The World's Best Book Summaries
What does it mean to have a community in business? How can having a community benefit your company? Having a community in business means having customers who value your company for its mission and have a meaningful connection with your purpose. Knowing how to build a community like this is important for any business owner. Discover how and why to build a community around your business with these tips.
How should you manage a startup company? Where do you find funding for a new company? Whereas large organizations may struggle to innovate, small businesses just starting out often suffer from a lack of managerial expertise. In The Essential Drucker, Peter Drucker explains that people starting new ventures must pay attention to the markets, manage their finances, and install a leadership team. Read more about what’s required of management for startups.
What are the best strategies for leadership succession planning in business? How can succession planning keep your business strong long term? Leadership succession planning involves training employees to take on leadership positions and focusing on the company mission rather than your own personal direction. To lead a business successfully, you need to plan for its long-term success even after you’re gone. Learn how to successfully plan for leadership changes and prepare your company for longevity.
What’s the role of business in society? Can businesses have a negative impact on society? As watching the market and customers should make clear, organizations only exist in the context of a larger community. Therefore, in addition to guiding the inner workings of a business, managers must also set objectives relating to the impact their organization has on the wider world. Continue reading to find out if businesses have a social responsibility they have to uphold.
How important is innovation at Amazon? What are Amazon’s most successful services? The biggest gambles requiring the most judgment revolve around some form of innovation. Jeff Bezos places innovation at the core of Amazon’s identity and culture. Learn more about innovation’s crucial role in keeping Amazon fresh and energized.
Can you learn how to build brand loyalty? What does it take to create loyal customers? To build brand loyalty, you need to have influence in your community. This means that you need to understand how to develop a strong company mission that your customers can connect to. Read on to learn more about creating brand loyalty with social influence.
How do you increase stability in business? Can you structure your company in a way that makes it more stable? Stability in business comes from structuring your processes so that they aren’t dependent on any one person. Knowing how to do this well will make your business more sustainable in the long run. Read on to learn how to increase the stability of your company and improve its longevity.
Can you learn how to sell more products? How can you make more money through sales? To sell more products, you need to know how to attract and keep the right customers. Additionally, understanding how to increase sales margins on each product will help you to increase your earnings. Read on to learn how to make more money in sales.
Why did FTX collapse? What happened on Twitter that got the ball rolling? How did Caroline Ellison make matters worse? Although Sam Bankman-Fried’s cryptocurrency empire skyrocketed in just a few years, its demise was far more sudden and dramatic. Michael Lewis provides an account of the downfall of FTX in his book Going Infinite. Read more to learn how three events on November 6, 2022, led to FTX’s collapse within days.
What do we know about the TSMC business model? How does TSMC make the most of economies of scale in production? The TSMC business model is also called the foundry model, and it centers around optimizing the company for manufacturing while outsourcing design. Understanding the benefits of their model tells us a lot about the advantages of economies of scale and specialization. Read on to discover what makes TSMC’s business model innovative and successful.