Book Description
CEOs regularly announce ambitious growth targets, then fail to achieve them. The reason? Their growing addiction to bad profits. These corporate steroids boost short-term earnings but alienate customers. They undermine growth by creating legions of detractors—customers who complain loudly about the company and switch to competitors at the earliest opportunity.
Based on extensive research, The Ultimate Question shows how companies can rigorously measure Net Promoter statistics, help managers improve them, and create communities of passionate advocates that stimulate innovation. Vivid stories from leading-edge organizations illustrate the ideas in practice.
Practical and compelling, this is the one book—and the one tool—no growth-minded leader can afford to miss.
Customer Reviews:
Too Good to Be True.......2007-09-13
I gotta admit I was taken in by the book, but the problem comes in when you attempt to link the NPS score to any performance measure. The academics have all but refuted Reicheld's claims. Unfortunately, statistics matter and the best way to measure something with a survey is to use a multiple item, multiple measured scale. However, NPS does have some redeeming qualities, in focusing mangement behind one number. Many academics are recommending that if you must use NPS to use it along with other traditional statistical measures.
A Great Book for Customer Service & Marketing.......2007-08-28
Fred does a very good job at explaining that your best & foremost marketing tool are your employees. His Net Promoter Score (NPS) system he has developed is an innovation for the corporate world and I believe is the way forward.
The book is well documented and gives you step by step infoon how to implement the NPS system within your company.
J C Miller.......2007-07-30
IF you want to truly find out what your customers are thinking about your business this book is a must read. It teaches you how to equate customer satisfaction into tangable profit dollars. It helps effectively use the customer feedback to get your employees delivering service beyond expectation!
It's about time to state the obvious !.......2007-07-19
We can finally begin to realize that the very customers that use our services are the same ones that resent being "surveyed" into oblivion !
Only the very best companies can sustain somewhat correct feedback to begin with. I only wondered how long it would take for business leaders to stop abusing your best customers with long questionaires that may not even be relavant to the shopping experience. This may not be the ultimate destination for determining consumer needs but it is a great start in the right direction and an opportunity to save all the wasted money on self centered and manipulated customer focus groups.
There's A Better Alternative.......2007-07-19
I wish that I could have given this book a higher rating. I loved Mr. Reichheld's impassioned admonition against "bad profits," which he defines as profits made at the expense of customers. I also agree with him that good surveys are short surveys. You might want to buy this book for these two reasons alone. The bold proclamation that he has discovered The Ultimate Question, however, is like proclaiming that the check-engine light is the ultimate dashboard gauge.
Psychometrically, the Net Promoter Score (NPS) is a difference score that is based upon a single-item rating scale, and such scores can be very problematic. Albert M. Wilburn has already pointed out that different distributions of ratings can yield the same NPS, and that these distributions "probably differ in their implications on repurchase behavior." Notwithstanding, in Appendix A, Reichheld provides some evidence the NPS approach can work, and he is honest enough to disclose that it doesn't always work. Between the admonition against "bad profits" and Appendix A, there are a lot of stories.
There is an alternative to the NPS that has a more established track record. In 1994, Bradley T. Gale published Managing Customer Value, which disclosed AT&T's finding that the ratio of the perceived value of a company's products or services to that of its competitors is predictive of changes in market share. Since then, this finding has been reproduced in a variety of contexts worldwide. The methodology that surrounds the perceived-value ratio, Customer Value Analysis, estimates the impacts of the various price and non-price attributes that drive customers' value perceptions. This methodology is best described in Customer Value Management: A Guide for Your Journey to Best-Practice Processes by Khalid Hafiz and Scott Hendricks (Houston: APQC, 2001). Buy this little book either instead of, or along with, The Ultimate Question.
Book Description
John Wood discovered his passion, his greatest success, and his life's work--not at business school or leading Microsoft's charge into Asia in the 1990s--but on a soul-searching trip to the Himalayas. Wood felt trapped between an all-consuming career and a desire to do something lasting and significant. Stressed from the demands of his job, he took a vacation trekking in Nepal because a friend had told him, "If you get high enough in the mountains, you can't hear Steve Ballmer yelling at you anymore."
See how John Wood came to start Room to Read and write Leaving Microsoft to Change the World in this video clip: high bandwidth or low bandwidth |
Instead of being the antidote to the rat race, that trip convinced John Wood to divert the boundless energy he was devoting to Microsoft into a cause that desperately needed to be addressed. While visiting a remote Nepalese school, Wood learned that the students had few books in their library. When he offered to run a book drive to provide the school with books, his idea was met with polite skepticism. After all, no matter how well-intentioned, why would a successful software executive take valuable time out of his life and gather books for an impoverished school?
But John Wood did return to that school and with thousands of books bundled on the back of a yak. And at that moment, Wood made the decision to walk away from Microsoft and create Room to Read-an organization that has donated more than 1.2 million books, established more than 2,600 libraries and 200 schools, and sent 1,700 girls to school on scholarship-ultimately touching the lives of 875,000 children with the lifelong gift of education.
Leaving Microsoft to Change the World chronicles John Wood's struggle to find a meaningful outlet for his managerial talents and entrepreneurial zeal. For every high-achiever who has ever wondered what life might be like giving back, Wood offers a vivid, emotional, and absorbing tale of how to take the lessons learned at a hard-charging company like Microsoft and apply them to one of the world's most pressing problems: the lack of basic literacy.
Book Description
John Wood discovered his passion, his greatest success, and his life's work—not at business school or leading Microsoft's charge into Asia in the 1990s—but on a soul-searching trip to the Himalayas. Wood felt trapped between an all-consuming career and a desire to do something lasting and significant. Stressed from the demands of his job, he took a vacation trekking in Nepal because a friend had told him, "If you get high enough in the mountains, you can't hear Steve Ballmer yelling at you anymore."
Instead of being the antidote to the rat race, that trip convinced John Wood to divert the boundless energy he was devoting to Microsoft into a cause that desperately needed to be addressed. While visiting a remote Nepalese school, Wood learned that the students had few books in their library. When he offered to run a book drive to provide the school with books, his idea was met with polite skepticism. After all, no matter how well-intentioned, why would a successful software executive take valuable time out of his life and gather books for an impoverished school?
But John Wood did return to that school and with thousands of books bundled on the back of a yak. And at that moment, Wood made the decision to walk away from Microsoft and create Room to Read—an organization that has donated more than 1.2 million books, established more than 2,600 libraries and 200 schools, and sent 1,700 girls to school on scholarship—ultimately touching the lives of 875,000 children with the lifelong gift of education.
Leaving Microsoft to Change the World chronicles John Wood's struggle to find a meaningful outlet for his managerial talents and entrepreneurial zeal. For every high-achiever who has ever wondered what life might be like giving back, Wood offers a vivid, emotional, and absorbing tale of how to take the lessons learned at a hard-charging company like Microsoft and apply them to one of the world's most pressing problems: the lack of basic literacy.
Customer Reviews:
John Wood, you inspire me!.......2007-09-07
Reading about John Wood's motivations and personal sacrifices, I found myself re-engergized for the volunteer work I do. This book is not just for business people, but for anyone who wants to make a difference in this crazy, beautiful world we live in. Providing children with books whether on a global scale or locally is one of the best gifts (and investments) a person can make. Bravo John! And thanks for making your adventures accessible to the rest of us.
Life Altering Book.......2007-08-21
I managed to finish this book on a flu episode with a fever that lasted two days. It was a great companion at that horrible time.
Now, i read a lot of books. And over time, i got to quickly notice good books from bad books. And ever more, i get to know great books from "books you buy to balance your shelf" books. I try to buy only good books and strive to get all the great ones. This is one of the great ones.
When first browsing through Amazon(yes, i am a very loyal customer), i noticed the title. And being the geek that i am, i wondered what it would talk about(you have to admit, MS and changing the world do not mix easily). I was afraid it would turn out to be a lame book as many books which carry a similar title are. So i took a gamble and i bought it.
It talks about the story of a man(John Wood, marketing executive working at Microsoft) who took a "no-computers" vacation to Nepal. And this vacation changed his life. He describes his life in detail. The details are typical of a modern young successful man working in a high-tech firm. Basically his life consisted of work, work, work and an almost non-existent social life(or any other kind of life for that matter). He thought he was happy this way, we all do, until we stop and take a good look at what we have accomplished.
In Nepal, he noticed that even though some provinces had schools, there were no books and no libraries. So he started out with a little project of collecting a few books for one particular school in Nepal. This all started with a promise to return to Nepal with books. And the whole idea avalanched into one of the most successful projects. An organization that builds schools/libraries and provides books and scholarships for young girls.
I don't want to give out too many details. The beauty of this story is in the events that took place and their chronological order. So i don't want to spoil it. However, i will talk about why i liked this book so much.
John saw the kids in Nepal. He saw that they were trying to learn, but with very poor resources. He also understood that education is the most important gift that you can bestow on a child. Especially girls, since these girls will grow up with this education in mind and carry this belief over to their children and families. "You educate a girl, you educate an entire generation."
After John returned from Nepal, he tried to get back to his old lifestyle. But he could not. How could he? Everything he will do now will seem so empty. How can he go on working knowing that there are children in the world that are not getting the opportunities that we take for granted. He felt so empty. And even if, according to our standard, he is very successful....his life felt meaningless in light of this issue. Everything he accomplished looked so insignificant.
What is truly remarkable though, is that he ran his organization in the same way he would run a normal business. So unlike the other charities around, he never asked people for money out of pity. So instead of showing children with sad faces and sick people like all charities do, he showed the schools he built and the books that he got and the children making use of all of this. It is his belief that contributers do not give money to charity because they don't know where their money is going. They never see results.
I also believe that any book you read must alter your life in some sense. This book did just that. I learned that you shouldn't listen to all the nay-sayers. I learned that for every 1 idea you come up with, there will be a 100 people telling you how it won't work. I also learned to never give up.
If i would only take away one thing from this book, it would be my current favorite quote(which according to the book is an old Chinese quote)
Those who say it cannot be done should not criticize those who are doing it.
This books is highly recommended with 5/5 stars.
great inspiration along with fantastic advice for those who want to change the world.......2007-08-20
Wood brings a fresh, business-like perspective to the often stale world of not-for-profits. His personal journey from career success, to existential angst, to leaving the rat race to change the world is a true inspiration.
Giving back by giving effectively.......2007-07-06
There are plenty of books about one individual's accomplishments in the march to change the world. This book is different because--along with his passion for education and libraries--John Wood brings a model for transforming that passion into sustainable organizations on the ground. If you are actively involved in a nonprofit organization, you will enjoy John's down to earth advice about focusing on results, fundraising, and having fun while you're doing the hard work.
going from corporate executive to do gooder champion.......2007-06-05
This is a good book to understand risk that is inspired by passion. this guy had everything to lose and so much to gain and he did it. Kudos to him and kudos for a well written book.
Average customer rating:
- Interesting book
- Excellent Hilarious Novel for Learning Management
- fast and cheap
- Solid read applicable to business and beyond
- The Goal
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The Goal
Eliyahu Goldratt
Manufacturer: North River Press
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ASIN: 0884271781 |
Book Description
Over 2 million copies sold! Used by thousands of companies and hundreds of business schools! Required reading for anyone interested in the Theory of Constraints. This book, which introduces the Theory of Constraints, is changing how America does business. The Goal is a gripping, fast-paced business novel about overcoming the barriers to making money. You will learn the fundamentals of identifying and solving the problems created by constraints. From the moment you finish the book you will be able to start successfully addressing chronic productivity and quality problems.
Customer Reviews:
Interesting book.......2007-10-08
Reading a text book has never been so much fun. I read this during my MBA classes. Why won't every author write their book and drive the point home with such fun stories that don't just drive the point home, but also keep it there forever?
Excellent Hilarious Novel for Learning Management.......2007-10-03
"The Goal" is a hilarious novel but with a serious business message particularly with respect to production/operations management. The author expertly wove an intricate story about a plant manager (Alex Rogo) whose factory and marriage are failing into a compelling and convincing explanation about how to deal with constraints and bottlenecks effectively, not only in business but also in everyday life. This is a good captivating read particularly for those who find reading business and management books to be dry and having a soporific effect.
Alex Rogo's life is made very difficult by bottlenecks, constraints, excess inventories and pressure from management that demands efficiency in the factory operations. However, through mastering the theory of constraints (TOC), the appreciation of a business as a system, the effective use of industrial engineering techniques as well as common sense, Alex and his team overcome the problems.
This is an enlightening book that is easy to read and understand for people particularly those who a new to managing an organization. You will learn about the goal of an organization, waste (and how to avoid it), cost structures, team utilization, supply chain bottlenecks, identify improvements, work prioritization and enhance efficiencies.
You will get the most from this book if you also read the Toyota Production System which can fix many of the problems highlighted in this book. Among the highlights of the Toyota Production System are the Just-in-Time inventory system, production leveling, multi-skilling, the pull method of production planning which provides a more comprehensive approach to manufacturing operations. Another useful investment is to get a copy of the classic book "The Fifth Discipline" by Peter Senge (if you have not yet read it). Senge proposes the "systems thinking" method to help companies to become "learning organizations" that integrates all personnel levels and functions (such as production, human resources, finance etc) to increase the ability of the organisation to be more productive and effective.
In summary, this is an outstanding book packed with insightful wisdom that I recommend to employees at all levels in an organization as well as students studying business.
fast and cheap.......2007-09-12
I received this product in good time and condition. Brand New. Saved quite a bit of money over the campus book store price.
Solid read applicable to business and beyond.......2007-07-29
The Goal is a well-written book, broadly applicable to anyone in business and to an extent life in general. It is a no-nonsense novel, utilizing and exploring real-life situations and personalities. What I liked most about the book is the integration of "scientific" approach to business, how assumptions are constantly questioned, explored, and reformulated, and how the human element is, albeit slightly, interwoven.
While the most benefit clearly is in manufacturing context, I find the book to be useful and I work in professional services. I akin the Theory of Constraints ("bottleneck management") to Stephen Covey's example of "moving big rocks", hence the applicability to life in general. Said another way, I believe one must focus on the things that are most constraining (the boundaries), and this method of thought is explored in The Goal. The book also interweaves personal experiences into the "core" business theme, which allows for some examination of life outside of work and of course personalizes the story.
Overall, great book and a suggested read for sure.
The Goal.......2007-06-08
If you told me that a story about cost accounting in a factory would be interesting I would say you are nutts. However this story is extremely will written & entertaining thru the first 80%. The finish concerning philosophy could be left off.
I would listen to the book until I reached the end of a chapter because it was interesting even when I had arrived at my driving distination.
I do have an accounting background so that may affect my opinion.
Book Description
During his fourteen years as Yale's chief investment officer, David F. Swensen has transformed the management of the university's portfolio. Largely by focusing on nonconventional strategies, including a heavy allocation to private equity, Swensen has achieved an annualized return of 16.2 percent, which has propelled Yale's endowment into the top tier of institutional funds. Now, this acknowledged leader of fund managers draws on his experience and deep knowledge of the financial markets to provide a compendium of powerful investment strategies.
Swensen presents an overview of the investment world populated by institutional fund managers, pension fund fiduciaries, investment managers, and trustees of universities, museums, hospitals, and foundations. He offers penetrating insights from his experience managing Yale's endowment, ranging from broad issues of goals and investment philosophy to the strategic and tactical aspects of portfolio management. Swensen's exceptionally readable book addresses critical concepts such as handling risk, selecting investment advisers, and negotiating the opportunities and pitfalls in individual asset classes. Fundamental investment ideas are illustrated by real-world concrete examples, and each chapter contains strategies that any manager can put into action.
At a time when it is becoming increasingly difficult to cope with the relentless challenges provided by today's financial markets, Swensen's book is an indispensable roadmap for creating a successful investment program for every institutional fund manager. Any student of markets will benefit from
Pioneering Portfolio Management.
Customer Reviews:
A Great Investor Pulls Back the Veil on One of the Best Run Endowments.......2007-01-17
Swensen is certainly one of the brightest minds in institutional money management. In a world where there are ten million books on how to pick stocks, trade options, or some other get rich quick scheme, finally a great investor shows the methodology of how significant wealth should be managed. This book is a must read for anyone who manages or invests significant money, even if it isn't institutional assets.
A lot of nothing.......2006-02-07
This book has very little to teach you and it's virtually unreadable. Make sure you read one or two pages before you buy in case you are like me and you can't stand his style.
Great, but Swensen's New Book is Better.......2006-01-19
This book covers the HOW and WHY of diversification. While everyone claims to understand diversification, there have been few individuals or institutions that have actually applied the concepts as well as Swensen.
This book can be a little dry and is geared (in style) more towards institutional investors. His new book "Unconventional Success : A Fundamental Approach to Personal Investment" has all the same lessons but is MUCH MORE readable. Get that book instead: http://www.amazon.com/gp/product/0743228383/
solid primer on institutional money management.......2005-09-15
Swenson's reputation was made by the investment results he has generated, which in turn are based on good insights and steely discipline in managing a portfolio. That said, he could have used an editor on this book. His prose style is almost a mockery of a business presentation - here's what he's going to say, he says it, and then a recap of what he said. Still, his style, with its absolute emphasis on clearly communicating to the reader, is a huge improvement over quasi-academic articles in the Journal of Finance.
Equity bias and diversification - what's new there? Try the new lengths to which Swenson has taken portoflio diversification, and thus he has been able to afford an otherwise unsustainable level of investment in equities. Despite my comments on his style, the chapters on traditional and alternative asset classes can and should be read reptitively. (For fun, simultaeneously flip through _Triumph of the Optimists_, a historical survey of global markets.)
To my mind, the greatest problem fiduciaries seem to have is in staying consistent and disciplined in their approach to markets. While Swenson makes frequent tangential forays into describing the problem and how it manifests, this book on portfolio management would have benefited from a chapter on how to manage an investment team. Clearly stated objectives, consistent application, independence from portfolio managers, individual responsibilities vs. committee consensus, recruiting the right people...there is certainly enough there for a good chapter. The closing chapter on "Investment Process" is a valuable contribution, but it left me wanting to know more.
If you like his institutional book, you will also want to read his book for individual investors, called _Unconventional Success: A Fundamental Approach to Personal Investment_. Swenson shows his flexibility in approach, arguing that individuals should save and invest in ways very different from those he advocates for institutions.
As for _Pioneering Portfolio Management_, buy it, read it, and be a better fiduciary.
Worthwhile addition to your investment library.......2004-12-27
Fine book, it is full of common sense and worth reading. Author covers a variety of topics, from different investment periods of high inflation to stock market bubbles, large cap equities to hedge funds, asset allocation to market timing, active management to passive management...
Book highlights include:
1. Looking beyond mainstream investment opportunities. Benefits awarded to those that travel in illiquid and inefficient segments of the market.
2. Portfolio rebalancing, correlation matrix assumptions, optimizers.
3. Contrarian Investing.
4. Manager performance assessment and biases in index data.
5. Benefits of US Treasuries in a portfolio.
6. Multiple examples of BAD Investment ideas. Panic of 1998. Outlier events.
Neil R. Chelo, CFA
Book Description
The world's most exciting, fastest-growing new market? It's where you least expect it: at the bottom of the pyramid. Collectively, the world's billions of poor people have immense entrepreneurial capabilities and buying power. You can learn how to serve them and help millions of the world's poorest people escape poverty.
It is being done-profitably. Whether you're a business leader or an anti-poverty activist, business guru Prahalad shows why you can't afford to ignore "Bottom of the Pyramid" (BOP) markets.
In the book and accompanying CD videos, Prahalad presents...
Why what you know about BOP markets is wrong A world of surprises-from spending patterns to distribution and marketing
Unlocking the "poverty penalty"
The most enduring contributions your company can make Delivering dignity, empowerment, and choice-not just products
Corporations and BOP entrepreneurs Profiting together from an inclusive new capitalism
"C. K. Prahalad argues that companies must revolutionize how they dobusiness in developing countries if both sides of that economic equation areto prosper. Drawing on a wealth of case studies, his compelling new bookoffers an intriguing blueprint for how to fight poverty with profitability." Bill Gates, Chairman and Chief Software Architect,Microsoft
"The Bottom of the Pyramid belongs at the top of the reading list forbusiness people, academics, and experts pursuing the elusive goal ofsustainable growth in the developing world. C. K. Prahalad writes withuncommon insight about consumer needs in poor societies andopportunities for the private sector to serve important public purposes whileenhancing its own bottom line. If you are looking for fresh thinking aboutemerging markets, your search is ended. This is the book for you." Madeleine K. Albright, Former U.S. Secretary of State
"Prahalad challenges readers to re-evaluate their pre-conceived notionsabout the commercial opportunities in serving the relatively poor nations ofthe world. The Bottom of the Pyramid highlights the way to commercialsuccess and societal improvement--but only if the developed worldreconceives the way it delivers products and services to the developingworld." Christopher Rodrigues, CEO, Visa International
"An important and insightful work showing persuasively how the privatesector can be put at the center of development, not just as a rhetoricalflourish but as a real engine of jobs and services for the poor." Mark Malloch Brown, Administrator, United Nations Development Programme
Customer Reviews:
Saving the World.......2007-10-02
The author loves his TLA's (3 letter acronyms)! I wish someone had told me how technical this book was; those with an MBA will get the most out of it. But I love Prahalad's outlook and creativity. Perhaps with a little advice I can take my ideas and come up with a formal business plan.
Extraordinary claims require extraordinary evidence, and anecdotal evidence is not proof.......2007-06-24
Last year this book became a best seller hit among the developmental community at Washington, D.C., to the point that all bookstores at Metro DC run out of it. With notorious and well publicized praising comments from Madeleine Albright, Bill Gates and the like, I bought it too, but just to discover all the frenzy was undeserved from the viewpoint of poverty eradication.
Undoubtedly Mr. Pralhad's research demonstrates there are plenty of opportunities to do good business among the poor at the BOP (bottom of the pyramid), for them to benefit from the products and services not available now, and for some of them to go out of poverty by becoming entrepreneurs (market penetration is always limited). I agree on these conclusions, as commented extensively by the previous reviewers, and without a doubt this book will become a reference in many Business Schools. But to assert that this strategy will eradicate poverty and bring development is plain sophistry. As Carl Sagan said "Extraordinary claims require extraordinary evidence".
Why sophistry? Regarding the poverty eradication claimed by Mr. Prahalad I will try to highlight some of the main flaws in his rationale and lack of sufficient evidence:
1. Despite the consideration of several cases from around the Third-World, most of the discussion and arguments to build the framework are related to India, excessively. The conditions of the poor in Latin America are quite different, and often, they have better public services available to them. On the other hand, many African countries have worst conditions. So you can not reach valid conclusions based solely on a country with such unique cultural and ethnical conditions. For doing business the cases are fine, especially for India or China because they are such huge markets at the BOP.
2. Wealth creation is hugely overestimated. Poor entrepreneurs and their immediate family will undoubtedly benefit from these new economic activities, but the framework lacks an explanation about how these oases of welcomed capitalism will trickle-down to the rest of their neighbors and poor villages. The implicit assumption is that everybody at the BOP has to become an entrepreneur for this strategy to work, because by just having access to affordable consumer products it seems very unlikely that poverty will be eradicated. The proposed framework is just good for doing business and for the poor to have access to new services and products, but where is the sustainable "fishing industry" for the rest of the poor population? The cases are very unique, islands of excellence, and with limited potential for a population the huge size of the BOT to bail out of poverty in significant numbers.
3. The analysis lacks the historical, cultural, legal and socio-economical background for a given country or region, and this consideration is fundamental for a proper analysis on sustainable development. Even when Mr. Pralhalad correctly identifies lack of education, corruption and the size of the informal sector as barriers for development and doing business, he then oversimplifies a lot on how to overcome these key issues, and again, an isolated Indian case is used as the magic formula to solve the problem through information technology. In fact, at the end of Chapter 6, within the conclusions, he recognizes that the illustrations he provides "are but islands of excellence in a sea of deprivation and helplessness". As the development community knows well, these successful stories are very hard to replicate. In Latin America we have the outstanding cases of Chile, Uruguay and Costa Rica. In Brazil, we have the cases of the Southern states of Santa Catarina, Paraná, São Paulo and Rio Grande do Sul. All of them very developed as compared to their neighbors (in terms of income, education, health, etc.), but despite all efforts, no one has successfully reproduced these islands of excellence at a scale that makes a difference.
4. An example will help to understand how superficial the cases are from a point of view of development and poverty eradication. The Brazilian case of "Casas Bahia" lacks the consideration of the socio-economic environment of the country, especially the case omits to mention key characteristics of the financial and credit markets (for those interested in this particular case from the point of view of business, I recommend you read "Samuel Klein e Casas Bahia: Uma trajetoria de Sucesso", Novo Seculo, 2005, this is a real and really impressive business success story). Mr. Klein successfully, by trusting the poor, built an empire that today is still one of the few option many mid- and low-income families have to buy the first computer for their children going to college in Brazil. But, let's see why the market share for credit cards is only 4%, and why it is not a real threat for Casas Bahia own financial system as stated in the book, as well as why there is not much in here to help eradicat poverty in Brazil. Annual inflation today in Brazil is in the order of 3-4%, and the Brazilian currency, the "Real" have been steadily revaluating against the dollar for the last 3 years. However, interest rates in Brazil are sky-high, a legacy of the hyper-inflation times of twenty years ago. Interest rates for well-known international credit cards are 9-11% per month, which compounded translates to an annual rate close to 180%, regardless of whether you're poor or rich. Today retail chain stores of this type charge around 3% per month, embedded in the price of the consumer products, so the consumer doesn't know up-front the real price. This translates to a compounded rate of 43% per year. Often if you try to pay upfront, there is no discount. So where is the real benefit for the poor? Or are they just getting every day more indebted, and spending money on fat interests that they could have used to buy more or better food or better health services for their kids. I do not see where poverty eradication fits in this case. Obviously Brazil has a problem of lack of real competition in the capitalist sense; even the branches of American Banks doing business in Brazil charge these exorbitant rates. As a reference for the readers, you can buy a 30Gb iPod in Brazil for the "reasonable" amount of US$1,000, payable in 12 installments, and for the high price we also have to thank the federal government high taxes on almost everything. Coming back to the case, as an additional "benefit", you only can make the payments in person at stores of the retail chain, just to make sure the poor are tempted every month and come back for more when they are close to payback that debt. That's why there is a 77% of clients who make reapeat purchases as the book reports. Not surprisingly the case description mentions the criticism "that Casas Bahia simply exploits the poor and charges them exorbitant interest rates", but neglects to present a due explanation of why this is not truth, and simply disregards the cristicism.
5. Finally, Mr. Prahalad is extremely optimistic. At he end of Chapter 6 and in his own words: "I have no doubt that the elimination of poverty and deprivation is possible by 2020". This prophecy speaks by itself about the reliability of the analysis. And again, let's remember that extraordinary claims require extraordinary evidence. All the book presents is anecdotal evidence, which is not proof as any scientist knows, and the framework presented has no predictive power, much less to assert that poverty will end by 2020.
Unquestionably an excellent business book, and a very innovative one, but just for that, business. That's why to me it only deserves 3 stars. On the other hand, not much value-added in there for doing real sustainable development across the board, as the author insinuates and some of the readers think, and certainly not much for real poverty eradication. For that outrageous addition to the book's title I took the other 2 stars. The "Erradicating poverty through profits" part of the book's title should be erased, so the book really deserves the 5 stars most reviewers gave to it (and as the previous reviewer rightly complained, the cases were really awfully edited for the paperback edition, even with repeated sentences). Definitely this book is not recommended if you are serious about new ideas for sustainable development. For a real book on that subject, read the recently publicated "The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It" by Paul Collier, though its scope refers mainly to very poor African countries, it is an example of a serious and proper approach to the problem of eradicating poverty. To understand the complexities of promoting development, you may also read "Making Globalization Work" by Joseph Stiglitz. These two books will clearly ilustrate why "The Fortune at the BOP" is not a book on development, and absolutely, no Nobel Prize is deserved.
Hardcover and tradepaperback are different!!!.......2007-04-13
Here is a note I sent to the editor after buying the tradepaperback version.
Your editorial staff has done something so dumb I am astounded! (Also really $%^& mad.) The hardcover and trade paperback versions of CK Prahalad - The fortune at the bottom of the pyramid, are NOT the same. I assigned readings from this book to my class of 100 students. They went and bought the book and found that the case studies aren't there. On closer investigation I see that you shortened the case studies and renamed the chapters. Unfortunately the editing on the shortening is terrible and I simply can't ask my students to read such badly written material.
You did several things wrong
1) You sell two books with identical titles and covers, which have different content
2) You edited very very badly
3) You did this on an award winning book with high visibility
As far as I can tell there is no way for anyone to figure out that the content is different except in the very rare case that they own both versions.
This is a black mark on the Wharton name. What were you thinking?
-james
at last a pragmatic approach to develpment.......2007-01-09
Prahalad'book "the fortune at the bottom of the pyramid" demonstrates the importance to get the people we are "supposed" to help to get involved. The bottom up approach is in line with William Shaffeerly and David Bornstein books where the people are key to any lasting development. The top down approach a la Jeffrey Sacks are fine for the politicians but did not bring much results after all these years. It is time for a change in approach and the Nobel Price to Dr. M.Yunus is very encouraging.
Magical .......2006-08-29
FBP is an intriguing concept and the model can be scaled up or down in size in all parts of the world. The book serves as a wake up call to businessmen across the world.
Download Description
"Enthusiastic employees outproduce and outperform. They step up to do the impossible. They rally each other in tough times. Most people are enthusiastic when they're hired: hopeful, ready to work hard, eager to contribute. What happens to dampen their enthusiasm? Management, that's what.
The Enthusiastic Employee draws on 30 years of research and experience to show you exactly what managers do wrong¿and what they should do instead.
Drawing on detailed case studies and employee attitude surveys in hundreds of companies, the authors offer research-proven solutions¿not fads, nostrums, or phony shortcuts. Along the way, you'll identify the dollars-and-cents business case for high employee morale, learn exactly what employee morale means, and discover the specific management practices that offer the greatest positive performance impact.
The definitive guide to encouraging, sustaining, and profiting from employee enthusiasm!
- Techniques shown to increase employee performance 30-40%¿and increase stock performance, too!
- Proven solutions, real data, not fads! Based on research with 2,500,000+ employees in 237 companies
- Fairness, achievement, camaraderie: delivering the three core elements of a healthy workplace
- Stop your organization's managers from demotivating your employees
- Build a real partnership culture for the long term
"
Customer Reviews:
Follow It.......2007-07-15
"The Enthusiastic Employee" by Louis Mischkind, Michael Irwin Metzer, and David Sirota is a quality book for employers and employees. From entry-level workers, to lower, mid, and upper-level managers. All parties can benefit by just being aware of the points in this book even if they don't even implement some of or all of the concepts. (Awareness.)
The "Enthusiastic Employee" contains numerous important points. There is quality. But, will these ideas and concepts be followed and implemented? I don't think this question is cynical; in today's world many workers are realistic. The contemporary studies and polling reflect this phenomena.
And herein lies the rub: One of the positive points advocated in this book is that the concepts in it can help increase a company's stock performance, too. Investors will be happy. As for the research, the authors studied 4 million workers in over 89 countries around the world. Domestically, American labor laws are the worst in the industrialized world.
Three styles of management noted are: Autocratic, Laissez-Faire, and Participative. The latter involving communication that is sent and received up and down organizational and communication channels. A two way flow. This is theoretical. Idealistic but not followed for many, and implemented by some. The organizations that implement this according to the book, are listed.
The Window Dressing:
There are 4 parts. The chapters:
Chapter 1: What Workers Want - The Big Picture
Chapter 2: Employee Enthusiasm and Business Success
Chapter 3: Job Security
chapter 4: Compensation
Chapter 5: Respect
Chapter 6: Organization Purpose and Principles
Chapter 7: Job Enablement
Chapter 8: Job Challenge
Chapter 9: Feedback, Recognition, and Reward
Chapter 10 Teamwork
Chapter 11 The Partnership Organization
Chapter 12 Translating Partnership Theory in Partnership Practice
Part IV: Appendices
The quotes in the "Enthusiastic Employee" seem well chosen.
Books such as this can be helpful - if followed. However, the statistical surveys on U.S. management practices and about how employees feel about their jobs shows a distinct dichotomy.
This is a refreshingly optimistic book with positive ideas.
A Real Understanding of People.......2007-01-12
A scholarly but very practical book on how to help the people of a company maximize their performance and contribution. The three writers obviously understand the key motivating elements necessary for superior company results. Following the suggestions will inevitably improve operations.
Many similar concepts to those in the book "In the Best Companies - People Are Everything.
The Enthusiastic Employee: How Companies Profit by Giving Workers What They Want.......2006-11-10
Great book! As a long time manager and executive, I kept saying, yes, yes! Looking at the quantitative research findings validated much of my thinking about people, organizations and leadership.
It helps sort out what is important for leadership of an organization. A great read for anyone in leadership.
I couldn't put it down once I got started.
What Does it Take to Motivate Employees?.......2006-07-04
"The Enthusiastic Employee" was written to extend the knowledge of what works and what doesn't to managers at all levels. What sets this book apart from most management books is the fact that it is based on official research. The authors do not merely present their own ideas on what sound management is all about. They actually back up everything they recommend using years of official research. Case studies and official employee attitude surveys spanning a period of about thirty years form the basis of the advice given in this book. This adds to the book's overall usefulness because it illustrates, in black and white, exactly what employees want in their jobs and what management needs to do in order to facilitate change and improve working conditions and performance.
I manage a few employees and my own experience at management was one of the key reasons why I wanted to read this book. I never considered myself a superior manager. I always assumed I had plenty to learn and this book, with its optimistic title and statistical nature, seemed like a good place to start. I opened the pages and started to read. Much of what I read was common sense but there are a few facts about employee/management relations that surprised me. For example, everyone knows that employees are more motivated to perform when they feel they are being properly compensated for their work but what many managers do not realize is that there is a limit to the added morale and added productivity that a pay raise will bring. If pay is lower than the industry norm, employees will rightfully feel disrespected and this will be reflected in their work performance. But if pay is raised too high, it can lead to a feeling of suspiciousness among employees and it often will not result in enough increase in productivity to justify the extra expense that comes with higher pay. Most of us don't think about this at all. We assume that higher pay will always lead to a more satisfied and more productive workforce.
Other surprises abound in this book and they help to keep it interesting. One thing I did not realize is that the majority of employees like their jobs. Based on official survey data, the majority of employees responded that they either love their job or they at least have good feelings about it. Dissatisfied workers are in the minority and this is probably due to the fact that an unhappy employee usually doesn't last in a particular organization for very long. Those who answered that they don't like their jobs are also the most likely to leave voluntarily or be forced out of an organization, helping to keep the numbers who don't like their occupation at a low level. I was surprised by these findings because I always assumed that the majority of workers do not like what they do for a living. The negative reports you read in newspapers and listen to on television about low employee morale are the primary reason I felt the way I did. The official research presented in this book, however, proves that this is false- the majority of workers have at least an average or better level of job satisfaction.
This book is intended for it to be used as an official blueprint for change and it even includes a management questionnaire at the end of the book that asks some of the key questions regarding employee relations. The answers to these questions are then evaluated so that a management team will then know whether or not the time is right to proceed to the next step and revamp its existing approach to management. Including employees in important decisions, making them feel like they are part of the team, and other changes need to be made in order to bring an organization into the twenty- first century. This book provides the guidance necessary to make these crucial changes. The old, authoritarian approach to management is a thing of the past and managers need to realize that it is time to change and move toward a more employee- centered work environment where everyone is treated like a partner in the success of the company.
The statistical emphasis of this book might make it seem more mechanical in nature and less personal but I think it adds an important component of credibility. So many management books are written each year and most of them are based solely on one person's theories or opinions. The Enthusiastic Employee relies on concrete facts to back its claims, allowing management to see the actual concerns stated directly by employees along with the remedies to the problems employees experience each day. Many pages in this book drive home important points by including the actual complaints or praise that employees stated when asked different questions on official surveys. These examples serve to prove the importance of the key components to sound management and what needs to be done at the management level to make employees more responsive, more enthused, and more satisfied.
To sum up this book, employee enthusiasm and the greater productivity that comes with it can be accomplished by doing one thing: giving employees what they want. Employees are very specific in what they feel are important components in their workplace and while it is unrealistic to think that every desire of every individual employee can be implemented, the bulk of employee needs and wants can be satisfied. The results of moving an organization in an `employee satisfaction' direction are almost always positive, with employees showing up to work motivated and ready to achieve. The necessary steps to reach this goal aren't always easy but it is important to get started quickly and The Enthusiastic Employee is a very helpful guide for achieving these goals. It offers a fresh perspective on management that doesn't rely solely on opinions to back its claims but instead provides official research that shows what employees want in their place of employment and what needs to be done to get there. It is a very useful book for management at all levels.
Why is this great book at ranked at 21,463 in today's Amazon Sales Rank?.......2006-05-28
When I scan through the impressive comments here, I am amazed that this book isn't purchased by everyone who wants to motivate employee performance to the highest levels. The authors refer to it as The Three Factor Theory, but it hasn't been a theory for me since I first learned how to give employees what they want over thirty years ago in the J.C. Penney Company.
In addition to the equity, achievement, and camaraderie factors, I also enjoyed their explanation of why participatory management is far superior to autocratic or laisez faire management styles when it comes to motivating top performance.
With the current focus on the many benefits of employee engagement, I would think this book would a primary source of information for learning how to involve employees in the success of a business or a business team. Does anyone doubt that equity, achievement, and camaraderie should be primary goals for organizational excellence?
It may be a little more academic for some readers, but that's what research is all about. A little dry, but they nailed what will motivate people to perform with energy, excitement, and enthusiasm.
Average customer rating:
- Wonderful book
- Worth the Investment
- Jay: A Man in the Know
- Guerrilla Marketing/Levinson
- If you're a small business owner...
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Guerrilla Marketing: Secrets for Making Big Profits from Your Small Business (Guerrilla Marketing)
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Houghton Mifflin Guerrilla Marketing: Secrets for Making Big Profits from Your Small Business 0395906253 / HOU0395906253 / Guerrilla Marketing: Secrets for Making Big Profits from Your Small BusinessRevised and expanded Third Edition. A valuable resource for any small-business owner. Contains strategies for finding clients, marketing on the Internet, cultivating repeat and referral business, and management lessons in the age of telecommuting. Paperback. 400 pages. 9 x 6 x 1. / Sold As 1 EA / Houghton Mifflin / SKU: HOU0395906253
Customer Reviews:
Wonderful book.......2007-05-12
I had just started my own business and heard about this book on Dave Ramsey's show. I bought the book and found that it had a lot of great ideas about how to reach new customers and ways to keep existing ones.
I highly recommend this book for anyone starting a small business.
Worth the Investment.......2007-04-13
This is an outstanding book and what I consider a must-have for every small business owner.
Jay: A Man in the Know.......2007-02-01
This book is the how-to in marketing. It has something for EVERYONE!
Thanks Jay!
Ja-Naé
Wild Women Entrepreneurs President/Founder
Guerrilla Marketing/Levinson.......2007-01-19
Although I bought this book for a gift and did not read it myself, I received it promptly and in excellent shape. Thanks!
If you're a small business owner..........2007-01-03
If you're a small business owner, you need this book. Real life examples of how to market your company,make it more professional, and to make yourself feel more established in your field. Along with "Guerrilla Marketing for Consultants", written in 2005, you will get into the proper mindset for self-promotion. Be brutally honest, put in some brainstorming hours and commit yourself to succeed. I will refer to both these books yearly to refresh my marketing campaign. (Written in 1998, so Internet and email marketing methods are not discussed in relevant terms).
Book Description
A new framework for helping nonprofit organizations maximize the effectiveness of their boards.
Written by noted consultants and researchers attuned to the needs of practitioners, Governance as Leadership redefines nonprofit governance. It provides a powerful framework for a new covenant between trustees and executives: more macrogovernance in exchange for less micromanagement.
Informed by theories that have transformed the practice of organizational leadership, this book sheds new light on the traditional fiduciary and strategic work of the board and introduces a critical third dimension of effective trusteeship: generative governance. It serves boards as both a resource of fresh approaches to familiar territory and a lucid guide to important new territory, and provides a road map that leads nonprofit trustees and executives to governance as leadership.
Governance as Leadership was developed in collaboration with BoardSource, the premier resource for practical information, tools and best practices, training, and leadership development for board members of nonprofit organizations. Through its highly acclaimed programs and services, BoardSource enables organizations to fulfill their missions by helping build effective nonprofit boards and offering credible support in solving tough problems. For the latest in nonprofit governance, visit www.boardsource.org, or call us at 1-800-883-6262.
Download Description
Larry McMillan's name is virtually synonymous with options. This ""Trader's Hall of Fame"" recipient first shared his perso" "The same critical information top business schools teach
Customer Reviews:
Governance as Leadership.......2005-09-07
I found this book to be a breath of fresh air. It offers a new way of looking at nonprofit boards, in a relatively short, easy to read manner. There is a wealth of information designed to help nonprofit boards of directors become more effective. Unfortunately, existing approaches have been less than successful with most boards. This book identifies the problem as one of purpose rather than performance.
The book identifies three modes that boards of directors can operate in: the traditional fiduciary mode, the strategic mode and the generative mode. The authors emphasize the importance of encouraging board members to engage in generative thinking. Engaging board members in this way makes their work more meaningful and satisfying, while at the same time benefiting the organization through more creative, committed leadership. It suggests signs to look for to identify opportunities for generative thinking.
Another interesting new concept discussed in the book is considering directors as a form of "working capital". This is further broken down into intellectual capital, reputational capital, political capital and social capital. Again, this new framework for looking at what board members have to offer increases the opportunities for them to make meaningful contributions to the organization.
Book Description
The Balanced Scorecard is the leading methodology for implementing performance management systems and improving efficiency. Focusing directly on the public and not-for-profit sectors, this book helps these organizations overcome the unique challenges they face when implementing a Balanced Scorecard.
- Guides government and nonprofit organizations through the implementation of a performance management system using the Balanced Scorecard.
- Authors bring a wealth of implementation knowledge and experience to this book, leading to hands-on, practical guidance and tips to that ensure success.
- Identifies and tackles head-on the serious obstacles unique to the world of government and nonprofits in implementing the balanced scorecard methodology.
- Includes action plans to walk the reader through specific implementation challenges.
Customer Reviews:
Great discussion of what is really a side topic to Balanced Scorecards.......2006-11-10
Balanced Scorecards make lots of sense for the For-Profit world for which they were originally developed. What makes this book so good is that they have concentrated on what makes Non-Profits different and how to conceptualize how the BC works in that arena. The book is well written and easy to understand. It is a must for all non-profit execs.
Church Ministry Aid.......2006-11-10
Very helpful approach in developing a measuring tool for monitoring ministry growth and tracking to Vision.
A book for the 21st century.......2003-09-20
Niven is one of the best authors on BSC. If this administration and communications tool has been hailed as one the best new concepts in the business world, in nonprofit and government administration it can have even more impact. It is a great general introduction, but even seasoned experts will find enlightenment and a great very updated bibliography. Works very well as a textbook for nonprofit management with HBS cases.
Clear, informative and highly implementable advice.......2003-08-24
Although the Balanced Scorecard has taken over performance mangagement thinking in business, its linkages and adaptability to public and non-profit organizations has remained extremely challenging. I currently am resposible for leading planning and strategy development for a large social services provider in Canada. Being a strong proponent of Balanced Scorecard theory, I anxiously waited two months for Paul Niven's latest book to hit the shelves in hope that I could adapt the balanced scorecard approach to evaluate our organization's strategy. Long story short >> Balanced Scorecard for Government and Nonprofit Agencies was an incredible investment, and we are now on the way to better measuring and reporting on our organization's progress with the help of this book's advice, tips and proecess design steps.
Paul Niven's writing style provides a clear and informative description of the balanced scorecard approach to performance planning and measurement - and presents easy-to-follow steps for designing and implementing performance systems to monitor and evaluate the impact of nonprofit and public sector programs. I highly recommend this easy-to-read book to anyone interested in understanding how the world's leading approach to performance measurement and management can be successfully incorporated into your organization.
Good & Practical Book on Balanced Scorecard.......2003-07-07
I've read most of the literature on the Balanced Scorecard and the previous books by Norton & Kaplan and Paul Niven himself. Being a Management Consultant of 15 years, I worked with numerous for-profit and not-for-profit organizations and have the usual skepticism towards theory books. This latest book on Balanced Scorecard was easy-to-read with numerous examples from Balanced Scorecard implementations in public sector. I found the step-by-step approach to be practical and quite down-to-earth with numerous take aways for a reader interested in BSC or a performance management practitioner, like myself. The book rightly touches upon the challenges in the scorecard implementations, and offers valuable advice. If you haven't read any previous books on this subject, you can read this book alone for a good idea on what the Balanced Scorecard is all about, and how you go about its implementation.
Book Description
In the classroom, activity-based costing (ABC) looks like a great way to manage a company's limited resources. But executives who have tried to implement ABC in their organizations on any significant scale have often abandoned the attempt in the face of rising costs and employee irritation. Time-Driven Activity-Based Costing is the solution to the problems associated with large-scale ABC implementation. In this book, Kaplan and Anderson offer a revised model where managers can estimate the resource demands imposed by each transaction, product, or customer, rather than rely on time-consuming and costly employee surveys.
In their new model, Kaplan and Anderson focus on the two parameters managers need to estimate: how much it costs per time unit to supply resources to the business activities (the total overhead expenditure of a department divided by the total number of minutes of employee time available) and how much time it takes to carry out one unit of each kind of activity (as estimated or observed by the manager). Rather than endlessly updating and maintaining ABC data, this book with allow managers to spend their time addressing the deficiencies the model reveals: inefficient processes, unprofitable products and customers, and excess capacity.
Kaplan and Anderson lead the discussion of Time-Driven ABC in the first seven chapters, followed by individual cases studies of actual implementations by Acorn consultants in diverse settings.
Customer Reviews:
Great Service.......2007-05-29
Product purchase acknowldgement was near immediate, billing timely, receipt of product within three days and the exact product ordered received. Excellent.
Time-Driven Activity-Based Costing.......2007-05-13
I finished reading this book by Bob Kaplan - TIME-DRIVEN ACTIVITY-BASED COSTING last week.
Its a great book for folks familiar with the basic concepts and applications of Activity-based Costing/ABC. In a way Kaplan makes an apology to readers of his earlier books and ardent fans of ABC, for making their lives difficult with the practical implementation approaches for ABC, and offers to make up for it by proposing a change to the new approach called Time-driven Activity-based Costing or TDABC. Personally I would have preferred the term "Capacity-driven Activity-based Costing".
Ofcourse one cannot help but be sympathetic to Bob Kaplan. Having interacted with him in the past, I had an opportunity to see at close range the genius of this man and the range of his knowledge. The book is certainly a big leap in our knowledge-base and tools for managing for managing companies better.
Kaplan aso originated another methodology "THE BALANCED SCORECARD" (BSC), several books on the subject, and co-founded another firm to offer servies around it. He is however, no longer associated with the firm in any management capacity, and the firm is financially troubled.
I recommend Kaplan's BSC books wholeheartedly, but if you are looking to implement at your organizations, I would recommend inviting select independent consultants who have more experienced at this, than the one's available at this firm.
Professionals with a serious interest in TDABC could also do well to reach out directly to Bob Kaplan and his new firm (The Acorn Group), and his former students for consulting advise.
TDABC - a very interesting book.......2007-05-12
This book has given me a great insight in an easier way to allocate resources down to costumers and products using Time-driven cost driver rates.
However, I am a bit sceptical about the Capacity Cost rate, which seems to be the key element to this models success... especially the way the authors describes the way to calculate this rate.. But with some methodical procedure behing when implementing the model, it is possible to get good results.... that's my experience
All in all, it is a great book about the fundamentals when wanting to use TDABC in your business.
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