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Book Review -- The Qualcomm Equation

Written by: Andy Marken

Article Overview: The Qualcomm Equation: How a Fledgling Company Forged a New Path to Big Profits and Market – Dave Mock, AMACOM (American Management Association), www.amacom.com, March, 2005, 266 pages, $25.00

Book Review -- The Qualcomm Equation

What is the value of reading a book that is far from what you might consider mainstream business?

What can you possibly gain to help you in your business/communications efforts?

First of all you undoubtedly use their technology every day. Secondly, the company took the path less traveled and helped build an industry – the wireless phone industry. The industry that lets you stay in touch with business associates, friends and family 24x7 virtually anywhere in the world.

The cellphone and Internet have literally changed the way you view and reach the media, business partners and customers. If for no other reason than curiosity, it is interesting to learn about the company, the management foresight and the firm’s commitment. More importantly, you can learn from their thinking on how to help your management develop strategies that can define and develop your firm’s core business. You can see how they maximized the value to customers and shareholders.

Mock gives you an inside look at the setbacks and obstacles that the firm had to overcome. And if you are involved in government relations, the author gives you an insight into how they handled domestic and regulatory agencies.

Many people in the communications and business management analysis arenas consider Qualcomm part of the Web 2.0 generation of companies. But unlike many of today’s Web 2.0 firms they didn’t have just one product or one objective. They had multiple strategies for building and expanding their bottom-line while taking on firms significantly larger and better connected.

The author, a practicing engineer in the wireless industry, has done a surprisingly good job of discussing the company, its competitive approach and management’s thinking in easy to understand terms.

The Qualcomm Equation gives you a new look at how to attract investors without relying on industry jargon which many communications people use as a crutch when trying to explain their business and their technologies.

The book details how Qualcomm didn’t simply develop products that were essential to customers and competitors, but also explains how the company developed strategic relationships throughout their industry. These were relationships that made both partners winners – a unique concept even today.

Unlike most firms in business/industry today, Qualcomm worked aggressively for standards that could be employed by everyone in the industry – including their largest competitors. They didn’t view competitors as rivals but rather strategic partners so these firms could share knowledge, strengths, assets and the resulting profits.

In a time when we hear and read about companies and management taking the wrong path, it is encouraging to see that a company can succeed in pioneering and commercializing new frontiers without viewing everyone – customers and competitors alike – as mortal enemies to be crushed and taken advantage of whenever possible.

Did they always “win?” No and Mock points out the missteps with remarkable clarity. But the company similarly didn’t take the shortcuts that might lead to short term profits. It is nice to see that principles still count!

The book will be of benefit to entrepreneurs and people involved with entrepreneurial firms to understand how focus and dedication to principals can become a business model you can be proud of in the future.

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