Steve Denning
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Organizational and business storytelling: story #165
A summary of organizational storytelling for May 2004 


"Read all about it!"                     Organizational Storytelling Is In The News
How important is storytelling? A million, a billion or a trillion dollars?
    Pick up any business newspaper and what do you find? The large-scale financial impact of organizational storytelling on a daily basis. What does all this storytelling add up to?  In 1995, Deirdre McCloskey startled the rigorously analytic world of economics when she published an article in the American Economic Review entitled “Persuasion Is A Quarter of GDP.”  showing that persuasion is more than a quarter of the GDP. If at least half of this is storytelling. storytelling in the U.S. economy amounts to more than US$1 trillion annually.  In this archive, you'll find the daily confirmation of the financial impact of storytelling in the news.
Organizational and Business Storytelling In The News: Story #165
May 31, 2004
Summary of storytelling in the news for May 2004

May 2004 was marked by the continuing expansion of the explicit coverage of organizational storytelling in mainstream business media. 

Harvard Business Review began the month with the publication of my article, Telling Tales:  #136

The Financial Times of London had a column on storytelling on May 10, (#145) as well as my reply to that column on May 24, pointing out that the millennia-old phenomenon of storytelling could hardly be considered a fad. 160. (#161)

Other articles appeared 

  • in Many Worlds #139
  • in ComputerWorld  (#147)
  • in Marketing Professionals (#149
  • in The Herald (Glasgow, UK) (#154), 
Business fiction 

While I preparing for a panel discussion at  BEA in Chicago on Saturday June 5, it suddenly dawned on me -- these are not just books, but also huge business phenomena. Who Moved My Cheese? has generated more than $100 million in revenue, and business fiction now plays a prominent and increasing role in the lists of best-selling books. So I decided to start a series of reviews of (a) major and (b) interesting books --  two categories that don't always correlate! The first three reviews are:

Springboard stories 

There were several stories about generating change, including the prospects of Linux  #158; the saga at NAB  #157; and IDEO's work in innovation #144

John Kotter's (belated) endorsement of the role storytelling as a tool for communicating change was also noted:  #140

How stories trump images

A couple of dramatic items showed how stories trump images, no matter how vividly images stick in the memory. Images contain merely information: to turn the image into knowledge, we have to go to the story. 

Thus no matter how striking they may be, their meaning lies not in the image itself, but in the story we read into the image: #137. On May 15, we saw how similar images in the US and the UK had diametrically opposed outcomes: #150.

Knowledge-sharing tories 

Among the numerous stories about sharing knowledge, perhaps the most striking was the item on what's involved in learning to become a Toyota executive: #138.

There were a number of stories illustrating how markets around the world rise and fall on the basis of stories, whether it's global markets: #153, or panic in India:  #151, or the US economy:#142  #141
  #146: or merely Krispy Kreme doughnuts #143

Stories of identity 

We explored the issue of authenticity in the neutral context of food   #156 as well as in the highly charged U.S. presidential campaign with the storylines of the candidates #155

Stories about values 

Stories about values were also present, with popular villains Dick Grasso of the NYSE  #161
and Martha Stewart  #159

All in all, it was another intriguing month of organizational storytelling!

For more examples of Storytelling in The News, go to the Archive

  Got comments or feedback? Steve would love to hear from you. Write to him here
 
Learn more about
  Squirrel Inc: A Fable of Leadership Through Storytelling
          a new book by Steve Denning (Jossey-Bass, June 2004)

  Storytelling in Organizations
          a new book by Steve Denning with John Seely Brown, Larry Prusak & Katalina Groh
          (Elsevier, June 2004)

   The Springboard: How Storytelling Ignites Action in Knowledge-Era Organizations 
          The acclaimed book by Steve Denning (Butterworth Heinemann, 2000)

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Steve Denning consults and gives workshops and keynote presentations on topics that include: leadership, innovation, organizational storytelling, business storytelling, springboard storytelling, knowledge management, branding, marketing, values, communication, communities of practice, business performance, collective intelligence, tacit knowledge, business collaboration, knowledge, learning, community, performance improvement, visionary leadership, social potential, institutional community building, and internal communications. You can contact Steve at steve@stevedenning.com

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