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Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability. Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that: · Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances. · A small, profitable business can be worth much more than a large business surviving on its top line. · Businesses that attain early and sustained profitability have a better shot at achieving long-term growth. With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of.
The idea of workers owning the businesses where they work is not new. In America’s early years, Washington, Adams, Jefferson, and Madison believed that the best economic plan for the Republic was for citizens to have some ownership stake in the land, which was the main form of productive capital. This book traces the development of that share idea in American history and brings its message to today's economy, where business capital has replaced land as the source of wealth creation.div /DIVdivBased on a ten-year study of profit sharing and employee ownership at small and large corporations, this important and insightful work makes the case that the Founders’ original vision of sharing ownership and profits offers a viable path toward restoring the middle class. Blasi, Freeman, and Kruse show that an ownership stake in a corporation inspires and increases worker loyalty, productivity, and innovation. Their book offers history-, economics-, and evidence-based policy ideas at their best./DIV
The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm’s performance, also reflect this new attitude toward labor. Shared Capitalism at Work analyzes the effects of this trend on workers and firms. The contributors focus on four main areas: the fraction of firms that participate in shared capitalism programs in the United States and abroad, the factors that enable these firms to overcome classic free rider and risk problems, the effect of shared capitalism on firm performance, and the impact of shared capitalism on worker well-being. This volume provides essential studies for understanding the increasingly important role of shared capitalism in the modern workplace.
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The First Management Classic of the New Millennium! A bold experiment is taking place these days, as leading-edge companies turn upside down the management paradigm that has dominated corporate thinking for more than one hundred years. Southwest Airlines is perhaps the most visible practitioner, soaring through economic downturns while its competitors slash their budgets and order massive layoffs, but you can find other pioneers of the new approach in almost every industry and market niche. Their secret: a culture of ownership that allows them to tap into the most underutilized resource in business today–namely, the enthusiasm, intelligence, and creativity of working people everywhere. No one knows more about building a culture of ownership than CEO Jack Stack, who’s been working on one for the past twenty years with his colleagues at SRC Holdings Corporation (formerly Springfield ReManufacturing Corporation). Along the way, they’ve turned their company into what Business Week has called a “management Mecca,” attracting thousands of people representing hundreds of businesses to SRC’s home in Springfield, Missouri. There the visitors learn how to incorporate the ideals and values of SRC’s remarkable corporate culture into their own organizations–and then they go back and do it. Now, in A Stake in the Outcome, Stack offers a master class on creating a culture of ownership, presenting the hard-won lessons of his own twenty-year journey and explaining what it really takes to build for long-term success. The pioneer of “open-book management” (described in the best-selling classic The Great Game of Business), Stack and twelve other managers began their journey in 1982, when they purchased their factory from its struggling parent company. SRC grew 15 percent a year, while adding almost a thousand new jobs, and the company’s stock price rocketed from 10 cents to $81.60 per share. In the process, Stack discovered that long-term success required constant innovation–and that building a culture of ownership involved much more than paying bonuses, handing out stock options, or setting up an employee stock ownership plan. In a successful ownership culture, every employee had to take the fate of the company as personally as an individual owner would. Achieving that level of commitment was extraordinarily difficult, but Stack realized that the payoff would be enormous: a company that was consistently able to outperform the market. A Stake in the Outcome isn’t about theory–it’s about practice. Stack draws from his own successes and failures at SRC to show how any company can teach its employees to think and act like owners, including how to implement an effective equity-sharing program, how to promote continuous learning at every level of the organization, how to fire up employees’ competitive juices, how to broaden the concept of leadership and delegate responsibility for the business, and how to build a workforce that is fast on its feet and ready to take advantage of every opportunity. You’ll also learn about other companies that have succeeded in building cultures of ownership–and the lessons they can teach the rest of us. Written in Jack Stack’s straightforward, witty, no-beating-around-the-bush style, A Stake in the Outcome is like having a one-on-one session with a master entrepreneur and business innovator. It shows managers and executives of companies both large and small how to build a ferociously motivated workforce that is energized and committed to meeting and overcoming the most daunting challenges a company can face.
A groundbreaking and revolutionary book that will transform how lean is understood, practiced, and used within organizations A lean strategy is about gaining a competitive edge by offering better quality products at competitive prices and making a sustainable profit by eliminating waste through engaging employees in discovering deeper ways to think about their own jobs and smarter ways of working together. In its current form, lean has been radically effective, but its true powers have yet to be harnessed. Lean Strategy harnesses that power and delivers a new way of creating value from lean. Leading lean experts address popular misconceptions about the basics of lean/TPS, showing the true purpose of tools, methods, and attitudes that leverage the intelligence of every employee doing the work. You’ll learn how to think—and then act—differently, tapping the power of every person in your organization in a disciplined manner that generates unparalleled, sustainable success that is responsive to today’s most pressing challenges
Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Many people mistakenly believe that Social Security (SS) will pay for all or most of their retire. needs, but the fact is, since its inception, SS has provided little protection. A comfortable retire. usually requires SS, pensions, personal savings & invest. The key tool for making a secure retire. a reality is financial planning. It will help clarify your retire. goals as well as other financial goals you want to ¿buy¿ along the way. It will show you how to manage your money so you can afford today¿s needs yet still fund tomorrow¿s. You¿ll learn how to save your money to make it work for you & how to protect it so it will be there when you need it. Explains how you can take the best advantage of retire. plans at work, & what to do if you¿re on your own. Illustrations.