BOOK REVIEWS
SUCCESS IN TROUBLED TIMES Our alumni reviewers offer their opinions on two recently published business books
What Works What it Takes to Succeed in a Competitive Global Marketplace
By Hamish McRae Published by HarperPress ISBN-13: 978-0007203772
This is a worthwhile attempt to identify what works in the world today amidst these troubled and chaotic times. Prof Hamish McRae is well qualified to write such a book, being the principal economic commentator of The Independent and an award-winning business journalist. He is also very well trav- elled and has obvious first hand experience of the countries, cities, companies, colleges and other entities that he singles out for praise. He adopts a simple format: what is the story? What are the lessons (he lists 20)? What could go wrong? Rather than finding case studies to promote a theory, McRae observes success and then tries to explain the reasons. Hence this is an easy read and not too theoretical, which may not suit the deeper intellectuals. The list of successes is quite personal to the author and, he freely admits, certainly not exhaustive. I would add that the list is a touch arbitrary and almost quirky. However, there are some great stories and excellent observations. Of the 20 essays on what works I was particularly impressed by the story of Germany’s continued supremacy as a goods export nation and its thousands of medium-sized companies. Culture is key here with innovation coming from the bottom up and an ingrained attitude that technical education and com- mercial competence are essential for success (rather than gov- ernment policy).
I was also struck by the story of how mobile telephony is making a positive difference throughout Africa. Despite major obstacles the mobile network is now in place and by 2012 it is estimated that more than half of Africa’s population will have a mobile phone (90% pre-pay). This will radically alter the way Africans relate to commerce and perhaps give hope for a brighter future. The slums of Mumbai are another case of what works, in a counter-intuitive way. Known as Dharavi and made famous by the film Slumdog Millionaire, the slums are home to almost a million people crammed into one square mile. Despite very
poor living conditions it is home to a community that works with basic schools and thousands of small ‘factories’ – nine out of 10 people there have jobs. The lesson: economic activity (more so than public services perhaps) helps create stable and self-reliant societies. McRae has a soft spot for Ireland, having grown up here. He includes the rise of the Celtic Tiger (young, educated popula- tion, low taxes, political stability, Europe, foreign investment, etc) among his success stories despite our recent difficulties. He rightly highlights that Ireland is a powerful ‘brand’ and that inward migration was a positive experience. While acknowl- edging that the economy has ‘gone wrong’, he expects that the current remedial action being taken by the Government will eventually get us back on track. In his conclusion, the author sets out 10 common threads that run through the narratives. The first of these stresses the importance of optimism and this helps to explain to me why he thinks ‘Ireland will resume its place as a beacon for the rest of the developed world’.
Colm Sorenson (BComm 80) is managing director at Butlers Chocolates
34 UCD BUSINESS CONNECTIONS
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