EVERY business enterprise and entrepreneur wants to be successful and that means earning more money from an existing business, without introducing costly new initiatives.
This handbook or guidebook of profitability management for managers in a company, whether it is a global conglomerate or a local shop with five employees, guides them in taking their business to its highest potential. Its chapters tell how to systematically improve their business, draw the best customers, build the managers’ capabilities and secure their future through thoughtful and effective management. These improvements cost no money but help to generate profits and cash from the start. At the end of each chapter is included a section called ‘Things to Think About’ which highlights the chapter’s critical points and suggests how to put them into action.
The book gives information in a logical sequence to enable the manager to understand the new opportunities, identify the most productive course of action and lead to the creation of a high-performing management team.
We are entering a new era of business after the transition which took place about a century ago from localised, unformed markets to mass markets. The rise of mass markets created huge benefits for society and became the dominant paradigm of how companies should be managed today. Thus the locus of value creation is shifting from product innovation to customer relationship and innovation centred on account management and supply chain management. This shift is accelerating because of which companies and their managers are struggling with this transition.
The author Byrens states an uncomfortable truth – it is possible for everyone to meet or exceed their budget targets and for the company to still have an enormous portion of its business unprofitable by any measure and how you can change this by rethinking sales, customer relations and operations.
(Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi – 110 017.)