This book is written for business owners, operators, and managers. No matter what your position in your business, no matter what your product or service, and irrespective of your talent, skill or experience, the principles presented in this book can make you more profitable!
Every chapter is filled with principles and concepts that you can use immediately to become more profitable in your business and to enhance your expertise — and wisdom — in business decision-making.
In the Black introduces the concept of the Wisdom Pyramid. It is a way of modeling the assimilation of data into meaningful and predictive business decisions.
You will learn how accounting is the primary source of data and how to use this data to work your way up the Wisdom Pyramid using reports and statistical analysis of your business data.
In the Black introduces a model for increased profitability, the Universal Business Model.
Under the Universal Business Model (UBM), communication between the three basic functions of all business increase profitability.
In the Black explains how each department must communicate with every other department, and how it directly affects profitability.
As you learn to increase communication across the business functions of marketing, production, and accounting, you become more profitable as a natural consequence.
When production knows from the marketing function what products and services that customers want, they know what to produce to make the company more profitable. Likewise, if the accounting function of the company informs marketing that costs have risen for a particular product, marketing now knows to raise the price of the product to maintain profitability.
Benchmarking can help drive your profit improvement strategies.
After reading this book, you will: