Four weeks ago I packed my bags for California (bags being the operative word) and set up my blog to keep my friends, family and colleagues posted. Early the next morning at Heathrow airport I started scribbling as tonnes of ideas and concepts came to mind that I wanted to blog about. As the eternal optimist, hyped with the excitement of my forthcoming trip, I thought I would have plenty of time to write.
My single blog post indicates otherwise. Some of you have even checked to see if my feed is actually working in your RSS reader. “My bad” as my new neighbours would say.
So what have I been up to? From August 10th-20th I was at Stanford University as a participant on the Strategic Marketing Management Executive Programme. This started with a workshop on financial accounting at 8:00 a.m on Sunday – deep dive, no easy warm-up.
300 candidates applied this summer. 38 were accepted from 18 different countries and 17 separate industries spanning biotechnology, financial services and petroleum through to leisure, retail and software. This has been one of my best experiences. Diverse cultures, languages, industries, life experiences, personalities and sense of humour made this programme extraordinary. I loved it.
The differences in government regulations and legislation, individual knowledge and preconceptions on how things ‘ought to be done’ inspired us all. Many of us stayed up late through the night talking about the dynamics of our respective industries, business challenges and discovering stark differences between multi-billion dollar public corporations and small start-ups.
The funniest point was when some people almost choked on their Californian wine when they heard of the profit margins secured by some companies. Or better still when representatives of smaller companies were asked whether they used conjoint analysis to identify cross selling opportunities… “I’m sorry say again?..”
The brand promise from Stanford Graduate School of Business is both grand and bold.
“Change Lives. Change Organizations. Change the World.” My expectations were incredibly high and I wanted my money’s worth. Would I be disappointed?
In 10 days we delved into strategies for market growth, competitive dynamics, creativity in branding and how best to build and measure brand equity. We revisited the customer value proposition, studied customer profitability analysis, pricing strategies and traced through cases of businesses transforming themselves into customer-focused organisations.
The professors combined the best elements of academia and empirical research with some of the smartest insights into industry practice. They delivered this content with passion, creativity and humour. I take my hat off to them for managing to engage us all despite occasional hangovers from nights out in Palo Alto
. We had live role plays and open negotiation sessions with strategies being formulated and announced on the fly.
It’s fascinating to see how serious you suddenly become when you’re elected to take on the role of the Chief Executive of Dell or HP in a role play. Everybody was completely engaged. It was captivating, intellectually challenging and hilarious at the same time, especially with our increasingly desperate attempts to develop new “creative” strategies to outwit our opponents in the last round. Some of which threw our professors off course, often generating the response “OK so let me get this straight, you’re now announcing…”
Coming back to the brand promise of Stanford Graduate School of Business, was it delivered? I would say yes. Every touch point with Stanford and my cohort was a phenomenal experience. I felt confident that I had made the right choice and invested wisely. I look back at my experience fondly. The emotional connection I developed with Stanford University is probably illustrated most clearly through my avid consumption of the Stanford merchandise. A jumper, a t-shirt or two. Who cares it is Stanford. I’m such a geek I know, but I like what they represent and being from a working class background going to University is a major achievement, let alone learning at Stanford.
The article entitled the Power of Brand Delivery from McKinsey & Company made me think. Our cohort was described as “special” and “engaging” by staff at Stanford. We co-created that brand experience. In this context I can understand why they are so selective about their applicants. We as participants each play a role in either reinforcing and thus delivering their brand promise, or diluting it. That’s the magic of their brand strategy. A great brand that attracts the best professionals builds an even greater brand experience.