The World's Best Book Summaries
What is a public monopoly? Are public monopolies bad for the economy? A public monopoly can occur when the government directly produces goods for sale. A true public monopoly is uncommon in the U.S., but it can occur when government exerts control over the private sector. Read more about the public monopoly and how they affect the economy.
What is The Straight Line Persuasion System from Jordan Belfort’s Way of the Wolf? How did Belfort develop the straight line system? The Straight Line Persuasion System can be used to sell products that benefit both the seller and the buyer. It was originally used in a nefarious way before Belfort turned it into a successful money-maker and a force for good. Read on to learn more about the Straight Line Persuasion System.
What is the purpose of reporting to multiple managers? Why is this a helpful management structure? When someone reports to multiple managers, this has the benefit of increasing output since it can allow one person to focus on the technical aspects of the job, and another to focus on the general aspects. Read more about what it means to have one person report to multiple managers.
What are manager expectations of employees? How should managers set and communicate expectations? Manager expectations of employees are an important part of your workplace and workflow. You need to have a system for setting expectations and communicating them to employees. Read more about how to set manager expectations of employees.
What are the most common sales objections? How can you overcome these sales objections and turn a prospect into a paying customer? The most common sales objections fall into two categories: bad timing, and the need to check with someone else. The most common sales objections are all just smokescreens for other issues. This article will explain step-by-step how to overcome the most common sales objections using methods from Way of the Wolf.
What are the different types of monopolies? How can you recognize these different types of monopolies? According to Milton Friedman, there are three types of monopolies: regulated, unregulated, and public. All of these types are harmful to economic development in different ways. Read more about the different types of monopolies and how they work.
What are the best quality control methods? How can you implement them in your organization? There are three main quality control methods that can help you maintain consistency in your organization. You’ll need to take all of these factors into account when thinking about how to control the behavior of people in your company. Read more about quality control methods and how they apply to your organization.
What does Milton Friedman mean by “the social responsibility of business is to increase its profits?” How does this differ from other views of corporate social responsibility? Corporate social responsibility is the idea that as large corporations with a lot of money, companies have a duty to uplift their communities and society as a whole. In Capitalism and Freedom, Milton Friedman argues that the social responsibility of business is to increase its profits. Read more about Milton’s Friedman’s views and why the social responsibility of business is to increase its profits and nothing more.
What are productivity indicators? How can you use them to be a more effective manager and increase output? Using productivity indicators is an important strategy for management. Indicators can help you see patterns, and leading indicators can help you predict productivity and make changes. Read more about productivity indicators and how they work.
Are there good methods for assessing employee performance? How can you determine performance as a manager? Assessing employee performance is an important part of your managerial duties. Since you will regularly have to assess performance, you’ll need a system for doing this and communicating it. Read more about assessing employee performance and how it works.