In Will and Vision, the authors refute the theory that first-movers have an overwhelming advantage, and replace it with the idea that seven factors, that can be summarized as will and vision (hence the title of the book) are instead the factors that permit companies to dominate markets.

First, the author performed an in depth empirical study that included 43 different industries at different times in order to show that the original entrants in many markets were not in fact the current leaders. Instead, the authors offer the following seven factors as the main ones in determining whether firms became leaders in their markets:

•Envisioning the Mass Market - Examples include P&G with Pampers disposable diapers for everyone instead of for travelers only and Kodak with photographs for the non-professional.
•Uniqueness of Vision - Examples include Tim Berners-Lee and the development of the WorldWideWeb and King Gillette's view of the razor market.
•Persisting Against All Odds - Examples include Bill Gates' persistence that landed him the operating system contract with IBM and Haloid's persistence over a decade that created Xerox.
•The Need for Relentless Innovation - Examples include Moore and Noyce leaving Fairchild Semiconductor to found Intel and the relentless pace of innovation there, and Gillette's close brush for lack of innovation in the 1960s and its ensuing fast pace since.
•Organizing for Innovation - Examples include HP's organization beating Xerox and IBM at the laser printer market, and Netscape beating Mosaic by taking talent and rewarding it.
•Raising and Committing Financial Resources - Examples include Fred Smith's almost bankruptcy to keep FedEx alive and Amazon sacrificing profits for a long period in order to achieve its envisioned mass market level of service.
•Leveraging Assets Despite Uncertainty - Examples include IBM losing the PC battle because it did not want to hurt its mainframe sales, and Charles Schwab's leadership in web trading after it chose to focus on it and sacrifice off line higher margins.

Overall, I found it a very good entertaining book, with anecdotes that help support the ideas the authors suggest. I strongly recommend it.

This book comes out with a hypothesis challenging conventional thinking which assumes that pioneers dominate markets. Collecting and analyzing historical data from over 66 industry segments the conclusions by the authors is baffling. This is not a case where statistics is used conveniently to support untested theories using available tools to prove a point. The approach to understanding market dominance and the role of pioneers and followers is path breaking. Contrary to common belief, data shows that in many cases the pioneers have as little as 9 % market share. The ingredients for success are therefore not being there first, but doing the right things.

Five factors that emerge as key to ensuring long term success and market dominance are Vision, Persistence, Financial Commitment, Innovation and Asset leverage- factors that are structurally related in a causal chain starting with a clear vision for a mass market. There are innumerable examples and detailed cases where the inability to see a mass market for innovative products has resulted in late comers grabbing the market from incumbents. Fear of cannibalization of existing products, bureaucracy, complacency, are some other causes that stifle growth.

After explaining the hypothesis, a good and crisp summary of the conclusions from the historical data, every chapter proceeds sequentially to substantiate the findings. This is a rare combination of business history, statistical analysis and strategy. It is this unique combination and the unconventional wisdom that is bound to make this book a classic in its own right. The range of products covered varies from diapers to couriers and computers. IBM, Microsoft, Fed Ex, Xerox, Gillette are some companies that are discussed in detail.

Comparing it with other books on similar research, my prescription for business would be:

Innovators Dilemma + Will and Vision + Built to Last + Good to Great = Road to Market dominance.

Highly recommended.

Gerard J. Tellis and Peter N. Golder methodically and empirically demonstrate that pioneers are rarely rewarded for their efforts at the end of the day. The confusion between pioneers and current market leaders lies in the exclusion of failures (survival bias), tendency for managers to refer to their own firm as the pioneer (social desirability or self-reports bias), and self-serving market definitions (self-serving bias). For example, the Gillette Company is the oldest surviving firm in the disposable razor market. However, the Gillette Company was not the firm that first commercialized the razor. Similarly, Intel was not the firm that first brought the microprocessor or CPU to the market, even it has been perceived as the pioneer in that industry.

Tellis and Golder brilliantly build on over a decade of in-depth research to show that vision, persistence, relentless innovation, financial commitment, and asset leverage are the real factors that drive the superior performance of enduring leaders like the Gillette Company and Intel.

1. In their examination of "Vision", Tellis and Golder take their distance from the traditional definition of that much abused business term. Often, vision is indeed synonymous with broad mission statements used to excite and inspire stakeholders of an organization. In Counter-intuitive Marketing, Kevin J. Clancy and Peter C. Krieg concurred that most companies do not have much of a vision (See especially pg. 74 - 86). Vision has two key components according to Tellis and Golder: 1. A focus on the often-decried mass market with its dynamic and evolving needs and 2. A unique perspective of serving that mass market. For example, in contrast to its top competitors, AOL has stressed from the beginning convenience, ease to use, community, and ubiquity. Similarly, McDonald's has stressed from the onset quality, service, cleanliness, and value to build a worldwide network of mainly franchisees for bringing fast food to the masses. In Product Strategy for High Technology Companies, Michael E. McGrath gives a good complement to Tellis and Golder's definition of vision by explaining it as an answer to three key questions: 1.Where does a firm want to go? 2. How will the firm get there? And most critical 3. Why will the firm be successful? (See especially pg. 12, 306, and 317).

2. In their analysis of "Persistence", Tellis and Golder debunk the myth that enduring market leaders usually achieve their success through luck or sudden breakthroughs. In fact, visionaries have the will to persist in their efforts through seemingly insurmountable obstacles, slow progress, and long time efforts. The origin, early struggles, and ultimate success of Federal Express showed how important the vision and persistence of Fred Smith, its founder, made the difference at the end of the day. Similarly, the ultimate success of xerography after 13 years of research was due to the unwavering faith of former Xerox (Haloid)'s CEO, Joseph Watson in the underlying technology.

3. In their approach to "Relentless Innovation", Tellis and Golder remind their audience about the importance of firms not resting on their laurels. Technology and consumer tastes constantly change. Tellis and Golder rightly identify complacency with past successes, bureaucracy, managerial occupation with current customers and competitors, and fear of cannibalizing existing products as the four enemies of the relentless pursuit of innovation. For example, the earlier history of the Gillette Company clearly indicated that its success led to complacency and arrogance detrimental to its market leadership several times. Quoting Andy Grove, one of the founders of Intel, "Only the paranoid survives." In Product Strategy for High Technology Companies, Michael E. McGrath gives a good complement to Tellis and Golder's examination of both time-based and cannibalization strategies (See especially pg. 219 - 234 and 257 - 271).

4. In their study of "Financial Commitment", Tellis and Golder demonstrate that visionaries show persistence in their ability and willingness to raise and commit financial resources whatever the obstacles in their way. For example, Federal Express was on the brink of bankruptcy for years before it finally took off. Similarly, King C. Gillette, one of the co-founders of the Gillette Company, struggled not only to launch the eponymous company but also to raise the capital necessary to commercialize his disposable razor for years.

5. In their dissection of "Asset Leverage", Tellis and Golder look at how generalized and specialized assets can be mobilized for dominating a product category. Tellis and Golder rightly identify the extent to which the new product category does or appears to threaten the old product category, a strict focus on costs, myopic view of markets, and bureaucracy as the four major hindrances to leveraging assets. Xerox squandered more than one opportunity to leverage its assets to adopt and commercialize the revolutionary discoveries of its Palo Alto Research Center for years. In contrast, Microsoft showed sacrificing several products in development as the way to catch up with the competition after it had initially misjudged the potential of the Internet revolution.

Tellis and Golder also remind their audience that the relative importance of the five factors mentioned above varies by firm and market characteristics: new firms, established firms competing in established markets, and established firms entering new, yet unrelated markets (See pg. 265 and 266).

To summarize, Will and Vision by Gerard J. Tellis and Peter N. Golder is like The Innovator's Dilemma by Clayton M. Christensen a major contribution to a better understanding of how markets really work.

Spending too much money on textbooks this semester? Purchase this text and you'll actually read and utilize it. The authors are concerned with teaching the material, NOT showing the reader how smart they are. That's what counts, LEARNING.

Are you a geoscientist or a student in geosciences? Did you have quite some physics and mathematics during high school and/or college, but never fully understood how earth sciences really connect with them? Are you sometimes annoyed by the difficulty to understand some papers loaded with equations in your professional literature? If the answers to these questions are "yes", than this book can be a very useful one for you, regardless if you are a structural geologist, sedimentologist, hydrogeologist or petroleum geologist. The mathemathical background which you need for the book is only introductory calculus. And, as most books or papers written or co-authored by G.V. Middleton, it is well written, and, despite the not-so-easy subjects, it is easy to follow and understand. You will find a review of elementary mechanics, chapters about dimensional analysis, stress, pressure and buoyancy, flow through porous media, strain, elasticity, viscous fluids, flow of natural materials, turbulence and thermal convection. Of a special value for me were (and still are) the suggested readings, which pick a few good references from a sea of titles, for me an unfamiliar list which made it always problematic to choose the best/right readings. This book can be used as a great textbook and teaching material for upper level undergrads or beginner level graduate students in the earth and environmental sciences.

This is a great book which I feel challenges preconceptions and stereotypes of beauty in a modern world.
The photographs have a distinct edge and are furthered by the Texts which echo the work so well. My favourites are the Rachael Cusk and Nick Cave Essays.

I heartily recommend this book, it is really intellegently put together.

This is a collection of beautiful photographs of mostly unbeautiful people and places. This is a great challenge and he meets it well. The more I look at this book, the more unfolds for me. These are dense, graceful photos from around the world. He uses cross processing, black and white and simple color with the eye of a real master. There are a collection of short stories which I have not read yet, but anything with Nick Cave in it, gets my money. For a first book, this is a keeper.

Nerval's work brings us to a moment when the Western mind was losing faith and seeking a way out. Drifting through the "forest of symbols" in the mid 19th century, Nerval anticipated everything from Symbolism to Surrealism. Baudelaire and his children may have found many dark visions, but Nerval first illuminated the hidden path. "Chimeras" is a work that is both romantic and bitter. Goddesses are profaine and unattainable. The muse bestows a bitter blessing, for one of the great themes of this sonnet sequence is the inability to reconcile the real and the unreal. Many poets have mined this idea since, but this trailblazing work still holds its power. Few poems can match the unforgettable closing sonnet, "Vers Dorees", a fierce message to modern man. "Freethinking" humanity must humble itself, for it cannot control "life that bursts in everything". So charged is this poem, that the final line, "a pure spirit lies beneath the skin of stones", pushes the reader to the limits of reason.

In his review below, A reader suggests we overlook the "small errors" in this book "in the interest of the greater whole."

First, if an error of 50 MILLION percent is small, I'm curious to know what he would consider a significant error.

Second, I challenge his notion that it is in the interest of the greater good to ignore these errors. It is my understanding that the primary purpose of science is to dismantle misconceptions, not to dispense them... too better our understanding of the world not to worsen it. If we value science, we must value the social necessity of challenging what is presented as scientific fact. We must shine a light on these errors as errors, not turn a blind eye to them. (By the way, no one has challenged the accuracy of my initial review below.)

Personnally, I feel the value of this book can only be enhanced by correcting these errors and eagerly await the next edition.

The long and thoughtful comment below may, in fact, be accurate. Mistakes do creep into the publishing process, unfortunately. But as someone who has been involved in the professional science community for many years, I feel these small errors should be overlooked in the interest of the greater whole. This is a major, highly readable work by one of the most important scientists and journalists of our time. Beautifully illustrated, each of the chapters is compelling in its own right and can be read by anyone with a keen sense of curiosity about the scientific discovery process. To see it as anything less is quibbling indeed. Fans of "Uncle Tungsten" by my neighbor Dr Oliver Sacks and the current popular hit "Tuxedo Park" will love this beautifully packaged book and find it every bit as accessible and riveting.

We have taken notice of the points scored by George Nagashima in his reader-review of The Age of Science by Gerard Piel, a Cornelia and Michael Bessie Book, published by Basic Books. Mr. Nagashima's helpul perceptions will be reflected in the next printing of the book.
Thus, his finding of a "mistake...of 50 MILLION percent" may and will be set aright by restatement of a metaphorical explanation of the familiar equation E=mc^2; thus: "...one may attempt to picture 9x10^8 tons accelerated..." instead of "one may attempt to picture the acceleration of 9x10^8 tons."
To the general reader, The Age of Science has had recommenation by every scientist who has had the pleasure of reading it. Philip Morrison, the MIT astrophysicist, has this to say: "Gerard Piel describes science and scientists as he - no scientist but a clear and happy writer and attentive expositor - judges the work. Chapter by chapter, he summarizes...space and time in four dimensions, particles, quantum theory, the living cell, geology and the rise and evolution of our own sapient species. This work is both personal enough to engage anyone and precise enough to carry the work of science at a worthy level."
In the international weekly Nature, the sociologist Zaheer Baber of the University of Saskatchewan, writes: "The fact that Piel consistently connects the growth of scientific knowledge to the social and political milieu of its genesis, while simultaneously alluding to the changes in the social context induced by these discoveries makes The Age of Science...the most intelligent, lucid and sociologically sensitive discussion of the broad trajectory of scientific knowledge yet available."
As the publisher who urged the author to undertake this book, I am gratified and proud of its reception by the scientific community and thus able to commend it to the wide audience to which it is addressed.

Buy this book if you have deep pockets and will indeed open your own bank. But again, if you have that kind of money, chances are that you are already familiar with the nuts-n-bolts of the banking industry, in which case the book will not be of much use. In my opinion this book would be most useful for the banking industry analysts...

I tend to concur with the comments of reviewer from Homewood, IL USA. As an ethnic minority from Down Under, the obvious under-representation of Aboriginal [homosexual] writing is noticeable, and in some ways, embarrassing! For an introductory account to Australian issues about homosexuality, this may be an okay starter, but there certainly need to be more theoretical discussions to make it an important reading for the scholarly community.

Jackson and his colleague have amassed essays from homosexual men and lesbians of non-English descent down under. Few books have discussed ethnic and racial differences in Australia and this is truly an important intervention. It is great for a comparison of race and sexuality between Australia and the United States. However, the absence of Aboriginal [homosexual] writing is noticeable. If this book is accurate, minority [homosexuals] in Australia are decades behind their counterparts in the United States in terms of activism, publishing, and a host of other topics; the editors fail to acknowledge this either. Also, the editing is a bit haphazard. The authors say one Asian [homosexual] contributor got a fact wrong. Well, why not edit his article correctly rather than make him look stupid? The submissions are pretty evenly divided between men and women. Those who collect [homosexual] Judaic studies texts may especially be interested in this book. There are American books that are soooooo much better; but this could be a valuable tool for comparative ethnic studies scholars.