Summary of Know-How

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Rating

8

Qualities

  • Applicable

Recommendation

Given the reality of the modern world, business schools and management training programs should offer a class called: "Business Savvy 101: An Overview of Hidden Agendas, Power Struggles and Other Leadership Challenges." Fortunately, Ram Charan offers a tutorial on that subject in this book. He provides excellent insights for aspiring executives and current leaders. Although parts of the text are repetitive, that fault is far outweighed by the value of Charan's concrete examples from brand-name companies. getAbstract recommends this book to readers at all levels of management who want to sharpen their leadership skills.

About the Author

Ram Charan, a business adviser for global corporations, is also the author of What the CEO Wants You to Know and the co-author of Execution. Charan, a frequent public speaker, also writes a biweekly column for Yahoo! Finance.

 

Summary

Cash, Dinner and Shoes

Author Ram Charan acquired a valuable business lesson from a very humble mom-and-pop business in India - his family's shoe shop. The business lesson was simple: If there's no money in the cash register at the end of the day, there will be no dinner. That's the basic "know-how" of every business, no matter how small or large. Savvy corporations can fill their coffers with cash because they constantly tap into clients, market trends and global opportunities. Eight essential tools separate business leaders from boardroom failures and mediocre players. They are:

Tool # 1: "Positioning the Business to Make Money"

Here's the scenario: You run a pet food company and your mission is to create a new brand of cat food that will taste just as good as the food that people eat. You throw your best brains and a lot of money at the assignment. All of that effort produces a dazzling product, with just one issue: In animal taste-tests, cats hated the darn stuff. The kitties' distaste will take a big bite out of your profits. Bottom line: Your company has a problem with its market positioning. With know-how, you recognize that you have a bad product and...


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