Saturday, December 5, 2009

Next Level or Why Smart People Make Big Money Mistakes and How to Correct Them

Next Level: What Insiders Know About Executive Success

Author: Scott Eblin

Much as Good to Great described what separates top companies from the rest, The Next Level shows new, current, and future executives what differentiates success and failure at the executive level. Every day, high performers are tapped to be executives and then left alone to figure out how to function successfully in their new role. When this happens, most new executives rely on strengths that served them well earlier in their careers. As executive coach Scott Eblin explains, this is why 40 percent of them fail. Moving successfully to the executive level requires knowing which behaviors and beliefs to drop, as well as which new ones to pick up. Like having a personal executive coach, this confidence-building book outlines a program for success for new and future executives and offers frank advice from accomplished senior executives on what to do and to avoid.

Soundview Executive Book Summaries

Advice for the Budding CEO From Fellow Insiders
Every executive had to start somewhere—that first big promotion that bumped them to senior management. The great ones knew what to bring with them to their new position and what to leave behind. This is the premise of The Next Level: What Insiders Know About Executive Success by Scott Eblin, who describes himself as a "former Fortune 500 HR executive."

The book is divided into three main sections. The Foundations of Personal Presence covers topics such as maintaining confidence, sustaining your energy level and communicating effectively. The Foundations of Team Presence looks at effective delegation and issues of accountability. The Foundations of Organizational Presence offers advice on maintaining the proper perspective and presence within the organization.

All That You Should Leave Behind
Each of the three sections is further broken down into lessons presented according to what you should "pick up" and what you should "let go."

One chapter, for instance, advocates that the reader "pick up looking left and right as you lead" and "let go of looking primarily up and down as you lead." The goal, according to the author, is to create relationships with your peers and avoid what he refers to as "vertical tunnel vision," the tendency to only pay attention to what those above you and below you are doing.

Another chapter recommends that one "pick up defining what to do" and "let go of telling how to do it." This can be a particularly tall order for most managers. After all, promotions are generally given to people who excel at what they do. It can be tempting, therefore, to view your methods as the best and/or only way to accomplish a task. Eblin suggests, however, that the best leaders guide their employees by establishing clear and firm guidelines, then allowing them to do the work their own way.

Each chapter ends with 10 tips for putting Eblin's advice into play. The tips range from practical observations to sage mantras. "Avoid the unintended consequences that stem from 'thinking out loud' in front of subordinates," the author advises at the end of his chapter on taking a "big footprint view" of your role. The chapter on accountability includes the tip, "Learn to derive satisfaction from the fact that the work got done, not that you did it."

The Right Tools for the Right Job
Perhaps the most useful tools, however, are the two appendices included at the end of the book. The first is a guide to creating an Executive Success Plan or "ESP." Eblin recommends the plan be used with the help of an "executive coach," but provides clear instructions for those who want to do it themselves.

He lists the principles discussed in the book and encourages readers to seek input from colleagues about how they fare in each area. Readers are then advised to analyze the results, identify areas for improvement and seek ongoing advice from the "feedback team."

Appendix B is the Situation Solutions Guide. This table contains various dilemmas common among those navigating new positions referenced against the corresponding chapter containing the appropriate advice.

Overall, Eblin's book provides the advice that no one ever thinks to give you on taking the leap to the next level. And it's good advice, from experienced executives, that's useable today.

Why We Like This Book
The Next Level is full of practical advice that is clearly stated. It is designed to be referred to repeatedly, and Eblin's use of lists and tables helps to ensure that the reader can quickly find the answers they are looking for. This book is excellent for individuals looking to make it to the next level, as well as executive coaches that want to use it as a reference tool with clients. Copyright © 2006 Soundview Executive Book Summaries



Interesting textbook: Yoga or Its Not All in Your Head

Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons From the New Science of Behavioral Economics

Author: Gary Belsky

Why do so many otherwise smart people make foolish financial choices? Why do investors sell stocks just before they skyrocket -- and cling to others as they plummer? Why do shoppers overspend when using credit cards rather than cash? What do our habits of tipping or buying lottery tickets indicate about our relationship with money?

In this fascinating investigation of the ways we spend, invest, save, borrow, and waste money, Gary Belsky and Thomas Gilovich reveal the psychological causes -- the patterns of thinking and decision making -- of irrational behavior. Most important, they focus on the decisions we make every day and, using entertaining examples, provide invaluable tips on avoiding the financial faux pas that can cost thousands of dollars each year.



Friday, December 4, 2009

Fundamentals of Financial Management or The Toyota Way

Fundamentals of Financial Management (with Thomson ONE - Business School Ed

Author: Eugene F Brigham

"Brigham/Houston: A Classic, redefined...because a classic never goes out of style." The market leader, Brigham/Houston, continues to grow in reputation and amount of users as the most effective approach for teaching the first undergraduate corporate finance course. The seamless, integrated ancillary package, still painstakingly prepared by the authors, is a hallmark of the Brigham/Houston package which reduces course preparation time for instructors and makes the subject more accessible for learners. New for this edition is the addition of iLrn Finance, an online student assessment and tutorial resource to help improve student performance. Additionally, access to Thomson ONE - Business School Edition, an online financial database that students can use to complete projects or select end of chapter exercises, is included with each new text.



Table of Contents:
PART 1: INTRODUCTION TO FINANCIAL MANAGEMENT. 1. An Overview of Financial Management. PART 2: FUNDAMENTAL CONCEPTS IN FINANCIAL MANAGEMENT. 2. Time Value of Money. 3. Financial Statements, Cash Flow, and Taxes. 4. Analysis of Financial Statements. 5. Financial Markets and Institutions. PART 3: FINANCIAL ASSETS. 6. Interest Rates. 7. Bonds and Their Valuation. 8. Risk and Rates of Return. 9. Stocks and Their Valuation. PART 4: INVESTING IN LONG-TERM ASSETS: CAPITAL BUDGETING. 10. The Cost of Capital. 11. The Basics of Capital Budgeting. 12. Cash Flow Estimation and Risk Analysis. 13. Other Topics in Capital Budgeting. PART 5: CAPITAL STRUCTURE AND DIVIDEND POLICY. 14. Capital Structure and Leverage. 15. Distributions to Shareholders: Dividends and Share Repurchases. PART 6: WORKING CAPITAL AND FINANCIAL PLANNING. 16. Working Capital Management. 17. Financial Planning and Forecasting. PART 7: SPECIAL TOPICS IN FINANCIAL MANAGEMENT. 18. Derivatives and Risk Management. 19. Multinational Financial Management. 20. Hybrid Financing: Preferred Stock, Leasing, Warrants, and Convertibles. 21. Mergers and Acquisitions.

Books about: Den Of Thieves or New American Militarism

The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer

Author: Jeffrey K Liker

This is the first book that explains business philosophy behind Toyota's success.



Thursday, December 3, 2009

Successful Business Plan or Brag

Successful Business Plan: Secrets and Strategies

Author: Rhonda M Abrams

Forbes calls The Successful Business Plan one of the best books for small businesses. This new edition offers advice on developing business plans that will succeed in today's business climate. Includes up-to-date information on what's being funded now.



New interesting book: Best Bites Recipes or Profitable Menu Planning

Brag!: The Art of Tooting Your Own Horn Without Blowing It

Author: Peggy Klaus

In today's competitive business world, bragging is a necessity -- not a choice! Remaining quiet about yourself or, worse, downplaying your successes leads to being underappreciated, or even allowing others to take credit for your achievements. When done with grace and style, bragging promotes your best asset -- you! Now a top business coach teaches you to artfully communicate your talents and accomplishments without feeling or sounding like a walking billboard. You'll gain the motivation and skills that lead to gem assignments, raises, promotions, and stronger professional relationships. And you'll enjoy tooting your own horn in a way that is sincere, feels comfortable, and doesn't turn off those you're trying to impress. Filled with self-promotion dilemmas and solutions for both your professional and personal life, and written for everyone from telecommuters to those who are between jobs, BRAG! shows you how to put your best foot forward -- while keeping it out of your mouth!

Publishers Weekly

"Using the same techniques that have turned thousands of professionals and executives into skillful self-promoters," Klaus, a Fortune 500 communication consultant, teaches how to make an impact in today's unstable business market by becoming "a master of artful bragging." Klaus's persuasive writing style and authentic tone combined with real-life anecdotes culled from her 10 years conducting training seminars show off the transformative effect successful bragging can have on a career (including the author's own), while deflating any fears readers may have of coming off as phony, arrogant or obnoxious. Creating a "bragalogue"(or short, enthusiastic, continually updated story showcasing strengths and accomplishments) that you can deliver comfortably and sincerely is key to "planting seeds for the future" or standing out in interviews, performance reviews or networking situations. Sample conversations, self-evaluation surveys, advice on avoiding common bragging pitfalls, hints on body language and concrete tips for stay-at-home moms, freelancers, retirees and recent college grads lend a hands-on feel to this valuable business primer. (May) Copyright 2003 Reed Business Information.



Table of Contents:
Introduction: Lessons from My Father and Hollywoodxiii
Chapter 1Bragging Myths We Live and Die By1
Chapter 2What's So Good About You?20
Chapter 3The Business of Bragging In and Out of the Office48
Chapter 4Techno-Brag: Tooting in the 21st Century66
Chapter 5Job Interviews: Bragging Your Way In the Door86
Chapter 6Performance Reviews: The Good, the Bad, and the Ugly107
Chapter 7When You Don't Have a "Real" Job124
Chapter 8When You're Out on Your Own143
Chapter 9Brag Nags163
Chapter 10A Confession and Twelve Tooting Tips190

Wednesday, December 2, 2009

The Craftsman or Value Investing

The Craftsman

Author: Richard Sennett

Defining craftsmanship far more broadly than “skilled manual labor,” Richard Sennett maintains that the computer programmer, the doctor, the artist, and even the parent and citizen engage in a craftsman’s work. Craftsmanship names the basic human impulse to do a job well for its own sake, says the author, and good craftsmanship involves developing skills and focusing on the work rather than ourselves. In this thought-provoking book, one of our most distinguished public intellectuals explores the work of craftsmen past and present, identifies deep connections between material consciousness and ethical values, and challenges received ideas about what constitutes good work in today’s world.

 

The Craftsman engages the many dimensions of skill—from the technical demands to the obsessive energy required to do good work. Craftsmanship leads Sennett across time and space, from ancient Roman brickmakers to Renaissance goldsmiths to the printing presses of Enlightenment Paris and the factories of industrial London; in the modern world he explores what experiences of good work are shared by computer programmers, nurses and doctors, musicians, glassblowers, and cooks. Unique in the scope of his thinking, Sennett expands previous notions of crafts and craftsmen and apprises us of the surprising extent to which we can learn about ourselves through the labor of making physical things.

The New York Times - Lewis Hyde

Richard Sennett's "guiding intuition" in The Craftsman is that "making is thinking"…Sennett's book gathers case after case in which we see how the work of the hand can inform the work of the mind. Moreover, it is through his insistence that thought arises in relation to craft that Sennett comes to one of his more intriguing interventions, a reimagining of the Enlightenment in terms not of ideas but of how craftsmen learned to work. "The hand is the window on to the mind," Immanuel Kant wrote, and Sennett asks that we not pass through that window until we have adequately studied the hand.



Books about: Miles to Go or The Snowy Day

Value Investing: From Graham to Buffett and Beyond

Author: Bruce C N Greenwald

From the "guru to Wall Street's gurus" comes the fundamental techniques of value investing and their applications Bruce Greenwald is one of the leading authorities on value investing. Some of the savviest people on Wall Street have taken his Columbia Business School executive education course on the subject. Now this dynamic and popular teacher, with some colleagues, reveals the fundamental principles of value investing, the one investment technique that has proven itself consistently over time. After covering general techniques of value investing, the book proceeds to illustrate their applications through profiles of Warren Buffett, Michael Price, Mario Gabellio, and other successful value investors. A number of case studies highlight the techniques in practice.
Bruce C. N. Greenwald (New York, NY) is the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University. Judd Kahn, PhD (New York, NY), is a member of Morningside Value Investors. Paul D. Sonkin (New York, NY) is the investment manager of the Hummingbird Value Fund. Michael van Biema (New York, NY) is an Assistant Professor at the Graduate School of Business, Columbia University.

BusinessWeek - Robert Barker

Individual investors in the Internet Age are blessed with information. We also are cursed with too much of the stuff, from real-time quotes to streaming videos of fund managers. This info-clutter extends to books, and cutting through it can be difficult, even dispiriting, when you see how little thought goes into so many books. That's why I've spent part of the summer doing it for you. And the new title most deserving of your time is Value Investing: From Graham to Buffett and Beyond. Its authors, Columbia Business School faculty members Bruce C.N. Greenwald and Michael Van Biema and fund managers Paul D. Sonkin and Judd Kahn, aim to place their work next to Benjamin Graham's 1950 classic, The Intelligent Investor. My 1986 edition came with Warren Buffett's endorsement—"by far the best book on investing ever written." Value Investing is better.

San Jose Mercury News - David A. Sylvester

No one can doubt there's an urgent need to think clearly about investing, since many investors in Silicon Valley companies have suffered a stock market decline comparable to the Crash of '29. The burned investor could find no better starting place than this superb book by four New York City value investors, all descended from the master of value investing, Benjamin Graham.... They have written one of the most intelligent overviews of investing I've ever read, combining analytical rigor with intuitive description.

SmartMoney Magazine - Paul Sturm

Greenwald is a conventional economist (Ph.D. from MIT who caught the value bug. He has updated and expanded Graham's ideas, and his summer seminars ($2,900 for two days have become popular with everyone from well-known money managers to Columbia MBAs who couldn't get into Greenwald's class. But now there is a cheaper way to learn from Greenwald: He and three colleagues have just published "Value Investing: From Graham to Buffett and Beyond." Greenwald probably won't outsell Graham, but I think he ought to.

Booknews

Leading authorities on value investing reveal principles that have made value investing one of the most consistently profitable investment techniques. They explore the history of value investing, explain its underlying principles, and offer guidelines for its successful application. They tell where to look for underpriced securities and how to determine the intrinsic value of a stock, and describe alternative methods for constructing a portfolio that controls risk without restricting investment returns. They detail techniques of the most successful value investors of the 20th century, and show how to adapt techniques to new investment climates. Annotation c. Book News, Inc., Portland, OR (booknews.com)



Table of Contents:
Preface to the Paperback Editionix
Preface to the First Editionxv
Part IAn Introduction to Value Investing
1Value Investing: Definitions, Distinctions, Results, Risks, and Principles3
2Searching for Value: Fish Where the Fish Are17
Part IIThree Sources of Value
3Valuation in Principle, Valuation in Practice31
AppendixThe Present Value of Future Cash Flows48
4Valuing the Assets: From Book Value to Reproduction Costs51
5Earnings Power Value: Assets Plus Franchise71
AppendixThe Value of Brands--Less than Meets the Eye?86
6A Wonderful Little Franchise: The Earnings Power of WD-4089
7Inside Intel: The Value of Growth within the Franchise107
AppendixValuation Algebra: Return on Capital, Cost of Capital, and Growth138
8Constructing the Portfolio: Risk, Diversification, and Default Strategies147
Part IIIValue Investing in Practice: Profiles of Eight Value Investors
9Warren Buffett: Investing Is Allocating Capital161
10Mario Gabelli: Discovering and Unlocking the Private Market Value197
11Glenn Greenberg: Investigate, Concentrate, and--Watch That Basket211
12Robert H. Heilbrunn: Investing in Investors225
13Seth Klarman: Distressed Sellers, Absent Buyers231
14Michael Price: Discipline, Patience, Focus, and Power245
15Walter and Edwin Schloss: Keep It Simple, and Cheap263
16Paul D. Sonkin: Small Is Beautiful, Especially When It's Ugly277
References293
Acknowledgments296
Index297