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The Gold standard
by Carol Schmidt
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'We will live in a better connected world that will create opportunities for those who have never had them before.'
--Mike Gold |
He had lived on three continents with a thriving career in international advertising, that most competitive of all businesses. However, Mike Gold says it was a "City Slicker" moment that first lured him away from a fast-track career to Bozeman. The former president for the international advertising firm Saatchi & Saatchi and his family fell in love with Montana during a vacation and then moved to the Big Sky Country. After a year of fishing and golfing, a random meeting at a local cafe led Gold to teach a class in global marketing at MSU's College of Business. It was a great fit for Gold, and MSU students are wildly enthusiastic about their classes with the magnetic former manager of accounts for such companies as FedEx and Pizza Hut. Gold, who still calls himself a Londoner although now his West End home is in Gallatin Gateway, also now serves as the CEO for the Bozeman-based Flying Horse Communications.
How important is the global marketplace to today's student?
If they live on a ranch farming beef, they will have to know the potential effect on their prices due to the strengthening Brazilian beef market. China is fast becoming an economic superpower, whose fiscal performance could affect the interest rate our students will pay on their mortgages. Globalization might even affect their career choice, as some of the careers that they would have traditionally been interested in pursuing may have moved overseas. I cannot overemphasize this point.
What one thing do you try to teach MSU students about the world beyond campus?
I try to teach the students to celebrate cultural difference, rather than be afraid of the unknown. When we have our classes on "differences in culture," the students absolutely love them. They cannot believe how many factors combine to formulate a country's culture. It also opens their eyes to how different other cultures are compared to the U.S., and how these differences determine the way business is conducted.
How can Montanans prepare themselves to compete in the global marketplace?
Be open-minded, absorb as much knowledge as possible, learn a language and definitely try to do a semester in a foreign country. MSU offers tremendous opportunities for students to travel and learn; take advantage of them.
What one thing do you enjoy the most about your students?
I really enjoy the expression on their faces when I am explaining something totally alien to them. It is also very satisfying when something you have studied becomes a major news story and the students tell you that they really understand the implications whereas before it would have just gone over their heads. An example of this was when we had studied why sub-Saharan Africa was so poor and likely to stay that way, as they had no access to credit; a month later Muhammad Yunus of Grameen Bank won the Nobel Peace Prize. They really understood why.
How do you see advertising changing over the next five years?
The biggest change will be in the growth of advertising dollars spent online. Just look at how successful Google has been. I see the online media companies being successful at the expense of both newspapers and TV. With wireless technology, we spend more time with our computers than ever before. Unlike broadcasting, where many advertising dollars are wasted, advertisers can really target their consumers via their computer, be it by geography, demographics or psychographics. This enables brands to have a one-on-one relationship with their consumers, which is far more cost-efficient. Advertising on cell phones with specific text messages and podcasting are likely to experience huge growth.
The Internet and wireless technology have had a great effect on our lives. How do you see this evolving?
More people will gain access to the Internet as the cost of technology continues to fall and conventional wireless becomes WiMAX (wireless clouds that claim to cover up to 50 miles, not 50 feet). We will live in a better connected world that will create opportunities for those who have never had them before in areas such as education and e-commerce. The other major impact will be the growth of "borderless social interaction," which includes blogging, social networking sites, video/photo sharing, satellite mapping, etc.
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