January 12, 2006
News & Opinion: Additional Recommended Finance Reading
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.
- 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.