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How can managers make the most of the vast combination of products and customers in their portfolios while curtailing harmful complexity? "Masters of Complexity" know how to use the "long tail" of product diversification to attract new clients and boost sales, without falling into chaos. In this book, we have tried to capture the unique methods and approaches used by Masters of Complexity to carry extreme numbers of products and services in their offerings, gaining new customers, and growing True Profitability.True Profitability is the real measure of a company's economic success. It's pure profit devoid of arbitrary allocations or interpretations created by conventional accounting systems. It starts with the contribution margin and ends with the free cash generated. Said differently, True Profitability is "money in the pocket." Moreover, contribution margin is a metric to start with, as it represents a clean ratio between price, which is defined by the market, and direct cost, which is achieved by the company's capabilities. It's the purest indicator of economic performance and value that we can find in a business. Everything else is abstraction and convention.
Real profit after taxes is the most important management target. Profits are the cost of survival and the creators of new value. In this book, celebrated management thinker Hermann Simon brings clarity to the jungle of profit concepts and balance sheets. He sheds light on the performance of numerous companies and industries in international comparison and looks at the key profit drivers: price, sales and costs. Hermann Simon derives practical consequences from his astute analysis and offers a convincing guide to profit-oriented and sustainable corporate management! The book pleads for a reconsideration of profit as the guiding concept of management and entrepreneurship, and it showcases how profitability can ensure the long term health of a business. Questioning the fact/dilemma, why more than 80 percent of companies in the US are going public have never turned a profit, this book is invaluable inspiration and a powerful guide for responsible and resilient managers and entrepreneurs.
One Simple Question Can Determine Your Company's Future. Do You Know the Answer? The Ultimate Question offers hands-on guidance on how to: Distinguish good profits from bad. Measure NPS and benchmark performance against world-class standards. Quantify the economic value generated by customer word of mouth. Assign accountability for improving customer relationships. Identify core customers and set priorities for strategic investments. Move customers beyond mere satisfaction to true loyalty. Create communities of passionate advocates that stimulate innovation and growth. Practical and compelling, The Ultimate Question will help you solve your organization's growth dilemma.
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
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.
Kanodia presents a new approach to the study of accounting measurement that argues that how firms' economic transactions, earnings, and capital flows are measured and reported to the capital markets has substantial effects on the firms' real decisions and on the allocation of resources.
Is your business as profitable as it could be? How can you rise above your competition, and stay there once you have? Most management tools only look at one part of the picture, but Business Performance Excellence (BPE) is the complete model, integrating revolutionary new techniques with tried and tested approaches, covering the strategic, financial, systems, and human factors. The editors are experts in business performance improvement, and this approachable book presents the latest thinking and developments in the BPE model that has been enhanced and refined over the course of 30 years. The comprehensive case studies and worked examples presented can be applied to your business whatever your industry, benefiting your bottom line. Detailed coverage includes: * Strategic planning and hoshin kanri * Customer product rationalization * Restructuring and recalibrating * Customer quality assurance systems * The balanced scorecard * Critical performance measures * Benchmarking * Financial performance turnaround * Lean manufacturing * Creating value through people
4th edition of a successful and popular book |s it has been selling over 700 copies a year (even though it's 10 years since previous edition). 3rd edition sold c.8500 copies. More accessible and less mathematical than many of its rivals making it an excellent introductory text Revisions for latest edition add to the international scope of the book
Complexity is slowing companies down, costing them on average 10% of their profits. Based on cutting-edge research, this practical 'how to' guide will show businesses how to remove complexity to boost profits and morale.