andreweverett360 Book Review, Finance

Essays on Hayek


Essays on Hayek
Edited by Fritz Machlup

Friedrich Hayek (1899-1992) received the Nobel Prize in Economics on December 11, 1974 for his theory of business cycles and the effects of monetary and credit policies. The following year, the Mont Pelerin Society held a conference at Hillsdale College covering various aspects of Hayek’s work. This book is a collection of the papers presented and discussed.

I find it noteworthy that Hayek wrote The Road to Serfdom (1944) on the consequences of socialism in the same era that George Orwell wrote Animal Farm (1945) and 1984 (1949).

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andreweverett360 Book Review, Marketing

Marketing and the Bottom Line


Marketing and the Bottom Line
by Tim Ambler

Tim Ambler (now retired) was a professor at the London Business School. He was unique in that he was a marketing professor who was also a Chartered Accountant. Ambler contends that boards of directors should devote more attention to marketing. He puts a particular emphasis on brand equity and innovation.

“The point is simple: if you want to know what your future cash flow will look like, investigate where it comes from—the market… Survival depends on basic wealth creation. And wealth creation depends on how healthy the marketing is… Securing customer preference opens up the main cash flow for every business.”

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andreweverett360 Finance, interview

An interview with Alastair Thomson author of Cash Flow Surge

After posting more than 250 book reviews, I decided to try something new: an author interview on YouTube. I am grateful to Alastair Thomson for graciously sharing his wisdom on managing small and medium-sized businesses. Alastair has an accounting background, but this conversation is not about debits and credits. It’s about improving your business from the perspective of an experienced CEO and CFO. We cover cash flow, profit, customer experience, metrics, business ethics, marketing, quality, continuous improvement, front-line employees, growth, margins, inventory, and receivables.

An interview with Alastair Thomson, author of Cash Flow Surge
July 16, 2020 – 1 hour – Book Review – Amazon

Transcript

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andreweverett360 Book Review, Management

The Tyranny of Metrics


The Tyranny of Metrics
by Jerry Z. Muller

“This book argues that while they are a potentially valuable tool, the virtues of accountability metrics have been oversold, and their costs are often underappreciated.” There are chapters on the dysfunction of “metric fixation” in colleges and universities; schools; medicine; policing; the military; business; and philanthropy. Problems include gaming the system, costs exceeding benefits, and diverting effort from the core mission. A major theme is metrics as a substitute for competent judgment. 

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andreweverett360 Book Review, Management

HBR Guide to Data Analytics Basics for Managers


HBR Guide to Data Analytics Basics for Managers

The objective of this book is to help managers make better data-driven decisions by working with data analysts and data scientists. The guide is a compendium adapted from 23 previously published Harvard Business Review and hbr.org articles.

“Framing a problem… is the most important stage of the analytical process for a consumer of big data. It’s where your business experience and intuition matter most. After all, a hypothesis is simply a hunch about how the world works. The difference with analytical thinking, of course, is that you use rigorous methods to test the hypothesis.”

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andreweverett360 Book Review, Marketing

Marketing Above the Noise

marketing-above-the-noise


Marketing Above the Noise: Achieve Strategic Advantage with Marketing that Matters
by Linda J. Popky

Grounded in fundamentals and guided by strategic objectives, Linda Popky puts the hype around social media and big data in perspective. “It’s time to move the discussion away from today’s latest hot marketing tools and tactics to what really counts: convincing customers to trust you with their business—not just once, but time and time again.”

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andreweverett360 Book Review, Marketing

Marketing ROI

marketing-roi


Marketing ROI: The Path to Campaign, Customer, and Corporate Profitability
by James D. Lenskold

Lenskold provides models to evaluate the expected return on investment (ROI) and profitability of marketing campaigns under consideration. The author rightfully points out that the net present value (NPV) of gross margin—not revenue—is the basis for these calculations. Campaigns with an ROI lower than the cost of capital will be rejected. Remaining options can be prioritized in favor those with the highest ROI.

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