MBA in a Nutshell: The Classic Accelerated Learning Program

by Milo Sobel

Overview

Master MBA key concepts without stepping foot in a classroom

Save yourself the thousands of dollars it cost for an MBA education. Dr. Milo Sobel presents core concepts taught in prestigious MBA programs such as Harvard, Wharton, and Stanford—without the heavy price tag and heavier classroom hours.

With MBA in a Nutshell, you can quickly and easily implement essential MBA core curriculum into your professional life—stripping away useless theory and focusing on practical application, which is what you really need to be successful in business.In MBA in a Nutshell, you'll learn how to:

• Accelerate and increase incoming cash flow
• Assess and rank investment opportunities
• Evaluate company performance using financial statements
• Follow step-by-step instruction to draft strategic business plans
• Turn uncertain business forecasts into reliable estimates
• Find ways to increase revenue and profit while dramatically reducing costs

Chock-full of practical examples, formulas, and concepts and skills that can be immediately used and implemented, MBA in a Nutshell is a must-read to build skills to enhance your career and help your company grow and succeed.

Product Details

ISBN-13:	9780071701723
Publisher:	Prentice Hall
Publication date:	01/20/2010
Pages:	312
Product dimensions:	6.44(w) x 9.30(h) x 1.24(d)

About the Author

Dr. Milo Sobel earned his doctorate from Columbia University and his MBA from the City University of New York. He has served as Manager of Training for Citibank, and is a member of the Academy of Management. As a journalist, he has regularly authored featured columns in World Executive's Digest and Chief Executive China. He also serves as Justice of the Peace in his hometown of Weston, Connecticut.

Table of Contents

Acknowledgments xi

Prologue: Orientation to the Program xiii

The MBA "Secrets of Life" xv

1 Marketing and Product Management 1

Differing Schools of Thought 1

Customer Service and Customer Focus 4

The Macroenvironment 8

Dimensions of Buyer Perception 9

Participants in the Buying Process 13

The Rational Buyer Vis-?-Vis the Emotional Buyer 14

Cognitive Dissonance 15

Postpurchase Dissonance (Also Known as "Buyer's Remorse") 15

Dimensions of Market Segmentation 16

Marketing Strategies 17

Product Positioning 18

Marketing Research 20

The Marketing Mix 20

Factors in Marketing Analysis 49

The Marketing and Product Management Checklist 51

2 Accounting and finance 53

Risk Management 53

Financial Statements 55

Tax-Redaction Considerations 63

"Creative" Accounting 67

Internal Control 68

Other People's Money (OPM) 69

Improving Cash Flow 71

Budgets 72

Time Value of Money (Discounted Cash Flow) 73

Investment Appraisal 74

More Alphabet Soup? 77

Key Financial Ratios 82

Lease versus Buy versus Rent 91

Funding 93

Some Tips 102

The Accounting and Finance Checklist 103

3 Human Resources and Operations Management 105

Human Resources Management 105

Dimensions of Managerial Effectiveness 119

Work versus Play 122

Psychological Contracts in the Workplace 124

Line versus Staff 125

Communication 126

Compensation 131

Learning 133

Diversity and Discrimination 136

Crisis Management 137

Operations Management 138

Economies of Scale 140

Crossover Analysis 143

Breakeven Analysis 145

Linear Programming 148

Network Analysis 150

The Pareto Principle: 80/20 Rule 152

Queuing Theory 154

Monte Carlo Simulation 155

Just-in-Time (JIT) Production System 155

Economic Order Quantity (EOQ) and Reorder Point (ROP) 156

The Human Resources Management Checklist 158

The Operations Management Checklist 158

4 Statistics 159

Conducting a Research Project 160

Basic Terminology 163

Key Statistical Measures 166

Standard Deviation, Example 1 170

Standard Deviation, Example 2 172

A Statistical Anecdote: What Is "Normal"? 173

Stories behind the Statistics: Creative Interpretation 173

Regression Analysis 175

Time Series Analysis 177

Exponential Smoothing 178

Other Parametric Statistical Methods 179

Nonparametric Statistical Methods 179

A Reminder 181

The Statistics Checklist 182

5 Economics 183

Macroeconomics 184

Microeconomics 191

The Economics Checklist 198

6 Technology Management 199

Artificial Intelligence (AI) 199

The "Laws" of Computer Technology 201

Database Management 202

Electronic and Automated Information 203

Wireless Technology 205

The Internet 205

Computer-Assisted Manufacturing (CAM) and Mass Customization 206

Smart Card Technology 207

Virtual Reality, Ubiquitous Computing, and Biometrics 208

A Look into the Future 209

Management Information Systems 210

Knowledge Management 210

The High-Tech Challenge to Management 221

Progress through Technology? 224

The Technology Management Checklist 225

7 Business Policy and Ethics 227

Formulation of Ethical Standards 227

Application to Specific Business Issues 231

Contracts 235

Alternative Dispute Resolution (ADR) 236

The Business Policy and Ethics Checklist 237

8 Strategic Planning 239

Objectives, Strategies, and Tactics 240

Establishing Organizational Objectives 244

Establishing Corporate Objectives 246

Creating the Strategic Plan 249

Evaluating the Strategic Plan 255

Forecasting Methods 255

The Strategic Planning Checklist 264

Epilogue: Reflection, Introspection, and Enlightenment 265

Management Decision Making: Art or Science? 265

Postscript: Education and Career Pathing 271

You Are a Product! 271

Do You Really Need an MBA? 274

Choosing an MBA Program 278

Alternatives to the MBA 279

Appendix 1 Recommended Reading 283

Appendix 2 Organizations and Resources 287

Appendix 3 Endnotes 291

Appendix 4 Bibliography 299

Index 303