101 Things I Learned in Business School

101 Things I Learned in Business School

by Michael W. Preis and Matthew Frederick

The study of business spans “such diverse disciplines as accounting, communications, economics, finance, leadership, management, marketing, operations… and strategy.” This book provides a thumbnail overview of variety of such topics. Here’s a sample of ten items covered in the book.

Cash Flow vs. Profit. “Profitable, fast growing companies can be chronically short of cash. A business typically makes a sale before payment is received from the buyer, while the costs related to that sale, such as materials, labor, commissions, and overhead are borne up front. Consequently, a business that is profitable may be short of cash until payment is received. An especially fast growing company with rapidly increasing sales might be chronically short of cash. Procuring and maintaining adequate capital is crucial for businesses… Undercapitalization is among the most common causes of business failure. It can bring down an otherwise healthy organization.”

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Seeing the Big Picture: Business Acumen

seeing-the-big-picture-business-acumen

Seeing the Big Picture: Business Acumen to Build Your Credibility, Career, and Company

by Kevin Cope

The premise of this book is that an employee who understands business fundamentals will be taken more seriously by management. “If, through your questions, ideas, comments, analysis, proposals, and performance, you exhibit business acumen, you will be seen as a more valuable contributor. You will demonstrate your worth to the company, and other people will notice.” Continue reading