Last month I attended a SPIN Chennai program on Balanced Scored by Mr.Sudipto Marjit. Offline when I was speaking with Mr.Marjit he noticed the book I was reading (while waiting for the talk to start) – Profitable Growth Is Everyone’s Business by Mr.Ram Charan. Immediately he recommended that I also read Ram Charan’s What the CEO wants you to know?. I did exactly that this week and here is the review.
The first thing that strikes about the book (USD 20, INR 428) is its attractive title and the second is its thin size (about 140 pages). Before I say anything about the book I must say that this is a must read for anyone in any Business and it doesn’t matter whether you are working, managing or leading a business. Having said that the book can be a let down if you had focused too much on its lofty title. The book should have been titled “What everyone in business should know” or better “Quick start manual for businesses” . Let me give you a brief review of the book’s coverage:
- If you were wondering for a better term for saying “Business is in her blood” or “His gutfeel on business” Ram Charan has coined a beautiful phrase “Business Acumen” and he introduces the term and what it means very well.
- Introduction and simple english explanation to business speak like P/E Ratio, Return on Assets, Sales Turnovers.
- He introduces an simple formulae of R = M x V, where R is return on assets, M is After-Tax Margin and V is Velocity or Inventor turn. I found the way he talked about Velocity as a very useful idea.
- Need to have Right People in Right Job, the importance of Coaching
- Ram Charan introduces one more term “Social Operating Mechanism” which basically is how to motivate people at all levels and have them connected seamlessly as a team all the time
Overall a must read for every business person. Thanks Mr.Marjit for recommending this book.