In search of thought leadership: The game has flipped

Once upon a time, a best-selling book would grant its author guru status. Having your name embossed on the hardback cover was an unofficial badge of expertise, whether you were an aspiring management thinker, a boardroom sage or a speaker-circuit regular. Unlike keynote invitations, books delivered credibility and had intellectual cachet. Not anymore. In an era where everyone seems to have published something, has the gold standard of thought leadership lost its lustre?

- Rita McGrath & M. Muneer

To understand how this happened, flash-back to 1982, when In Search of Excellence by Tom Peters and Robert Waterman hit retail shelves with evangelical zeal. American businesses, battered by stagflation, oil crises and the rise of Japan Inc., were in search of reassurance. The book offered exactly that: proof that US companies could still thrive, and more importantly, a codified playbook for success: eight easy-to-recall traits, apparently data-driven and actionable enough for managers to feel empowered. Critics later pounced on its methodological flaws and Peters allegedly even confessed to having "faked the data" in retrospect. But the damage was done. A new genre was born: the business bestseller. And with it, a new mantle: of the business thought leader.

From that point on, books were no longer just idea containers. They became platforms for corporate wisdom. Successful authors got lucrative speaking engagements, management consultancy gigs, corporate board seats and media publicity. Business books became business. High stakes meant new tactics. Michael Treacy and Fred Wiersema, authors of The Discipline of Market Leaders, reportedly spent over $250,000 buying their own books across the US to get into the New York Times bestseller list. It could let them hike their speaking fees and get bigger consultancy and book deals.