We are surrounded by swirling stories of breakthrough ideas, creative moments of genius of one kind or another.  And I think it is true that without that right, great idea, there is little chance for that next new, new thing.

But how do you turn that idea into an actual, working, effective, profitable business?  That takes old-fashioned management work.

That was the underlying truth behind this Morning Report segment, U. Penn Wharton School excels in Silicon Valley.  Note this excerpt:

Michael Sinkula: I have a company here in Silicon Valley. Since I started the company, I wasn’t willing to leave and go to MBA school.
There are lots of Sinkulas out here — with years of experience working in startups, but little idea how to take businesses to the next level, especially going public.
“Wharton operates as a business, not just a business school…  If you have an opportunity to tap into a demand for MBAs, you look to the region hat has that greatest demand, and at the moment, that region is Silicone Valley.”  (Tim Bajarin, a high-tech analyst in Silicon Valley).
The valley is full of sad stories about start-ups that failed because they didn’t have the right management, so this time around venture capitalists are looking for companies whose execs have MBAs.
(from The Marketplace Morning Report, March 26, 2012)

In an earlier blog post, I raised this question:  Which is It? Overmanaged and Underled — OR, Undermanaged and Overled? How about Undermanaged and Underled?  The answer is increasingly obvious.  A company needs it all:  good ideas, breakthrough concepts, good leadership, and some good, up-to-date, old-fashioned management.

There is almost no end to the multi-faceted-expertise needed on the road to success.