The Business of Managing and Marketing in the Age of Turbulence

by Philip Kotler , John A. Caslione

Number of pages: 224

Publisher: AMACOM

BBB Library: Sales and Marketing, Leadership

ISBN: 9780814415214

About the Authors

Philip Kotler : He is one of the world's leading authorities on marketing, and


John A. Caslione : John A. Caslione is an American investment advisor, consultant, professor, author,


Editorial Review

“Chaotics” provides business leaders with the system and tools to successfully navigate through the uncertain waters that will continue to confront all of their businesses in this new era “The Age of Turbulence”. The fact is that we are entering a new age of turbulence. But what is turbulence? We know it occurs in nature: It creates havoc in the form of hurricanes, tornados, cyclones or tsunamis. We experience turbulence in the air from time to time when a pilot asks us to fasten our seat belts. In all these cases, stability and predictability vanish; instead, we are buffeted, bounced and jabbed by conflicting and relentless forces. And sometimes the turbulence will be so continuous as to plunge the whole economy into a downturn, a recession or depression. Economic turbulence creates the same impact on us as turbulence in nature.

Book Reviews

"In Chaotics, Kotler and Caslione argue for a “disciplined approach” to business decision making as opposed to relying on gut instinct or conventional wisdom. According to the authors, “responsive, robust, and resilient” businesses constantly look for the “weak signals” of turbulence and are proactive in constructing, rehearsing, and revising various chaos scenarios and their preferred response strategies." Graziadio Business Review

"Chaotics management provides a framework to detect early signals of turbulence, construct key scenarios, and develop critical strategic responses to mitigate vulnerabilities and capitalize on opportunities, even in today’s highly turbulent times. This novel framework has a foundation in strategic scenario planning, commonly know as war games or game theory. Adding to those strategic planning tools, Chaotics management seeks to elevate organizational readiness in radically uncertain contexts where the relationship between cause and effect are impossible to determine or no manageable patterns exist." Marketing 4 Marketeers

"Turbulent times reveal both vulnerabilities in organizations, and more important, it reveals opportunities. Whenever we encounter turbulence, it means that something is being shaken up that may have in the past been more predictable. In essence, the status quo that is being shaken, sometimes shaken to its core. And how you manage that depends on the preparedness of the organization; have they engaged in scenario planning, are they evolving their strategies more quickly, do they have fast action response teams, have they expanded their stakeholder base and the “touch points” for their stakeholder base to get a continuous flow of information, in order to be able to spot the soft cures even before as they start happening? If companies have done this, then they are going to be in a much better position to exploit the opportunities that the turbulence in the new normality will yield to them. So my advice would be more innovative thinking and the thinking has to come first, before you act." InnovationMangement

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Wisdom to Share

In normal times, businesses compete with a mixture of offensive and defensive plays, but are not likely to win big. In runaway growth periods, they see new opportunities everywhere.

Business leaders must manage during times of greater turbulence through a system that enables them to make better decisions: a management framework and system dealing with chaos; they need “Chaotics Management System”.

An event or change in circumstances of one country -whether a bank failure, a stock market or real estate crash, a political assassination or a currency default -can spread to many other countries and create massive turbulence, spinning the whole system toward completely unforeseen outcomes.

If a company’s leaders fail to successfully navigate their way through the inflection point, the business declines.

Your instincts or maybe paranoia will tell you to remain ever vigilant because you don’t know when a sudden and strong wind will hurl your company or your whole industry into unwanted chaos.

The phrase “butterfly effect” refers to the idea that butterfly wings create tiny changes in the atmosphere that may ultimately alter the path of a storm system like a tornado in a certain location.

Business turbulence is defined as the unpredictable and swift changes in an organization external or internal environment that affect its performance.

The “butterfly effect” occurs because ours is an increasingly interconnected, interdependent globalizing world that is accelerating in its “globalness”.

All people, all governments and all businesses are now connected and interconnected at some level, and the impact of turbulence of each will be “felt” in some way by others in our globally connected environment.

Economic uncertainty is like an elixir that can lead even the most skilled of CEOs, when they fall under its influence to make serious mistakes.

Rather than having suppliers solely chosen by purchasing departments and distributors selected solely by sales departments, companies should base their selection on input from cross- functional teams within the company.

Companies should invest in and use various methods to improve communications with their suppliers and distributors, reduce miscommunications and provide feedback on issues of mutual interest.

Never lose sight of your company’s core values. Undermining the culture and reallocating resources can have long-term damaging effects.

Business leaders should visit places where change is happening. They need to feel the change personally, not just read about it in a business magazine or get it in a report.

Executive management must eliminate the filters; i.e. their access to unpleasant truths should not be blocked by anyone in their organizations who may be motivated to protect them.

Business leaders must accept the inevitability of strategy decay, for nothing lasts forever.

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Recent researchers argued that businesses must adopt a “shared value” mindset that seeks out and capitalizes on business opportunities to create “economic value in a way that also creates value for society by addressing its needs and challenges.” They criticize most companies for being “stuck in a social responsibility mindset in
Good Works!

Recent researchers argued that businesses must adopt a “shared value” mindset that seeks out and capitalizes on business opportunities to create “economic value in a way that also creates value for society by addressing its needs and challenges.” They criticize most companies for being “stuck in a social responsibility mindset in