Tom Butler-Bowdon - 50 Business Classics

The 50 Classics series has sold over 350,000 copies

50 Economics Classics 978-1-85788-673-3

50 Philosophy Classics 978-1-47365-542-3

50 Politics Classics 978-1-47365-543-0

50 Psychology Classics, 2nd ed 978-1-85788-674-0

50 Self-Help Classics, 2nd ed 978-1-47365-828-8

50 Success Classics, 2nd ed 978-1-47365-835-6

50 Spiritual Classics 978-1-47365-838-7

50 Business Classics 978-1-85788-675-7

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First published in 2018 by Nicholas Brealey Publishing

An imprint of John Murray Press

An Hachette UK company

Copyright Tom Butler-Bowdon 2018

The right of Tom Butler-Bowdon to be identified as the Author of the Work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988.

All rights reserved.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means without the prior written permission of the publisher, nor be otherwise circulated in any form of binding or cover other than that in which it is published and without a similar condition being imposed on the subsequent purchaser.

British Library Cataloguing-in-Publication Data

A catalogue record for this book is available from the British Library.

ISBN 978 1 857 88675 7

eBook (UK) ISBN 978 1 473 68391 4

eBook (US) ISBN 978 1 473 68392 1

www.nicholasbrealey.com

www.butler-bowdon.com

Nobody explains the gist of books better than Tom ButlerBowdon, as he demonstrates to great effect in 50 Business Classics. He curates essential wisdom written by leading practitioners, such as Richard Branson, Howard Schultz, and Sheryl Sandberg, the most astute observers (Peter Drucker, Jim Collins, and others), and master storytellers such as Walter Isaacson and Ron Chernow. The revelations about the creation of wealth, the changing nature of work and employment, and the impact of technological advancements are timely, practical, and relevant.

Bruce Rosenstein, Managing Editor, Leader to Leader; Author, Create Your Future the Peter Drucker Way

Teaching management, Im always looking for ways to distil knowledge for the benefit of my students. 50 Business Classics provides an excellent base of management history, mission and goal development, and ethics. Highly recommended as a tool for business and personal growth.

Lawrence J. Danks, Assistant Professor of Business, Camden County College, New Jersey, author of Your Unfinished Life

Contents

There are no shortcuts to business success; good character is everything

Dont be afraid to be different. On entering any new field or an industry, aim to shake it up and provide new value

The wealth creator has a moral obligation to enrich the lives of others in whatever way they can

It is not entrepreneurship but management that has brought the greatest advances in business

Societys interests are best served by giant monopolies which provide quality and lower prices for the consumer

Businesses must purposefully engage in disruptive innovation if they are to survive and prosper

Dont be cowed by the big players in your industry. Vision, patience, and agility can see you outpace them

Great companies outperform even in turbulent times

Enterprises with an extreme focus on quality, better systems and constant improvement have the edge

Effectiveness at work depends on clarity of aims and the desire to contribute

Successful negotiation is based on principles, not pressure

Automation and artificial intelligence will change the landscape of work and production forever

The key to real prosperity in business is to work on your enterprise, not in it

Faith in your idea and thinking big are essential to building a great business

Nothing really prepares you for leading an organization and getting it through the inevitable crises

A great vision can require shocking intensity to realize

You dont have to spend a fortune getting a good business education

The fundamental purpose in starting any new enterprise is to create meaning

Companies that put profits before mission inevitably falter in the long-term

Build an enterprise that uplifts people or opens up knowledge to millions

Companies make the mistake of focusing on the competition when they should be focused on creating big leaps in value

A great businesses can be the result of a personal passion writ large

It is the radical simplifiers of products and services, rather than the innovators, that win the big prizes in business

Simplicity and clarity are the most powerful advantages in business, but you only arrive at them by being radically customer-centric

The best teams trust each other, welcome conflict, are accountable, and focus on results

How a simple innovation, the shipping container, transformed world trade

Truly understand what business you are in, and you have a chance of shaping your future

Transparency of information enables people to make good decisions and creates unity of purpose

People will naturally want to do their best for an organization if they feel that their higher personal development goals are being met

Attracting early adopters to your product does not mean you will capture the mainstream market

Maximizing your strengths, not trying to correct for your weaknesses, is the key to work success

Successful companies dont simply sell products, they occupy very specific spaces in peoples minds

A lack of resources can be a boon in creating new enterprises, with experimentation and analysis replacing grand strategy and capital

More women at the top is not just good for its own sake, companies will only succeed if they are properly representative of half of their market

Only by creating a culture of learning and innovation will you attract the right people to your enterprise

Time, discipline, and focus are the most important ingredients in building a fortune

Huge enterprises can be built by giving people a small moment of joy in their day

Great companies are communities in which there is a genuine commitment to every members potential being realized

Average companies are focused on what they produce. Great business leaders inspire people to take action by galvanizing them behind a compelling reason, a why

Advanced industries can emerge in unlikely environments

A new breed of huge corporation required a different kind of management

Relentless innovation to please the customer and a very long-term view created a dominant online retailer

Willingness to fail frequently, while absorbing the lessons of failure and making constant adjustments, is the way to business success

Dramatic increases in productivity benefit capital and labor alike