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MBA Basics

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ISBN-10: 0028644492

ISBN-13: 9780028644493

Edition: 2nd 2003

Authors: Tom Gorman

List price: $19.95
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A revised edition of the popular classic, this title features updated topics to build MBA knowledge. Students and managers alike will learn about management skills, business operations, financial statements, marketing, product development, customer service, strategic planning, information management, and quality management. Updated coverage includes global and international business, knowledge management, e-commerce, supply chain management, sales channel management, and financial integrity and ethics.
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Book details

List price: $19.95
Edition: 2nd
Copyright year: 2003
Publisher: Penguin Publishing Group
Publication date: 3/4/2003
Binding: Paperback
Pages: 408
Size: 7.25" wide x 9.00" long x 1.00" tall
Weight: 1.540
Language: English

Tom Gorman, M.B.A. is a business-book author. He has written or collaborated on more than 15 business books and his articles have appeared in Business Marketing Magazine and The New York Sunday Times. He holds an MBA from New York University's Stern School of Business. Prior to becoming a full-time author, Tom worked in Fortune 500 companies and smaller businesses as a banker, manager of product development, executive recruiter and marketing consultant.

The Manager's Toolbox
The Meaning of Management
What Makes a Good Manager?
The Professional Manager
The Five Business Principles Every Manager Must Know
Value: What Customers Pay For
Let's Get Organized
Competitive Advantage: The Winner's Edge
Control Means Never Having to Say You Lost It
Profitability: You Gotta Have It
Remember The Big Five
The Least You Need to Know
The Seven Skills of Management
Proper Planning Prevents Poor Performance
Goal-Setting: Where To?
A Professional Decision-Making Process
Delegate All You Can
Support Your People
Communication: Important Beyond Words
Controlling to Plan
The Least You Need to Know
Anatomy of a Business
The Parts of a Business
Finance Controls the Money
Accounting Counts the Money
Operations Makes What the Company Sells
Marketing Sells to Groups
Sales Brings in the Money
Management Information Keeps Everyone Informed
Support Functions Do the Rest
Putting It All Together: The Org Chart
What About Small Companies?
The Least You Need to Know
Managing People Effectively
What Does Human Resources Do?
Hiring the Right Person for the Job
Advertising the Position
Interviewing Candidates
Checking References
Extending the Offer
Getting New Employees Oriented
Dealing With Problem Employees
Take Performance Appraisals Seriously
When It's Time to Go: Firing an Employee
Ensuring Fairness and Employee Safety
Employee Grievances
Employee Assistance Programs
Job Postings
Promotions, Raises, and Career Advancement
The Least You Need to Know
Managing Yourself on the Job
Beyond Job Knowledge
Time Is Not on Your Side
Quick Time Management
Now Where Did I Put That?
Phone Power
Incoming Calls
Outgoing Calls
Powerful Presentations
Prepare Your Material
Visual Aids
Prepare Yourself
Prepare the Room and Equipment
All About Meetings
The Least You Need to Know
How It All Operates
It's the Economy
Our National Economy: As Easy as C + I + G
What Happened to Gross National Product?
Imports and Exports: Easy Come, Easy Go
Can Exports Move an Economy?
Growth Is Good
GDP: It's All Connected
What Goes Up, Must Come Down
Tracking the Business Cycle
Vicious and Virtuous Cycles
The Government's Role
What Does the Government Want?
The Inflation-Unemployment Trade-Off
Economic Policy
Fiscal Policy: Taxing and Spending
Monetary Policy: Money Makes the World Go 'Round
The Role of the Fed
Moving Rates to Get Things Moving
Buy! Sell!
When the Fed Talks
The Least You Need to Know
Going by the Numbers: Economic Indicators
What Are the Key Indicators?
The Biggest Indicator: Economic Growth Rate
Buying Power: Prices and Inflation
The Cost of Money: Interest Rates
Out of Work: Unemployment
Safety and Security: Consumer Confidence
Settling Down: Housing Starts and Sales
Shop 'Til You Drop: Retail Sales and New Car Sales
Watching Wall Street: The Stock Market
What to Watch for When You Watch
The Least You Need to Know
Getting Down to Business: Operations Management
Managing Your Resources
Cost-Benefit Analysis: What's It Worth?
Too Much of a Good Thing: The Law of Diminishing Returns
Counting Costs: Fixed and Variable Costs
Size Matters: Economies of Scale
Come Together, Go Apart: Centralization and Decentralization
How Much Centralization Is Good?
You'll See These Concepts, If You Look
The Least You Need to Know
Decisions, Decisions: Analytical Tools for Operations
The Manager's Toolbox
Break-Even Analysis
Finding the Break-Even Point
Cross-Over Analysis
Planning and Scheduling Tools
The Critical Path to Project Management
Getting the Picture
Getting PERT
Decision Trees: More Visual Aids
Use as Many as You Can
The Least You Need to Know
All About Money
Meet Your Balance Sheet
Assets, Liabilities, and Owners' Equity: You Need 'Em All
Meet the Balance Sheet
A Sample Balance Sheet
A Tour of the Assets
Marketable Securities
Accounts Receivable and Bad Debt
Property, Plant, and Equipment
Prepayments and Deferred Charges
The Major Liabilities
Accounts Payable
Notes Payable
Accrued Expenses Payable
Federal Income and Other Taxes Payable
Current Portion of Long-Term Debt
Long-Term Debt
Owner's Equity
Preferred Stock
Common Stock
Additional Paid-in Capital
Retained Earnings
The Least You Need to Know
Making a Statement: Income and Cash Flow
Introducing the Income Statement
A Tour Through the Income Statement
Cost of Goods Sold
Gross Income
Selling, General, and Administrative Expense (SGandA)
Depreciation Expense
Operating Income
Other Expenses
Interest Expense
Other Income
Income Before Taxes
Provision for Income Taxes
Net Income (Loss)
Get Insights Into Income
How Are Your Employees Doing?
The Cash Flow Statement
Easy Come, Easy Go: Cash Flow
A Sample Cash Flow Statement
Getting Reconciled
Go With the Cash Flow
The Least You Need to Know
The Big Picture: Financial Analysis
Let's Get Analytical: Financial Ratios
Liquidity Ratios
Working Capital
Current Ratio
Quick Ratio
Accounts Receivable Turnover
Collection Period
Inventory Turnover
Days' Sales on Hand
Solvency Ratios
Debt-to-Equity Ratio
Debt Ratio
Times Interest Earned
Profitability Ratios
Gross Margin
Operating Margin
Net Margin
Asset Turnover
Return on Assets
Return on Investment
Keep Your Pencils--and Eyes--Sharp
The Least You Need to Know
Look at the Books: Accounting Systems
The Major Ledgers
The Double-Entry System
What About the Financial Statements?
The Accountant's Opinion
Accounting Treatment of Assets
Accounting for Inventory
FIFO Effects
LIFO Effects
Which Method Should You Use?
Accounting for Depreciation
Straight-Line Depreciation
Double Declining Balance
Sum of the Years' Digits
Comparing the Three Methods of Depreciation
Matching Depreciation to Productive Life
The Least You Need to Know
Making Investment Decisions
Time Is Money
A Present Value Table
Major Business Investment Decisions
Investment in Plant and Equipment
Acquisition of a Company
GIGO, Once Again
Three Ways to Analyze Investments
Net Present Value
Calculating NPV
Seeing the Time Value of Money
Internal Rate of Return
Figuring the Internal Rate of Return
Payback Period
Pick a Rate, but Not Just Any Rate
Using the Opportunity Cost
Using the Cost of Capital
What's the Cost of Equity?
Calculate the Cost of Capital
Beyond the Numbers
The Lease-Versus-Buy Decision
Crunch Those Numbers With a Spreadsheet
The Least You Need to Know
Budget Basics
What Are Budgets and Why Do You Need Them?
How Budgets Really Work
Sales Budgets and Variance Reports
A Sample Sales Budget and Variance Report
How to Read a Sales Variance Report
Year-Over-Year Variances
Expense Budgets and Variance Reports
How to Read an Expense Variance Report
Cost Control
Radical Surgery
Take Credit Management Seriously
How to Manage Credit Aggressively
The Credit Approval Process
When Things Go Wrong, Collections Gets Tough
Getting Very Serious
Stay on Top of Your Finances
The Least You Need to Know
To Market, to Market, to Sell and Sell Big
Ready, Aim, Sell
Marketing, Sales--What's the Difference?
Commercial Versus Consumer Sales
Marketing Strategy Basics
Sales Tactics, Summarized
Translating Sales Goals Into Marketing Plans
Increase Your Prices
Sell More Existing Products to Current Customers
Sell New Products to Current Customers
Sell Existing Products to New Customers
Sell New Products to New Customers
Product Differentiation
Improved Performance
Improved Appearance
Improved Image
Marketing Basics
Who Drives Your Company?
The Product Adoption Curve
The Product Life Cycle
The Least You Need to Know
Who Are Your Customers, Anyway?
What Is a Market?
Divide and Conquer: Market Segmentation Strategies
Why Do Market Research?
Who Needs Market Research?
The Two Types of Market Research
Creating a Market Research Study
Define Your Goal
Design the Study
Develop the Questionnaire
Dos and Don'ts of Questionnaire Design
Fielding the Questionnaire
Analysis and Presentation of Results
Powerful Presentations Pack a Punch
The Least You Need to Know
The Five Ps of Marketing
The Marketing Mix Made Easy
Product Is Paramount
Pricing Problems
Pricing Strategies
Mix Pricing Strategies
Packaging Presents Your Products
A Proper Place Produces Profits
Promotion Boosts Purchases
Proper Positioning Prevents Poor Performance
The Least You Need to Know
You Can Understand Advertising (and That's a Promise!)
What Is Advertising and What Does It Do?
Components of Advertising
Ad Messages: Say What?
Hot Copy
A Few Words on Copywriting
Money: Your Advertising Budget
Media: Who's Watching?
Consider the Demographics
Other Media Characteristics
Promotional Tools
Public Relations Programs
The Least You Need to Know
Selling to Customers and Keeping Them Happy
Types of Sales
The Sales Process
Prospecting: On the Hunt
Problem-Solving and Presenting: Show and Ask
Persuasion: Overcoming Objections
Organizing a Sales Force
Sales Force Size: When Is Bigger Better?
Sales Force Alignment: Three Choices
Compensating and Motivating Your Sales Force
Supporting a Sales Force
Customer Service
A Few Words on Sales Training
The Least You Need to Know
Product Development: Pioneers at Work
The Value of Cross-Functional Teams
The Product Development Process
Get a Good Idea
Listen to Your Customers
Ask Your Salespeople
Watch Your Competitors
Test the Concept
Design the Prototype and Product
Test the Product
Do a Market Test
Launch the Product
Know When to Stop
Extending Your Line
What About RandD?
Do It Now!
What's New?
The Least You Need to Know
Steering the Business Into the Future
Charting a Course With Strategic Planning
What Is Strategic Planning?
Define the Company's Goals
Define Your Business Broadly
How Will You Know You've Arrived?
Consider the Sales-Growth Strategies
Analyze the Company's Environment
Customers and Prospects
Regulatory and Social Change
Economic Trends
Add It Up
Consider the Company's Resources
Profitability and Growth
People Are the Company
Productive Capacity
Other Resources
Develop Action Steps
Implement the Steps
Strategic Planning Guidelines
Set a Timeframe
Get Everyone Involved
Who Needs a Plan?
The Least You Need to Know
Information Please
Why Information Has Become a Strategic Resource
What Exactly Is the Information Age?
The Intelligence Pyramid
Using Information to Gain Competitive Advantage
Financial Information: Where's the Money?
Marketing Information: What Do Customers Want?
Information Flows
Securing Corporate Knowledge
Exploiting Corporate Knowledge
Apply Corporate Knowledge to New Products
Apply Corporate Knowledge to Your Processes
Use Templates to Stop Reinventing the Wheel
Leverage Your Information
Be Your Own Best Competitor
The Role of MIS
The Least You Need to Know
Mind Your Ps and Qs: Productivity and Quality
What Is Productivity?
Measuring Productivity
Calculating Worker Productivity
Calculating Machine Productivity
More, More! Faster, Faster!
Boosting Employee Skills and Motivation
Paying for Production
What's the Motivation?
Improving Equipment
Give Them Better Methods
What Is Quality Anyway?
Quality Assurance
How to Control Quality
Developing Quality Standards
What About Zero Defects?
What Are Quality Standards?
Applying Quality Standards
Creating a Corporate "Culture of Quality"
Tools for Quality Control
Supplier Programs
Quality Circles
Control Charts
Best Practices and Benchmarking
The Challenge of Global Competition
The Least You Need to Know
Doing Well by Doing Good
Society, Business, and the Law
Business Law
Consumer Protection
Product Liability
Business Organization
Real Estate and Insurance
Intellectual Property
Securities Regulation
Uniform Commercial Code
Rules and Regulations
What Does This Mean to Managers?
About Business Ethics
Hot Legal and Ethical Topics
Do the Right Thing
The Least You Need to Know
Career Management in a Changing World
What Is the Goal of Career Management?
Take Care of Yourself
Plan Ahead and Have a Plan "B"
Know the Environment
Meanwhile, Out in the Real World
Be Promotable--and Employable
Crank Up Your Performance and Gain Visibility
Work Hard
Learn the Business
Project a Positive, Problem-Solving Image
Exhibit Solid Personal Habits
Ways to Increase Your Visibility
The Job Search
Constant Readiness
All-Out Effort
Flexible Approaches
Emotional Supports
Should You Get an MBA?
The Least You Need to Know
Management and Business Organizations
Finance and Accounting
General Management
Human Resources Management
Manufacturing and Operations Management
Marketing and Sales
MIS and Information
Strategic Planning
MBA Lingo