The World's Best Book Summaries
What is EBITDA, and what does it stand for? What’s the importance of EBITDA in business management? For many top CEOs, EBITDA is one of the most vital metrics in business. EBITDA’s meaning in finance is earnings before interest, taxes, depreciation, and amortization, can affect operations and spending power. Keep reading to find out the importance of EBITDA, and one huge EBITDA example.
Have you ever wondered what management top CEOs use to run their companies? Or do you need advice on how to implement them? What are the best business strategies? In The Outsiders, William Thorndike outlines some of the management practices common amongst “outsider” CEOs: top CEOs that clearly succeeded far beyond their competitors. These CEOs all had unorthodox business strategies and practices, and their management practices led to growth and profits.
What is decentralization, and how can it help businesses succeed? What are the advantages of decentralization, and what can they teach you about business strategy? Decentralization is a business practice where executives develop a system to keep decision making limited to a few people. Typically, these businesses don’t have a headquarters with thousands of people in decision making roles, and instead limit decision making power. Read about the advantages of decentralization, and how it worked for top companies.
Investors have been following in the footsteps of business giant Warren Buffett for decades. But what makes Buffett’s company, Berkshire Hathaway history has been marked by constant success and growth. But what makes this happen? Berkshire Hathaway is one of the most successful companies of the modern age, and Buffett is a top investor, adviser, and business leader. Find out Berkshire Hathaway’s history, how it became the company you know today, and how Buffett continues to pursue company growth and excellence.
Why did General Cinema cease to operate after building a successful and diverse company? How can diversifying your portfolio create more value? Even though General Cinema ceased operations in 2006, it is still regarded as one of the most successful companies of the twentieth century. Find out how General Cinema’s CEO Dick Smith increased company value, and then created profit for investors.
How do you take a grow a movie theater company? Dick Smith, CEO of General Cinema, found a way: by expanding into other business associated with movie theaters. General Cinema Theatres was a movie theater company founded in 1922 by Phillip Smith, who expanded drive-in theaters throughout New England and the Midwest. When he died in 1962, his son Dick Smith took over as CEO. Dick Smith further expanded the company’s theater locations, then diversified into unrelated businesses such as beverage bottling and retail.
What was Ralston Purina company, and what made the company so successful leading up to the 2001 Nestle merger? Ralston Purina and its most successful CEO, Bill Stiritz, stuck to unconventional but effective methods of financial management and acquisitions. Ralston Purina was known for it’s analytical, data-driven approach and a strict policy to follow the numbers. This unconventional method clearly led to a big payoff.
Can a business get too big and lose focus? Can that negatively affect profits and share value? Bill Stiritz thought so, and moved swiftly to redefine the focus of Ralston Purina. Ralston Purina was a consumer packaged goods company producing commercial animal feed, consumer pet food, and human foods. With Bill Stiritz, Ralston Purina CEO, the company defined its focus, and worked on acquisitions that fit their profile. In 2001, Ralston merged with Nestle in a transaction worth $10.4 billion. Read on to find out how Bill Stiritz redefined the company and increased its value.
What makes a newspaper successful? How does the Washington Post’s history prove that a publication can succeed both as a business, and for its journalistic merit? The Washington Post’s history was mostly spent as a local newspaper, and Graham sought a way to grow the company, while increasing its journalistic prestige. During her time as CEO, Graham was able to do both, by focusing on the business and hiring the best people to get the job done.
Why was William Anders’ (Bill Anders) work as CEO of General Dynamics Corporation so impactful? What strategies did he employ to make growth possible? William Anders is a former fighter pilot and astronaut. Anders joined General Dynamics to offer a new perspective on the defense company’s tactics following the end of the Cold War. Anders immediately worked to scale back operations, and find ways to grow the company’s value. Learn Bill Anders’ key business strategies at General Dynamics.