BOOK REVIEW

 

   Tales from the Frontline. I enjoyed his tales from the boardroom especially the cartoon of directors facing their problems because as the title of one cartoon caption says "of course its bloody personal" when surrounded by his chuckling board members as he reads the report "Didn't you explain to these outside consultants handling the restructure who I was?"

Dunne clarifies the role of the board which is to ensure the right strategy is in place and is being followed, ensuring there is the resources in place to fit with the plan including the human and financial costs. But most importantly he states it's a directors prime objective is to keep out of jail because the Boardroom needs to comply with all the appropriate regulations relating to its industry and the countries within which it operates.

Also he states when dealing with boardroom dilemmas is how good are you at chess?   "A little chess playing ability may also come in handy. Having a clear objective, thinking ahead, anticipating responses and having your moves planned for various outcomes reduces pressure and confusion. Chess masters also recognise the value of all of their players and it is not simply about force. Victory through a lowly pawn is tremendously satisfying."

It must be, especially so when in his case study dealing with Mr Invincible, like a lover, first the excitement then the infuriation on page 189.

Directors' Dilemmas
by Patrick Dunne
Published by: Kogan Page Limited, London

 

 

 

   This tome is a favourite of mine because even though it was published in the eighties, I still use it frequently to remind myself the importance of marketing in any business as it deals with the theorists essays regarding this field. They offer chapters in general marketing, marketing planning and strategy, innovation, product and service marketing and international marketing.

The article written on International Marketing by P.M. Chisnall on strategic and tactical analysis states "...international marketing is not merely a complicated semantic rendering of export selling; it reflects a new attitude and orientation towards securing profitable business overseas. Therefore it requires a reappraisal of existing marketing methods of operations which is vital for international success and regardless of how large or small the company in any strategic decision...", as he also states that "...the customer is by far the most significant source of future funds, and the key to the customer is strategy..."

Also as Tom Cannon states in Marketing: the state of the art (or science?) many threads can be drawn together out of history to indicate the origins of marketing, from the Grande Faires de Champagne through the Hanseatic League and the Merchant Adventures of the Industrial Revolution and comtemporary developments in the marketing profession.

The Marketing Digest: Key Articles from the Quarterly
Review of Marketing
Edited by: Michael J. Thomas and Norman E. Waite
Published by: Heinemann Professional Publishing

   After reading this book I am glad I did because its an area of business least implemented by enterpreneurs when they start-up a business and still not largely understood by business in general and discussed as a subject by academics.

It answered how the logic of benefit-cost analysis can be applied to a wide range of policy measures and it did accomplish Gramlich's task of translating the technical debates of economists to those with a good bit less training.

In Gramlich's introduction he gives the quotes of Abraham Lincoln and Benjamin Franklin, London, September 19, 1772 part of which reads "and, though the weight of reasons cannot be taken with the precision of algebraic quantities, yet when each is thus considered, separately and comparatively, and the whole lies before me, I think I can judge better, and am less liable to take a rash step, and in fact I have found great advantage from this kind of equation, in what may be called moral or prudential algebra."

Again, I found it a fascinating subject because as he states "benefit-cost analysis is beguiling in its simplicity and seems to have very wide ramifications. In evaluating any choice, just add up the benefits, subtract the costs, and choose the alternative that maximizes the net benefits."

It is a simple and useful organizing device in projects as the principle of it can be applied to any choice in a professional or personal way ie. buying a house, car or choosing a career path.

A Guide to Benefit-Cost Analysis
by Edward M. Gramlich
Published by: Waveland Press Inc., USA

 

 

 

  Even though this tome is about the wealth of Britain, who gets it, why they do, and how they have acquired it and its distribution in wealth in England. I liked this book because it follows the historic, economic and political functions of how business has been conducted, the power and the status that goes with it.  The contents deals with the Inheritors, the State, People (the rich, company directors, professionals), Business (plc's, the multinationals, shopping, leisure), Finance (banks, investors, finance institutions).

This book is important as a reference to the structure of British society and its wealth. It would be great if other countries did an audit in book-form for their citizens to read and understand how the economy is managed.  Also this book assists the businessman who is endeavouring to invest in a particular country to have an ideal foundation to work from to prepare themselves and the company but shows that they have done their homework.

I have followed the advice of the author in how to use his book which is to tackle only those parts which intrigue a person immediately in any order which they choose to read.  As it gives the reader confidence that they can tackle such a large tome and to finish the whole book eventually one day.

Now where was I?.......

The National Wealth: Who Gets what in Britain
by Dominic Hobson
Published by: Harper Collins, London.

 

 

 

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