Tags: yahoo
STeM Alert - Yahoo
By avanderbilt on Jan 10, 2010 | In Global Trends
The Self Tending Mushroom Award is given to individuals, companies, entities and even countries who choose the dark over the truth. I was surprised when I stumbled upon this month’s STeMie recipient who displays a subtle but deadly mindset that may spell the end of this internet giant. This month’s STeMie is awarded to Yahoo for perpetuating a decade-old business style that goes from product development to leadership strategy...not an ill-conceived style, but one that has not evolved with the times and is the root of Yahoo being slowly but surely left in the dust of their competitors. Yahoo emerged successful because of their unique product that catered to what people wanted at the time. Leadership was novel as well. Leaders sought to listen, so navigate the information age, and to develop products that helped their customers navigate the information as well. Times change, however, and Yahoo has not changed. Yahoo has, however, with the installation of a new and pedigreed CEO, Carol Bartz, embarked on a new brand campaign. A bright shiny wrapper on what is otherwise the same organization same unimaginative products and last-decade leadership. In a press release for the campaign, Ms. Bartz notes that, “Today the Web and your world are inseparable...Hundreds of millions of people use Yahoo! (R) to get the information they need.” I suspect real authenticity and innovation are hiding within the brilliant minds working at Yahoo, but the old leadership style is so information focused that operating at the pace of the social media age is just not in the cards. In the Economist’s World in 2010, Ms. Bartz puts forth her management philosophy as, “Information will be the greatest opportunity for business leaders in the coming years—and perhaps our biggest headache.” She suggests a solution for handling the situation: “... listening... [and] identify and mentor thought leaders.“ Again, it is not wrong...it is just a decade out of date and in Yahoo’s world, good but old adds up to failure as your world leaves you behind. So join me in awarding this STeMie to Yahoo for staying safely in place with what worked in the 90s while their entire business environment passed them by. Lessons within this STeMie are many. You need not operate at the speed of light, but stay ahead of the pace of your business environment. Assess your business. Update yearly (or quarterly if your industry dictates). Lastly, when introducing new leadership, ensure modern styles are coming on board. Consider it well and the advantage will be yours.




