economics-schools
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Classic Parker - Stark/Westlake, But.....
Thank God He's Back!!!
Rob Peter to Pay Parker
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Good, but not memorableI also think that the book is miss-titled. To me "Scam School" would mean that the book should be written more as a manual for scam artists. Not that it should be a real manual, but more like a tongue-in-cheek attitude. In my opinion the book should have been entitled "Scam Busters" (or something along these lines).
Another point to mention is that the book is written as an exam text-book. Each chapter ends with a lesson that summarizes the chapter, and then there is a final exam at the end of the book. I believe that this format is the reason why they decided to call the book "Scam School" (or they put these lessons in because they already entitled the book as such, whatever...). I personally found these lessons and exams annoying and quite honestly I started skipping them after the first couple of chapters. I simply don't know if there is a necessity for them. Why would I want to read a brief synopsis of a chapter that I've just finished reading?
I still think that it is worth your time if you want to read it. There is some sound advice and some good stories. But the book is far from top-ten.
Ya gotta love this baby!
Good, but not great
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A quick walk through the history of Economics.I did not find the language in it frustrating, it just made the book seem like a personal lecture with Robbins (minus the questions) which added to my enjoyment. He stops at Fisher, so if you were hoping for ideas and icons after that, you will be disappointed.
The book is split into five sections. The first deals with those philosophers that preceded the formal study of economics; Plato, Aristotle, Aquinas etc... Very interesting stuff, especially if you aren't familiar with the relationship between the ancients and economics.
The second to the fourth sections deal with famous economists, from Adam Smith to Karl Marx. His treatment of Marx is brief so don't expect anything more than a few pages. While he goes into some length about Adam Smith and the other classical economists.
Finally he lectures on Jevons, Menger and others of the "Marginal Revolution", ending his series of lectures with Fisher.
A good read, I would recommend it to undergraduates in Economics or any one else who is interested in the history of economic ideas.
Lectures
Outstanding summary of economic thought!
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Historical backgrounds of BSC, ABC & EVA
Broad History of Mgmt AccountingIf you are a management accountant this book will put your work into perspective as well as caution you about the pitfalls of doing things the way theu have always been done.
this is a book that revolutionized management accountingIn the 1920's at General Motors they have been experimenting with using variances to measure how well they are doing in their manufacturing. In to the picture is a man named Alfred Sloan, he is one of the most brilliant thinkers in management. With implementing variances GM was able to have a uniform way to impose standards to its managers. With this system, GM's growth became remunerative.
Then there came a period as the authors put it when relevance was lost. Financial accounting accounted for the bulk of the innovations in accounting leaving behind management accounting. This is like the "dark ages" of cost accounting when companies and academics did not innovate methods and processes to advance management accounting. There were a number of reasons for this, first is the requirement imposed in companies to generate financial statements for the stakeholders of the companies. Second, the cost of putting together the necessary information was prohibitive. Technology has not yet grown mature enough to allow managers to go through the trouble of compiling the information needed to make the decisions.
The beauty of this book is that it traces beginnings of topics that are familiar to us now. Topics like variances, discounted cash flow analysis, return on investment, sunk cost, and even just-in-time inventory systems. The next evolution of management accounting is to be led by academicians according to the authors. In this stage of the life of management accounting arose discounted cash flow analysis. This is a step ahead of the return on investment method. This is also a time when economist started to innovate management accounting further. The concept of sunk cost is introduced by economist in the London School of Economics. Innovations also arose by way of the field of operations research. Operations research deals primarily of mathematics. And about this time management accounting was taking hold as a discipline of its own. Along with discounted cash flow analysis, opportunity cost is introduces as well as agency theory and residual income. Residual income is interesting in that it was a step backward in the innovations of theories. Even though, GM started using this instead of the return-on-investment measure. The driving force of this period of the growth of management accounting is the need to have better decision making. This is why economics along with operations research contributed to the growth of management accounting.
Next up, management accounting in its evolved form before 1980 falls short. Management accountants make a couple of theoretical mistakes. They are no longer providing managers of the critical information needed to make decisions. Management accounting has become obsolete in a sense. The next development is what happened after 1980. Because of bitter and growing competition because of global forces and deregulation there needed to be more changes. In this period arose what is now called total quality management, and its progeny just-in-time systems. Manufacturers needed to control their work-in-process inventory. Meaning the Japanese where beating Americans by having zero inventory. This led to changes in management accounting systems throughout the United States.

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Your rivals can be toppled by their own commitmentsOn reflection, I believe the strength of their book is the judicious use of the judo metaphor. Metaphors are powerful when they get us to see familiar opportunities or threats in new ways. That is exactly what this book did for me. Moreover, the judo metaphor helped me to remember easily all the nuances of their three core principles--movement, balance, and leverage--so that I could apply them to the business situations I deal with in my everyday life. This book describes a competitive insight supported by an apt metaphor--not a metaphor accompanied by numerous business examples.
Yoffie & Kwak describe a battle plan for stealing advantage from the dominant player in an industry. Their advice for winning is not to be better, but to be smarter. I think their principles apply in any situation where the market leader has made explicit, valuable, often irreversible, commitments to the market place--to its customers, to its suppliers, to its employees, or to its alliance partners--in order to achieve its position. The strength of the leader's market position derives from these commitments. The authors recommend that we study these commitments and then use them against our rivals in order to gain competitive advantage for ourselves. The book guides one through numerous techniques for doing exactly this.
Even though their examples are largely high-tech companies, this principle is as applicable to the steel industry as it is to biotech. I appreciated, though, their numerous applications of the often very clever techniques used by the high-tech companies cited in the book. Once I saw how the principles worked in these more challenging, and sometimes, more subtle situations, I was able to extend the principles myself to other industries and to make them part of my own strategy toolkit.
Judo Strategy is one of the best strategy books I've read in the past year.
Highly recommendedAs well as short examples from Intuit, eBay, Schwab, etc. that are used to explain the three principles, the book includes indepth studies of three companies that have been successful at judo strategy (Palm, Real Networks, and CNET). These chapters are a "must read" for anyone interested in the new economy. A great deal has been written about all three companies (especially Palm), but here the analysis and details, often culled from interviews, are first-rate.
The last section of the book deals with sumo strategy, which is the counterpart to judo for large companies such as Microsoft and Intel. Smaller companies will find few direct lessons here, but reading about sumo strategy is a good wake-up call for anyone who thought that competing with giants might be easy.
One of the best business book
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Very helpful but . . .
True prosperity; The Expression Of The Within.Emphasis is given on what attitudes, beliefs and techniques will bring about prosperity. Sound advice is given on the nature of life from the christian perspective, the importance of placing oneself in the flow of life where giving is more important than getting and the importance of the grateful heart in the recognition of the source of supply.
A good book that could be better. Some points are underdeveloped and that is a lapse in a book that is so opposite to the materialistic world view that supply is in the economy whereas the author's message is that it is within you.
An easy book to read containing thoughts to make you think. No difficult economics. Makes a lot of sense.
I just replaced my loaned out copy....I've read my share of prosperity books, and this one is at the top of my list with Howard Caesar's audio book, "All About Prosperity".
If you're looking for some get rich quick type book, well this isn't it. I imagine that's one reason why he gave it the name he did, instead of emphasizing prosperity in the title. It's about changing your thinking about finances, health, relationships, all facets of prosperity. If you believe that changing your thinking will change your life, that we can control our thoughts and by doing so improve our over all circumstances, you'll find this book extremely helpful. Eric Butterworth comes from a very spiritual, and yet very practical level. He challenges many ideas that you might have studied in other prosperity books. Without naming her, he does challenge some of the prosperity techniques taught by Catherine Ponders and others. This is not to say that you should read him instead of her. To completely understand prosperity thinking, you should read both perspectives and then be guided by those principles that seem right to you. If you are open to a new perspective, and not bound by a fixed and rigid mind, you will find a lot of helpful material here.

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Does not cover basic cocepts from an MBA programI recommend "the complete idiot's guide to MBA basics." That book covers more of the calculations that one learns during an MBA program.
Another thing to note: the above-mentioned books should only be used as a quick reference book. If you really need to understand a concept, then you need to find a subject matter book for that topic. For example, there is no way to truly understand the 5 p's of marketing by reading 3 to 5 pages. You need to grab a marketing textbook and read couple of chapters that cover the 5 p's of marketing. Then, you can use "idiots" or "dummies" books as a reference guide.
SmallBizBargains.com gives it a moderate thumbs up.
Great business resource - One of the best!If it's covered in a typical MBA program, you'll find the topic you're looking for here: dealing with change, information technology, global business, strategic planning, management, leadership, motivating employees, recruiting and retaining high quality employees, building teams, accounting, finance, marketing, negotiation and much, much more. Lots more interesting (and up to date) than any textbook you'd ever buy in an MBA program, and far less cost. This book packs a heck of a bang for the 16 or 17 bucks you'll pay to buy it.
Highly recommended.

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Misses the mark
THE HIDDEN BENEFITS OF LOYALTYThe main rules Reichfeld sticks to and calls the "high road" are the following:
1. Focus on win/win solutions with partners
2. Focus only on clients which you can serve well
3. Focus on simplicity to allow everyone to understand the rules
4. Develop a set of principles and live by them, rewarding others who act according to those principles.
Overall, he makes a strong case to show how these principles can have a positive effect on business. By having low turnover, a fast food restaurant spends very little on HR expenses. By focusing on the bikes their customers love (and not diversifying), Harley gains lifelong customers.
The weakenesses of the book lie in the overemphasis of loyalty, in relation to other important tasks in business. Of course, being a book on loyalty, one could not expect anything different. Additionally, it would have eben useful to have some fake types of loyalty as example of weak attempts at loyalty. I am sure certain companies must have tried to gain loyalty through not-so-smart measures, so it would be nice to haev examples in order to differentiate them.
Overall, it is a very interesting book, useful to anyone involved in customer related businesses and in managing employee relationships. It is short (a benefit) and a bit too concise (a drawback), so it should not take more than a week to read for a regular reader.
More inspirational than nuts-and-bolts informationThe person most responsible for this turnaround is Frederick Reichheld, who published the seminal work, "TheLoyalty Effect: The Hidden Force Behind Growth, Profits and Lasting Value," in 1996. Based on studies at Bain & Co., Reichheld determined that loyalty is the primary driver of profitability. The studies found that an increase in customer retention rates of just 5% increases profits by 25%-95%. The right customers, employees and investors who stay with a firm fuel a virtuous cycle of long-term growth that increases profitability,empowers the brand and cuts marketing costs.
"Loyalty Rules!" picks up on the same themes addressed in "Loyalty Effect." It's impossible to generate superior long-term profits without superior customer loyalty. The right measurements and rewards are critical to achieving the right results. The book illustrates how loyalty has made such organizations as Harley-Davidson, Enterprise Rent-A-Car, The Vanguard Group, Southwest Airlines, Northwestern Mutual, Chick-fil-a, and others so successful.
Such success, says Reichheld, results from the emphasis corporate leaders place on six loyalty principles:
o play to win/win
o be picky (membership is a privilege)
o keep it simple
o reward the right results
o listen hard
o talk straight, and preach what you practice
The "Loyalty Effect" was a primer on how to build loyalty. Numerous charts, graphs and even formulas illustrated the cause-and-effect relationships between loyalty and value creation. While "Loyalty Effect" sought to teach and persuade, "Loyalty Rules!" aims to inspire. Organizations should always take the high road. Vanguard employees are "proud to be part of the most ethical organization in the industry." Reichheld approvingly quotes Cisco CEO John Chambers: "Never do anything to competitors that you wouldn't want them to do to you." He encourages leaders "to assume the pulpit and preach about the values at the core of your life and your relationships."
Inspirational stories and advice are balanced by "action checklists" at the end of each chapter. These include specific tips to achieve loyalty, such as "create a golden rule for your firm," "make recruiting an executive priority," "create a customer experience council," and "turn call centers and help desks into strategic listening posts."
Reichheld concludes with a "Loyalty Acid Test." These are sample questionnaires for customers and employees that can diagnose the health of relationships.
Other excellent books on the same topic are Customer Equity: Building and Managing Relationships as Valuable Assets by Blattberg, Getz and Thomas. Also highly recommended is FusionBranding: How to Forge Your Brand for the Future by customer loyalty consultant Nick Wreden, who looks at how to apply customer equity and accountability to branding

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Detailed information that you really needMake a distinction between the RANKINGS and the extended essay-type descriptions contained on the top scools. The RANKINGS tell you (possibly) two things: they tell you (maybe, sometimes) about the quality of the results the graduates get, and they tell you....well they tell you whether you will get bragging rights to your friends. In other words, the rankings have developed their own prestige which is SEPARATE from the issue of whether they have anything to do with quality.
So consider the rankings with caution...do you need the reassurance of a very high ranking....or do you really care about quality of program? This book actually tells you a great deal about the quality of the program, including everything from details about the curriculum, what they are looking for in admissions, which teachers are held in highest esteem, and general comments from recent students. THIS IS MORE IMPORTANT THAN THE NUMBER. It's related to the number, but it's not the same thing.
Remember, however, not to stop with this book: the information given in any edition will start to get inaccurate before it hits the bookstore. I can think of 5 or 6 top schools with new deans within the past year or two. Perusing through the book I see a good number of "top faculty" that either have already gone on to another institution, or are non-tenured faculty on short-term contracts, who may be gone by the time you get there. Even the curricula change pretty quickly. Back up your reading of this book with school's web sites, visits, talks with alumns, etc.
After all, the question you really want the answer to is not "do grads of School W make more money and have better careers than graduates of School Y?", it's "Will I MYSELF have a better career at School W than School Y." Rather than worry about the ranking of the school you get into, find the school that works for YOU. Finally, I see other reviewers saying "this book got me into the BigBucks school." I think that reviewer's intelligence, personality, and experience got him in. If he hadn't gotten in to BigBucks, he would still be smart and hardworking, and the school that got him would have been lucky. And (for the record), the number at our school is just great!
Excellent book for those beginning the application processBusinessWeek provides a good overview and some keen insight into the top 25 MBA programs as well as the 25 runner up programs. The guide also contains good information on its b-school ranking process. A word of caution though. This book does not contain highly detailed information on the profiled schools and if you do decide to apply to any of these schools, you will want to conduct some additional research for your "Why I want to attend your business school" essay.
The Best Book on the Market!
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A lot of talk ... no substance
A quick, fun and informative read!
Very useful to MBA hopefulsIf you're still deciding whether or not an MBA is right for you, this book will be a great resourse in helping you decide.
I found Comeback to be a bit disappointing, however - it was too easy a read. Amazon so helpfully shows the books dimensions (slightly larger than your typical paperback) and it's page count (304), but when it arrived and I opened it, I was dismayed to see that the book had huge margins and very generous line spacing - I had to doubletake and be sure I had not ordered the "large print" version!
Overall, a good story, there just wasn't quite as much of it as I had expected.