Entrepreneurship, Innovation, and Capitalism:: Main Street to Wall Street to the C-Suite

From the Preface: "Capitalism is a word that has taken on many meanings, and right off the bat the author is going to tell you that your definition is almost certainly wrong -- but the author only says this because you are just like everybody else. As we try to explain this from the start to finish of this book, along the way we are going to make this personal as well as academically multidisciplinary. In fact the original title of this book was subtitled “What MBAs Should be Taught but Aren’t.” In the broadest sense the subject is capitalism but rather than explain the economic theory of it and then say something about “Wall Street,” we are going to view that whole set of institutions as an intermediary between you, the investor on Main Street and what goes on amongst all the executives in the classic corporate boardroom called the “C-suite.” All this makes the book’s approach not only multidisciplinary but multigenerational, “for MBAs of all ages.” The author assumes most readers to broadly represent the adult working crowd that already have individual investment portfolios even if that is done passively for you and even if you are not even aware of it. In this way the author is trying to make otherwise dry Business and Economics stuff not only professionally interesting but personally relevant. How Capital-ism actually works runs straight through to every private investor of his/her own precious capital which in your case is money. Then it gets transformed into other Economic Factors of Production which sounds pretty “theoretical,” but these factors are quite plainly represented as the very first items in the very first table called a Balance Sheet in any corporate Annual Report that you should occasionally look at on your own behalf. At the bare minimum you should at least grasp how much and what kinds risk you are exposed to as in “risk versus return” -- a point we will return to many times. Don’t worry, we are not going to attempt this MBA-style (too painfully) but by getting deep into the machinations of a typical large manufacturing firm. Actually, we are going to spend at least as much time explaining how Supply Chains work in the modern era because just like any other “nexus of contracts,” these “organizations” now largely comprise what we will call the “competitive unit” in the modern economy. Only to the extent that one’s supply chain succeeds can any firm that is part of it hope to then appropriate its gains. Overall, we will link Annual Report numbers to operational functions and then, we are going to explain why it matters from the standpoint of the Golden Fleece of every Business Strategist – Sustainable Competitive Advantage. Better still, in the final chapter we are going to explain how capital called Retained Earnings on the Balance Sheet (or not) gets reinvested and reallocated on your behalf in Capital Projects or the famous “CapEx” and how that term “Return on Investment” is not only a criterion for project success, but turns into very real corporate numbers that appear in the Balance Sheet’s famous sidekick called the Income Statement. The bottom line on the Income Statement is usually called Profit or Earnings and indeed, this is where the term “bottom line” comes from. ‘Except you will learn that what you see is Accounting Profit and not Economic Profit, and the entire fate of capitalism hinges on knowing the difference. This means you."
ASIN: B0F3SP48Z1
VSKU: BVV.B0F3SP48Z1.VG
Condition: Very Good
Author/Artist:McGrath, Dr. Robert Nicholas
Binding: Hardcover
Note: Any images shown are stock photographs and product may differ from what is shown.
Condition Notes: Book has little sign of wear or use