One of the first rules that should be told to current and aspiring company executives is “to be ready”, and one that was clearly missing from the Facebook’s executive and management training program.
After Facebook’s publicized stock rise and fall cycle, responsible for a few new billionaires in the company, and a lot of unhappy early investors; they have been engaged in an open battle with their primary nemesis Google. Just a few days ago Facebook stock jumped on the announcement that soon the company will release a new and revolutionary product that will help them regain their leadership position in the market. Well the product was announced Jan 15th, and according to a number of analysts and the opinion in the streets , it may not be all that different from what is already available out there, and that for now it’s just a beta product that may require years of development before becomes a truly competitive product.
Seems that in order to be ready for the announcement, a number of high impact interviews were scheduled, or simply many of the industry reporters were interested in learning more about the product. CNET being one of the biggest and better recognized ones landed an interview with the new product Director of Development, and the Lead Engineering Manager for the product. During the interview and as expected the reporter asked a question about what does the team expect the final product looks and feels like.. And Facebook director of development seemed to chocked up and replied… “well we don’t really know.. it’s still being decided..”
You would have thought that after a planned development and who knows how many millions attempting to develop a product that will allow Facebook to successfully compete, they managed to finally imitate Google’s 20% rule and rushed to promote a product that for now only a few thousands (less than 0.00000001%) of the famous billion Facebook users may be able to experience for now. Let’s hope that the majority of the executives out there actually know their company products, and the proper program management processes better than this example. If that is not the case, then it may be time for high tech organizations to start hiring CNET reporters with a better grasp of business processes, marketing research, and presentation skills than many of the current executives. We may even finally see company stocks rising based on innovation and performance, something stakeholders of any kind will surely welcome.