Economics Books

The book provides a sophisticated yet practical approach to Corporate Portfolio Management (CPM) which invites managers to consider many facets that will challenge or support the CPM initiatives.

My favorite part is the section where Sanwal lists "the deadly sins" of CPM. These negative examples provide managers tools to anticipate organizational difficulties and adjust their proposals on CPM proactively.

The book highlights a significant problem in the corporate world. The seven deadly sins section idenitifies key challenges found in many companies while the case studies provide real world examples of those leading the charge. Good job!

Definitely one of the best books that I have read on the subject! It combines well the academic aspects of portfolio management with honest insights into corporate realities. And the well-paced narrative makes it a great read!

I lead my company's IT portfolio management effort, and this is one of the most well-written strategy books I've ever come across. It does an amazingly good job of demystifying what can be a complex topic.

Major pros of the book:
- No jargon, acronyms and generally useless platitudes and overgeneralized frameworks like I've seen in other books on the topic. Straightforward, conversational tone makes the book very easy to read.
- Very practitioner oriented
- American Express case study - What the company has achieved is remarkable and definitely the best example I've seen
- 7.5 deadly sins of corporate portfolio management - These were spot on

Optimizing Corporate Portfolio Management: Aligning Investment Proposals with Organizational Strategy

Alike most readers who have reviewed the book on these pages, I approached "Optimizing Corporate Portfolio Management" with much gusto. Despite the catchy title, I soon discovered that the stake did not match the sizzle.

What is undobtedly the most valuable contribution of the book is its practical approach to managing corporations as portfolios. The book contains a number of proven examples that a pactitioner is sure to find useful. This is also what the author promises to do: to write a book from the point of view of a practitioner for the purposes of enlightening a fellow practitioner. So much so good.

From the perspective of an (customer) portfolio management expert (i.e. advanced level practitioner), I found the book quite "light" on all of the key words in the title: corporate portfolio management, aligning investment proposals, and organizational strategy. In more practical terms, the book does not manage to answer the question stated on the cover: how to align investment proposals with organizational strategy?

All in all, I find the book an OK source if you are an absolute beginner and need to get a first glimpse of the subject matter. For anyone with more ambitious aims, the book may not live up to its promise.

While the advice on making money is not revolutionary, the book is well written and well organized. The title is a little misleading as the book does not describe a perfect business but instead seeks to offer some inspiration and some sound advice about creating a low overhead micro enterprise.

If you do not have a lot of experience in business and are considering starting your own enterprise, the book is worth your time to read. It will help to inspire you and give you a useful roadmap on the journey to find a perfect business for you.

This book was great for explaining practical ponts about making it in your business independently. The best feature of the book is the inspirational tone and content. The book lifts your spirits and encourages you. It is not a How To book, but rather a "You CAN!" book.

Some of his earlier books were a little light, but this one is excellent and I highly recommend your reading it. My copy is heavily underlined.

He covers a lot of territory and synthesizes this material down to essential points. The book is interesting to read.

You might want to also read "Getting Business to Come to You" by Paul Edwards, Sarah Edwards, Laura Clampitt Douglas, Laura Clampitt. This is an excellent book on starting up a small business. And, don't forget Don Lancasters "Incredible Secret Money Machine" regarding making money from technical crafts.

You should also read any of the E-Myth books by Michael E. Gerber - who takes a different view... that of creating a growing company with employees. Comparing these views will help you decide your course of action.

This book by LeBoeuf will remain in my library for periodically reviewed books.

John Dunbar
Sugar Land, TX

The Perfect Business by Michael Leboeuf is a very comprehensice book about starting a home-based business.

It did not give you specific example of what business to start, but rather, he gives tips on networking, marketing, self-discipline etc. If you are looking for a all-in-one type of business guidiance book, this may be the one.

However, some of the stuff Michael talks about are just stating the obvious, like sell something that customers want to buy and not what you like (isn't this obvious?). The chapter on buying office equipments, I think, is a waste of time.

All in all, I hope to see some specfic example, but were disappointed. But still, this is quite an inspirational book.

I would give this book a perfect score were it not for the fact that the title and cover material does not represent the book's contents entirely accurately, so some readers may feel misled. The book presents itself as a practical guide for home-based businesses when in fact it is more of a self-help success guide in the genre of "Think and Grow Rich". This may be exactly what most aspiring home-businesspeople need; still, I would imagine that readers seeking practical specifics may be disappointed.

As a self-help success guide, however, this is a fantastic book; one of the best I've ever read. It contains no original or revolutionary ideas. Instead, it distills the best ideas of the countless success manuals written over the past 100 years into a clear and logically consistent philosophy, and applies this philosophy to the subject of self-employment.

Samuel Freshman's "Principles of Real Estate Syndication" covers the syndication process and all related issues from A to Z. The book is extremely informative and a must for anyone who wants to get into the syndication business... and even for those who already are. It is clearly written and concise... the exhibits are especially helpful.

Practical and accessible information that anyone can understand and apply. Mr. Freshman illustates his points in a way that makes his points clear even to a beginner. It's a must-read for anyone who is looking to venture into this area.

Sam Freshman has an amazing ability to communicate so much with an economy of words even the "freshman" real estate buff can appreciate. His book and his wisdom are worth every penny and more.

Throw out all the your get rich quick guides! This book explains in simple and easy to understand language the preparation, execution, and practices that must be taken to become successful in the field. I truly believe this book, if properly followed, can make anybody who reads it substantial amounts of money.

Whether you're an experienced real estate investor, an aspiring real estate investor or simply interested in learning how to generate wealth through the art of real estate syndication, this book is a must-read. The author of this book, Samuel K. Freshman, is speaking from experience when he sets out the blue print for making money through real estate investment and syndication. His no-nonsense, non-hyped and practical writing style and advise makes this book an easy and interesting read. If you are serious about making money in real estate, read this book.

This book is very detailed and to the point. It covers all areas of the restaurant business. Then menu planning section is great. It gives so much foresight.

Doug Brown's Handbook is a must-have for all restaurant managers and prospective owners. I wish I'd had this when I first started out, but you can be sure it will be required reading for all my managers!

Ordering directly from his Atlantic Publishing Group is the way to go - it arrived quickly and in perfect condition.

Thanks, Doug.

Now in a completely revised and thoroughly updated third edition, The Restaurant Manager's Handbook: How To Set Up, Operate And Manage A Financially Successful Food Service Operation by Douglas Robert Brown is a solid, no-nonsense, all-encompassing curriculum to teaching oneself the basics of the restaurant business. An exhaustive compendium of step-by-step instructions, advice, checklists, legal issues, as well as encompassing an extensive listing of state restaurant associations (and so much more!) fill the pages of this "must-have" reference for anyone with a serious and dedicated interest in the dynamics of food service oriented small business ownership. A companion CD-ROM with printable versions of all the handy and useful sample forms is included.

this is a solid, almost academic, handbook. it's points you toward the things you need to figure out but you'll still need to get additional information on your local regulations. personnaly, it discouraged me from opening a buisness at this time.

The Restaurant Manager's Handbook is a no-nonsense, coverall manual for the food establishment industry. It's the essence of a successful handbook-no jokes, parables, and preachy lectures, just the facts. If you delve into the heal-thy index for fault, you'll abruptly bump into a page number for an answer, and if you're currently running a restaurant and afraid to appear inadequate, you can load the handy CD-ROM and pretend you're checking your e-mail while figur-ing out the monthly audit procedures or why the beer is flat. I'm not kidding. The next time your favorite kitchen runs short of the daily special or closes down for a lack of permit, serve them a copy of this great reference book.

I have found this book to be very helpful for me and friends concerning retirement planning. It is easy to read, factual and provides good information. I have given several copies of this book to friends who are nearing retirement and I have yet to hear anything negative about the book. It doesn't answer all the questions about a very tough topic but it is a very good retirement planning tool to have.

As a babyboomer, I am concerned about my ability to be able tor etire comfortably. Too many other books repeat stale, outmoded advice. Some people I know have followed advice from 'financial experts' and newsmagazine columnists and their retirement accounts are still bleeding red for the last 6 years.

For starters, Savage like Suzie Orman is a true expert. She has studied personal finance and investing. She doesn't just write about personal finance, she lives it.

Savage recommends diversification in good investments. What really caught my eye was here advice on writing covered calls. Too few so called financial 'experts' talk about covered calls. It is one of the best ways to make money off your stocks without selling them. It is also one of the best ways to recoup losses from your stocks. Covered calls can provide better income than say dividend stocks and dividend stocks are a better strategy than leaving your money in savings accounts, cd's, saving bonds or money market accounts.

Terry Savage offers sound advice. I'm following it myself. This new book by Terry Savage is must reading for everyone and remember, it is never too early or too late to start. If you have made some mistakes or a late starter, then I recommend The Savage Number all the more! Great book. Thank you Terry!

Book publishers know a good thing when they see it. That explains why there is yet another book on Baby Boomer retirement planning. But, fear not, "Savage" isn't the description of a fierce retirement savings program that will bite you in the wallet; it's the name of the author: Terry Savage, a personal finance newspaper columnist. In this case, she seems to have linked many of her columns together to form a basic book for novice investors who are planning for retirement. While much of the content may seem very familiar to anyone who reads mainstream financial publications, having it in book form is convenient. We recommend Savage's nuts-and-bolts information to people who are just entering the workforce, novice investors, financial planners and human resource people concerned about issues affecting retirees. It is also a handy quick reference for questions about Medicare, reverse mortgages, long-term health insurance or estate planning. If you are on the verge of retirement, it's a good refresher, although you needed to know most of this some time ago.

I have purchased and read more than a dozen books resently on personal finance. Almost everyone will get something helpful out of this book. I would say for at least 80% of the Baby Boomers this should be a must read book. The link to Financial Engines is worth more that ten times the price of the book.

I also like All About Asset Allocation by Richard Ferri, and all of Ben Stein's books!

My plan is to retire in five years. I have been reading and studying several books to make sure that I am on the right track. I would recommend this book because it gives you a pretty clear picture of what you need to be considering prior to your actual retirement.

This is a great read for anyone, not just business owners or entrepreneurs.

A quick, concise guide to identify and document your strengths AND weaknesses and help you construct a realistic and achievable plan to get you where you want to be.

I could definitely relate to the real life predicaments Mr. Fishman writes about and how these issues were resolved. You will find that many of these real life experiences remind you of yourself or someone you know.

The book gave me a new awareness and understanding of some aspects of my life I had not thought of before. And as a result, it motivated me to implement some of the ideas to take action to improve my life.

We can all benefit from the fresh ideas and techniques Mr. Fishman shares to improve our creativity, communication, goal setting, and negotiating. I recommend 7 Secrets of Great Entrepreneurial Masters to everyone.

The tips I received from reading this book have helped me understand the importance of revisiting my goals and objectives. Not only did it help me improve my business by updating my action plans, but it reminded me of my personal desires for my business, which really motivated me. Fishman does an exceptional job explaining his ideas by relating them to real life experiences.

So many business books are great in theory, but the translation of the message can be lost in practical, day-to-day experiences. The 7 Secrets is different, because it not only illustrates the individual secrets with real-life scenarios and experiences, but reference checklists for how to incorporate the 7 Secrets into your professional life. Fishman's understanding of how busy and sometimes hectic an entrepreneur's life is evident.

I found this book helped identify what will make me happy on all levels in life. It is a practical tool for anyone in business that is looking for balance between work and personal life. It helped me define why I work so hard to get what I want. Allen Fishman has created a useful guide for walking the path of life as an entrepreneur. A must read for all business owners, add this book to your arsenal.

It has been said that, if you honk your own horn, no one will want to do it for you. This is a book about horn honking.

This book shows an ego at work that is big enough to fill the universe yet small enough to dwell in your heart. Before you reach page 15 of this book, you will have seen over 150 different tidbits of inside information from the author such he loves his mom, he loves his dad, he loves his two daughters, he loves his son in law, he loves his friends and his dreams have been satisfied beyond his wildest expectations. He mentions seven times that he lives in Aspen (all this before we reach page 15) and we are told several times that he hikes, bikes and rides ski lifts. Unfortunately in all of this verbiage we find no mention of his wife or the mother of his daughters. How can a life be so successful and happy without learning how to love another of our Heavenly Father's Creations? Fishman shows us what a ego on display is all about.

There is insight that can be gained from this book and you will find it right there in the Conclusion at the end of the book where you don't have to wade through the "I am happy and successful and live in Aspen, Colorado" drivel. However, the real story of this book is one that hasn't been told and that involves the Power of Persuasion. How did Fishman get McGraw - Hill to publish this book? Had he chosen to discuss his talent of persuasion, he might have come up with a different title than one that appears to be a Stephen Covey knockoff.

I guess that's what the intent of this book and it gives examples from an expert in Training. The articles from several experts in the field of training also supports the content and adds value.
Recommended if you need an overview, although in some chapters goes into details. Yet, there are several other books that focus on preparation, presentation, evaluation etc. which might be more focused on these topics.

I am a project management trainer. This book gives and reminds all the things. What the trainer is, adults learn, the training cycle, increasing participation, icebreakers etc... In fact I like the "dummies" series. I recommend it.

Although I've been a trainer for years, this book reminded me of some basic training concepts I have not used in a while.

One of the pitfalls of being a training specialist for such a long time is that it is easy to become complacent with your knowledge level and your writing habits. "Training for Dummies," which should be titled "Training for Schmarties" is one of those books that will help you avoid that.

Author, Elaine Biech covers the instructional systems design model (ISD) or A.D.D.I.E., in detail. These are analysis, design, development, implementation, and evaluation. She states the difference between what it means to be a teacher vs. being a trainer. This is one of the only texts I have seen that offers some construction of an instructional design draft, although I wish she would have shown and explained a two-column format in depth. She did provide samples of a three- and four-column format.

Biech goes into overdrive regarding implementation from room set-up, the things that could go wrong, dealing with nervousness, and handling the disruptive influence, all types of them, to mention just a few. She also covers the four (or five if you prefer) levels of evaluation superbly.

One area I was hoping that she would address is how trainers can deal with managers who make disastrous training decisions that will be a supreme waste of time and money, but will blame the trainer rather than recognizing their decision as the reason for failure. (I was once asked to do training to control or reduce absenteeism. Thank God, he had a poor memory)! This is a constant uphill battle for trainers and I see half-hearted training efforts squandered on almost a weekly basis. (If you're out there reading this, no, you can't have Team Building in only one day Why? Because it's not enough time to build teams, dummy)!

I have a few dozen texts on training. If you could only have one of them, this would be the one I would give you. If you're serious about training, it is one book you need to keep on your table instead of your shelf.

Remember...

No train, no gain.



P.S. Don't get overconfident if you have a full seminar in Hawaii or Scottsdale, AZ. They might have other reasons for being there.

Don't feel silly for getting this book just because it says "for dummies."
I have a masters in training so I wouldn't say I am a dummy in the field, and I believe this book is a fantastic resource to remind you of many training techniques and principles. I Def. Recommend!!!!

I purchased this book for a class on Leadership, and while it might not have been a book I would have selected, it does have some interesting, real-life examples of situations while explaining some basic leadership skills.

The two greatest strengths of Michael A. Roberto's book are its honesty and clarity. He admits that most people are uncomfortable with conflict and that many well-intentioned leaders shut down dissent. He's also honest about how likely it is that things will go wrong along the way, at least temporarily. Fortunately, he's also very clear about steps you can take to guide conflict in a productive direction, and why this matters. Roberto analyzes several well-known examples of bad decision making and shows how the absence of dissent or institutional mechanisms that insulated decision makers from essential - though not necessarily positive - information created serious problems. The list is long and chilling: President John F. Kennedy and the Bay of Pigs, President Lyndon B. Johnson and Vietnam, NASA and the Columbia shuttle explosion. His discussions will give you a powerful desire to review your organization's decision-making processes and, more generally, its culture. As Roberto himself readily admits, his techniques are not cure-alls, nor easy, but they will lead to improvements. We recommend this book to managers with decision-making responsibilities and to anyone who is committed to improving organizational functioning.

Michael Roberto provides a book that can help not only managers, but employees at all levels. Yes-men and Yes-women not only promote (self-promote), and perpetuate their self-interests and its negative effects by what they say, but also by what they *don't* say. This is often as much as or more detrimental. Most of of us have witnessed this no matter where we work, no matter how big or small our organization is.

The 1986 NASA Space Shuttle disaster noted in this book was a prime example. Several investigations and studies examined the thought and decision-making process that caused this debacle. What led to this unnecessary and horrific tragedy? The decision-making process (along with its machismo). This calamity was one-hundred percent avoidable. Launching the Challenger in the first place is considered a criminal act by many.

Roberto uses variety in this exploration and in-depth study of the decision-making process. Appropriate coverage of MLB General Managers is also examined. Sport GMs have to make difficult decisions based upon current market value and and the collective needs, yet also assess what the potential in the near, mid, and long-term future will be. Other critical
examples cited are decision made by politicians. These individuals make decisions that affect the lives and death, of up to hundreds of thousands and perhaps millions, of people. Author Roberto's classic example was LBJ, and how he stifled and belittled those who dissented and raised questions to his disastrous and failed policies in South East Asia in the 1960s.

There are four parts in this book with nine chapters.


Assumptions:

We all make them. No matter who we are, or what situation we're in, we make assumptions. There is an old saying: "assumptions are the mother of all f-ups." Our assumptions need to be tested and checked by others. In today's world - organizations - make many of the major decisions: collective decision making. Providing the proper quality of environment (local to larger corporate culture and management style) that leads to *how* these decisions are made is the focus.

Roberto lists the five myths of decision-making, which are followed up by the "truths" about how decisions are made. Appropriate dissent and debate is needed and critical in today's rapidly changing environment. People who will ultimately make the decision need to ask themselves: "how honest are folks being with me?" Especially when debating, negotiating, and attempting to build a consensus for making the best decision and executing it.

This is one of the many reasons this book can help employees,
team-leaders, project managers, lower, mid, and upper level managers. Those who participate, question, and seek the best solutions get kicked upstairs. Yes-men don't get kicked upstairs, and for good reason.

Those with control should leave their egos at home and focus not necessarily on the "what" but the "how." This books will be helpful and provide results if one wants it to.

Years ago, George Reedy wrote a book, The Imperial Presidency, about his association with President Lyndon Johnson. As I read that book, I was reminded of Hans Christian Anderson's "The Emperor's New Clothes." Recently, as I read Michael Roberto's book, I was again reminded of Anderson's tale as well as Reedy's book. Emperors, presidents, CEOs, etc. who discourage, indeed punish dissent deny themselves access to information, perspectives, opinions, and suggestions which they may need when making difficult decisions. As a result, they as well as those for whom they are responsible are vulnerable to the consequences of bad decisions which can include making no decision whatsoever.

I forget the source but I once learned of a group discussion during which a CEO turned to one of his executives and observed, "You agree completely with me. One of us is useless." (Sounds like Jack Welch.) According to Roberto, the most effective leaders are those who "cultivate constructive conflict so as to enhance the level of critical and divergent thinking, while simultaneously building consensus so as to facilitate the timely and efficient implementation of the choices that they make." Roberto goes on to assert that "effective leaders can and should spend time `deciding how to decide.' In short, creating high-quality decision-making processes necessitates a good deal of forethought."

Roberto carefully organizes his material within four Parts. In Chapters 1 and 2, he provides "a conceptual framework for thinking about how to diagnose, evaluate, and improve strategic decision-making processes. Then in Chapters 3-5, Roberto focuses on the task of managing conflict (e.g. factors that can inhibit candid dialogue and debate). Next, in Chapters 6-8, he concentrates on how managers can "create consensus within their organizations without compromising the level of divergent and creative thinking." In Part IV (Chapter 9), Roberto shares his thoughts about how this book's philosophy of leadership and decision-making differs from conventional views held by many managers. "Specifically, I distinguish between two different approaches to `taking charge' when confronted with a difficult decision." He devotes an entire chapter to differentiating between the two approaches.

Throughout Roberto's lively narrative, there is a strong recurring theme: "leaders must strive for a delicate balance of assertiveness and restraint." One challenge is to be able to do either effectively. Another, greater challenge is to know when each approach should be taken. In this context, Roberto has much of value to say about great leaders as great teachers: "They prepare to decide just as teachers prepare to teach. They have a plan, but they adapt as the decision-making process unfolds. Great leaders do not have all the answers, but they remain firmly in control of the process through which their organizations discover the best answers to the toughest problems."

One final observation of my own. It would be a serious mistake to assume that Roberto wrote this book primarily for senior-level executives. All organizations (regardless of size or nature) urgently need effective leadership in all areas and at all levels. They need people who can make the right decisions, notably when the given problems are especially serious. For these and other reasons, I highly recommend this book to individuals who must make informed and correct decisions about almost any business situation as well as to others who must collaborate on them.

As Roberto well realizes, there are specific reasons why Dante reserves the last (and worst) ring in hell for those who, in a moral crisis, preserve their neutrality. Some decisions require courage, others require judgment, still others must be made quickly and often with insufficient information. How and why are great leaders able to make such decisions, either alone or in consultation with others? In essence, that is what Roberto's book is really all about.

Those who share my high regard for this brilliant book are urged to check out Jason Jennings' THINK BIG, Act Small, Michael Hammer's The Agenda and Robert Mittelstaedt's Will Your Next Mistake Be Fatal?

Boy, if I had a buck for every time I heard that from someone sheltering the boss at the top from the truth, I'd be a lot wealthier than I am now. "Yes" is what flunkies always tell the boss. "No" is what they often need to hear. "No, this project isn't going to pan out." "No, we can't achieve that goal, no matter how much money we throw at it." "No, it isn't going well at all." Problem is, who is going to bell the cat, as the Aesop fable asks.

The book "Why Great Leaders Don't Take Yes for an Answer" discusses behavior of leaders who realize that getting to the truth is more important that getting what they want to hear. And there are plentiful examples from real life situations that show us the tragedies that unfold when this isn't the case (The Challenger disaster for one.)

HOW a question is framed can result in getting answers, not fluff or outright obfuscation. The author lists five good alternatives:

1. Instead of "Why"--"Help me to understand why you believe"
2. Instead of "Why not" "Why not pursue other options"
3. Instead of "What if" "What if we found this assumption to be false"
4. Instead of "What would you do" "What would you do if you were in my shoes"
5. Instead of "What makes that optimal" "You must have good reason for thinking it's an optimal solution. I'd like to hear them."

There's a lot more in this book, but this is a modestly-looking book that packs a huge punch. If you seen projects flame down millions of dollars while the bad news is squelched, if you were a top manager who found out too late that something was heading south when you were told time and again it was heading north, you should read this. Excellent book, and really essential to any manager's reading list.

In April, Dr. Bruce Piasecki came to Red Fox Books downtown here in Glens Falls, NY to discuss his book "World, Inc." Dr. Piasecki has many diverse credentials ranging from his education at Cornell, his professorship at the RPI Lally School of Management and Technology, founding and presiding over AHC Group, Inc. and his authorship of a diverse selection of books on environmental matters and management. I picked up "World, Inc." in April and read it in October with the idea of a progressive business culture in mind. Almost immediately in reading the book I could see I came to the right place: "positive, transformative actions in your business and your life can be not only feasible, but profitable." Clearly, I was looking into serious discussion of this topic.



Referring to many other research and publications (e.g. Patricia Aburdene's Megatrends 2010's "conscious capitalism", Jack Trout & Steve Rivkin's Differentiate or Die where focused differentiation is a key to effectiveness in massive markets, Thomas Friedman's The World Is Flat which describes the leveling of industries in the new world market), a Socially Responsible Capitalism is seen to emerge. "Companies restructure their operations to actively accommodate consumer demand by creating new products that bridge the gap between traditional expectations of performance and price and social impact on the larger world." This is an emerging phenomenon. "This gap has traditionally been ignored because it wasn't considered good business to worry about such externalities; price and quality sold products." [page 43] This is also described as a "new trinity of corporate strategy: price, technical quality and social response." [page 33]



"The S-Frontier" is a three-sided consequence of the new global equity culture where these factors converge: (1) the swiftness of new global market information (2) the severity of leading social problems (such as global climate change and the finite supply of oil) and (3) the need for Social Response capitalists. [page 24]. Another way of describing this frontier is "faster, cheaper, better - these are the hallmarks of modern society. Yet ... when faster and cheaper become too dominant, progress is stagnant and we can feel it." [page 28] That is to say, faster and cheaper no longer mean better (as seems to be the hallmark of traditional economics).



Bill McKibben, whose recent book Deep Economy describes the economic situation as where there are two birds, called More and Better, sharing a branch on a tree. Somewhere in the advancement of economy, McKibben says, Better fluttered off a few branches from More. So now, when we aim with out stones, we cannot choose More and get Better. Instead, we are forced to choose between More or Better. Piasecki says this even more succinctly: "It can't be all about more, it must be about better." [page 139]



A way of interfacing this S-Frontier is by concentrating on Social Response Product Development which will develop along these keys:

1) Margin Improvement

2) Rapid Time Cycle

3) Global Market Access

4) Product Differentiation

5) Social Bundling of Value in Products

6) Reducing the Risk Premium

[page 55]



Social Response Product Development is said to be emerging and won't be at its peak until 2015 [page 66], so now is an excellent opportunity to engage in its long tail by implementing and enjoying its benefits soon.



Social Response Product Development and Social Response Capitalism represent more than an altruistic wish for a better economy, but instead represent a pattern emerging among very large and very successful companies. Throughout the book, there are examples of case studies of corporations from Toyota (in its development with Honda of its hybrid electric power train), Suncor (and its partnering with native and local peoples in developing Alberta's tar sands), Innovest (in promoting leading social indicators for investment metrics) and Hewlett Packard (for its e-incentives strategy of creating markets for the pyramid floor level of the global equity market). To this end, Carly Fiorina, former CEO of HP, addressed this social development: "The winning companies of this century will be those who not only increase profits by maintaining the highest standards, but those who increase social value at the same time." [page 145]



Ultimately, it comes down to a matter of trust. Promoting a corporate culture of trust will inherently create the progressive culture and all the benefits that have been described to flow from it in the Transformative Change documents. We can view the core elements of trust in corporations as: "Trusted Leadership, Social Awareness, Governance, Transparency, Risk Management, Intellectual Capital, Value Creation, Scoial Response, Better Products." [page 192]

Like his hero, E.F. Schumacher, Dr. Bruce Piasecki newest book presents us with a powerful, inspiring, and compelling alternative to business an usual. In World Inc., Dr. Piasecki argues convincingly and in writing that is accessible to all, that the future of business success lies in competing on social needs as well as on price and quality; that is, by offering products and services that serve the greater good and not just consumer desire. With success stories from today's corporate elite he describes how going green and going global can help heal the environmental and social ills we face.

According to Dr. Piasecki, social response capitalism is a sea change in big business practice. Hence, World Inc. is not a theoretical book, but rather a report on what is happening right now. The social response wave, which was born 25 years ago, has built gradually, and will play an important part in deciding the corporate winners and losers over the next several decades. Neglect it at your peril, warns Dr. Piasecki. Seize it and opportunity awaits.

For these reasons alone, World Inc. is an important book and should be read by business leaders everywhere. Yet what sets this volume apart is its focus on the role of investors in fostering change. By highlighting how rating groups determine risk and value the intangible assets born from social and environmental efforts, Dr. Piasecki shows the power of the investor in making the world a better place. And what better use of one's investment dollars could there be?

My only criticism about World Inc. (and it's a minor one) is that Dr. Piasecki does not talk much about smaller and mid-size firms. As an observer of the social responsibility practices of SMEs, I would have enjoyed reading how Dr. Piasecki feels competing on social needs will affect those millions of companies worldwide who are both suppliers and customers of the multinational firms he showcases. Going green has historically proved challenging for them. And, as Dr. Piasecki so aptly points out, the membership of the Fortune 500 has changed dramatically over the past 25 years, and today includes businesses and even industries that were unknown until quite recently. Who knows which SMEs will ride the wave of social response capitalism into the Fortune 500 of tomorrow.

John Winter
President, Social Responsibility Solutions LLC

Bruce Piasecki has written powerful and compelling book that highlights the tangible benefits of management innovation driven by social awareness. Of particular interest to those participating in the global financial markets is his chapter entitled "Money Will Not Manage Itself." The book is must reference for training globally competent managers with a view towards social responsiveness.

World Inc brings a glimpse at global and local politics from an economic perspective, certainly a must read for the movers and shakers.

Immediately, I was drawn into WORLD INC. After I read the first sentence in the first chapter I was hooked. Great opening paragraphs. Bruce Piaseck's writing is clear, concise, informative and positive. I feel like there's hope for a better world. The concepts are dealt with in a direct, straight forward manner based upon facts. Although the concepts are multi-layered and complex, the author makes it just as easy for the general reader to grasp and comprehend as the Harvard educated MBA. Again, I feel WORLD INC is not only informative, but also positive, and uplifting. I feel like there is a chance for a better world for all of us and for future generations. Thank you Dr. Piasecki for that.

This is a comprehensive examination of gambling in America, so well written I put aside the thriller I was reading to pick this up each night. Well researched, balanced, and thorough, it should be read by everyone on both sides of the gambling issue.

I read this book this year (2006) and was staggered by its accuracy in describing the events of the last eight years in the gaming industry. It is far more insightful than most accounts written after the fact. O'Brien takes a historical perspective, inspired by a genuine appreciation for gamblers and gambling along with a rare cool-eyed and unsentimental realism about the casino business. Too many other authors, horrified by the crime and corruption associated with the business, forget that the urge to gamble is deep and ancient; the opposite camp too often uses romantic gambling fiction to distract from the undeniable rottenness that suffuses the legal and illegal industry.

O'Brien tells the stories of gamblers of various stripes, from hapless victim to celebrity successes, types who rarely coexist in the same book. Entrepreneurs are featured as well, weak crooks, clever crooks and genius visionaries. He cites in damning detail the negative effects of legal gambling on local economies, society and political institutions; but there is no suggestion of throwing out the baby with the bathwater, this book is the beginning of a blueprint for how to reform the industry, not outlaw it (or even less plausibly, to stop gambling).

If all of this makes the book sound like a dull policy text or dated account of once-current events, it's not. It's an entertaining read, and more relevant now than when it was written.

Mostly an interesting, well-written, and throroughly researched book. The anthopological and historical information about gambling in the US was very informative. The vignettes about individual gamblers were thought provoking. However, often the descriptions of gambling take awkward twists into very biased and unfounded criticisms. It reads that someone combined a readable historical and cultural treatment of gambling with a distorted rant about the horrible evils of gambling. Despite the confusion, there were many parts of the book that were well done.

Mr. O'Brien has written a thought-provoking book, the thesis of which is that casinos rely on a small percentage of problem gamblers for most of their profits. I was a little surprised that he didn't interview Frank Scoblete, the top gaming author in the world and my personal favorite because I would have liked to read Scoblete's opinions on O'Brien's thesis. But that is a minor quibble. The book is definitely worth reading. I tend to agree with O'Brien. Too many people are out of control when it comes to gambling.

I live near one of the big casino riverboats mentioned in O'Brien's book and I read this book out of curiosity more than anything. Prior to reading this, I had NO idea how much intense lobbying - as well as graft and corruption - were behind the gambling industry.

One tidbit I found especially disturbing is the story behind how gambling was legalized in my home state.

"Bad Bet" tells of a former Midwest governor who was in power when Argosy Gaming made it's big push to get gambling legalized in this state. (Argosy won) Now that we have riverboats all over our state, this former governor now *works* for Argosy Gaming.

Rapes and robberies went up 33% in Atlantic City, New Jersey after the casinos opened there.

"Bad Bet" it tells of the subtle and overt techniques casinos use to lure people in and entice them - to keep the money flowing. Even the layout of casinos is done with much forethought as to the best way to separate people from their money.

And O'Brien talks about how the gambling industry goes looking for communities in economic straights to set up shop. (which is exactly what happened in our city)

This is a powerful book. I think every local or civic leader that has a casino in their community or is even considering allowing casinos in, should pause and read this book. It'll open their sleepy eyes to some hard ugly truths.

Having lived in a community that invited the riverboats in, I see firsthand that O'Brien is telling the truth about what to expect when big gambling comes to town. It's a sad affair.