise or thanks. "I used to get thank-you notes for my thank-you notes," he says. "I'd find them framed in [the troops' bunk] areas."

3. Watch your communication etiquette.
Just communicating isn't enough; tone is extremely important to the message. McChrystal illustrates this by saying you should never respond to an e-mail with a two-letter reply. "What happens is someone writes a very good e-mail. They'll frame a problem and then they'll give background to it, and then they'll make a recommendation," McChrystal says. "They'll send it to their supervisor...and they get back, typically from a BlackBerry or smartphone, 'OK.'" What does that even mean? "I think it can mean that someone is so important that they can only send two letters. I think it means, for me, that I'll never write that person another e-mail. Because I don't know what that e-mail means." While a short e-mail can work between members of a married couple, or very close associates, dynamics at work involving hierarchy are too complex to disregard. "It can give the feel of fending someone off, that stops communications forever. I would never do it," McChrystal says.

4. Use Commander's Intent—especially in times of crisis.
The idea of clearly expressing your vision of an end result is know as Commander's Intent. And in a time of strain or uncertainty, McChrystal says it's crucial. "This sounds simple, but if you really go into most organizations and ask what winning is going to look like, [managers each] have different ideas," McChrystal says. "Once you define winning, you have to define strategy, and it will all roll in the same direction," he says.

5. Own your failings.
Following unflattering remarks about Vice President Joe Biden attributed to McChrystal and his aides in a Rolling Stone article, McChrystal offered his resignation to President Barack Obama. McChrystal's reaction today? "I'm absolutely comfortable with it; I have been since that day." When asked about issues in maintatining strong leadership in the face of bad press, McChrystal explained he believes the best thing a leader can do is communicate thoroughly with his or her team, and to the public. "When you do explain, you've got to tell them the truth," he says. "If you do an Enron and you say, 'All's well, I think you should buy stock,' and then you turn around and you're selling stock, then you've got a credibilty gap that communication isn't going to help."

6. Stay fit.
You're probably not hiking the mountains of Afghanistan from nine to five, but McChrystal believes that physical fitness should still be a priority for any leader. "It is a sign of, in my opinion, personal self-discipline. If you are willing to do the things that keep you healthy—and they don't have to be athletic, but to keep you healthy—I think that means that you've shown a level of self-discipline that I think translates sometimes into business," he says. And for him, it's not just physical. "I think it keeps me more alert. I know I'm a fairly intense person by nature. I know that if I work out in the morning, I'm a little easier to work with, a little easier for people deal with than I might be otherwise. So people in fact encourage me to go and work out in the mornings for that reason."

Read more at www.inc.com
 

LEADERS AND THEIR BEHAVIOR DRIVE REPUTATION

Public relations goes beyond publicity and media relations and should be focused on building mutually beneficial relationships that require trust, ethics and reputation.

And reputation goes beyond communication, it's about behavior, long-term thinking, exceeding expectations, authenticity and credibility -- or DWYSYWD (do what you say you will do).

Amplifyd from blogs.hbr.org

CEOs Must Model the Behavior for Creating Societal Value

When P&G CEO A.G. Lafley insisted that in-home visits with consumers be arranged for him in whatever city he visited in the P&G worldwide network, executives throughout P&G realized that if the CEO wasn't too busy to do in-home consumer visits, neither were they. When he worked with the board to get his stock-based compensation to vest in one-tenth increments in each of the 10 years following his retirement from P&G, his organization got the unmistakable impression that P&G was focused on the very long term and that obsessing about one's own short-term compensation wasn't very CEO-like. When he spoke only rarely about shareholder value and only then as utterly derivative of P&G's performance on winning the consumer value equation and building powerful brands, P&G employees came to appreciate that while he cared about shareholder value, he saw it is an output of the things he aspired for P&G not a singular and direct goal.

With a few critical personal and corporate signals twinned with an adjustment of the performance-measurement systems, any CEO can focus the firm on building long-term customer and societal value that pays off for the shareholders who want to be shareholders for the long term. Shareholders who have no interest in the long term should be treated as they deserve to be treated: like the societal parasites they are.

Read more at blogs.hbr.org
 

PR Glass Half Empty of Full?

Hey, we did better than lawyers, bankers and teachers.

Frankly, I'm not surprised by these numbers. Most respondents will never interact professional with public relations or advertising pros and their perceptions are formed almost exclusively by the media (and their positives where only slightly higher than ours.)

So what do you think? Are these numbers valid?

Amplifyd from www.prdaily.com

Gallup poll: More people have a negative view of PR and advertising

According to Gallup, 32 percent of Americans have a positive view of the two industries—Gallup combined them for the poll—while 29 percent took a neutral stance, and 37 percent had a negative view
Here’s the full breakdown:

Read more at www.prdaily.com
 

Who Will Succeed in the Future.

An interesting piece on surviving in the competitive marketplace.

Amplifyd from blog.commpro.biz

Who will succeed in the future? The nimble. The alert. Those who are prepared to act upon what they observe. Learning is a most difficult task but the natural order of things dictates that where there is failure, there is an opportunity for knowledge and wisdom. As new companies arise from those that came before, they will emerge as market-leaders based on the lessons they’ve learned, in many cases, from former kings and how they inevitably lost their crowns.

Read more at blog.commpro.biz
 

Media Lessons From Irene.

1) So far Hurricane Irene ranks as the 10th-deadliest storm since 1980 and to date, it ranks as the 8th most destructive storm economically. I'm sure both those numbers will rise. Meanwhile, it received about the 10th-most media coverage. The Royal wedding was hype. This was news.

2) I found myself using social media -- primarily Facebook -- to gather and share hyper-local news. Social media is not a fad, it's a force.

3) Professional journalists are learning how to work with citizen journalists to gather and share content. Mainstream media is not dead, but it's been redefined as a marriage between professional and citizen journalism.

4) Google Plus still has a way to go. A few smart reporters created situation circles -- a community of individuals draw together by a specific situation -- to help gather and share news and information. But for me, it was a lot easier to share information on Facebook than Google +. Google needs to make it a lot easier to share and search with Google Plus.

Add your lessons here:

Do hurricanes receive too much media coverage? Are they more or less newsworthy than airplane crashes? The avian flu? The iPhone 5? Shark attacks? The Dominique Strauss-Kahn case? The Libyan civil war? The royal wedding? Global warming? Anthony Weiner? The Dallas Cowboys?

What’s the problem with that? Actually, I don’t see any problem with it whatsoever. The level of coverage given to Irene received seems quite appropriate given what we know about its impact.

It wasn’t the worst-case scenario – either for Irene in particular or for hurricanes hitting New York in general. But I don’t see how you dismiss it as hype. If, as Mr. Kurtz says, “the prophets of doom were wrong,” I’m not looking forward to seeing what happens when they’re right.

Read more at fivethirtyeight.blogs.nytimes.com
 

RTDNA: Radio News Changed Little In 2009

Amplifyd from www.radioink.com

RTDNA: Radio News Changed Little In 2009

radio news saw little change last year, with about the same amount of news on the air and the typical radio news staff remaining at one person

On the TV side, the amount of news on the average station rose to another record high, five hours per weekday, up from last year's record high of 4.7 hours.

over 60 percent of TV news directors say they expect staffing levels to stay the same. That's up nearly 20 points from a year ago." The number expecting to lose staff dropped 77 percent, and the number expecting staff to increase rose 145 percentRead more at www.radioink.com
 

GREAT READ - As journalism changes, so must you.

Unvarnished and Dangerous

Dangerous to say the least...

Amplifyd from www.huffingtonpost.com
Unvarnished and Dangerous
A new and highly controversial social media site, getunvarnished.com, just arrived. On this site, anyone can anonymously post reviews of anyone else with no accountability and no restraints. People can now review and rate their bosses, colleagues, CEOs, clients and companies knowing that the comments are forever searchable.

The controversial appearance of a site like Unvarnished.com is a wake up call to companies of what's to come. Responding at high speed and using force multipliers are just a few of the tools available. The new social media terrain is no less than a new battlefield where reputations snipers, using in effect the techniques of guerrilla militia, fight to undermine a company's good name. There is no time to waste.

Read more at www.huffingtonpost.com
 

News Sites Rethink Anonymous Online Comments

Amplifyd from www.nytimes.com

News Sites Rethink Anonymous Online Comments

journalists, more than ever, are questioning whether anonymity should be a given on news sites. Read more at www.nytimes.com

The Washington Post plans to revise its comments policy over the next several months, and one of the ideas under consideration is to give greater prominence to commenters using real names.

The New York Times, The Post and many other papers have moved in stages toward requiring that people register before posting comments, providing some information about themselves that is not shown onscreen.

The Huffington Post soon will announce changes, including ranking commenters based in part on how well other readers know and trust their writing.

The Plain Dealer of Cleveland recently discovered that anonymous comments on its site, disparaging a local lawyer, were made using the e-mail address of a judge who was presiding over some of that lawyer’s cases.

Read more at www.nytimes.com