The 80 minute MBA - 10 Slide Summaries

Business Book Summaries in 10 slides. MBA in 80 minutes

1. Book: The 80 Minute MBA Author : Richard Reeves & John Knell Category : Business Summary : You can get the main ideas of an MBA course worth thousands of dollars /euro by reading this book in 80 minutes. Rating: 1 www.fresh ideas .es

2. www.fresh ideas .es The writing of this book has been heavily influenced by the financial crash , recession and global warming . The authors feel that a new type of leadership and way of building businesses are needed . This book is focused on five main areas : Sustainability , Leadership , Culture, Cash and Conversation 2

3. Sustainability : Climate change, population growth and resource scarcity form part of the sustainability imperative. It makes business sense to think green. Ethics – moral reform is also needed in the post-crash world. 3 Businesses should be aware of their exposure to risks from climate change. They should disclose their impact on the environment. They should set targets for carbon reductions. They should press governments for more regulation to create a level, green playing field. www.fresh ideas .es

4. It is essential to develop our numerical skills in order to understand the world around us. This is especially true for statistics – where we have to understand the concept of statistical significance (where something does not happen due to co-incidence) and the difference between correlation and causation. 4 www.fresh ideas .es

5. Leadership : Most ideas and writing on leadership is rubbish. 4 things great leaders know: 1. Where we’re going – direction of the company. 2. What’s going on – it’s necessary to manage the company, “sweat the small stuff” and read the emotional temperature of the organisation 5 3. Who am I? – leaders know their own strengths and weaknesses. How to build a strong team – They are motivated by what they build instead of what they get. They also understand that execution is more important that strategy . www.fresh ideas .es

6. Culture : “ People are simultaneously the most valuable factor of production and the most difficult to engage effectively”. The commitment dividend stands from the benefits accrued by having employees who “care about the organisation’s aims, who willing make improvements, contribute ideas and take decisions” 6 The importance of micro- behaviours reflects the fact that the day-to-day behaviours have to create and reinforce the official culture. Solidarity stands for a community with a purpose. Important to have both. Energy is the essence of an organisation and a great leader knows how to inject it. Autonomy – set employees free . www.fresh ideas .es

7. Cash 4 Golden Rules: 1. A double entry system involves recording the effects of each transaction as debits and credits. 2. The left hand side of an account is the debit side and the right hand side is the credit side. 7 3. Total Debits must equal total credits. 4. The accounting equations is: Assets = liabilities + capital. www.fresh ideas .es

8. Supply chain management has changed due to advances in IT and the sustainability imperative. The essential element of economics is basically the intersection of what people want and demand with what organisations are willing to supply at a given price. Where they intersect is called the equilibrium point. 8 www.fresh ideas .es

9. Conversation : Move from one-to-many communications to many-to-many as a result of social media. “New marketing which leverages scarce attention and creates interactions among communities with similar interests.” The traditional 4Ps of marketing are no longer enough. 9 Influence of customer in a controlled way has changed to a more dynamic and chaotic flow between the organisation and consumer. What is important now are the 4 Cs. Community – have to engage with foes as well as friends. Customisation – technology now means that the personalisation of products is possible for all customers at an affordable price point. www.fresh ideas .es

10. Co-creation – the organisation and the customer work together to build the service and the product. Conversation – companies will have to learn the art of dialogue – communication as a two way art between the company and the consumer. 10 www.fresh ideas .es