The World's Best Book Summaries
What was Wall Street like in the 1980s? How did the Salomon Brothers make their fortune during this time? In the 1980s, Wall Street managed to recover from the high unemployment and inflation rates from the previous decade. This led to the rise of the bond market that the Salomon Brothers investment firm took advantage of. Let’s look at how the Salomon Brothers successfully navigated the bond market during this time.
What are the top four competitive strategies in business? Which of these strategies is right for your operation? A competitive strategy is a tactic businesses use to gain an advantage in the market. Even within a niche market, there may be hundreds or thousands of markets to compete with, so having a good strategy can make your business more attractive to consumers. We’ll look at the four most common competitive strategies in business and explain how each of them can put you on top.
How many bad managers have you had? Are you sure you’re a good manager? What common assumption about good employees is misguided? Employee experience expert Russ Laraway says poorly trained, ineffective managers are everywhere, and they’re costing companies billions of dollars every year. However, he says he has the solution: By developing a few key leadership skills, you can greatly improve your team’s morale and performance. Read more to learn why ineffective management is so common, how you can determine your own effectiveness, and why improving your skills is easier than you might think.
What’s the difference between a leader and a manager? Should managers bother to develop leadership skills? If so, which ones? Employee experience expert Russ Laraway laments the widespread problem of bad management. But, he has good news. He believes anyone can become a better manager by learning and practicing basic leadership skills: setting and reaching goals, coaching, and helping employees with career development. Continue reading to learn what Laraway thinks are essential leadership skills for managers.
How can every employee contribute to an organization’s objectives? Why is it important to set both short-term and long-term goals? In When They Win, You Win, employee experience expert Russ Laraway explains how you, as a manager, are responsible for helping your team contribute to your business’s goals. He divides these objectives into four tiers, starting with shorter-term goals and culminating in the company’s long-term goal. Read more to learn about a business’s long-term objectives and its ultimate aspiration—and how these complement each other.
What is an LBO? Are LBOs considered hostile in the business industry? A leveraged buyout (LBO) is when a group of executives makes a company private by buying all of the company’s stock. There’s still much debate on whether a leveraged buy-out is considered a hostile takeover of a company. Read more about LBOs, according to Barbarians at the Gate by Bryan Burrough and John Helyar.
What was the Black Monday stock market crash? How did the market suffer from this day? In Liar’s Poker, Michael Lewis writes about the day the financial world felt a shock unmatched since the Great Depression. On Monday, October 19, 1987, the global stock market crashed, wiping out trillions of dollars in investments. Learn more about Black Monday and how the investment bank Salomon Brothers and Lewis attempted to recover from the crash.
Do you set goals for your team members? Do you help them set and reach their own objectives? Regardless of your managerial level, you have a duty to help your team set and reach their own goals as well as contribute to the overall objectives of your organization. In When They Win, You Win, Russ Laraway outlines four tiers of managerial goals and shares two ways to measure your effectiveness. Keep reading to learn how you can help your team set and reach goals that benefit the organization as a whole.
Who is F. Ross Johnson? Why did Johnson agree to the buyout of RJR Nabisco? F. Ross Johnson was the CEO of RJR Nabisco, a tobacco and food product company, in the 1980s. Barbarians at the Gate by Bryan Burrough and John Helyar discusses the background of the RJR Nabisco CEO and why he initiated the leveraged buyout (LBO) of the company. Read on to get the whole picture and understand what made the RJR Nabisco buyout special.
Why was Ross Johnson resistant to a leveraged buyout of RJR Nabisco? Why did he eventually cave in? In the 1980s, many LBO consultants were pursuing the idea of buying out RJR Nabisco, but CEO Ross Johnson was hesitant. Eventually, he agreed to try an LBO, which would later become the biggest in history. Learn more about RJR Nabisco’s LBO below.