Harvard Business School Confidential E-Book

Emily Chan

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 349

Veröffentlichungsjahr: 2012

Beschreibung

Harvard Business School is the iconic business school. An admission ticket to HBS is a hot commodity and an HBS degree is highly respected in the business world. Written by an HBS grad and seasoned businesswoman, Harvard Confidential tells you why. It is a distillation of the most valuable and pragmatic but yet easiest to learn concepts taught at HBS. * Distills the best of what HBS has to offer and unveils the secrets to success taught behind Harvard's ivied edifices * Readers will learn what they teach without going to HBS; learn how to think like an HBS grad and gain a head start on what to expect from HBS Emily Chan graduated top of her engineering class at Stanford and has a MBA from Harvard Business School. She is a former consultant with BCG in Boston and Hong Kong, and independent consultant in Greater China. Based in Hong Kong, she is now Director of Pacific Merit Ltd, a family-owned direct investment company.

Leseprobe

Contents

PART I PERSONAL

CHAPTER 1 HOW MONEY WORKS

“GETTING A GOOD JOB IS A DUMB IDEA”

CASH AS YOUR ULTIMATE EMPLOYEE

POSSIBLE SOURCES OF INVESTMENT INCOME (I): REAL ESTATE

POSSIBLE SOURCES OF INVESTMENT INCOME (II): PUBLIC STOCKS

CHAPTER 2 YOU CAN NEGOTIATE ANYTHING

YOU ARE CONSTANTLY NEGOTIATING

UNDERSTAND THE OTHER PARTIES’ REAL INTEREST

KNOW THE BATNA

REFRAME

LISTEN

BUILD A GOLDEN BRIDGE

CHAPTER 3 SPEAK SO PEOPLE WILL LISTEN

“A” FOR ARTICULATE

A PICTURE IS WORTH A THOUSAND WORDS

WHEN YOU’RE IN A HOLE, STOP DIGGING

CHAPTER 4 IT’S WHO YOU KNOW

WHY NETWORK

WHO TO NETWORK WITH

WHERE TO NETWORK

HOW TO NETWORK

CHAPTER 5 IT IS BIGGER THAN YOU

PRIORITIZE

PLAN B

ASS-U-ME—TRITE BUT TRUE

PART II OPERATIONS

CHAPTER 6 PROCESS

THERE IS A PROCESS FOR EVERYTHING

BEST PRACTICE PRINCIPLES

PROCESS MAPPING

CHAPTER 7 HUMAN RESOURCES

AIM TO BE THE STUPIDEST BOSS

HIRE SLOWLY, FIRE DECISIVELY

DON’T PLAY THE SLOT MACHINE

HAVE A POWER TRIP

CHAPTER 8 MARKETING

THE FANTASTIC FOUR P'S

PRODUCT: BETTER FIRST BEST?

PRICE: TO FIGHT OR NOT TO FIGHT

PROMOTION: WHERE IS THE MONEY?

PLACE: WHAT IS THE MAP LIKE?

CHAPTER 9 SALES

PEOPLE: BORN OR MADE, OR BOTH?

PERSPECTIVE: DON’T LOSE IT

PROCESS: MAKE ANYONE A BETTER SALES REP

PERFORMANCE MANAGEMENT: MEASURE TOP, BOTTOM, BACKWARD, FORWARD... ALL DIRECTIONS

CHAPTER 10 FINANCE

PROFIT IS NOT CASH

LET BYGONES BE BYGONES

ASK, NICELY

IPO: THE HOLY GRAIL?

PART III STRATEGY

CHAPTER 11 THE BIG PICTURE

WHAT IS STRATEGY?

PORTER FIVE FORCES FRAMEWORK

PORTER GENERIC STRATEGIES AND PORTER VALUE CHAIN

WHAT GETS MEASURED GETS DONE: THE BALANCED SCORECARD

DIY SKELETON FRAMEWORK: THE TREE

CHAPTER 12 FILLING IN THE BLANKS

WHAT DATA?

WHERE FROM?

THE UNGETTABLES

LOGICAL DEDUCTION USING LIMITED DATA

CONSISTENCY AND TRIANGULATION

LAW OF ACCURACY

KEEP YOUR SENSE OF PERSPECTIVE

CHAPTER 13 “PLANS ARE NOTHING. PLANNING IS EVERYTHING”

BE A STORYTELLER

TIME LINE

THE BIG PICTURE

CHAPTER 14 THE CLASSICS

RAZOR AND BLADE

LOSS LEADER

SOUTHWEST AIRLINES

MERGERS AND ACQUISITIONS

ROLL-UP

READY, FIRE, AIM

EARLY MOVER

BUNDLING

CHAPTER 15 FINAL WORDS

ONLY THE PARANOID SURVIVE

HAVE THE TIME OF YOUR LIFE

STICK TO IT

APPENDIX A: “WHY” AND “SO WHAT”

APPENDIX B: KEY INTERVIEWING TECHNIQUES FOR DATA COLLECTION

SETTING UP THE INTERVIEW

PREPARING FOR THE INTERVIEW

CONDUCTING THE INTERVIEW

AFTER THE INTERVIEW

APPENDIX C: CAGR SHORTCUT

APPENDIX D: CHANGE MANAGEMENT TOOL: DICE

INDEX

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Published in 2009 by John Wiley & Sons (Asia) Pte. Ltd.

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Library of Congress Cataloging-in-Publication Data

ISBN: 9780-470-822395

Typeset in 10/13pt JansonText-Roman by Thomson Digital

10 9 8 7 6 5 4 3 2 1

This book is dedicated to my parents, Peter and Amy and my husband, Vincent

PART I

PERSONAL

1

HOW MONEY WORKS

“GETTING A GOOD JOB IS A DUMB IDEA”

Most parents and teachers would tell you: “Study hard in school, get a good job, receive a good salary, and live happily ever after.” In fact, when I was a senior at Stanford, the only thing my friends could talk about was how to get a good job at a consulting firm or at an investment bank.

There is nothing wrong with getting a good job if you just want a stable life. A good job, by definition, pays well and has good career advancement opportunities. You will save up and eventually will be able to buy a nice place to live in, own a car, and send your kids to school. Although you will most likely always have to be careful with your expenditure to make sure you can pay the mortgage and the school bills, you will still be somewhat comfortable. You will most likely be in the good solid middle or slightly upper middle class.

However, to most Harvard Business School (HBS) students, “getting a good job” is a means, not an end. HBS students do not think of “getting a good job” as the ultimate goal for several reasons:

a. If maximizing wealth is your ultimate goal, then salary is not the most efficient source of income.

HBS teaches you to differentiate between two types of income: linear and investment. Linear income depends on how much time you put in. In a way, it is selling your time at a certain price per unit of time. Salary is a linear income. You put in one month and you get paid for that one month. No more, no less. The more valuable your time is because of your experience, competence, or tenure, the more you get paid per unit of time. But you stop getting paid the moment you stop work.

Investment income, on the other hand, does not depend on how much time you put in. You invest money (and maybe also some time to do due diligence and some follow-up) and you get continuous payoffs. Your income is not directly correlated with how much time you put in. The payoff is not a result of selling your time. Rental income, stock dividends, book royalties, and savings account interest, for example, are investment income streams. You put in money (and maybe some time) in the beginning and then you receive an income year after year. (Now a small test question: If you buy a small fruit shop and stand there selling fruit 12 hours a day, is your monthly income linear or is it an investment income? The answer is linear, because even though you are not working for a salary, If you stop working tomorrow, the fruit stand will have to cease business. But if you invest in the fruit stand and hire someone else to manage it while you just monitor the results as you see fit and pocket the profits, it is investment income).