Business Archives

Reluctant Entrepreneurs: Poverty and Entrepreneurship

How does poverty affect entrepreneurship? How does running a business—paradoxically enough—keep people in the poverty trap? It’s not uncommon for the poor to run their own businesses. However, running a business seldom helps them escape the poverty trap. This is because the poor choose not to invest in their businesses because they have little means to do so. Furthermore, the poor generally don’t want to run their own businesses—they often do so because they don’t have any other options to make a living. Here’s a look at poverty and entrepreneurship.

The Toyota Way: Book Overview and Takeaways

What is The Toyota Way about? What are the main takeaways from the book? In his book The Toyota Way, Jeffrey Liker describes how workers at Toyota problem-solve on the spot and ruthlessly eliminate waste. He also explains how the company supports them by offering job security and constant on-the-job challenges. Keep reading for a brief overview of Liker’s book The Toyota Way.

Ethical Workplace Behavior: Don’t Leave Gray Areas

Are your employees clear about the ethical expectations at your company? Are you consistently upholding behavior boundaries? CEO and venture capitalist Ben Horowitz draws on historical examples to show how you can provide cultural leadership in your organization. For lessons on ethical workplace behavior, Horowitz looks to Haitian revolutionary Toussaint Louverture, who shows us that we must not leave ethical gray areas. Keep reading to learn more about shaping ethical workplace behavior.

Loonshots: Book Overview and Key Takeaways

What is Safi Bahcall’s Loonshots about? What is the key message to take away from the book? In his book Loonshots, Safi Bahcall argues that innovations as wide-ranging and world-changing as radar, insulin, and computer animation all share a similar trajectory: They began as flawed, incredibly fragile ideas. They were repeatedly shot down or ignored, and if not for a lot of luck and persistence, they would never have made it. Bahcall’s big idea is that it’s possible to deliberately and systematically nurture loonshots. Below is a brief overview of Loonshots by Safi Bahcall.

Kaizen: The Toyota Way’s Most Important Principle

What does “kaizen” mean? Why is it one of the pillars of the Toyota Way? In The Toyota Way, kaizen is described as continuous improvement. Author Jeffrey Liker says kaizen improves Toyota’s operations at both the modeling stage and the implementation stage. Here’s more on the concept of kaizen in The Toyota Way.

How to Use a Tactical Business Plan to Reach Goals

What is a tactical business plan? How can a tactical plan help you turn your business goals into reality? Identifying your business goals is important, but it doesn’t mean anything if you don’t have a plan to execute those goals. In their book Execution, business leaders Larry Bossidy and Ram Charan teach you how to make a tactical plan to bring your business goals to fruition. Here’s how to create a tactical business plan.

Multiple Segmentation: Benefits of Splitting Your Market

What is multiple segmentation? How does splitting your target market increase growth in business? Market segmentation is when you divide your target market into multiple segments with a different product or message. In The Marketing Plan, William M. Luther encourages multiple segmentation because it offsets market decline. Here’s a more in-depth explanation of why Luther is in favor of multiple segmentation.

How to Create an Inclusive Culture at Your Workplace

When hiring, do you look for particular people or particular skills? When leading, do you give everyone a chance to thrive? In What You Do Is Who You Are, Ben Horowitz looks to Genghis Khan for lessons on cultivating intentional culture. He identifies three tips for how to create an inclusive culture: take the lead, look for specific skills rather than specific people, and give everyone the opportunity to succeed. Keep reading for three ways to create an inclusive culture in the workplace.

Employee Ownership: Reimagining Labor Markets

Why should companies be owned by their employees? Will employee ownership work for any business? In her book Doughnut Economics, Kate Raworth champions more collective forms of corporate governance, such as cooperatives and employee-owned enterprises. She argues that to deny workers an equity stake in the company to which they provide their valuable labor is to deprive them of what is rightfully theirs. Here’s why employee ownership is the way to go.

The Marketing Plan by William M. Luther: Overview

What is William M. Luther’s book The Marketing Plan about? What should you take away from the book? In The Marketing Plan, management and marketing expert William M. Luther outlines the variables that impact both the immediate and long-term success of your product or service. He encourages analyzing how these variables impact your business so that you can develop an effective business plan. Read on for a brief overview of The Marketing Plan.