The Every Day MBA: How to Turn World-class Business Thinking Into Everyday Business Brilliance (Chris Dalton, 2014)

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Review: Extensive reach from this book with plenty of proven models that is easy to understand. Covers major content but still lack of holistic MBA essence. Rated: 8.5/10
  • Resilient management
    • Forecasting and planning
    • Organising
    • Commanding or directing
    • Coordinating
    • Developing outputs
    • Controlling (through feedback)
  • First level manager:
    • Learning from doing
    • Learning the ropes
    • Taking on responsibility and decision making
  • Middle manager:
    • An informed curiosity
    • Self-preservation
    • Responsibility for implementing small to medium scale change
  • Senior manager:
    • Stand in place of the founder or owners
    • Translate the vision and set the strategy
    • Keep eyes and ears open
  • Management roles:
    • Informational: disseminate communication
    • Decisional: get things moving and implement change projects
    • Interpersonal: figurehead, motivational leader and connecting network
  • Curiosity and self-awareness
    • Personality: who am I? What is important to me?
    • Proficiency: what am I good at? What do I need to develop? What are my goals?
    • Purpose: what is my contribution to the world?
    • Practice: what action should I take? What’s stopping me?
  • Erikson’s psychosocial life cycle:
    • Infancy: trust vs mistrust, hope
    • Early childhood: autonomy vs shame, will
    • Play age: initiative vs guilt, purpose
    • School age: industry vs inferiority, competence
    • Adolescence: identity vs confusion, fidelity
    • Young adulthood: intimacy vs isolation, love
    • Adulthood/maturity: generativity vs stagnation, care
    • Old age: integrity vs despair: wisdom
  • 7 Habits of highly effective people:
    • Be proactive
    • Begin with the end in mind
    • Put first things first
    • Think win-win
    • Understand first, before trying to be understood
    • Synergise
    • Sharpen the saw
  • Manufacturing processes
    • Ad-hoc project: one-off
    • Job shop: low volume
    • Batch: mid volume
    • Line: large volume
    • Continuous: automated
  • Supply chain success using supply chain operations references (SCOR) process:
    • Source: suppliers
    • Make: value-added production
    • Deliver: customers
    • Plan: all links in the chain
    • Return: handling reverse flow
  • Measure process
    • Flow: performance per period
    • Capacity: production per resource
    • Throughput time (flow) = work in progress (inventory) / throughput rate (capacity)
  • Theory of constraints: effort should be made to manage to the narrowest point in a system
  • Organisation:
    • Agility: speed to major change in environment or in demand
    • Lean: eliminate all waste in input, transformation and output
  • Organisation level:
    • Artefacts: uniforms and branding
    • Espoused: shared beliefs by employees
    • Basic assumption: deeply held values in subconscious
  • Service-sector processes:
    • Professional: high variety, low volume
    • Service shop: customisation with limit
  • Mass: no customisation
  • Hofstede's cultural dimensions theory
    • Power distance: egalitarian vs embraces hierarchy
    • Individualism vs collectivism
    • Masculinity vs femininity: nurture vs power
    • Uncertainty avoidance: comfortable or not
    • Pragmatic vs normative: short vs long term
    • Indulgence vs restraint: 
  • Workplace factor:
    • Political and legal environment
    • Demographics
    • Education
    • Globalisation and international careers
  • Psychological contracts:
    • Relational contracts: loyalty
    • Transactional contracts: pay and performance
  • Team types:
    • Collaborative: output can only be achieved working together
    • Cooperative: everyone in the group to achieve their own goal
  • Team dysfunctional (Patrick Lencioni):
    • Absence of trust
    • Fear of conflict
    • Lack of commitment
    • Avoidance of accountability
    • Inattention of results
  • Team roles (Meredith Belbin):
    • Implementer: disciplined and efficient
    • Team worker: cooperative and diplomatic
    • Plant: creative and problem solver
    • Resource investigator: exploring opportunities
    • Shaper: challenging and overcome obstacles
    • Coordinator: chairperson and delegating
    • Monitor evaluator: strategic and see all options
    • Completer-finisher: painstaking and searching out errors
    • Specialist: dedicated and task-specific knowledge
  • Bath People and Performance' model: direct consequence of ability, motivation and opportunity
  • Accounting
    • Management accounting: planning and decision making to meet the given objective
    • Financial accounting: past performance to analyse and interpret
  • Microeconomic concept
    • Scarcity and utility
    • Forms of competition
    • Costs and revenue
    • Supply and demand curve
    • Economic profit: effectiveness of resources used
  • Financial ratios
    • Profitability ratios: EBITA as percentage of total assets
    • Liquidity, or working capital ratios: can we pay our way?
    • Gearing, or leverage ratios: between debt and equity
    • Productivity ratios: publicly traded companies
  • Strategy
    • Strategic thinking
      • Delicate relationship between organisation and its environment
      • Setting communication goals and ensure survivability through value creation
      • Mid to long-term planning and make irreversible decisions
      • Withstand pressure and learn from mistakes
    • Business associated areas
      • Marketing
      • Strategy
      • Corporate finance and governance
      • Global and international business
  • Marketing
    • Production era > sales era > marketing era > relationship era
      • Marketing strategies (Michael Porter)
      • Cost leadership
      • Differentiation
      • Focus
    • Six market models (Payne Adrian)
      • Customer markets
      • Internal markets
      • Referral markets
      • Influence markets
      • Recruitment markets
      • Supplier/alliance markets
    • Segmentatisation, targeting and positioning
      • Geographic
      • Demographic
      • Psychographic
    • Product life cycle
      • Development
      • Introduction
      • Growth
      • Saturation
      • Maturity
      • Decline
    • Customer retention
      • Quality
      • Standards of service
      • Long-term and personal relationship
      • Measurable returns in term of net present value
    • Tactical as function of business vs. strategic as a business philosophy
  • Trust and reputation
    • Online polls and market research
    • Customer satisfaction indices
    • Financial ratios
    • Internal survey and statistics
    • Social media reports
    • Regulatory compliance and quality certification
  • Strategy drift
    • PESTEL
      • Political
      • Economic
      • Social
      • Technological
      • Environment
      • Legal
    • Five forces model (Porter)
      • Rivalry between firms
      • Threat of new entrants
      • Bargaining power of buyers
      • Threat of substitutes
      • Bargaining power of suppliers
    • Resource based view (RBV)
      • Intangible assets: human capital, skills, experience
      • Tangible assets: equipment, machinery
    • Accessing competitive advantage
      • Architecture
      • Reputation
      • Innovation
    • Choices for growth (Ansoff matrix)
      • Market penetration: existing market/product
      • Market development: new market/product
      • Product development: existing market/product
      • Diversification: new market/product
    • Shareholder management (Mitchell’s stakeholder typology)
      • Dormant
      • Discretionary
      • Demanding
      • Dominant
      • Dangerous
      • Dependent
      • Definitive
      • Non-stakeholders
  • Financial
    • Discounted cash flows (DCF): estimate the value of an investment based on its future cash flows
      • Free cash flow
      • Market value added (MVA)
      • Economic profit
      • Internal rate of return (IRR)
      • Cash flow ROI
    • Net present value (NPV): total present worth of future cash flow discounted at specified rate
    • Opportunity cost of capital (OCC): incremental return on investment that a business foregoes
    • Risk management
      • Unsystematic: industry, sector, company
      • Systematic: the market as a whole
    • Shareholder value analysis (SVA)
    • Value-based management (VBM)
    • Capital structure:
      • Merger or acquisition (M&A)
      • Leverage buyout (LBO): private takeover
      • Spin-off
      • Carve-off/divestment
      • Bankruptcy
    • Governance
      • Moral hazard: take advantage of information
      • Conflict of interest
  • International business
    • IMF or World Bank to balance supply of money
      • Fiscal policy (demand side): taxes
      • Monetary policy (supply side): central bank interest rates
      • Trade and exchange rate policy
    • Internationalisation
      • Export
      • Licence
      • Contractual agreements/joint venture (JV)
      • Foreign direct investment
  • Leadership
    • Leadership grid (Blake Mouton)
      • Impoverished: low concern for people, low concern for task
      • Country club: high concern for people, low concern for task
      • Middle of the road: mid concern for people, mid concern for task
      • Produce or perish: low concern for people, high concern for task
      • Team: high concern for people, high concern for task
    • Transformational leadership (Bernard Bass)
      • Idealised influence: being role model
      • Inspirational motivation: rust and admiration to work harder
      • Individualised consideration: genuine concern
      • Intellectual stimulation: challenging others
    • Influences in 10 ways (Larry Spears)
      • Listening
      • Empathy
      • Healing
      • Awareness
      • Persuasion
      • Conceptualisation
      • Foresight
      • Stewardship
      • Commitment to the growth of people
      • Building community
    • Leadership as systematic phenomenon (Benyamin Lichtenstein)
      • A dis-equilibrium state: imbalance
      • Amplifying actions: small actions can create huge difference
      • Self-organisation: collapse or new order
      • Stabilising feedback: positive feedback cycle
    • Kotter’s eight steps of change
      • Establishing a sense of urgency
      • Creating the guiding coalition
      • Developing a change vision
      • Communicating the vision for buy-in
      • Empowering broad-based action
      • Generating short-term wins
      • Never letting up
      • Incorporating changes into culture
  • Entrepreneurship
    • Global entrepreneurship monitor (GEM)
      • Factor-driven development: in least developed economies
      • Efficiency-driven development: productivity and economic standards are already on the rise
      • Innovation-driven development: knowledge is source and end-product
    • Innovation
      • New goods or services
      • New methods or ways for existing goods and services
      • Finding and opening new markets
      • Finding new sources of supply
      • Reorganising processes or disrupting operations
    • Traits of entrepreneur
      • An ability to act quickly
      • An ambition to shake things up
    • New business ideas
      • Flash of inspiration
      • Hard-working creativity
      • Opportunity from needs
    • Business model canvas
      • Key partners
      • Key activities
      • Key resources
      • Value propositions
      • Customer segments
      • Customer relations
      • Channels
      • Cost structure
      • Revenue streams
  • Corporate social responsibility (CSR)
    • Carroll’s hierarchy of CSR aims
      • Economic: be profitable
      • Legal: obey the law
      • Ethical
      • Philanthropic: be a good corporate citizen
    • Elkington’s triple bottom line (3BL)
      • People: quality of life
      • Profits: economic growth
      • Planet: resources use, bio-diversity, ecology


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