Booked

Business thinking between the covers

Marketing Greatest Hits Vol. 2

by Kevin Duncan

Bloomsbury €12.99

Duncan’s book is a jam-packed compilation of the latest thinking in marketing based on summarises of the key ideas in books written on the subject in recent years. As such, it provides an excellent starting point for those wishing to explore more, or to simply get a bluffers guide to a range of good modern business books.

There are six chapters divided into heading such as: The big issues, chaos and emotion in a crowded world and behavioural economics, the world of irrationality and choice architecture. Each chapter then offers a two-to-three page summary of the messages of a number of books. Theres a one sentence summary of each of the books. Kotler and Casliones 2008 bestseller Chaotics is summarised thus – “turbulence is the new normal so get used to it and build early warning systems”.

Duncan resists putting the boot in to poor management books, restricting himself to covering titles he thinks readers will gain insights from. Given his writing skills and his ability to cut to the chase easily, it would have been more entertaining had he ripped through some of the “turkeys” along the way. Overall, however, this is a very worthwhile book that can be dipped into and that will stimulate further reading.

The Essentials of Management

by Andrew Leigh

Pearson €15.99

Leigh’s book is a good primer for those who have assumed management roles for the first time. Such managers are the subject of a lot of well-meaning advice but three priorities stand out, he says.

Firstly, managers should directly and swiftly address major performance issues in the organisation. You may need to tread carefully, but at least start to tread and don’t stop until you nudge performance back on track. Once people see you as decisive the word will spread and the next task becomes easier.

Secondly, it’s a sign of strength to ask for advice, support and a clear statement of what the boss wants from you, rather than staying below the radar. The third piece of advice is to have the confidence to use your judgement, and avoid succumbing to the paralysis of analysis. This means taking decisions even when you cannot be sure that you are right.

The book deals with the three basic areas of successful performance any manager needs to deal with. These are: management of self, management of others and management of the organisation. Ultimately, it is people, rather than capital, technology or business plans that make organisations succeed, the author says.

Guide to Cash Management

by John Tennent

The Economist €19.99

Tennant’s book is subtitled “how to avoid a business credit crunch” and has chapters ranging over cashflow forecasting, treasury management, working-capital efficiency and dealing with cash surpluses.

It’s an important subject and as the author points out, all of the resources available to a business other than cash have a value to a business that is dependent on their availability, utilisation, market demand and the prevailing market conditions.

The credit crunch highlighted the importance of cash management as those firms that ran short of cash found themselves unable to increase their borrowings, with many going bust as a consequence.

As the author notes, there is a legal responsibility for the management of cash that extends across the whole of a business’s management and it cannot simply be managed by ‘someone in finance’.

While those without a formal training in finance may find some of the observations and charts useful, for the most part, this book simply states the obvious.

Sensible and utterly dull, it reads like a Leaving Certificate textbook and it contains little, if any, original thinking on the subject.