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Title: What the CEO Wants You to Know : How Your Company Really Works by Ram Charan ISBN: 0-609-60839-8 Publisher: Crown Business Pub. Date: 13 February, 2001 Format: Hardcover Volumes: 1 List Price(USD): $18.95 |
Average Customer Rating: 3.89 (18 reviews)
Rating: 3
Summary: A quick summary of business fundamentals but incomplete
Comment: The book can serve a quick summary of basics of business. However, to really understand a business from inside one also has to undertand core processes such as
1. How is supply chain managed
2. How is Information technology Leveraged
3. What is the "core" strength of the business - economies of scale/eco. of scope/unique products etc.
Venkat
Rating: 5
Summary: Business in layman's language
Comment: Ram Charan has explained the complexities of running a multinational business from the view point of a street vendor. Both a street vendor and a CEO has the same problems and both tackle them in similar ways. Anticipating customers needs, generating cash, profits, return on your capital are all explained very simply, without complications. I learnt how to analyze a company from the results it declares, especially how fast is it growing, is it profitable, how to interpret the P/E ratio. It is must read for any engineer, manager or business owner.
Rating: 4
Summary: Revival of Business Fundamentalism in Globalization
Comment: The problems of globalization have surfaced eventually. With the China ¡§world factory¡¨ in operation, prices and wages are cut. The concept of ¡§value-added¡¨ is boosted every now and then. People are looking for directions in this globally competitive environment.
Perhaps the answer is: to know what the CEO wants you to know, but which he never speaks out. This little book by Ram Charan, aptly subtitled ¡§how your company really works¡¨ offers you the chance to get to know your boss¡¦ mind. Ram, a business fundamentalist from Harvard Business School, says every business is just the same as a street vendor business. He cuts the business complexities down to just TWO principles: 1.) Cashflow is of utmost importance. Without it, you won¡¦t survive into tomorrow. 2.) Is customer focused.
The cashflow problem is a basic financial formula: Return on Asset (R) = Margin (M) * Velocity (V). All companies are trying to increase the margin and the velocity. In turn, shareholder value is increased when return on asset is increased and is able to cover the cost of capital. Basic finance stuff in every finance textbooks? Ram recalls you to re-focus on this issue. With prices dropping, it appears that cutting operational costs might be the answer. But the concept of Growth must come in. That is, to grow the business with faster turnover to customer. How? Increase customer satisfaction.
Mr. Charan calls for companies to have direct, unfiltered, close contact with customers. Customers are now paying premium for trust- worthiness. You want them to come to make business again with you without worrying that you may suddenly disappear, i.e. that you are out of business. And that¡¦s what we call quality counts.
As it claims, such formula generates a cash generation cycle. As productivity increases because of better quality, margin increases, leading to increased cashflow to cater for better customer service and thus satisfaction and in turn, expands the company¡¦s market share. Well, you name the next one¡K
Business leaders are to set business priorities, balancing the cash generation with prices cut versus keeping the inventory so that customers are happy. Business acumen is required (and that is what CEOs are priced for). Mr. Charan also urges you to grow company¡¦s employees, making a decisive team with zero information distortion, zero delay and zero distrust ¡V a ¡§synchronized¡¦ company.
This 140-pages little page-turner is crammed full with lots of ideas. Read it fast and most important of all, to act on it. There is no excessive word and you feel motivated to get your own hands wet and dirty. A good book especially for the finance professionals. For the general public at large, you might be better to get some financial background knowledge first.
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Title: Execution: The Discipline of Getting Things Done by Ram Charan, Charles Burck, Larry Bossidy ISBN: 0609610570 Publisher: Crown Business Pub. Date: 15 June, 2002 List Price(USD): $27.50 |
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Title: Profitable Growth Is Everyone's Business : 10 Tools You Can Use Monday Morning by Ram Charan ISBN: 1400051525 Publisher: Crown Publishing Group Pub. Date: 20 January, 2004 List Price(USD): $22.00 |
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Title: Every Business is a Growth Business: How Your Company Can Prosper Year After Year by Ram Charan, Noel Tichy ISBN: 0812933052 Publisher: Three Rivers Press Pub. Date: 04 April, 2000 List Price(USD): $16.00 |
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Title: The Leadership Pipeline: How to Build the Leadership Powered Company by Ram Charan, Steve Drotter, Jim Noel, Jim Noel ISBN: 0787951722 Publisher: Jossey-Bass Pub. Date: 01 November, 2000 List Price(USD): $29.95 |
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Title: Simplicity: The New Competitive Advantage in a World of More, Better, Faster by Bill Jensen, Bill Jensen ISBN: 0738204307 Publisher: Perseus Publishing Pub. Date: 09 January, 2001 List Price(USD): $16.50 |
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