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January 12, 2006

News & Opinion: Additional Recommended Finance Reading

By: 800-CEO-READ @ 8:36 PM – Filed under: Current Events & Public Affairs

We believe, of course, that every manager should read Financial Intelligence. However, as we said in the book, a good manager shouldn't just look at the numbers to understand his or her business. So, here are a few books we recommend to round out your reading list:
  • A Stake in the Outcome -- What can go right and what can wrong in small, closely held businesses when equity is shared broadly.
  • First, Break All the Rules -- One perspective on what people really look for in a workplace and what makes a company great to work for.
  • Good to Great -- What it takes to be successful in the long term. We especially love the hedge hog concept.
  • Small Giants -- A look at successful entrepreneurs who care more about success and lifestyle than revenue and growth.
  • The Discipline of Market Leaders -- An understanding of the strategy behind some of the biggest and most successful companies in the last 30 years.
  • The Goal -- Introduces revolutionary concepts related to managing a manufacturing company. Goldratts project management finance philosophy mirrors our own.
If you want to read more about finance, then try the books listed below. We've included a few about a concept called open book management, an approach to managing a company that has to do with the numbers, as well as with communication and education, and is in alignment with our philosophy.
  • Great Game of Business -- The philosophy and elements of teaching everyone about the numbers, sharing them on a regular basis, and sharing equity. Some would say this is true financial transparency.
  • Maverick -- An even more radical approach to opening the books, including salary information and performance reviews. Not for everyone, but the employee manual at the end of the book is worth the read.
  • Open Book Management -- Great insights and stories about successful companies that opened the books.
  • Relevance Lost -- An explanation of why managerial accounting has gone in the wrong direction in the last 50 years.
  • The Interpretation of Financial Statements -- A look at how great investment thinkers of our time looked at financials. Buffett looked to Graham as his financial mentor.
  • The Warrant Buffett Portfolio -- Lots of financial analysis, so it isnt for everyone. But great insight into how Buffett thinks and invests.
Finally, if you want a good financial analysis text (if you really want to get in depth into the subject of finance), we recommend the book below. However, there are many more good ones out there. Corporate Finance by Ross and Westerfield Thanks It has been great sharing our thoughts with you today. Feel free to contact either one of us through our websites, either www.financialintelligencebook.com or www.business-literacy.com.