30+mba-µÚ2²¿·Ö
°´¼üÅÌÉÏ·½Ïò¼ü ¡û »ò ¡ú ¿É¿ìËÙÉÏÏ·ҳ£¬°´¼üÅÌÉ쵀 Enter ¼ü¿É»Øµ½±¾ÊéĿ¼ҳ£¬°´¼üÅÌÉÏ·½Ïò¼ü ¡ü ¿É»Øµ½±¾Ò³¶¥²¿£¡
¡ª¡ª¡ª¡ªÎ´ÔĶÁÍꣿ¼ÓÈëÊéÇ©ÒѱãÏ´μÌÐøÔĶÁ£¡
one¡¡of¡¡the¡¡UK¡¯s¡¡then¡¡all¡too¡frequent¡¡economic¡¡troughs¡£¡¡
It¡¡was¡¡at¡¡this¡¡point¡¡that¡¡I¡¡realized¡¡that£»¡¡in¡¡mon¡¡with¡¡millions¡¡of¡¡others¡¡
in¡¡business£»¡¡I¡¡had¡¡li¡£¡£le¡¡knowledge¡¡outside¡¡my¡¡own¡¡narrow¡¡discipline¡£¡¡
My¡¡cash¡starved¡¡employer¡¡had¡¡no¡¡real¡¡incentive¡¡to¡¡train¡¡me£»¡¡or¡¡any¡¡of¡¡
his¡¡employees£»¡¡in¡¡any¡¡subject¡¡that¡¡didn¡¯t¡¡have¡¡a¡¡reasonably¡¡immediate¡¡
payback¡£¡¡I¡¡had¡¡spent¡¡two¡¡years¡¡at¡¡Sandhurst¡¡being¡¡trained¡¡thoroughly¡£¡¡I¡¡
had¡¡a¡¡rudimentary¡¡grasp¡¡of¡¡what¡¡engineers£»¡¡infantry¡¡and¡¡artillery¡¡could¡¡
do£»¡¡as¡¡well¡¡as¡¡the¡¡abilities¡¡and¡¡role¡¡of¡¡the¡¡navy¡¡and¡¡air¡¡force¡¡in¡¡any¡¡task¡¡in¡¡
which¡¡I¡¡was¡¡likely¡¡to¡¡be¡¡involved¡£¡¡But¡¡now¡¡in¡¡business£»¡¡outside¡¡of¡¡sales£»¡¡in¡¡
which¡¡I¡¡had¡¡been¡¡given¡¡just¡¡two¡¡days¡¡of¡¡instruction£»¡¡I¡¡was¡¡totally¡¡ignorant¡£¡¡
Accounts£»¡¡production£»¡¡supply£»¡¡global¡¡petitors£»¡¡substitute¡¡products¡¡and¡¡
the¡¡economic¡¡climate¡¡were¡¡all¡¡a¡¡closed¡¡book¡£¡¡I¡¡wasn¡¯t¡¡even¡¡aware¡¡that¡¡the¡¡
client¡¡whom¡¡I¡¡thought¡¡was¡¡so¡¡large¡¡and¡¡powerful¡¡was¡¡about¡¡to¡¡be¡¡swept¡¡
away¡¡in¡¡a¡¡maelstrom¡¡of¡¡technological¡¡change¡£¡¡I¡¡le¡£¡£¡¡the¡¡pany£»¡¡took¡¡an¡¡
MBA£»¡¡and¡¡went¡¡on¡¡to¡¡line¡¡and¡¡staff¡¡positions¡¡around¡¡the¡¡world¡¡and¡¡then¡¡
to¡¡running¡¡businesses£»¡¡small¡¡at¡¡first¡¡and¡¡eventually¡¡quite¡¡large¡£¡¡A¡¡spell¡¡in¡¡
consulting¡¡was¡¡followed¡¡by¡¡a¡¡return¡¡to¡¡the¡¡business¡¡school¡¡world£»¡¡this¡¡time¡¡
to¡¡teach¡¡and¡¡research¡¡in¡¡some¡¡great¡¡schools¡¡in¡¡the¡¡UK£»¡¡mainland¡¡Europe£»¡¡
the¡¡United¡¡States¡¡and¡¡Asia¡£¡¡
Anyone¡¡who¡¡wants¡¡to¡¡play¡¡a¡¡more¡¡rounded¡¡role¡¡in¡¡shaping¡¡and¡¡implementing¡¡
the¡¡direction¡¡of¡¡the¡¡organization¡¡they¡¡work¡¡in£»¡¡but¡¡are¡¡inhibited¡¡
by¡¡their¡¡lack¡¡of¡¡fundamental¡¡business¡¡knowledge£»¡¡needs¡¡MBA¡¡knowledge¡£¡¡
Reading¡¡this¡¡book¡¡will¡¡equip¡¡them¡¡to¡¡take¡¡part¡¡in¡¡strategic¡¡decision¡¡making¡¡
on¡¡an¡¡equal¡¡footing¡¡with¡¡MBA¡¡graduates£»¡¡while¡¡feeling¡¡at¡¡ease¡¡in¡¡the¡¡process¡£¡¡
It¡¡places¡¡MBA¡¡skills¡¡within¡¡reach¡¡of¡¡all¡¡professionals¡¡in¡¡large¡¡and¡¡small¡¡
organizations¡¡in¡¡both¡¡the¡¡public¡¡and¡¡private¡¡sectors£»¡¡providing¡¡them¡¡with¡¡a¡¡
petitive¡¡edge¡¡over¡¡less¡¡knowledgeable¡¡colleagues¡£¡¡
WHAT¡¡IS¡¡MBA¡¡KNOWLEDGE£¿¡¡
Business¡¡schools¡¡have¡¡tended¡¡to¡¡plicate¡¡and¡¡intellectualize¡¡the¡¡subject¡¡
of¡¡business¡¡but¡¡it¡¡basically¡¡boils¡¡down¡¡to¡¡a¡¡dozen¡¡disciplinary¡¡areas£»¡¡each¡¡
with¡¡a¡¡number¡¡of¡¡ponents¡£¡¡The¡¡disciplines¡¡contain¡¡the¡¡tools¡¡with¡¡
which¡¡you¡¡can¡¡analyse¡¡a¡¡business¡¡situation¡¡effectively£»¡¡drawing¡¡on¡¡both¡¡
internal¡¡information¡¡relevant¡¡to¡¡the¡¡business¡¡and¡¡external¡¡information¡¡on¡¡
its¡¡markets£»¡¡petitors¡¡and¡¡general¡¡business¡¡environment¡¡as¡¡a¡¡prelude¡¡to¡¡
deciding¡¡what¡¡to¡¡do¡£¡¡
The¡¡emphasis¡¡here¡¡in¡¡the¡¡contents¡¡of¡¡this¡¡book¡¡is¡¡on¡¡the¡¡terms¡¡¡®concepts¡¯¡¡
and¡¡¡®tools¡¯¡£¡¡The¡¡business¡¡world¡¡is¡¡full¡¡of¡¡conflicting¡¡theories¡¡and¡¡ideas¡¡on¡¡
Introduction¡¡3¡¡
how¡¡organizations¡¡could¡¡or¡¡should¡¡work£»¡¡or¡¡how¡¡they¡¡could¡¡be¡¡made¡¡to¡¡
work¡¡be¡£¡£er¡£¡¡They¡¡e¡¡in¡¡and¡¡out¡¡of¡¡fashion£»¡¡get¡¡embellished¡¡or¡¡replaced¡¡
over¡¡time¡£¡¡In¡¡business£»¡¡for¡¡example£»¡¡there¡¡is¡¡no¡¡such¡¡thing¡¡as¡¡a¡¡universal¡¡
optimal¡¡capital¡¡structure£»¡¡or¡¡the¡¡right¡¡number¡¡of¡¡new¡¡products¡¡to¡¡bring¡¡to¡¡
market£»¡¡or¡¡whether¡¡or¡¡not¡¡going¡¡for¡¡an¡¡acquisition¡¡is¡¡a¡¡winning¡¡strategy¡£¡¡
What¡¯s¡¡best¡¡in¡¡terms¡¡of£»¡¡say£»¡¡a¡¡debt¡¡to¡¡equity¡¡ratio¡¡varies¡¡with¡¡the¡¡type¡¡of¡¡
organization¡¡and¡¡the¡¡prevailing¡¡conditions¡¡in¡¡the¡¡money¡¡market¡£¡¡That¡¡ratio¡¡
will¡¡be¡¡different¡¡for¡¡the¡¡same¡¡organization¡¡at¡¡different¡¡times¡¡and¡¡when¡¡it¡¡
is¡¡pursuing¡¡different¡¡strategies¡£¡¡Layering¡¡an¡¡inherently¡¡risky¡¡marketing¡¡
strategy£»¡¡say¡¡diversifying£»¡¡with¡¡a¡¡risky¡¡financing¡¡strategy£»¡¡using¡¡borrowed¡¡
rather¡¡than¡¡shareholders¡¯¡¡money£»¡¡creates¡¡a¡¡potentially¡¡more¡¡risky¡¡situation¡¡
than¡¡any¡¡one¡¡of¡¡those¡¡actions¡¡in¡¡isolation¡£¡¡But¡¡whichever¡¡choices¡¡a¡¡business¡¡
makes£»¡¡the¡¡tools¡¡used¡¡to¡¡assess¡¡financial¡¡and¡¡marketing¡¡strengths¡¡and¡¡weaknesses¡¡
are¡¡much¡¡the¡¡same¡£¡¡It¡¡is¡¡the¡¡concepts¡¡and¡¡tools¡¡to¡¡be¡¡used¡¡in¡¡those¡¡
disciplines¡¡that¡¡this¡¡book¡¡explains£»¡¡and¡¡it¡¡shows¡¡you¡¡how¡¡to¡¡use¡¡both¡¡of¡¡
these¡¡individually¡¡and¡¡to¡¡assess¡¡a¡¡business¡¡situation¡¡prehensively¡£¡¡
THE¡¡MBA¡¡DISCIPLINES¡¡
These¡¡are¡¡a¡¡dozen¡¡or¡¡so¡¡core¡¡disciplines¡¡that¡¡prise¡¡the¡¡subject¡¡ma¡£¡£er¡¡of¡¡
an¡¡MBA¡¡programme¡£¡¡Many¡¡business¡¡schools¡¡eschew¡¡some¡¡vital¡¡elements¡¡
within¡¡these¡¡disciplines¡¡as¡¡they¡¡are¡¡considered¡¡either¡¡too¡¡practical£»¡¡unsexy¡¡
from¡¡a¡¡research/career¡¡prospective¡¡or¡¡more¡¡skill¡¡or¡¡art¡¡oriented¡¡than¡¡
academic¡£¡¡A¡¡prime¡¡example¡¡is¡¡the¡¡field¡¡of¡¡selling£»¡¡which¡¡fits¡¡naturally¡¡into¡¡
the¡¡marketing¡¡domain¡¡but£»¡¡much¡¡to¡¡the¡¡surprise¡¡of¡¡MBA¡¡students£»¡¡o¡£¡£en¡¡
fails¡¡to¡¡appear¡¡on¡¡the¡¡syllabus¡£¡¡There¡¡are¡¡thousands¡¡of¡¡professors¡¡of¡¡marketing£»¡¡
distribution¡¡and¡¡logistics£»¡¡market¡¡research£»¡¡advertising£»¡¡industrial¡¡
marketing£»¡¡strategic¡¡munications¡¡and¡¡every¡¡subsection¡¡of¡¡marketing£»¡¡
but¡¡there¡¡are¡¡no¡¡professors¡¡of¡¡selling¡£¡¡Yet¡¡most¡¡employers£»¡¡and¡¡students¡¡
for¡¡that¡¡ma¡£¡£er£»¡¡feel¡¡that¡¡their¡¡MBA¡¯s¡¡value¡¡would¡¡be¡¡enhanced¡¡by¡¡a¡¡sound¡¡
grounding¡¡in¡¡selling¡¡and¡¡sales¡¡management¡£¡¡
Some¡¡business¡¡schools¡¡miss¡¡out¡¡personal¡¡development£»¡¡social¡¡responsibility¡¡
and¡¡ethics£»¡¡entrepreneurship£»¡¡business¡¡planning¡¡or¡¡even¡¡quantitative¡¡
methods¡£¡¡Almost¡¡all¡¡of¡¡them¡¡miss¡¡out¡¡business¡¡history¡¡¨C¡¡a¡¡core¡¡subject¡¡at¡¡
Harvard¡¡¨C¡¡and¡¡business¡¡law¡¡¨C¡¡essential¡¡at¡¡all¡¡top¡¡schools¡£¡¡You¡¡will¡¡find¡¡all¡¡of¡¡
these¡¡disciplinary¡¡areas¡¡covered¡¡in¡¡this¡¡book¡£¡¡
Accounting¡¡
This¡¡covers¡¡the¡¡basic¡¡assembly¡¡and¡¡interpretation¡¡of¡¡raw¡¡financial¡¡data£»¡¡
from¡¡double¡entry¡¡bookkeeping¡¡through¡¡to¡¡the¡¡construction¡¡of¡¡the¡¡key¡¡accounting¡¡
reports¡¡¨C¡¡profit¡¡and¡¡loss£»¡¡cash¡¡flow¡¡and¡¡balance¡¡sheet¡£¡¡It¡¡continues¡¡
through¡¡to¡¡the¡¡accounting¡¡concepts¡¡and¡¡ground¡¡rules¡¡and¡¡the¡¡auditing¡¡
4¡¡The¡¡Thirty¡Day¡¡MBA¡¡
process¡¡and¡¡the¡¡tools¡¡required¡¡to¡¡access¡¡a¡¡business¡¯s¡¡financial¡¡health¡¡and¡¡
performance¡£¡¡
Business¡¡history¡¡
This¡¡is¡¡a¡¡brief¡¡review¡¡of¡¡the¡¡processes¡¡that¡¡led¡¡to¡¡the¡¡creation¡¡of¡¡the¡¡types¡¡
of¡¡business¡¡enterprise¡¡we¡¡have¡¡today£»¡¡showing¡¡how¡¡they¡¡came¡¡about£»¡¡
their¡¡significance¡¡and¡¡development¡£¡¡The¡¡main¡¡area¡¡covered¡¡is¡¡the¡¡development¡¡
of¡¡modern¡¡industry¡¡from¡¡1800£»¡¡but¡¡the¡¡trading¡¡laws¡¡and¡¡business¡¡
structures¡¡created¡¡in¡¡Babylon¡¡and¡¡the¡¡activities¡¡of¡¡mediaeval¡¡merchants¡¡
are¡¡also¡¡relevant¡¡to¡¡an¡¡understanding¡¡of¡¡the¡¡pedigree¡¡of¡¡today¡¯s¡¡business¡¡
environment¡£¡¡The¡¡watchword¡¡here¡¡is£º¡¡¡®Those¡¡who¡¡cannot¡¡remember¡¡the¡¡
past¡¡are¡¡condemned¡¡to¡¡repeat¡¡it¡£¡¯¡¡
Business¡¡law¡¡
From¡¡intellectual¡¡property£»¡¡employment¡¡and¡¡legal¡¡structures£»¡¡through¡¡to¡¡
the¡¡laws¡¡governing¡¡contracts¡¡and¡¡corporate¡¡governance£»¡¡organizations¡¡are¡¡
constrained¡¡in¡¡their¡¡actions¡¡by¡¡local¡¡and¡¡international¡¡laws¡£¡¡
Economics¡¡
In¡¡the¡¡1990s¡¡there¡¡was¡¡a¡¡prevailing¡¡view¡¡that¡¡globalization¡¡and¡¡technology¡¡
would¡¡check¡¡inflation¡¡and¡¡keep¡¡prices¡¡so¡¡low¡¡that¡¡consumers¡¡would¡¡keep¡¡
consuming¡£¡¡The¡¡death¡¡of¡¡the¡¡economic¡¡cycle¡¡was¡¡announced¡¡alongside¡¡the¡¡
birth¡¡of¡¡the¡¡¡®long¡¡boom¡¯¡£¡¡Today£»¡¡those¡¡same¡¡forces¡¡are¡¡credited¡¡with¡¡creating¡¡
a¡¡more¡¡volatile¡¡world¡¡with¡¡more¡¡violent¡¡economic¡¡swings¡£¡¡For¡¡the¡¡
manager£»¡¡a¡¡grasp¡¡of¡¡elements¡¡of¡¡macro¡¡and¡¡microeconomics¡¡is¡¡essential¡¡to¡¡
making¡¡sense¡¡of¡¡the¡¡business¡¡environment¡£¡¡
Entrepreneurship¡¡
Until¡¡the¡¡late¡¡1980s¡¡entrepreneurship¡¡was¡¡a¡¡paragraph¡¡or¡¡two¡¡in¡¡an¡¡economics¡¡
textbook¡£¡¡The¡¡discovery¡¡by¡¡David¡¡Birch£»¡¡a¡¡researcher¡¡in¡¡the¡¡United¡¡
States£»¡¡that¡¡small¡¡and¡¡new¡¡businesses¡¡accounted¡¡for¡¡over¡¡80¡¡per¡¡cent¡¡of¡¡new¡¡
jobs¡¡propelled¡¡entrepreneurship¡¡from¡¡a¡¡footnote¡¡to¡¡a¡¡core¡¡discipline¡¡important¡¡
equally¡¡to¡¡potential¡¡participants¡¡and¡¡government¡¡policy¡¡makers¡£¡¡
Ethics¡¡and¡¡social¡¡responsibility¡¡
One¡¡of¡¡the¡¡primary¡¡goals¡¡of¡¡business¡¡is¡¡to¡¡make¡¡the¡¡world¡¡a¡¡be¡£¡£er¡¡place¡£¡¡
Until¡¡recently¡¡this¡¡was¡¡something¡¡that¡¡business¡¡moguls¡¡did¡¡a¡£¡£er¡¡a¡¡lifetime¡¡
of¡¡being¡¡responsible¡¡for¡¡oil¡¡spills£»¡¡deforestation¡¡and¡¡generally¡¡polluting¡¡
Introduction¡¡5¡¡
the¡¡planet¡£¡¡Sure£»¡¡Exxon¡¡can¡¯t¡¡solve¡¡the¡¡world¡¯s¡¡energy¡¡problems¡¡and¡¡Wal¡¡¡
Mart¡¡and¡¡Nike¡¡can¡¯t¡¡solve¡¡the¡¡poverty¡¡experienced¡¡by¡¡the¡¡250¡¡million¡¡
child¡¡workers¡¡and¡¡their¡¡families¡£¡¡But¡¡increasingly¡¡businesses¡¡are¡¡being¡¡
required¡¡to¡¡work¡¡within¡¡accepted¡¡guidelines¡¡and¡¡to¡¡take¡¡part¡¡in¡¡the¡¡debate¡¡
about¡¡morals¡¡and¡¡responsibilities¡£¡¡Monsanto¡¡alone¡¡can¡¯t¡¡decide¡¡whether¡¡
genetically¡¡modified¡¡crops¡¡are¡¡safe¡¡or¡¡desirable¡¡and¡¡stem¡¡cells¡¡and¡¡cloning¡¡
are¡¡not¡¡subjects¡¡where¡¡it¡¡can¡¡be¡¡le¡£¡£¡¡to¡¡industry¡¡alone¡¡to¡¡set¡¡boundaries¡£¡¡
But¡¡those¡¡working¡¡in¡¡an¡¡industry¡¡have¡¡a¡¡wider¡¡constituency¡¡than¡¡their¡¡
shareholders¡¡and¡¡their¡¡own¡¡careers¡£¡¡
Finance¡¡
Finance¡¡covers¡¡the¡¡vital¡¡areas¡¡of¡¡where¡¡a¡¡business¡¡gets¡¡its¡¡money¡¡from¡¡and¡¡
the¡¡risks¡¡and¡¡responsibilities¡¡associated¡¡with¡¡each¡¡of¡¡those¡¡sources¡£¡¡Debt£»¡¡
eq