Promoting Sustainable Practices through Energy Engineering and Asset Management discusses the challenges that the developing world faces when implementing and utilizing environmentally friendly techniques. This publication is a crucial reference source for managers, scientists, technology developers, and engineers interested in the adoption of sustainable practices in developing countries.
Valuation is at the heart of any investment decision, whetherthat decision is to buy, sell, or hold. In The Little Book ofValuation, expert Aswath Damodaran explains the techniques inlanguage that any investors can understand, so you can make betterinvestment decisions when reviewing stock research reports andengaging in independent efforts to value and pick stocks.
Page by page, Damodaran distills the fundamentals of valuation,without glossing over or ignoring key concepts, and develops modelsthat you can easily understand and use. Along the way, he coversvarious valuation approaches from intrinsic or discounted cash flowvaluation and multiples or relative valuation to some elements ofreal option valuation.Includes case studies and examples that will help build yourvaluation skillsWritten by Aswath Damodaran, one of today's most respectedvaluation expertsIncludes an accompanying iPhone application (iVal) that makesthe lessons of the book immediately useable
Written with the individual investor in mind, this reliableguide will not only help you value a company quickly, but will alsohelp you make sense of valuations done by others or found incomprehensive equity research reports.
Companion website: https://sites.google.com/view/real-options
While you can find numerous books focused on the topic ofcorporate finance, few offer the type of information managers needto help them make important decisions day in and day out.
Value explores the core of corporate finance withoutgetting bogged down in numbers and is intended to give managers anaccessible guide to both the foundations and applications ofcorporate finance. Filled with in-depth insights from experts atMcKinsey & Company, this reliable resource takes a much morequalitative approach to what the authors consider a lost art.Discusses the four foundational principles of corporatefinanceEffectively applies the theory of value creation to oureconomyExamines ways to maintain and grow value through mergers,acquisitions, and portfolio managementAddresses how to ensure your company has the right governance,performance measurement, and internal discussions to encouragevalue-creating decisions
A perfect companion to the Fifth Edition ofValuation, this book will put the various issues associatedwith corporate finance in perspective.
Valuation Workbook is the ideal companion to McKinsey's Valuation, helping you get a handle on difficult concepts and calculations before using them in the real world. This workbook reviews all things valuation, with chapter-by-chapter summaries and comprehensive questions and answers that allow you to test your knowledge and skills. Useful both in the classroom and for self-study, this must-have guide is essential for reviewing and applying the renowned McKinsey & Company approach to valuation and reinforces the major topics discussed in detail in the book. Fully updated to align with the sixth edition of Valuation, this workbook is an invaluable learning tool for students and professionals alike.
Valuation has become central to corporate financial strategy, and practitioners must be exceptional at every aspect of the role. There is no room for weak points, and excellence is mandatory. This workbook helps you practice, review, study, and test yourself until you are absolutely solid in every concept, every technique, and every aspect of valuation as demanded in today's economy.Master value creation, value metrics, M&A, joint ventures, and moreAnalyze historical information, forecast performance, and analyze resultsEstimate the cost of capital, continuing value, and other vital calculationsTest your understanding before putting it to work in the real world
Designed specifically to reinforce the material presented in the book, this workbook provides independent learners with the opportunity to try their hand at critical valuation skills, and helps students master the material so they can enter the job market ready to perform. For financial professionals and students seeking deep, comprehensive understanding, Valuation Workbook is an essential part of the McKinsey Valuation suite.
· The Startup Valuation Explorer
· Expanded coverage of Valuation Methods
· Responding to investor questions about your valuation
· Understanding option pool impact on your valuation
For many early-stage entrepreneurs assigning a pre-money valuation to your startup is one of the more daunting tasks encountered during the fundraising quest. This guide provides a quick reference to all of the key topics around early-stage startup valuation and provides step-by-step examples for several valuation methods.
This Founder’s Pocket Guide helps startup founders learn:
• What a startup valuation is and when you need to start worrying about it.
• Key terms and definitions associated with valuation, such as pre-money, post-money, and dilution.
• How investors view the valuation task, and what their expectations are for early-stage companies.
• How the valuation fits with your target raise amount and resulting founder equity ownership.
• How to do the simple math for calculating valuation percentages.
• How to estimate your company valuation using several accepted methods.• What accounting valuation methods are and why they are not well suited for early-stage startups.
Valuation is at the heart of any investment decision, whetherthat decision is buy, sell or hold. But the pricing of many assetshas become a more complex task in modern markets, especially afterthe recent financial crisis. In order to be successful at thisendeavor, you must have a firm understanding of the propervaluation techniques. One valuation book stands out as withstandingthe test of time among students of financial markets and investors,Aswath Damodaran'sInvestment Valuation.
Now completely revised and updated to reflect changing marketconditions, this third edition comprehensively introduces studentsand investment professionals to the range of valuation modelsavailable and how to chose the right model for any given assetvaluation scenario. This edition includes valuation techniques fora whole host of real options, start-up firms, unconventionalassets, distressed companies and private equity, and real estate.All examples have been updated and new material has been added.An expansion of ancillaries include updated online databases,spreadsheets, and other educational support toolsFully revised to incorporate valuation lessons learned from thelast five years, from the market crisis and emerging markets to newtypes of equity investmentsRevised examples of company valuations such as companies fromEastern Europe and Africa, which stress the global nature of modernvaluationAuthor Aswath Damodaran is regarded as one of the besteducators and thinkers on the topic of investment valuation
This indispensable guide is a must read for students wishing togain a better understanding of investment valuation and itsmethods. With it, you can take the insights and advice of arecognized authority on the valuation process and immediately putthem to work for you.
Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process.
Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right.Learn best practices from 30 field-leading expertsFollow clear examples for complex or unfamiliar scenariosAccess practical tools that streamline the valuation processUnderstand valuation models and real-world applications
The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.
This book introduces you to the main concepts of bookkeeping and accounting, giving you a basic knowledge and understanding together with practical and thought-provoking exercises. Whether you choose to read it in a week or in a single sitting, Bookkeeping and Accounting In A Week is your fastest route to success:
- Sunday: The basic principles of bookkeeping
- Monday: Different types of account and ledger
- Tuesday: More aspects of bookkeeping
- Wednesday: Preparation for the accounts
- Thursday: The profit and loss account
- Friday: The balance sheet
- Saturday: Understanding published accounts
ABOUT THE SERIES
In A Week books are for managers, leaders, and business executives who want to succeed at work. From negotiating and content marketing to finance and social media, the In A Week series covers the business topics that really matter and that will help you make a difference today. Written in straightforward English, each book is structured as a seven-day course so that with just a little work each day, you will quickly master the subject. In a fast-changing world, this series enables readers not just to get up to speed, but to get ahead.
Equity Asset Valuation Workbook, Third Edition was designed as a companion to Equity Asset Valuation, Third Edition, the most comprehensive text on this subject available on the market. This workbook provides key study tools, such as learning outcomes, chapter summaries, practice problems, and detailed solutions, that guide you in your preparation for the third step in the CFA certification program. These features reinforce essential theories and their practical application, and assist you in understanding the core concepts behind these theories, as well as when and how to implement them. Integrating both accounting and finance concepts, the workbook and its companion text offer a collection of valuation models—and challenge you to determine which models are most appropriate for given companies and circumstances.
When you make an equity investment, you purchase and hold a share of stock. Through the payment of dividends and capital gains, this investment can result in income that can boost the performance of your portfolio—but determining which investments are going to be profitable and which are best passed over is key to building a successful equity investment strategy.Access targeted features, such as practice problems, chapter summaries, and learning outcomes, that reiterate your newfound knowledgePrepare for the third step in your CFA certification program with confidenceReinforce the ideas presented by the workbook's companion text, sold separatelyExpand your understanding of equity assets through versatile material that blends theory and practice to provide you with a realistic understanding of the field
Equity Asset Valuation Workbook, Third Edition complements the revised Equity Asset Valuation, Third Edition, and guides your study efforts for the third step in the CFA certification program.
Lessons in Corporate Finance explains the fundamentals of the field in an intuitive way, using a unique Socratic question and answer approach. Written by award-winning professors at M.I.T. and Tufts, this book draws on years of research and teaching to deliver a truly interactive learning experience. Each case study is designed to facilitate class discussion, based on a series of increasingly detailed questions and answers that reinforce conceptual insights with numerical examples. Complete coverage of all areas of corporate finance includes capital structure and financing needs along with project and company valuation, with specific guidance on vital topics such as ratios and pro formas, dividends, debt maturity, asymmetric information, and more.
Corporate finance is a complex field composed of a broad variety of sub-disciplines, each involving a specific skill set and nuanced body of knowledge. This text is designed to give you an intuitive understanding of the fundamentals to provide a solid foundation for more advanced study.Identify sources of funding and corporate capital structureLearn how managers increase the firm's value to shareholdersUnderstand the tools and analysis methods used for allocationExplore the five methods of valuation with free cash flow to firm and equity
Navigating the intricate operations of corporate finance requires a deep and instinctual understanding of the broad concepts and practical methods used every day. Interactive, discussion-based learning forces you to go beyond memorization and actually apply what you know, simultaneously developing your knowledge, skills, and instincts. Lessons in Corporate Finance provides a unique opportunity to go beyond traditional textbook study and gain skills that are useful in the field.
-- Michael J. Mauboussin, Chief Investment Strategist, Legg MasonCapital Management and author of More Than You Know: FindingFinancial Wisdom in Unconventional Places
In order to be a successful CEO, corporate strategist, oranalyst, understanding the valuation process is a necessity. Thesecond edition of Damodaran on Valuation stands out as themost reliable book for answering many of today?s critical valuationquestions. Completely revised and updated, this edition is theideal book on valuation for CEOs and corporate strategists. You'llgain an understanding of the vitality of today?s valuation modelsand develop the acumen needed for the most complex and subtlevaluation scenarios you will face.
Whether buying or selling, the question of "what's it worth?" ismultifaceted. In an M&A setting, it is necessary to computefair market value, but it is far more important to computeinvestment value-the value of the target company to a strategicbuyer. This calculation varies with each prospective buyer,depending on synergies, benefits, and other competitive analysesthat are seldom involved in business valuation. Valuation forM&A is the first book to focus on valuation for merger andacquisitions. This groundbreaking guide provides document requestchecklists, sample interview questions, a format for adjustingfinancial statements, a format for developing discount rates, aformat for computation of net cash flow, and a valuationreconciliation form, all to help senior executives and M&Aprofessionals better negotiate a successful deal.
Frank C. Evans is a certified business appraiser (CBA),Accredited Senior Business Appraiser in Business Valuation (ASA),and CPA (accredited in business valuation) and David M. Bishop is aMaster Certified Business Appraiser (MCBA), Accredited SeniorBusiness Appraiser in Business Valuation (ASA), Fellow of theInstitute of Business Appraisers (FIBA), and Business ValuatorAccredited for Litigation (BVAL).
In 2001, Goldman Sachs structured a complex financial contract so that its client, the government of Greece, would appear to have far less debt than it actually did. When news of this transaction came out years later, the inevitable question arose: Even though Goldman’s actions were legal, were they ethically wrong? Is modern finance itself inherently unethical?
In Something for Nothing, financial economist Maureen O’Hara explains that one of the key innovations of modern finance is its reliance on arbitrage, the practice of taking advantage of a price difference between two or more markets to generate profits and remove inefficiencies. When done correctly, arbitrage can create value at little or no cost (in effect, getting “something for nothing”); but it can also be an exploitative tool.
In a lucid, insightful discussion of the ethics of arbitrage in modern finance, O’Hara reveals how the rules can often be stretched into still-legal yet highly unethical business practices. Examining key cases in clear and persuasive prose, O’Hara illuminates various aspects of financial ethics, from the Goldman Greek transaction to Lehman Brothers’ attempt to cover up its debt, JPMorgan Chase’s maneuvers in California’s energy markets, Bernie Madoff’s trading strategies in the 1980s, high-frequency trading practices, and toxic loans in France.
Ultimately, O’Hara turns to philosophy and religion to argue for a new, humanistic approach to ethics in the financial industry. She makes a strong case for a way forward: fewer rules and more standards to foster a morally responsible outlook. Fearlessly raising the questions at the moral heart of our financial system, Something for Nothing is a masterful treatise on the ethics of modern finance.
Discussing the practical aspects of business valuation that arise in the context of a tax valuation, this book provides you with detailed analysis of the valuation business engagement process. Detailed discussion is included of various cases outlining errors that appraisers have made in appraisal reports, as well as in-depth discussion of the current appraisal industry issues that are impacting tax valuations.Examines concepts and topics including level of value, the role of estate planners in the business valuation process, the use of appraisers in estate planning and litigation, and the appraiser identification/selection processProvides insight into the nature of the major appraisal trade associationsOffers insights into preventing errors from getting into appraisal reports
This helpful guide provides you with the detailed discussion you need on the various business valuation standards that have been promulgated by the Appraisal Standards Board as well as several appraisal trade associations.
Business Valuation and Bankruptcy helps you-whether youare an accountant dealing with a troubled company, a lender, aninvestor, a bankruptcy and restructuring lawyer/financial advisor,or a private equity player-to focus on solving everyday and casedeterminative disputes when creditors, lenders, and debtors havediffering views of value.
Introducing valuation issues early on in therestructuring/bankruptcy process so you can plan accordingly, thisbook offers
Business Valuation and Bankruptcy is written in termsthat are common to bankruptcy professionals and is essential,timely reading for players in the bankruptcy and restructuringenvironment.
An essential guide covering new federal regulatory reformsand federal financial issues
Financial Institutions, Valuations, Mergers and Acquisitions,Third Edition presents a new regulatory framework for financialinstitutions in the post-bailout era.Provides valuable guidance to assess risks, measure performanceand conduct valuations processes to create shareholder valueCovers the protection of other stakeholders, includingcustomers, regulators, government, and consumersOffers an up-to-date understanding of financial institutions,their challenges, and their opportunities in thepost-Sarbanes-Oxley era
Over the past decade, substantial changes have taken place inthe structure and range of products and services provided by thefinancial services industry. Get current coverage of these changesthat have transformed both traditional organizations such as banks,thrifts, and insurance companies, as well as securities providers,asset management companies and financial holding companies with theup-to-the-minute coverage found in Financial Institutions,Valuations, Mergers and Acquisitions, Third Edition.
Discounts and premiums do not just affect the value of a company; they play a crucial role in influencing a host of other factors and conditions that can make or break a deal. When it comes to business valuations, it's the business appraiser's responsibility to be intimately knowledgeable with every aspect of discounts and premiums: the different types, the situations when they may or may not apply, and how to quantify them.
In this newly updated edition of Business Valuation: Discounts and Premiums, Shannon Pratt—one of the nation's most recognized and respected business valuation consultants—brings together the latest collective wisdom and knowledge about all major business discounts and premiums.
Addressing the three basic approaches to conducting a valuation—the income approach, the market approach, and the asset approach—Shannon Pratt deftly and logically details the different discounts or premiums that may be applicable, depending on the basic valuation approach used, and how the valuation approaches used affect the level.
Clearly written and thorough, Business Valuation: Discounts and Premiums, Second Edition provides business appraisers, accountants, attorneys, and business owners with an arsenal of information for their professional toolkit that can be applied to every major evaluation case they might face in any deal.
This updated edition features timely, comprehensive coverage on:Strategic acquisitionsExtensive empirical dataPre-IPO marketability discount studiesMerger and acquisition negotiations, empirical evidence from completed transactions, and positions taken by courts in litigationsStrategic acquisition premiumsStudies on minority discounts
Detailed, authoritative, and complete in its coverage, Business Valuation: Discounts and Premiums, Second Edition gets to the core of one of the more complex challenges faced by business appraisers, and arms readers with the understanding and techniques needed to successfully meet and exceed their job expectations.
Because earnings and P/E ratios are too unreliable for valuation, this book takes you beyond earnings and shows you how to apply the HOLT CFROI and Economic Profit framework in a step-by-step manner. A better measure of profitability results in improved capital allocation decisions and fundamental valuations.
This ground-breaking book offers the first practical in-depth discussion of how profitability and growth fade, and shows how to put this information to work right away. The authors introduce their trailblazing Fundamental Pricing Model which includes fade as an adjustable value driver and can be used to value the impact of business model disruption.
As the authors explain, the key to superior stock picking is understanding the expectations embedded in a stock’s price and having a clear view of whether the company can beat those expectations. The HOLT framework has been rigorously field tested for over 40 years by global investment professionals to help them make better stock picks and by corporate managers to understand the expectations embedded in their stock price.Beyond Earnings is an indispensable guide for investors who want to improve their odds of outperforming the competition.
Financial Valuation Workbook cuts the learning curve in half, with practical training for use with any valuation textbook. Packed with tools, resources, and over 300 exercises, this book helps novices get a handle on the complex valuation process, while helping more experienced practitioners organize their engagements. Checklists, flowcharts, reports, information requests, and other resources help streamline the workflow and ensure thorough review, while in-depth coverage places the complexities of the field front-and-center. This new fourth edition features a brand new expanded case study for real-world insight, accompanied by exercises with explanations that deepen the learning process. Expert tips are highlighted throughout to provide additional insight in specific situations, and exercises from basic to advanced map to established training processes.
Valuation is as an art, as well as a science, and simply reading a textbook only goes halfway toward true learning—applying what you learn is critical. This book provides hands-on practice alongside useful tools and valuable insight to help solidify your understanding of the many facets of this complex field.Delve into the intricacies of valuation with a new expanded case study and expert tipsFollow checklists and flowcharts for each phase of the valuation processUse reports, information requests, and other tools that help organize your workflowTest your understanding with over 300 exercises organized by major area
Organized into standard, recognized, and easily identified sections that lend themselves to quick refreshers as well as start-to-finish study, this book is a truly useful resource for beginner and veteran alike. Whether you're learning valuation for the first time or simply need guidance on an unfamiliar situation, Financial Valuation Workbook provides a key resource for any business valuation professional.
Expanding on these key skills every startup founder should know, this Founder’s Pocket Guide helps you learn how to:
• Build your basic cap table step by step, including founder’s shares, option pools, angel investor rounds, and VC rounds.
• Decipher cap table specific lingo, such as fully-diluted shares outstanding, preferred shares vs. common shares, Series A, Series B, and so on.
• Establish a stock option pool in your cap table and understand the option pool effect on founder dilution.
• Understand the simple math behind cap table formulas and calculations, including calculating fully diluted shares outstanding, investor equity ownership percentages, and share price.
Fundraising in the Digital Age is a collection of Tullman’s straightforward, plain-spoken principles which are crucial to the successful funding, launching and development of a new start-up today in almost any technology-driven marketplace.
Tullman writes a regular weekly blog on The Perspiration Principles for Inc. Magazine on a variety of start-up topics. This book, however, focuses specifically on Fundraising in the Digital Age.
Review the Complete Process.This concise guide gives entrepreneurs a complete overview of the angel funding process, answering the most frequent questions entrepreneurs face as they build new companies.
Save Time and Avoid Pitfalls.If you are new to the startup funding process and need to raise angel capital, start with this book. It strips away non essentials and provides you with fundamental, easy-to-reference information so you can move on to building your venture. Concise explanations help you understand angel investor expectations and go into investment discussions prepared and knowledgeable.
Questions answered in this Founder’s Pocket Guideinclude:
· Is my startup really “investor ready”?
· How much can my startup legally raise?
· How much equity should I give up to investors?
· How much money is realistic to raise from angels?
· What is a pre-money valuation and how can I determine the right amount?
· What do terms such as dilution, convertible debt, and cap table mean?
· What is a term sheet, and how does it affect an investment deal?
· What is the difference between preferred shares and common shares?
· What stage does my startup need to be at to be interesting to angel investors?
All the steps are fully explained with screenshots from a case model which can be downloaded online and used to practice as you work through the manual. The manual contains additional chapters focussing on circularity in models and how to troubleshoot related problems. The manual also includes a guide on to how to thoroughly check a model for errors and how to resolve them, and an introduction to the key Excel keyboard shortcuts and functions that will ensure fast, accurate modelling.
To download the accompanying excel model for this manual please go to https://bgmanual.learnupon.com - See more at: http://www.firstywork.com/BGConsulting/index.htm?/Financial+Modelling+Manual/&bid=9780954449698#sthash.voWBn6Dv.dpuf
This unprecedented text provides:Clear guidance and perspective on business valuation from twoof the nation’s top authorities, Hon. David Laro and DrShannon Pratt.Insightful perspective and discussion on critical issues,procedures and law pertaining to business valuation.An overview of business valuation proceduresLaw and techniques of Fair Market Value Opinion from the Hon.David Laro and Dr. Shannon Pratt who express their unique andcritical views.The business valuer with everything from the basics to thesophisticated. From definitions to valuing complex businessinterests, what you need to know about business valuation.Everything from empirical market evidence to credible expertbusiness valuation testimony discussed and analyzed by the Hon.David Laro and Dr. Shannon Pratt.
"Writing a book on financial reporting is a challenge in and ofitself, let alone to focus on the shifting sands of valuation infinancial reporting. Yet, Mard and company have done it again, andthis time, it is even more user-friendly, easy to read, andtopical. If you intend to wade into the swift currents of providingvaluation services for financial reporting, you must have Valuationfor Financial Reporting in your library or on your desk!"—Neil J. Beaton, CPA/ABV, CFA, ASA, National Partner in Chargeof Valuation Services, Grant Thornton, LLP
"I really like the flowcharts. The authors take the complexworld of fair value measurement for business combinations andconvert it to easily understandable and usable flowcharts,worksheets, and checklists." —Gordon Goodman, Trading ControlOfficer, Occidental Petroleum, and member of the FASB ValuationResource Group
"The comments on efficient markets and faithful representationin the first chapter were very (very) helpful and well written.Masterful! Great book and I look forward to adding it to thelibrary!" —Robin E. Taylor, CPA/ABV, CFE, CVA, CBA, DixonHughes PLLC, and Chairman, AICPA Business Valuation Committee
Business leaders rely on accounting data such as profit and calculated costs as a guide to whether they are making money. Should they? Accounting was designed to report financial performance not model cash flow. Accruals can disconnect cash flow from the timing and extent to which it occurs. Statements of cash flow do not provide insight into what was bought and how efficiently it was used. Costs and profits are not absolute, they change based on the model you use to calculate them.
To manage cash, you must manage what you buy and how effectively you use it. The largest expenditure for most companies is capacity; space, labor, materials, equipment, and technology. Unless you model and manage capacity effectively, you will not achieve the cash flow results you seek. This book introduces capacity management, describes cash flow dynamics, and offers ideas about how to manage both. After reading it, you be able to see, understand, and manage cash flow as never before.
Expanding on these fundraising concepts, this Founder’s Pocket Guide helps startup founders learn:
What a term sheet is and how to summarize the most important deal terms for your fundraising and startup building goals.
How preferred stock shares differ from common shares, with review of how each key preferred share right and preference is tied to the investor’s shares.
Key terms and definitions associated with equity fundraising, such as pre-money valuation, founder dilution, and down round.
How to decipher legalese associated with a term sheet deal, such as pro rata, fully diluted, and pari passu.
The full list of the most common term sheet clauses, their plain English meaning, and their importance to an early-stage investment deal.
Simple math for the key term sheet financial aspects, including calculating fully diluted shares outstanding, investor equity ownership percentages, and the impact of option pools on founder dilution.
Example exit scenarios, showing how term sheet deal points impact how exit proceeds get divided among investors and founders.
A companion to Shannon Pratt’s Business Valuation Bodyof Knowledge, Second Edition or a stand-alone resource, theBusiness Valuation Body of Knowledge Workbook, SecondEdition keeps ABV, ASA, CBA, and CVA candidates and currentpractitioners up to speed on the latest developments in thisconstantly changing discipline.
Order your copy today!
Combining theoretical and practice perspectives, this comprehensive Companion addresses the role of IC inside and between organisations and institutions and how these contribute to the IC of nations, regions and clusters.
Drawing on an extensive range of leading contributors,The Routledge Companion to Intellectual Capital will be of interest to scholars who want to understand IC from a variety of perspectives, as well as students who are seeking an authoritative and comprehensive source on IC and knowledge management.
From "one-stop shopping" for financial services to majorstructural shifts within the industry, rapid changes in informationtechnology, trends toward business combinations, statutory laws,and global competition have contributed to breaking down thegeographic and product barriers that once separated traditionalfinancial institutions from other financial entities. This completeauthoritative resource is designed for all financial professionalsinvolved in business valuations, mergers, and acquisitions, andincludes:How operations are regulatedHow organizations are valued and why they mergeRelated accounting standardsMerger and acquisition processesThe Gramm-Leach-Bliley Financial Modernization Act of 1999Target bank analysis and tax requirements. . . and much more.
Written by an expert in the field, Financial Institutions,Valuations, Mergers, and Acquisitions is an essential toolfor keeping up with the increasing and crucial changes in thefinancial services industry.
Data previously published in the 2007 Duff & Phelps Risk Premium Report Data previously published in the Morningstar/Ibbotson 2007 Stocks, Bonds, Bills, and Inflation (SBBI) Valuation Yearbook The Valuation Handbook – 2007 U.S. Essentials Edition includes data through December 31, 2006, and is intended to be used for 2007 valuation dates.
The Valuation Handbook – U.S. Guide to Cost of Capital, Essentials Editions are designed to function as historical archives of the two sets of valuation data previously published annually in:
The Morningstar/Ibbotson Stocks, Bonds, Bills, and Inflation (SBBI) Valuation Yearbook from 1999 through 2013 The Duff & Phelps Risk Premium Report from 1999 through 2013 The Duff & Phelps Valuation Handbook – U.S. Guide to Cost of Capital from 2014 The Valuation Handbook – U.S. Essentials Editions are ideal for valuation analysts needing "historical" valuation data for use in:
The preparation of carve-out historical financial statements, in cases where historical goodwill impairment testing is necessary Valuing legal entities as of vintage date for tax litigation related to a prior corporate restructuring Tax litigation related to historical transfer pricing policies, etc. The Valuation Handbook – U.S. Essentials Editions are also designed to serve the needs of:
Corporate finance officers for pricing or evaluating mergers and acquisitions, raising private or public equity, property taxation, and stakeholder disputes Corporate officers for the evaluation of investments for capital budgeting decisions Investment bankers for pricing public offerings, mergers and acquisitions, and private equity financing CPAs who deal with either valuation for financial reporting or client valuations issues Judges and attorneys who deal with valuation issues in mergers and acquisitions, shareholder and partner disputes, damage cases, solvency cases, bankruptcy reorganizations, property taxes, rate setting, transfer pricing, and financial reporting For more information about Duff & Phelps valuation data resources published by Wiley, please visit www.wiley.com/go/valuationhandbooks.
"The Second Edition of Business Valuation: An Integrated Theorymanages to present the theoretical analysis of valuation from thefirst edition and expand on that discussion by providing additionalguidance on implementing the relevant valuation theories, notablyin its expanded discussion of the Quantitative MarketabilityDiscount Model."
-Dr. David Tabak
NERA Economic Consulting
Your Essential Valuations Reference
Whether you are an accountant, auditor, financial planner, orattorney, Business Valuation: An Integrated Theory, Second Editionenables you to understand and correctly apply fundamental valuationconcepts. Thoroughly revised and expanded, the Second Editiondemystifies modern valuation theory, bringing together variousvaluation concepts to reveal a comprehensive picture of businessvaluation.
With the implementation of new accounting pronouncements mandatingthe recognition of numerous assets and liabilities at fair value,it has become critical for CPAs charged with auditing financialstatements to understand valuation concepts.
With thoughtful and balanced treatment of both theory andapplication, this essential guide reveals:
The "GRAPES of Value"-Growth, Risk and Reward, AlternativeInvestments, Present Value, Expectations, and Sanity
The relationship between the Gordon Model and the discounted cashflow model of valuation
The basis for commonly applied, but commonly misunderstoodvaluation premiums and discounts
A practical perspective on the analysis of potential businessacquisitions
Grounded in the real world of market participants, BusinessValuation, Second Edition addresses your need to understandbusiness valuation, providing a means of articulating valuationconcepts to help you negotiate value-enhancing transactions.
If you want to get back to valuation basics, this useful referencewill become your guide to defining the various levels of value anddeveloping a better understanding of business appraisal reports.
Valuation is at the heart of everything that Wall Street does.Every day, millions of transactions to purchase or sell companiestake place based on prices created by the activities of all marketparticipants. In this book, author Keith Allman provides you with acore model to value companies.
Corporate Valuation Modeling takes you step-by-stepthrough the process of creating a powerful corporate valuationmodel. Each chapter skillfully discusses the theory of the concept,followed by Model Builder instructions that inform you of everystep necessary to create the template model. Many chapters alsoinclude a validation section that shows techniques andimplementations that you can employ to make sure the model isworking properly.Walks you through the full process of constructing a fullydynamic corporate valuation modelA Tool Box section at the end of each chapter assists readerswho may be less skilled in Excel techniques and functions
Complete with a companion CD-ROM that contains constructedmodels, this book is an essential guide to understanding theintricacies of corporate valuation modeling.
Note: CD-ROM/DVD and other supplementary materials arenot included as part of eBook file.
Winner of the National Academy of Sciences Best Book Award in 2012
Selected by the New York Times Book Review as one of the ten best books of 2011
A Globe and Mail Best Books of the Year 2011 Title
One of The Economist's 2011 Books of the Year
One of The Wall Street Journal's Best Nonfiction Books of the Year 2011
2013 Presidential Medal of Freedom Recipient
Kahneman's work with Amos Tversky is the subject of Michael Lewis's The Undoing Project: A Friendship That Changed Our Minds
In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions.
Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.
This complete summary of the ideas from Joel Stern and John Shiely's book "The EVA Challenge" shows how Economic Value Added is the best and most direct measure of whether a business is creating wealth when the cost of its capital has been taken into account. EVA also aligns precisely the interests of the company’s owners with the interests of the managers in a way that is free of the distortions and vagaries of accounting conventions. In their book, the authors demonstrate that effectively harnessing EVA will require three components: a measurement system, an incentive system and a financial management system. This summary explains each of these components and how you can implement them to analyse the success of a business.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The EVA Challenge" and find out how you can master the art of Economic Value Added.
P2P LIPI continues the project in 2012 under the focus on “Feasibility study of ECA between Indonesia and Taiwan” by using two methodologies (or tools). First, Global Trade Analysis Project (GTAP) is to analyze the impact of ECA in the general equilibrium and the aggregated level. Second, Single Market Partial Equilibrium Simulation Tool (SMART) is to analyze impact the ECA in the partial equilibrium and disaggregated level. The Feasibility study covers two mean aspects: (1) potential impacts of ECA Indonesia and Taiwan’s trade relations. (2) potential regulatory cooperation between the two economics entities under the scheme of ECA.
To deal with the asymmetric positions between Indonesia and Taiwan, government, civil society and private sector must have the same knowledge and understanding on how to reduce the gaps. This study has also shown a fruitful economic and trade relations between Indonesia Taiwan, although there are some conditions that need to be considered. First, since Indonesia has no diplomatic ties with Taiwan, the process of ECA will be much more difficult. The preparational stage will be the most important part to negotiate any policy an single commodity in details, including environmental factor. This is primarily to reduce negative impact from Taiwan’s FDI in Indonesia. Indonesia must pay more attention in the domestic priorities (trade and investment) that must be negotiated carefully in the context of ECA. This has to be the focus of the Indonesia’s government policies. Economic growth has to be parallel with the distribution of income.
Second, Indonesia generally earns minimum benefits from the ongoing FTAs. Therefore, ECA has to be constructed for producing more economic advantages for Indonesia. The most possible scenario under ECA is be strengthening the “Private to Private” (P to P) or “Business to Business” (B to B) ties. The political reality remains that China has taken different political treatment to Taiwan. In the regional context, ASEAN also respects to the One China Policy, although Taiwan has its own interpretation about the policy. In the context of ECFA (Economic Cooperation Framework Agreement), China and Taiwan, have different interpretations about ECFA.
While many people talk about how great it is to start a business, very few are honest about how difficult it is to run one. Ben Horowitz analyzes the problems that confront leaders every day, sharing the insights he’s gained developing, managing, selling, buying, investing in, and supervising technology companies. A lifelong rap fanatic, he amplifies business lessons with lyrics from his favorite songs, telling it straight about everything from firing friends to poaching competitors, cultivating and sustaining a CEO mentality to knowing the right time to cash in.
Filled with his trademark humor and straight talk, The Hard Thing About Hard Things is invaluable for veteran entrepreneurs as well as those aspiring to their own new ventures, drawing from Horowitz's personal and often humbling experiences.
Join David Ponder on his incredible journey to discover the Seven Decisions for Success that can turn any life around, no matter how hopeless a situation may seem. A New York Times, Wall Street Journal, USA Today, and Publisher’s Weekly bestseller, The Traveler’s Gift is the continuation of David Ponder’s story in The Traveler’s Summit.
All our lives are constrained by limited space and time, limits that give rise to a particular set of problems. What should we do, or leave undone, in a day or a lifetime? How much messiness should we accept? What balance of new activities and familiar favorites is the most fulfilling? These may seem like uniquely human quandaries, but they are not: computers, too, face the same constraints, so computer scientists have been grappling with their version of such problems for decades. And the solutions they've found have much to teach us.
In a dazzlingly interdisciplinary work, acclaimed author Brian Christian (who holds degrees in computer science, philosophy, and poetry, and works at the intersection of all three) and Tom Griffiths (a UC Berkeley professor of cognitive science and psychology) show how the simple, precise algorithms used by computers can also untangle very human questions. They explain how to have better hunches and when to leave things to chance, how to deal with overwhelming choices and how best to connect with others. From finding a spouse to finding a parking spot, from organizing one's inbox to understanding the workings of human memory, Algorithms to Live By transforms the wisdom of computer science into strategies for human living.
—Jerome Groopman, New York Times bestselling author of How Doctors Think
"Ariely not only gives us a great read; he also makes us much wiser."
—George Akerlof, 2001 Nobel Laureate in Economics
—New York Times Book Review
Why do our headaches persist after we take a one-cent aspirin but disappear when we take a fifty-cent aspirin? Why do we splurge on a lavish meal but cut coupons to save twenty-five cents on a can of soup?
When it comes to making decisions in our lives, we think we're making smart, rational choices. But are we?
In this newly revised and expanded edition of the groundbreaking New York Times bestseller, Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless. They're systematic and predictable—making us predictably irrational.
"It's New Year's resolution time, and Mark Cuban's new book offers the rationale for a good one." —BUSINESS INSIDER
Using the greatest material from his popular Blog Maverick, Cuban has collected and updated his postings on business and life to provide a catalog of insider knowledge on what it takes to become a thriving entrepreneur. He tells his own rags-to-riches story of how he went from selling powdered milk and sleeping on friends' couches to owning his own company and becoming a multi-billion dollar success story. His unconventional yet highly effective ideas on how to build a successful business offer entrepreneurs at any stage of their careers a huge edge over their competitors.
"In short, [HOW TO WIN AT THE SPORT OF BUSINESS] exceeded...expectations. Short chapters...got right to the point and were not filled with 'stuffing'." —HUFFINGTON POST
WALL STREET JOURNAL BESTSELLER
“Sprint offers a transformative formula for testing ideas that works whether you’re at a startup or a large organization. Within five days, you’ll move from idea to prototype to decision, saving you and your team countless hours and countless dollars. A must read for entrepreneurs of all stripes.” —Eric Ries, author of The Lean Startup
From three partners at Google Ventures, a unique five-day process for solving tough problems, proven at more than a hundred companies.
Entrepreneurs and leaders face big questions every day: What’s the most important place to focus your effort, and how do you start? What will your idea look like in real life? How many meetings and discussions does it take before you can be sure you have the right solution?
Now there’s a surefire way to answer these important questions: the sprint. Designer Jake Knapp created the five-day process at Google, where sprints were used on everything from Google Search to Google X. He joined Braden Kowitz and John Zeratsky at Google Ventures, and together they have completed more than a hundred sprints with companies in mobile, e-commerce, healthcare, finance, and more.
A practical guide to answering critical business questions, Sprint is a book for teams of any size, from small startups to Fortune 100s, from teachers to nonprofits. It’s for anyone with a big opportunity, problem, or idea who needs to get answers today.
The primary obstacle is a conflict that's built into our brains, say Chip and Dan Heath, authors of the critically acclaimed bestseller Made to Stick. Psychologists have discovered that our minds are ruled by two different systems - the rational mind and the emotional mind - that compete for control. The rational mind wants a great beach body; the emotional mind wants that Oreo cookie. The rational mind wants to change something at work; the emotional mind loves the comfort of the existing routine. This tension can doom a change effort - but if it is overcome, change can come quickly.
In Switch, the Heaths show how everyday people - employees and managers, parents and nurses - have united both minds and, as a result, achieved dramatic results:
- The lowly medical interns who managed to defeat an entrenched, decades-old medical practice that was endangering patients
- The home-organizing guru who developed a simple technique for overcoming the dread of housekeeping
- The manager who transformed a lackadaisical customer-support team into service zealots by removing a standard tool of customer service
In a compelling, story-driven narrative, the Heaths bring together decades of counterintuitive research in psychology, sociology, and other fields to shed new light on how we can effect transformative change. Switch shows that successful changes follow a pattern, a pattern you can use to make the changes that matter to you, whether your interest is in changing the world or changing your waistline.
Nassim Nicholas Taleb, the bestselling author of The Black Swan and one of the foremost thinkers of our time, reveals how to thrive in an uncertain world.
Just as human bones get stronger when subjected to stress and tension, and rumors or riots intensify when someone tries to repress them, many things in life benefit from stress, disorder, volatility, and turmoil. What Taleb has identified and calls “antifragile” is that category of things that not only gain from chaos but need it in order to survive and flourish.
In The Black Swan, Taleb showed us that highly improbable and unpredictable events underlie almost everything about our world. In Antifragile, Taleb stands uncertainty on its head, making it desirable, even necessary, and proposes that things be built in an antifragile manner. The antifragile is beyond the resilient or robust. The resilient resists shocks and stays the same; the antifragile gets better and better.
Furthermore, the antifragile is immune to prediction errors and protected from adverse events. Why is the city-state better than the nation-state, why is debt bad for you, and why is what we call “efficient” not efficient at all? Why do government responses and social policies protect the strong and hurt the weak? Why should you write your resignation letter before even starting on the job? How did the sinking of the Titanic save lives? The book spans innovation by trial and error, life decisions, politics, urban planning, war, personal finance, economic systems, and medicine. And throughout, in addition to the street wisdom of Fat Tony of Brooklyn, the voices and recipes of ancient wisdom, from Roman, Greek, Semitic, and medieval sources, are loud and clear.
Antifragile is a blueprint for living in a Black Swan world.
Erudite, witty, and iconoclastic, Taleb’s message is revolutionary: The antifragile, and only the antifragile, will make it.
Praise for Antifragile
“Ambitious and thought-provoking . . . highly entertaining.”—The Economist
“A bold book explaining how and why we should embrace uncertainty, randomness, and error . . . It may just change our lives.”—Newsweek
A new story of common wisdom from the best-selling author of The Traveler’s Gift.
Orange Beach, Alabama, is a simple town filled with simple people. But like all humans on the planet, the good folks of Orange Beach have their share of problems—marriages teetering on the brink of divorce, young adults giving up on life, business people on the verge of bankruptcy, as well as the many other obstacles that life seems to dish out to the masses.
Fortunately, when things look the darkest, a mysterious man named Jones has a miraculous way of showing up. An elderly man with white hair, of indiscriminate age and race, wearing blue jeans, a white T-shirt and leather flip flops carrying a battered old suitcase, Jones is a unique soul. Communicating what he calls “a little perspective,” he explains that he has been given a gift of noticing things that others miss. “Your time on this earth is a gift to be used wisely,” he says. “Don’t squander your words or your thoughts. Consider even the simplest action you take, for your lives matter beyond measure…and they matter forever.”
Jones speaks to that part in everyone that is yearning to understand why things happen and what we can do about it.
Like The Traveler’s Gift, The Noticer is a unique narrative blend of fiction, allegory, and inspiration in which gifted storyteller Andy Andrews helps us see how becoming a “noticer” just might change a person’s life forever.
The story of Jones continues in The Noticer Returns, available now. The Noticer and The Noticer Returns also are available in Spanish, La maleta and Perspectiva.
#1 Wall Street Journal Business Bestseller
Instant Washington Post Bestseller
"Brims with a surprising amount of insight and practical advice." --The Wall Street Journal
Daniel H. Pink, the #1 bestselling author of Drive and To Sell Is Human, unlocks the scientific secrets to good timing to help you flourish at work, at school, and at home. An excellent gift this holiday season.
Everyone knows that timing is everything. But we don't know much about timing itself. Our lives are a never-ending stream of "when" decisions: when to start a business, schedule a class, get serious about a person. Yet we make those decisions based on intuition and guesswork.
Timing, it's often assumed, is an art. In When: The Scientific Secrets of Perfect Timing, Pink shows that timing is really a science.
Drawing on a rich trove of research from psychology, biology, and economics, Pink reveals how best to live, work, and succeed. How can we use the hidden patterns of the day to build the ideal schedule? Why do certain breaks dramatically improve student test scores? How can we turn a stumbling beginning into a fresh start? Why should we avoid going to the hospital in the afternoon? Why is singing in time with other people as good for you as exercise? And what is the ideal time to quit a job, switch careers, or get married?
In When, Pink distills cutting-edge research and data on timing and synthesizes them into a fascinating, readable narrative packed with irresistible stories and practical takeaways that give readers compelling insights into how we can live richer, more engaged lives.
Using a new translation by James Trapp and including editorial notes, this edition of The Art of War lays the original Chinese text opposite the modern English translation. The book contains the full original 13 chapters on such topics as laying plans, attacking by stratagem, weaponry, terrain and the use of spies. Sun Tzu addresses different campaign situations, marching, energy and how to exploit your enemy’s weaknesses.
Of immense influence to great leaders across millennia, The Art of War is a classic text richly deserving this fresh modern translation.
Why do some children succeed while others fail? The story we usually tell about childhood and success is the one about intelligence: success comes to those who score highest on tests, from preschool admissions to SATs. But in How Children Succeed, Paul Tough argues that the qualities that matter more have to do with character: skills like perseverance, curiosity, optimism, and self-control.
How Children Succeed introduces us to a new generation of researchers and educators, who, for the first time, are using the tools of science to peel back the mysteries of character. Through their stories—and the stories of the children they are trying to help—Tough reveals how this new knowledge can transform young people’s lives. He uncovers the surprising ways in which parents do—and do not—prepare their children for adulthood. And he provides us with new insights into how to improve the lives of children growing up in poverty. This provocative and profoundly hopeful book will not only inspire and engage readers, it will also change our understanding of childhood itself.
“Illuminates the extremes of American childhood: for rich kids, a safety net drawn so tight it’s a harness; for poor kids, almost nothing to break their fall.”—New York Times
“I learned so much reading this book and I came away full of hope about how we can make life better for all kinds of kids.”—Slate
An innovation classic. From Steve Jobs to Jeff Bezos, Clay Christensen’s work continues to underpin today’s most innovative leaders and organizations.
The bestselling classic on disruptive innovation, by renowned author Clayton M. Christensen.
His work is cited by the world’s best-known thought leaders, from Steve Jobs to Malcolm Gladwell. In this classic bestseller—one of the most influential business books of all time—innovation expert Clayton Christensen shows how even the most outstanding companies can do everything right—yet still lose market leadership.
Christensen explains why most companies miss out on new waves of innovation. No matter the industry, he says, a successful company with established products will get pushed aside unless managers know how and when to abandon traditional business practices.
Offering both successes and failures from leading companies as a guide, The Innovator’s Dilemma gives you a set of rules for capitalizing on the phenomenon of disruptive innovation.
Sharp, cogent, and provocative—and consistently noted as one of the most valuable business ideas of all time—The Innovator’s Dilemma is the book no manager, leader, or entrepreneur should be without.
The future belongs to a different kind of person with a different kind of mind: artists, inventors, storytellers-creative and holistic "right-brain" thinkers whose abilities mark the fault line between who gets ahead and who doesn't.
Drawing on research from around the world, Pink (author of To Sell Is Human: The Surprising Truth About Motivating Others) outlines the six fundamentally human abilities that are absolute essentials for professional success and personal fulfillment--and reveals how to master them. A Whole New Mind takes readers to a daring new place, and a provocative and necessary new way of thinking about a future that's already here.
A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.
Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don’t know. We are, therefore, unable to truly estimate opportunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the “impossible.”
For years, Taleb has studied how we fool ourselves into thinking we know more than we actually do. We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world. In this revelatory book, Taleb explains everything we know about what we don’t know, and this second edition features a new philosophical and empirical essay, “On Robustness and Fragility,” which offers tools to navigate and exploit a Black Swan world.
Elegant, startling, and universal in its applications, The Black Swan will change the way you look at the world. Taleb is a vastly entertaining writer, with wit, irreverence, and unusual stories to tell. He has a polymathic command of subjects ranging from cognitive science to business to probability theory. The Black Swan is a landmark book—itself a black swan.
Praise for Nassim Nicholas Taleb
“The most prophetic voice of all.”—GQ
Praise for The Black Swan
“[A book] that altered modern thinking.”—The Times (London)
“A masterpiece.”—Chris Anderson, editor in chief of Wired, author of The Long Tail
“Idiosyncratically brilliant.”—Niall Ferguson, Los Angeles Times
“The Black Swan changed my view of how the world works.”—Daniel Kahneman, Nobel laureate
“[Taleb writes] in a style that owes as much to Stephen Colbert as it does to Michel de Montaigne. . . . We eagerly romp with him through the follies of confirmation bias [and] narrative fallacy.”—The Wall Street Journal
“Hugely enjoyable—compelling . . . easy to dip into.”—Financial Times
“Engaging . . . The Black Swan has appealing cheek and admirable ambition.”—The New York Times Book Review
Research in psychology has revealed that our decisions are disrupted by an array of biases and irrationalities: We’re overconfident. We seek out information that supports us and downplay information that doesn’t. We get distracted by short-term emotions. When it comes to making choices, it seems, our brains are flawed instruments. Unfortunately, merely being aware of these shortcomings doesn’t fix the problem, any more than knowing that we are nearsighted helps us to see. The real question is: How can we do better?
In Decisive, the Heaths, based on an exhaustive study of the decision-making literature, introduce a four-step process designed to counteract these biases. Written in an engaging and compulsively readable style, Decisive takes readers on an unforgettable journey, from a rock star’s ingenious decision-making trick to a CEO’s disastrous acquisition, to a single question that can often resolve thorny personal decisions.
Along the way, we learn the answers to critical questions like these: How can we stop the cycle of agonizing over our decisions? How can we make group decisions without destructive politics? And how can we ensure that we don’t overlook precious opportunities to change our course?
Decisive is the Heath brothers’ most powerful—and important—book yet, offering fresh strategies and practical tools enabling us to make better choices. Because the right decision, at the right moment, can make all the difference.
From the Hardcover edition.
New York Times bestseller
Named a Best Book of the Year by The Economist and the Financial Times
Every day we make choices—about what to buy or eat, about financial investments or our children’s health and education, even about the causes we champion or the planet itself. Unfortunately, we often choose poorly. Nudge is about how we make these choices and how we can make better ones. Using dozens of eye-opening examples and drawing on decades of behavioral science research, Nobel Prize winner Richard H. Thaler and Harvard Law School professor Cass R. Sunstein show that no choice is ever presented to us in a neutral way, and that we are all susceptible to biases that can lead us to make bad decisions. But by knowing how people think, we can use sensible “choice architecture” to nudge people toward the best decisions for ourselves, our families, and our society, without restricting our freedom of choice.
More than 750,000 copies sold