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TitleThe 30 Day MBA Learn the Essential Top Business School Concepts, Skills and Language Whilst Keeping Your Job and Your Cash
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Document Text Contents
Page 1

ISBN,978-0-7494-5412-8.eps


The business world is full of conflicting theories and ideas on how organizations could or should
work, and how they could be made to work better. However, the subject of business can be
condensed down to 12 fundamental disciplines. These core disciplines make up the subject
matter of an MBA programme and form the content of this book.

The Thirty-Day MBA will show you how to use key business concepts and tools to assess a
business situation, and make and implement successful decisions. Using The Thirty-Day MBA
you will:

• find out what an MBA student studies at a top business school and why having that
knowledge is essential to your career progression;

• gain a comprehensive understanding of the 12 core business disciplines and how to
use them;

• be equipped to take part in strategic decisions, alongside MBA graduates;
• be able to create your own Management Information Resource Centre giving you access to

business information on markets and competitors, research data and case studies;
• download hundreds of FREE business tools to help you carry out economic, financial,

marketing and quantitative analysis – and much more;
• learn how to update your skills and knowledge, both for free and by taking short inexpensive

courses at top business schools worldwide;
• have a one-stop revision guide to help with your exams, if and when you do take an MBA or

other general management programme.

Incorporating case examples and links to online self-assessment tests, as well as providing you
with the information to choose the best business school for your needs, this comprehensive new
title places MBA skills within reach of all professionals and students, and is essential reading.

Colin Barrow MBA, FRSA, spent 15 years managing businesses across the globe, applying
the principles and knowledge gained from his own MBA. He then returned to the business school
world to teach and research in some of the top schools in the United Kingdom, Europe, the United
States and Asia. Until recently, he was Head of the Enterprise Group at the Cranfield School of
Management. As well as being a non-executive director in a number of businesses, he is visiting
professor at several international business schools. He has authored numerous business books
including The Business Plan Workbook and Practical Financial Management (both published by
Kogan Page).

Kogan Page
120 Pentonville Road
London N1 9JN
United Kingdom
www.koganpage.com

Kogan Page US
525 South 4th Street, #241
Philadelphia PA 19147
USA 9 7 8 0 7 4 9 4 5 4 1 2 8

£15.99
US $29.95

Business and management

COLIN BARROW
COLIN BARROW

Learn the essential top business
school concepts, skills and
language whilst keeping your job
and your cash

30DAYMBA
THE 30 DAY M

BA

THE

ISBN 978-0-7494-5412-8

30-day_mba_aw.qxd:Layout 1 4/3/09 09:50 Page 1

Page 2

COLIN BARROW

30DAYMBA
THE

Learn the essential top business
school concepts, skills and

language whilst keeping your job
and your cash

London and Philadelphia

Page 160

Organizational Behaviour 153

areas may involve training people up. Confidential or disciplinary
work, tasks with strategic or legal and regulatory implications, are not
likely candidates.

 Don’t just select unpopular and tedious tasks to dump on others. Pass
on worthwhile work that will genuinely widen experience and skills.

 Choose who to delegate to: Ideally someone with the right skill set,
who is not already overloaded and who is likely to stay around long
enough for the organization to gain from the experience too.

 Discuss the changes with the person concerned, get their commitment
and then let everyone in the relevant part of the organization know
about the change in role and why.

 The subordinate concerned must be given the authority to do the job
and to make independent decisions.

 Follow up soon and review frequently to make sure the tasks delegated
are being done satisfactorily and that no other work is suffering.

 Reward appropriately for a successful delegation.
 Communicate the success to the team to reinforce the value of taking on

additional responsibilities, personal development and the opportunities
for career progression.

SYSTEMS
If the structure is the skeleton and people are the blood and guts, systems
are the rules and procedures that enable an organization to function effect-
ively and to prepare itself for the changes ahead.

While money is more a hygiene factor than a motivator, people come to
work to get paid and if they achieve great results they expect great rewards.
There is no single aspect of an employee’s life more susceptible to gripes
and complaints than pay. So how can you make sure that doesn’t happen in
your organization?

 First, make sure you are paying at least the going rate for the job in
the area. Don’t think you are ge�ing a bargain if you get an employee
to work for less than that figure; if they do, either they are not good at
their job, a poor time keeper or have some other disability that you will
find out about later; or they are good and when they find out they will
feel cheated and leave. The easiest way to find the going rate is to look
at advertisements for similar jobs in your area or visit PayScale (www.
payscale.com > FOR EMPLOYERS) where you can get accurate real-
time information on pay scales.

Page 161

154 The Thirty-Day MBA

 Include an element of incentive for achieving measurable goals. This
could be commission, perhaps the easiest reward system, but it really
only works for those directly involved in selling. Or a bonus for success-
ful performance, usually paid in a lump sum related as closely as pos-
sible to the results obtained. The Chartered Institute of Personnel and
Development (www.cipd.co.uk > Subjects > Pay and reward) gives
further guidance on a comprehensive range of reward options.

 Benefits in kind are a form of compensation that is not part of basic
pay and that isn’t tied directly to their performance. Pension, work-
ing conditions, being allowed to wear casual dress, on-site childcare,
personal development training, company product discounts, flexible
hours, telecommuting and fitness facilities are all on the list of benefits
that are on offer in certain jobs today. There may be tax implications
on benefits in kind and the Digita Use of employer’s assets: benefits in
kind calculator (www.digita.com/tiscali/home/calculators/employersa
ssetscalculator/default. asp) will help work out if tax is due and if so
how much.

 Team awards can be used to engender be�er teamwork. Where money
is involved it should be spent on things of value to the team. It could be
an evening out, or any other social event. It could also be used to buy
a business asset that’s nice to have but could not really be justified on
business grounds, for example a dedicated photocopier.

An appraisal is almost certainly an MBA’s first point of contact with an
organization’s systems and the most likely one to cause dissatisfaction and
frustration. Although supposedly not about blame, reward or even praise,
that’s how it ends up. Its output is a personal development plan to help
everyone perform be�er and be able to achieve career goals.
There are plenty of standard appraisal systems and procedures; many
are li�le more than a tick boxes and rating process; others are built around
buzzwords such as ‘360 degree appraisals’, meaning that staff below and
above as well as peers have an input into the process.
There are really only four ground rules for successful appraisals:

 The appraisal needs to be seen as an open two-way discussion between
people who work together, rather than simply a boss/subordinate re-
lationship, and prepared for in advance. Discussion should be focused
on achievements, areas for improvement, overall performance, training
and development, and career expectations and not salary (that’s for a
separate occasion).

 It should be results oriented rather than personality oriented. The ap-
praisal interview starts with a review against objectives and finishes by
se�ing objectives for the next period.

Page 320

Index 313

podcast 103, 280–84
policies 98, 147, 192, 207, 209–11, 262
Porter, Michael 6, 13, 263, 268–69
positive cash flow 271 cash
preference

dividends 42
share 61

Prêt à Manger 63, 219
price

earnings ratio 46
levels 197
sensitivity 269

Princeton University 255, 263
6, 233,

242
private

companies 49, 131, 179
equity firms 66

probability 182, 247–48
problem solving 247, 305–06
Procter & Gamble 219, 267
procurement 284
product

adoption cycle 98
life cycle 95–96
mix 239, 273
new 3, 41, 98, 111, 214, 248–49, 270–71,

273
portfolio 267

production 2, 5, 6, 84, 96, 130, 147, 149,
214, 227–28, 233, 235–36, 239, 264, 274

productivity 140–41, 161, 213, 233, 273
profit

and loss account 33
and loss projection 80
margins 28, 48, 79, 274
performance 39
ratios 42

profitability 41–42
project appraisals 71
promotion 10, 94, 96–97, 101, 113, 147, 180
promotion 101, 137
property 20, 29, 55, 57, 190, 202–03
proxy 12, 201, 267
prudent 55, 191
public companies 23, 49, 65, 67, 130–31,

136, 176
purpose pyramid 144
push or pull 104–05, 107

qualitative research 80, 246–47, 249, 251,
253, 255–57, 259

quality 7, 41, 85, 93, 145, 189, 198, 235,
242–43, 245, 294, 300, 302, 304

circles 243
control 235, 242

quantitative research and analysis 3,
246–47, 255, 258

questionnaire design 118, 259
queuing theory 239

random sample 216, 259
rankings 7, 58, 83, 262, 301–04
rate of return 70, 77
ratios 3, 40–52, 55, 64
realization concept 20
recession 168, 203, 207–08, 224
recruitment 124, 132, 134, 183
reputation 87, 97, 169, 188, 229
research method 256
reserves 32–33, 37–38, 40–41, 43, 45, 60–61,

126, 137
restructuring process 93
retail price index (RPI) 205
retained earnings 53 reserves
return on investment (ROI) 50
return on investment pyramid 273
revenues 31, 126, 194, 262, 285
rewards 55, 62, 118, 120, 140, 153–54
risk capital 62, 68 equity
risk-free money 60, 71
risks 5, 40–41, 45, 48, 53, 55, 59, 61-62, 68,

70, 72, 77, 112, 173, 184, 270
R-squared 254

Sainsbury 83, 93
salary 6, 7, 12, 132, 139, 193, 208–09, 303-

304
saleable proposition 88
sales

budget 80
forecast 80, 252
goals 25, 79
and Marketing Manufacturing 126
strategy 286

Sarbanes–Oxley 22–23, 230
satisfactory return 40–41, 48
SBU (Strategic Business Unit) 126
sca�er diagram 254
scientific management 6, 233, 242
SCORE 31
search engines 103–04, 189, 290
Securities Exchange Commission 39
segmenting markets 90–93
selection 120, 124, 132, 137, 147, 189
self-assessment tests 279
self-deception 216, 256
selfishness 221
selling 108–10, 182, 244
service

business 239
industries 292

Page 321

314 Index

setbacks 45, 262
share

buyback 68
capital 32, 40, 43, 45, 53–54, 60, 173, 178

shared goals 6, 124
sixteen PF (personality factors) 137
skills 3, 11, 13, 15, 123, 135, 155–56, 167–68,

176, 181, 235, 243, 247, 278, 305
skim strategy 98
slogan 96, 188–89
slump 201–02 boom
SMART objectives 149
Smith, Adam 196, 221, 235
social responsibility 3, 4, 176, 221, 223–25,

227, 229, 231–32
span of control 123
spreadsheets 27, 51, 77, 277
staff line managers

functions 77, 123
organization chart 124

stagflation 205
stakeholder

groups 150, 224, 226, 227–29, 259
relevance matrix 227

standard deviations 251–52
Stanford Graduate School 168, 217, 226, 265
start-ups 186, 219
statistics 12, 82, 103, 134, 136, 215, 242, 245,

249–51, 253, 287, 298
stock 23, 70, 172, 240 FIFO LIFO
stock market 23, 39, 46, 49, 61, 65–68, 185,

204 AIM
Straight Plc 28–29
strategic analysis 85
strategic business unit (SBU) 126
strategy tool 265
structures 30, 121–22, 124, 126, 132, 153,

166, 274, 286
students t-test 254
succession planning 126–27
superior performance 99
supply chain 230, 262, 274
surveys 12, 68, 118, 161, 218, 223, 247, 249,

257, 259, 267, 303
survival capabilities 41
sustainability 223
SWOT analysis 84–85, 269
systems 6, 69, 88, 121, 149, 153, 160, 167,

184, 243, 245, 262

Takeover 61, 65, 179, 224
target rate 62
tax law 191

teams 5, 67, 110, 124, 127–30, 140, 152, 204,
218, 220, 226–27, 264

technology 2, 4, 94, 128, 141, 160, 171, 199,
203, 214, 219, 230, 241, 271, 282–83, 299

term sheet 64–65
Tesco 49, 83, 108, 244
Theory X and Theory Y 141–42
threats 12, 41, 84, 269
three–sixty degree appraisals 154
TNA (training needs analysis) 155
total quality management (TQM) 243

quality six sigma
track record 67
trade associations 113, 117, 298
training 27, 73, 124, 127, 147, 155-56, 184,

244–45, 258
triangulation 259
Tuck School of Business 7, 223, 302

unemployment 208, 210
unfair dismissal 184–85
unintended consequences 196
uniqueness 107, 150
Universität St Gallen 287
University of Michigan 272, 285
unproductive workers 210
unreasonable assumption 24
USP (Unique Selling Proposition) 85, 96

value-based management 150
value chain 82, 234–35, 294
value investing 279
variable costs 51, 273
variances 77–78, 80
VAT 25, 34, 176, 194, 214, 286
VMI (vendor managed inventory) 108
venture capital 62–63, 204, 219, 280

weaknesses 3, 47, 56, 71, 84–85, 269, 272
221, 235

web surveys 113, 118, 259
weighted average 201, 246, 304
Wharton University of Pennsylvania 6, 243,

279, 283–85, 302, 305
what if projections 27
whistle-blowing 231
work environment 226
world stock markets 68

Yahoo 133
Yale School of Management 284

zero coupon bonds 58

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