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  • Karen Berman: Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean

    Karen Berman: Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean

  • Harvard University Press: Financial Intelligence
    CFO.com "It's like The Elements of Style of finance." Book Description Understanding the Financials—and What Lies Behind Them Managers in every business are expected to use financial data to make decisions, allocate resources, and budget expenses. But the truth is, many are uncomfortable applying the most basic financial tools in their day-to-day work. Even managers who consider themselves financially savvy may not understand what goes into a financial statement, and so may take the numbers as gospel when they should be questioning them. In Financial Intelligence, Karen Berman and Joe Knight present the essentials of finance, but with an extra dimension. Succinct, easy-to-read chapters teach the fundamentals in a way that everyone can understand and put to work right away. But the authors also take you behind the scenes, to show where the numbers come from. Since nobody can quantify everything, accountants and finance executives always rely on estimates, assumptions, and judgment calls, which can skew the numbers in one direction or another. This book helps you recognize and understand those biases, challenge or correct for them when necessary, and use this information to be a better manager. Based on their work training tens of thousands of managers and employees at many leading organizations, Berman and Knight provide readers with a deep understanding of: The basics of financial measurement: reading income statements, balance sheets, cash flow statements, and moreThe art of finance: separating hard data from assumptions and estimatesThe mechanics of analysis: calculating ratios, return on investment, and working capitalCash and profit: knowing the difference between them, and why cash is suddenly the "hot" number in corporate boardrooms and on Wall StreetFinancial literacy and transparency: recognizing how they can boost performance Accessible, jargon-free, and filled with entertaining stories from real companies, Financial Intelligence will help nonfinancial managers add substantially more to their companies’—and their own—success. If you have ever wanted to "talk numbers" confidently with your colleagues, this is the book for you. (*****)
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Wednesday, April 27, 2005

Branding

The base of business is to buy and sell. Originally we used the barter system to trade. Today we use currency. What will we use tomorrow?

Branding has been the subject of conversation by many lately. What convinces the consumer to buy a certain product? Lets use cars as an example.

Why would you buy BMW as oppose to Mitsubishi? My best guess is the amount of 'hype' and advertising you spend determines the market share you receive. BMW have certainly gone a long way from being a luxury car importer into a mainstream car manufacturer not only for the rich but for typical suburbans.

However does this kind of branding mechanism really benefit society in general?

We push our young to study hard and get the best job they can to achieve status? or to pursue education in every respect thinkable. I choose the latter.

Thank You Mom and Dad.

Posted by MZZ on Wednesday, April 27, 2005 at 04:19 PM in Current Affairs |

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Comments

DZ

Hi Rachel,
Apple Computer don't spend nearly enough in Marketing and Adverstising to even come close to Microsoft's budget for the same subject. Albeit, Steve Jobs still believes he has a product unlike any other. I like Macintosh computers. My first computer was a Mac Plus and then the SE. It had a 20 MB hard drive and floppy. Microsoft bought over many new ideas and capitalised on it.

My Argument is relevant to the likes of companies like Nokia. They are all about Hype! They also own the largest market share on handheld mobile phones worldwide.

Kind Regards,
DZ

Posted by: DZ | Friday, May 27, 2005 at 11:13 AM

rachel

i beg to differ. Apple Computers have been marketing their products with lots of hype and exposure. but they don't own the world's largest market share for their product as opposed to microsoft. marketing is more than branding and advertising, business practices and other variables counts a lot too...

Posted by: rachel | Thursday, May 26, 2005 at 11:31 PM

MzMin

Pursuit of knowledge for knowledge sake is desirable indeed. But I do not think that parents push their children for status. Ultimately, its happiness - from every aspect. And like it or not, economic prosperity is in there.

Posted by: MzMin | Thursday, April 28, 2005 at 04:04 PM

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