Showing posts with label Good Business Management. Show all posts
Showing posts with label Good Business Management. Show all posts

22 August 2024

Some Excellent Non-Fiction Books

 * Henry Hansmann, "The Ownership of Enterprise" (2000). 

This is one of the best analyses of the economic and legal logic the causes some entities to be organized as "for profit" investor owned companies, others to be organized as worker cooperatives or producer cooperatives or consumer cooperatives, others to be organized as member controlled non-profits, and other considerations regarding entity ownership, backed by historical and empirical analysis of what worked, what didn't, and how this supports a larger theoretical framework of what forms of entity ownership make the most sense for particular purposes. Twenty-four years after it was written, all of its conclusions remain sound.

* Theodore Caplow, "How To Run Any Organization" (1976) (207 pages exclusive of end notes).

This short and practical guide lucidly sums up most of the academic consensus knowledge about the most important lessons about what works when it comes to being a manager in an organization. Forty-eight years after it was written, its guidance has aged very well. 

It also provides a carefully pruned and curated list of fourteen more classics of the management literature for further reading, although other solid books on the topic have been written since then.

This isn't necessarily the only book you need to read about management, but it is the best introduction to the subject out there.

* Sue Spencer, "Write On Target" (1976) (121 pages exclusive of end notes).

There are many books on writing that are basically grammar textbooks, are in the same genre as the Associated Press style guide, or focus on style preferences in sentence structure (such as E. B. White and William Strunk Jr., "The Elements of Style" (4th ed. 1999) (105 pages)). 

Bryan A. Garner is the leading authority on modern, plain English, legal writing styles at a similar level of specificity to "The Elements of Style."

But Spencer addresses writing style and rhetoric at a level more focused on the forest than the trees. Many writers and writing instructors have the technical copy editing level mastery of Strunk and Garner, but can't teach and often have not even internalized the kind of insights Spencer provides into telling a compelling story, whether it is fiction or non-fiction. Instead, they merely vaguely suggest putting together an outline to compose something that a Large Language Model AI could have written. 

The titles of her ten chapters are suggestive: "Know the score", "Bite off what you can chew", "Get off to a flying start", "Zero in", "Keep dropping those bread crumbs", "Stick to your guns", "Call a spade a shovel", "Squeeze, please", "Goof-proofing", and "End before your ending."

Once again, these lessons have aged well.

Another widely acclaimed book in the same vein, which I have not yet managed to read, is Blake Snyder, "Save the Cat!: The Last Book On Screenwriting That You'll Ever Need." (2005). It is also a "forest level" writing book, but is more focused on writing "formula" scripts for movies and television, rather than having a more general focus.

* W. Phillips Shively, "Power and Choice: An Introduction To Political Science" (1987).

This textbook, from an introductory political science class I took at Miami University of Ohio, decades later, taught me two main things.

First, the title rubric that breaks politics into the dimensions of "power" and "choice" has been a useful framework for thinking about politics for my entire adult life. My natural inclination is wonkish, focusing on the optimal policy choices I would make if I were king for a day. But it is important to recognize that perfect knowledge of the right choice to make is useless unless you can secure the power necessary to implement those choices, bringing majorities along with you. Other people are more focused on the "power" aspect, often in a Marxist or conspiratorial style analysis, but forget that political policy choices do matter and have consequences, which can't simply be made blindly on a value and results neutral basis.

Second, it eschewed early modern political philosophy in favor of illustrating every topic discussed with pertinent comparative politics examples from the 20th century from all across the globe, opening my eyes to a much broader perspective than high school civics did, and on topics like non-democratic government and the workings of government bureaucracies which I hadn't realized at the time were even a part of the discipline.

It is a little bit dated, because it doesn't have post-1987 developments like the fall of the Soviet Union and end of the Cold War, the market reforms of China, the evolution of the European Union to a more state-like entity,  

* Ronnie Eisenberg with Kate Kelly, "Organize Yourself!" (1986).

This book covers, at the nitty gritty detail level, issues like time management; organizing your personal files and financial records, and managing mail; keeping your closets, kitchen, laundry, grocery shopping, and household help organized; organizing major projects like melding households, moving, planning trips, planning for painters, planning parties and yard sales, and looking for jobs; shopping, organizing your purse and briefcase, organizing your spouse, not misplacing things, finding a doctor, and remembering dates; and the organizational challenges of pregnancy and children.

It doesn't reflect a life transformed by smart phones, personal computers, the cloud, and the Internet, so it is a bit dated. It doesn't contain any deep and profound insights. But, if your friends describe one of your parents' offices (as my friends did) as "it looks like a newspaper stand blew up in there", and you just don't have a foundation of routines and orderliness that is second nature to you, it is good for establishing a baseline foundation for a more organized personal life.

* Randall B. Ripley, "Congress: Process and Policy" (4th ed. 1988).

Some of this book, which I read as a textbook in college, is simply par for the course political science fare. Unlike the other three books mentioned above, this book is somewhat dated (there may be more recent editions, I haven't checked).

For example, it was written before the full running of political realignment between the Democratic and Republican parties, the emergence of the firm alignment between the Republican Party and Evangelical Christianity, the coalition shifts associated with the MAGA movement, innovations in election administration like ranked choice voting and various experiments with open primaries, or the nuclear option in the U.S. Senate.

But what sets this book apart, which was mind-blowing when I first read it, was its vivid description of the early U.S. Congress and how it, and the federal government more generally, was radically transformed into a very different institution, especially as a result of the U.S. Civil War, World War I, the Great Depression, and World War II. This historical context is vital to understanding not just the political history of the United States, but also its legal history which closely parallels the development of other federal government institutions.

05 April 2018

Basic Management Issues Are Critical To Profitability

Most of the differences between the most productive and profitable company and the least, are very basic management issues that people often have difficulty distinguishing from interpersonal and non-business considerations.
In the perfectly competitive model, price is equal to average cost and firms operate efficiently at minimum cost. Yet, Syverson finds that in the typical US industry a firm at the 90th percentile of the productivity distribution makes almost twice as much output with the same inputs as a firm at the 10th percentile. It’s not easy to measure inputs or outputs, of course, but even firms producing very uniform products show big productivity differences. 
How can firms that use inputs so inefficiently survive? In part, competition is imperfect which gives inefficient firms a cushion because they can charge a price higher than cost even as costs are higher than necessary. Another reason is that small firms eat their costs.
. . .  
Concentrate production on high-margin, big sellers. Drop the rest. Simple; but many firms don’t know their numbers. . . .

He cleans the shop floor and gets rid of inventory that isn’t selling. He then arranges the floor to improve process flow (made easier by concentrating production on fewer products). He then creates an inventory system, tracks orders and the inputs needed to create those orders, and takes advantage of costs savings through economies of scale in input purchases. . . .

[W]e now have robust evidence from India and Mexico that better management increases profits and productivity and that such increases can be sustained over the long run. In the studies from India and Mexico, randomly selected firms were given access to a “management intervention” and their productivity and profits improved and stayed higher for years after the intervention ended. . . . 
It’s difficult to run a business like a business. The analytical mindset that can separate business problems from personal problems isn’t natural. Many people cannot separate business decisions from their own preferences and emotional biases, which is one reason why great business leaders are rare.
The "management interventions" were often just as simple as the ones mentioned above.

28 April 2016

Dealing With Writer's Block

A very constructive guest post at Charlie's blog discusses some of the most common causes of writer's block (and it very often does have mundane causes) and how to address them.  

The opening line, a long neglected glasses prescription that is causing non-specific symptoms that is wrecking havoc with your life, is something that actually happened to me two or three years after graduating from law school and then moving to Colorado.  I had been having awful headaches for months, a number of inexplicable close calls while driving, and just generally felt awful.  

I went home for Thanksgiving, stopped by my usual childhood optometrist, because I hadn't been for a while and wanted a new style of glasses for the new Western Colorado me, and voila, all was explained.  My prescription was much, much worse than five years earlier when I'd gotten my last pair of glasses towards the end of my college career.  And, in just a few days, all of the symptoms that I hadn't know that I'd been suffering from were gone.  

Sometimes problems with very complex effects have very simple causes.

16 October 2015

Friday Tidbits

* The producers of the TV series Homeland, were duped by their own paid graffiti artists, but rightly took the slight in good humor with a humble press release, rather than starting a lawsuit.

* I have replaced my stolen laptop with a Mac Air.  So far, so good when it comes to being compatible with other IT hardware and software in our PC dominated office.

* My mail in ballot for the 2015 general election has arrived and for once I have no clue yet.  I have two school board seats to vote up (one at-large and one for my district), there is a state TABOR ballot issue, and there are gobs of local ballot issues in Denver.  I aspire to figure these races out and write about them soon, but have been so busy that I have only a dim idea about the candidates and the issues so far.

* My roof is being replaced due to hail damage early this summer.  Life is noisy at the moment.

20 January 2015

Paranormal Insurance





























































































From Saturday Morning Breakfast Comics.

Selling people insurance with no intent to pay claims is fraudulent.  But, what if, instead, you formed an insurance company that paid claims in every case where the insurance company couldn't prove that it was a hoax (essentially the premise of a contemporary fantasy Downside Ghosts series by Stacia Kane).

One could set rates simply from actuarial experience and if one was interested in locating potential paranormal events, what better way to do so than to use the device of people making claims on the paranormal insurance coverage.  Even if the business operated at a loss, the anthropological or metaphysical research payoff (depending upon what the research investigating claims revealed) might very well be a small cost to subsidize in order to secure the research tool.

04 September 2012

Apple Amazingly Dominant

Apple became the world’s most valuable-ever company two weeks ago. It is worth $624bn, more than all the listed companies in Portugal, Ireland, Greece and Spain together. The employer of 63,300 people – each valued at $10m – is more valuable than all the shares available to investors in the MSCI China index, the international benchmark.
 
Via this post.

Given that Apple must have many employees who contribute below average amounts to market valuation, the contribution of the core and difficult to replace employees to market valuation must be high indeed.

According to a recent article at Fortune, Apple sells 8.8% of mobile phones, but it has 73% of profits in the market. Samsung sells 23.5% of phones and earns 26% of profits. Everyone else is barely breaking even or losing money.

Via this post.


 

19 August 2011

Kudos to Allstate

Hey, I admit it, I enjoy listening to an advertisement from a national company as part of a nationwide advertising campaign that takes a moment to craft an ad specific to my neighborhood. So, I was charmed when a radio ad from Allstate Insurance, as part of its "Mayhem" ad series aired an ad about someone driving down Downing Street watching a volleyball player in Washington Park who gets distracted and ends up in an automobile accident, which I heard today.

05 May 2011

First Bank of Cherry Creek Has Friendly Employees

I've done business with a number of banks over the years. One of them is First Bank of Cherry Creek. They don't always have the best interest rates or easiest loan underwriting terms. Alpine Bank, in Western Colorado, is the hands down winner in Colorado for beautiful branch bank office architecture (and when I lived in Grand Junction, Colorado they also had awesome donuts on Saturday morning). But, one place that First Bank really excels is courtesy and customer service. Time and time again, even when I come to them cranky, the people who work there are friendly, stay cool, take the time to listen to my questions and concerns, and address them.

For example, yesterday, the ATM machine ate my First Bank ATM card. I had even taken a detour on the way to where I was going there to go to the ATM machine so that I could do my business before I started work. A day that starts like this is like the beginning of some mediocre independent film comedy. Needless to say, I was pretty cranky, and I was also more than a bit worried that some case of personalized identity theft had struck me - something I've seen more than enough of second hand representing clients trying to sort out resulting bad check prosecutions, inaccurate credit reports, and muddled bank balances.

But, when I got to my office, I had a letter on my desk from the previous day explaining that there had been a security breach at the bank, which I hadn't realized applied to me, and when I called a customer service representative (I spoke to "Rhonda," a real human being from Colorado!) for clarification, she calmly explained to me that indeed, someone had gotten my ATM card number making it necessary to replace it, reviewed my account to make sure that there wasn't anything else amiss, told me when to expect a new card (it arrived later the same day) and explained why I couldn't have received a replacement any sooner given the steps that the bank had to take first and the fact that the breach took place on a weekend. I wasn't exactly happy afterwards, but I was a lot less grumpy than I'd been when the ATM machine ate my ATM card, and I was comfortable that a criminal, rather than bad management at the bank, was responsible for my inconvenience.

In an ideal world, the letter I'd received telling me what was going on could have been more clear, and the ATM machine could have been more specific about the reason it was eating my card, rather than giving me an ominous "please contact your bank" message with no other explanation. But, a chance to speak to a human being who was nice and actually able to answer my questions and was able to explain what was going on made the difference between a mild "shit happens" annoyance and a fury that could easily have led me to change banks. Given how routine it is for customer service line service to be almost as bad as the events that inspired you to call in the first place, this is a real achievement. At least half the time, to get the help you need, even if you can get it, you need to ask for a manager. But, not this time.

I often tag instances of bad business management (the Burger King next door to its Cherry Creek branch office has earned at least couple of those for its parking nazi tactics, nasty bathrooms and notoriously slow front counter service), but excellence deserves recognition now and then as well.

Full disclosure: I am a First Bank of Cherry Creek customer, but receive no special deals and wasn't asked to prepare or compensated in any way for this blog post.

12 July 2007

In Praise of Complete Computing

One of my mottos is that people hire lawyers to do impossible things (actually, things that are impossible to accomplish without a lawyer). But, we're not the only profession in the Mission Impossible business.

Today, I write to praise my office's outsourced computer guru Complete Computing whose principal is Peggy Pitchford. Her latest campaign to bring order to an unruly cyber universe has been a great success accomplished with dogged determination, in the face of deliberate indifference from megacorporations like Hewlett Packard, mysterious error messages, and limited hardware and financial resources.

Among other things, she has solved a problem of seemingly endless error messages in my Internet connections when scripts arose, that had eluded me despite countless hours spent trying to track down their source, with the result that my laptop is now far more functional.

She's got a heavy load of clients, but she, and her associates, are worth it.