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John Wiley & Sons, Inc.
TheFast Forward MBAPocket Reference
PAUL A. ARGENT I
TheFast Forward MBAPocket Reference
SECOND EDIT ION
The Tuck School of Business Dartmouth College
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TheFast Forward MBAPocket Reference
TheFast Forward MBAPocket Reference
SECOND EDIT ION
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The Fast Forward MBA Pocket Reference, Second Edition(0-471-22282-8)by Paul A. Argenti
The Fast Forward MBA in Selling(0-471-34854-6)by Joy J.D. Baldridge
The Fast Forward MBA in Financial Planning(0-471-23829-5)by Ed McCarthy
The Fast Forward MBA in Negotiating and Dealmaking(0-471-25698-6)by Roy J. Lewicki and Alexander Hiam
The Fast Forward MBA in Project Management(0-471-32546-5)by Eric Verzuh
The Fast Forward MBA in Business Planning for Growth(0-471-34548-2)by Philip Walcoff
The Fast Forward MBA in Business Communication(0-471-32731-X)by Lauren Vicker and Ron Hein
The Fast Forward MBA in Investing(0-471-24661-1)by John Waggoner
The Fast Forward MBA in Hiring(0-471-24212-8)by Max Messmer
The Fast Forward MBA in Technology Management(0-471-23980-1)by Daniel J. Petrozzo
The Fast Forward MBA in Marketing(0-471-16616-2)by Dallas Murphy
The Fast Forward MBA in Business(0-471-14660-9)by Virginia OBrien
THE FAST FORWARD MBA SERIESThe Fast Forward MBA Series provides time-pressed business profes-sionals and students with concise, one-stop information to help themsolve business problems and make smart, informed business decisions.All of the volumes, written by industry leaders, contain tough ideasmade easy. The published books in this series are:
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John Wiley & Sons, Inc.
TheFast Forward MBAPocket Reference
PAUL A. ARGENT I
TheFast Forward MBAPocket Reference
SECOND EDIT ION
The Tuck School of Business Dartmouth College
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Copyright 2002 by Paul A. Argenti. All rights reserved.
Published by John Wiley & Sons, Inc., New York.Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval systemor transmitted in any form or by any means, electronic, mechanical, photo-copying, recording, scanning or otherwise, except as permitted under Sec-tions 107 or 108 of the 1976 United States Copyright Act, without either theprior written permission of the Publisher, or authorization through paymentof the appropriate per-copy fee to the Copyright Clearance Center, 222 Rose-wood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4744.Requests to the Publisher for permission should be addressed to the Permis-sions Department, John Wiley & Sons, Inc., 605 Third Avenue, New York,NY 10158-0012, (212) 850-6011, fax (212) 850-6008, E-Mail:PERMREQ@WILEY.COM.
This publication is designed to provide accurate and authoritative informa-tion in regard to the subject matter covered. It is sold with the understand-ing that the publisher is not engaged in rendering professional services. Ifprofessional advice or other expert assistance is required, the services of acompetent professional person should be sought.
Wiley also publishes its books in a variety of electronic formats. Some con-tent that appears in print may not be available in electronic books.
ISBN: 0-471-22282-8
Printed in the United States of America.
10 9 8 7 6 5 4 3 2 1
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For my parents, Nick and Elenora
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A B O U T T H E A U T H O R
Professor Paul A. Argenti has taught management and cor-porate communication starting in 1977 at the Harvard Busi-ness School, from 1979 to 1981 at the Columbia BusinessSchool, and since 1981 as a faculty member at DartmouthsTuck School of Business. He has also taught as a visiting pro-fessor at the International University of Japan, the HelsinkiSchool of Economics, and Erasmus University. He currentlyserves as faculty director for the Tuck Leadership Forum andas chair of Tucks Curriculum Committee. He has previouslyserved as faculty director for the Tuck Executive Program(TEP), Update 2000, and for Tucks senior executive programat the Hanoi School of Business in Vietnam.
Professor Argenti has provided management and corporatecommunication consulting and training for over 50 corpora-tions and nonprofit organizations in both the United Statesand abroad over the past 23 years. His clients cover a broadrange that includes Goldman Sachs, Sony, Kmart, and MarthaStewart.
This second edition of Professor Argentis The Fast For-ward MBA Pocket Reference is a revision of the work pub-lished in April 1998 by John Wiley & Sons. He has alsoauthored two editions of his McGraw-Hill/Irwin textbook Cor-porate Communication; the textbook will appear in a thirdedition in 2003. His new book The Power of Corporate Com-munication (coauthored with UCLAs Janis Forman) will be
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published in 2002. Professor Argenti is the editor of ThePortable MBA Desk Reference, a best-seller, which was pub-lished in 1994 by John Wiley & Sons. He has written over 75case studies, and is the author of articles for both academicand managerial journals. Professor Argenti also currentlyserves on the editorial board of Journal of Business Communi-cation and is associate editor of Corporate Reputation Review.He sits on the board of advisors for the Institute for BrandLeadership.
Both The Wall Street Journal (2001) and U.S. News &World Report (1994) have rated Professor Argentis depart-ment number one in the nation. He received a Fulbright Fel-lowship in 1987 to study in England. He also earned anundergraduate degree from Columbia College (in 1975), andgraduate degrees from Brandeis (in 1979) and Columbia (in1981) Universities.
A C K N O W L E D G M E N T S :
A B O U T T H E A U T H O R
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A C K N O W L E D G M E N T S
Writing a book that takes an author beyond his own area ofexpertise leads inevitably to help from others. ProfessorJames Seward from Tuck provided the raw material for thechapters on accounting and finance; Cathy Sirett shaped thechapter on organizational behavior; Mary Munters ideasshaped much of the chapter on communication; SteveLubrano, assistant dean at Tuck, provided the material for thechapter on the job search; Maura Harford, a writer and con-sultant from New York, and Mary Tatmau a former researchassistant here at Tuck were instrumental in creating the otherchapters in the book; and Laura Turner, an undergraduateresearch assistant from Dartmouth, helped immeasurablywith the development of key terms. But this book would havetaken much longer to produce without the incessant cajolingof my most trusted research assistant here at Tuck, AbbeyNova. She made the book come together and deserves creditfor what you hold in your hands. I would also like to thankLorri Hamilton, Kimberley Tait, and Jamie Neidig for theirassistance with this edition. Finally, I would like to thankLarry Alexander and Paula Sinnott at Wiley for their patienceand interest in this second edition.
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C O N T E N T S
INTRODUCTION xv
CHAPTER 1STRATEGY 1Case Example: Redds Fun Park, Hatsville, Texas 2Understanding the Customer 6The BCG Matrix 7Competitor Analysis 9Implementing a Strategy 12Strategic Intent 14Summary 17Internet Resources 18Strategic Management Critical Reference Materials 18
CHAPTER 2COMMUNICATION 23Management Communication 24Communication Strategy 24Managerial Writing 30Cross-Cultural Communication 36Corporate Communication 38Functions within the Discipline of Corporate
Communication 45Summary 48Internet Resources 49Communication Critical Reference Materials 49
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CHAPTER 3MARKETING 53The Customer 54The Buying Process 55Customer Retention 58Customer Satisfaction 58Customer Relationship Management 61Market Segmentation 61The Product 62Summary 76Internet Resources 77Marketing Critical Reference Materials 77
CHAPTER 4ORGANIZATIONAL BEHAVIOR 81Individual Level of AnalysisManaging Individuals 82Group Level of Analysis 96Organizational Level of Analysis 103Summary 108Internet Resources 108Organizational Behavior Critical Reference
Materials 109
CHAPTER 5ECONOMICS 113Macroeconomics 113Leading Economic Indicators 114The Federal Reserve Bank System 118Microeconomics 122Summary 128Internet Resources 129Economics Critical Reference Materials 129
CHAPTER 6ACCOUNTING 133Types of Accounting 133Managerial Accounting 134Financial Accounting 139Financial Statement Analysis 155Uses and Limitations of Ratio Analysis 168Summary 170Internet Resources 170Accounting Critical Reference Materials 171
C O N T E N T S
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CHAPTER 7FINANCE 175Financial Goals of the Modern Corporation 177What Is Financial Management? 178The Role of the Modern Financial Manager 184Management Decisions and Shareholder Value 187A Basic Methodology for Measuring Value 192Recent Innovations in Applied Value Measurement 195Summary 200Internet Resources 201Finance Critical Reference Materials 201
CHAPTER 8ENTREPRENEURSHIP 205The Entrepreneurial Profile 206Entrepreneurial Opportunities 207Business Plans 210Sources of Financing 212Business Forms 215Summary 216Internet Resources 217Entrepreneurship Critical Reference Materials 217
CHAPTER 9INTERNATIONAL BUSINESS 219The Global Marketplace 220The Competitive Advantages Needed for Global
Competition 220The Determinants of National Advantage Model 222Opportunities Associated with a Global Approach
Joint Ventures 223The Backlash Against Globalization 228Summary 229Internet Resources 230International Business Critical Reference Materials 230
CHAPTER 10THE JOB SEARCH 233First, a Coherent Career Plan 235Establishing a Career Plan 235The Online Search 237Resume Writing for Success 237Basic Resume Organization 238
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C O N T E N T S
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