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The Complete Idiot's Guide to MBA Basics, 3rd Edition

Book Description

This is the time to expand your career opportunities - and the knowledge in here can be the key.

This third edition compresses the most significant skills and lessons of a two year MBA into one comprehensive guide. With clear, concise information, expert Tom Gorman includes recent developments in management, economics, marketing, leadership, information technology, and communications. Whether the reader is studying to achieve an advanced degree or needs the concrete, practical skills required in the business world, this guide is the most current and comprehensive available.

? Practical guide to the most significant issues facing business professionals today.

? A suitable study tool for all graduate students as well as those trying to expand their skills and knowledge in their careers.

Table of Contents

  1. Title Page
  2. Copyright Page
  3. Introduction
  4. Acknowledgements
  5. Part 1 - Managing People
    1. Chapter 1 - The Meaning of Management
      1. What Makes a Good Manager?
      2. The Professional Manager
      3. The Six Business Principles Every Manager Must Know
      4. Remember the Essential Six
    2. Chapter 2 - The Seven Skills of Management
      1. Proper Planning Prevents Poor Performance
      2. Goal Setting: Where To?
      3. A Professional Decision-Making Process
      4. Delegate All You Can
      5. Support Your People
      6. Communication: Important Beyond Words
      7. Controlling to Plan
    3. Chapter 3 - The Moving Parts of a Business
      1. Forms of Business Organization
      2. The Parts of a Business
      3. Information Systems Keeps Everyone Informed
      4. Putting It All Together: The Org Chart
    4. Chapter 4 - Lessons in Leadership
      1. Style or Skills? Role or Position?
      2. Leadership Skills
      3. Managing Change
      4. Leadership Lessons of Life
    5. Chapter 5 - The Nuts and Bolts of Managing People and Teams
      1. What Does Human Resources Do?
      2. Hiring the Right Person for the Job
      3. Dealing with Problem Employees
      4. Take Your Time
      5. Team, Team, Teams
  6. Part 2 - Making Decisions About Resources and Operations
    1. Chapter 6 - The Business Cycle and Economic Indicators
      1. Why the Business Cycle Occurs
      2. Economic Policy
      3. Fiscal Policy: Taxing and Spending
      4. Monetary Policy
      5. Understanding Economic Trends
      6. Go Directly to the Sources
      7. Do-It-Yourself Economic Watch
      8. Watch the Data, but Think Long-Term
    2. Chapter 7 - Getting Down to Business: Operations Management
      1. Managing Your Resources
      2. What’s It Worth?
      3. What About Social Costs and Benefits?
      4. Too Much of a Good Thing
      5. Counting Costs
      6. Size Matters: Economies of Scale
      7. Come Together, Go Apart
      8. How Much Centralization Is Good?
      9. You’ll See These Concepts, If You Look
    3. Chapter 8 - Decisions, Decisions
      1. The Manager’s Toolbox
      2. Break-Even Analysis
      3. Crossover Analysis
      4. Planning and Scheduling Tools
      5. Decision Trees: More Visual Aids
      6. Statistics for Business Decisions
      7. Frequency Distributions
      8. Measures of Central Tendency
      9. Measures of Variability
      10. Use As Many As You Can
    4. Chapter 9 - Budget Basics
      1. What Are Budgets and Why Do You Need Them?
      2. Types of Budgets
      3. Sales Budgets and Variance Reports
      4. Expense Budgets and Variance Reports
      5. Explaining Budget Variances
      6. Cost Control
      7. Take Credit Management Seriously
    5. Chapter 10 - Managing for Productivity and Quality
      1. What Is Productivity?
      2. Measuring Productivity
      3. More, More! Faster, Faster!
      4. Boosting Employee Skills and Motivation
      5. Improving Equipment
      6. Improve the Processes
      7. What Is Quality, Anyway?
      8. Quality Assurance
      9. How to Control Quality
      10. Developing Quality Standards
      11. Applying Quality Standards
      12. Creating a Corporate “Culture of Quality”
      13. Methods and Tools of Quality Control
      14. The Challenge of Global Competition
  7. Part 3 - Managing Money, Accounting, and Finance
    1. Chapter 11 - Meet Your Balance Sheet
      1. Assets, Liabilities, and Owners’ Equity: You Need ’Em All
      2. Meet the Balance Sheet
      3. A Sample Balance Sheet
      4. A Tour of the Assets
      5. The Major Liabilities
      6. Owner’s Equity
    2. Chapter 12 - Making a Statement: Income and Cash Flow
      1. Introducing the Income Statement
      2. A Tour Through the Income Statement
      3. Get Insights into Income
      4. How Are Your Employees Doing?
      5. The Cash Flow Statement
    3. Chapter 13 - Financial Analysis
      1. Let’s Get Analytical
      2. Liquidity Ratios
      3. Solvency Ratios
      4. Profitability Ratios
      5. Keep Your Pencils—and Eyes—Sharp
    4. Chapter 14 - Look at the Books
      1. The Major Ledgers
      2. The Double-Entry System
      3. Accounting Treatment of Assets
      4. Accounting for Inventory
      5. Number Games
    5. Chapter 15 - Making Investment Decisions
      1. Time Is Money
      2. Major Business Investment Decisions
      3. Three Ways to Analyze Investments
      4. Net Present Value
      5. Internal Rate of Return
      6. Payback Period
      7. Pick a Rate, but Not Just Any Rate
      8. About Leverage
      9. The Lease-Versus-Buy Decision
    6. Chapter 16 - Ups and Downs: The Financial Markets
      1. What Are the Financial Markets?
      2. Bulls, Bears, Bubbles, and Crashes
      3. Information and the Market
      4. Types of Investors and Traders
      5. Options: Puts and Calls
      6. Fundamental Analysis vs. Technical Analysis
      7. Corporate Bonds: Big IOUs
      8. Commercial Paper
      9. Government Securities
      10. Other Government Securities
      11. The Risk/Return Tradeoff
      12. Other Financial Markets and Investment Vehicles
  8. Part 4 - Managing Marketing for Maximum Sales
    1. Chapter 17 - Ready, Aim, Sell
      1. Marketing, Sales—What’s the Difference?
      2. Commercial vs. Consumer Sales
      3. Translating Sales Goals into Marketing Plans
      4. Product Differentiation
      5. Marketing Basics
    2. Chapter 18 - Who Are Your Customers, Anyway?
      1. What Is a Market?
      2. Divide and Conquer: Market-Segmentation Strategies
      3. Why Do Market Research?
      4. Who Needs Market Research?
      5. The Two Types of Market Research
      6. Creating a Market Research Study
      7. Powerful Presentations Pack a Punch
      8. Voice of the Customer
    3. Chapter 19 - The Five P’s of Marketing
      1. The Marketing Mix Made Easy
      2. Product Is Paramount
      3. Pricing Problems
      4. Packaging Presents Your Products
      5. A Proper Place Produces Profits
      6. Promotion Boosts Purchases
      7. The Role of the Web
      8. Proper Positioning Prevents Poor Performance
    4. Chapter 20 - You Can Understand Advertising (and That’s a Promise!)
      1. What Is Advertising and What Does It Do?
      2. Components of Advertising
      3. Ad Messages: Say What?
      4. Money: Your Advertising Budget
      5. Media: Who’s Watching?
      6. Consider the Demographics
      7. Other Media Characteristics
      8. Promotional Tools
      9. Public Relations Programs
      10. The Internet as Game-Changer
    5. Chapter 21 - Selling to Customers and Keeping Them Happy
      1. Types of Sales
      2. The Sales Process
      3. Organizing a Sales Force
      4. Compensating and Motivating Your Sales Force
      5. Supporting a Sales Force
      6. Customer Service
      7. A Few Words on Sales Training
    6. Chapter 22 - Product Development: Pioneers at Work
      1. The Value of Cross-Functional Teams
      2. The Product-Development Process
      3. Step One: Get a Good Idea
      4. Step Two: Test the Concept
      5. Step Three: Design the Prototype and Product
      6. Step Four: Test the Product
      7. Step Five: Do a Market Test
      8. Step Six: Launch the Product
      9. Know When to Stop
      10. Extending Your Line
      11. What About R&D?
  9. Part 5 - Steering the Business into the Future
    1. Chapter 23 - Charting a Course with Strategic Planning
      1. What Is Strategic Planning?
      2. Define the Company’s Goals
      3. Analyze the Company’s Environment
      4. Consider the Company’s Resources
      5. Identify Actions
      6. Implement the Steps
      7. Strategic-Planning Guidelines
    2. Chapter 24 - Managing Risk in a Risky World
      1. What Is Risk and Risk Management?
      2. Top 10 Types of Risk
      3. Risk Assessment
      4. About Risk Appetite
      5. Risk-Management Tools
      6. Risk Management in Practice
      7. The Role of IT in Risk Management
      8. Creating a Culture of Risk Management
    3. Chapter 25 - Achieving Corporate Responsibility and Sustainability
      1. What Is Sustainability?
      2. Challenges in Managing Sustainability
      3. Getting Grounded: Product Footprinting
      4. Small or Large CR&S Efforts?
      5. Getting to Sustainability
    4. Chapter 26 - Entrepreneurship and Small Business Management
      1. Big Plans
      2. Finding Financing
      3. Managing Growth
      4. Buying a Business
      5. Corporate Ventures
      6. Entrepreneur Away
    5. Chapter 27 - Doing Well by Doing Good: Business Law and Ethics
      1. Society, Business, and the Law
      2. Business Law
      3. Rules and Regulations
      4. What Does This Mean to Managers?
      5. About Business Ethics
      6. Perennial Legal and Ethical Topics
      7. Governing the Corporation
      8. Act with Integrity
  10. Index