The World's Best Book Summaries
What was Sam Walton’s leadership style? How did Walton keep the small-store feel even when Wal-Mart had thousands of stores? Sam Walton had a “whistle while you work” attitude. He trusted his employees, encouraged open communication, held managers to the same expectations as their underlings, and more. This created a close-knit company culture in Wal-Mart’s early days. Keep reading for more details about Sam Walton’s leadership style.
What is medical coding? Who creates and maintains medical billing codes? In the United States, medical billing codes are used to identify medical procedures and communicate to health insurance companies the type of treatment that has been provided to the patient. Three types of billing codes are now prevalent: CPT, HCPCS, and ICD. Keep reading to learn about medical billing, its history, and its implications for healthcare providers.
Do you dream of having your own business? What is the number one factor for becoming successful as a beginner entrepreneur? According to entrepreneur and lifestyle guru Tim Ferriss, the most important thing you need to get successful in business is 1,000 true fans. True fans become your direct source of income and the major marketing force for ordinary fans. Keep reading for Tim Ferriss’s business tips on how to start a successful venture and grow it.
How does a lean management system maximize efficiency and productivity? What are its limitations? In Smarter Faster Better, Charles Duhigg explains how a lean management system contributes to productivity. He highlights one aspect of the lean method that he believes rises above the rest. Duhigg also provides a real-world example of the system and lays out its limitations. Read more to learn how a lean management system can boost productivity.
How do hospitals bill for their services? Why does hospital care cost so much more in America compared to other developed countries? American hospital bills can get exorbitantly high because the pricing practices are designed to maximize billing to the point of what’s acceptable. Hospitals can even add optional services without necessary patient benefit—using ultrasound to inject steroids in a knee adds $300. This article takes a look at the hospital billing system in America and gives some practical recommendations on what you can do to reduce your bill.
Looking for The Infinite Game quotes by Simon Sinek? What are some of the most noteworthy passages worth revisiting? In The Infinite Game, Simon Sinek applies James P. Carse’s concept of finite and infinite games to the domain of business. Games where the players either play to win (finite), or to survive, thrive, and keep playing (infinite). He argues that people who view business as an infinite game are more successful, while those who aim to “win” don’t end up as well-off. Keep reading for The Infinite Game quotes with explanations.
What is Wal-Mart’s business strategy? How does Wal-Mart maintain its low prices and high volume? In his autobiography Sam Walton: Made in America, Walton details his business strategy. This strategy enabled him to grow Wal-Mart from a single five and dime store to a nationwide superstore. Here is Sam Walton’s Wal-Mart business strategy.
Do you have a business idea in mind? More importantly, do you have what it takes to make it into reality? There are oceans of people who come up with brilliant business ideas. They all could be successful entrepreneurs if only this one thing weren’t in the way—their mentality. If you have a business idea but aren’t quite ready to start turning it into reality, start by cultivating an entrepreneur mentality.
What is product positioning? What are some things you need to consider to position your product in a way that keeps the demand high and the customers happy? Put simply, product positioning is the process of framing and communicating how you want your target audience to think and feel about your product. According to Ryan Holiday, the author of Perennial Seller, there are two things you need to consider when designing your product positioning strategy: 1) your product’s genre and 2) its use case. Let’s take a closer look at how to position your product in the market, according to
Does your company have a Just Cause? What is the larger need—beyond the immediate provision of the product—that your business aims to fulfil? A Just Cause outlines the reason you are in business beyond the provision of any one specific product or service. It provides a context for all the decisions you’ll make and inspires people to work hard and make sacrifices because they believe in the cause. In this article, we will take a look at the characteristics of a Just Cause and how a Just Cause looks like in real-world business.