Economics Books
Dive into the dynamic world of economics with our wide array of books in the Economics collection. From global financial systems to local economic policies, our selection offers insights by leading economists and scholars.
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W. Chan Kim, Renée Mauborgne |
Harvard
Business
Review
Press
Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant : How to Create Uncontested Market Space and Make the Competition Irrelevant
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Goodreads rating: 4.01
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Blue Ocean Strategy is a must-read for entrepreneurs and managers who want to create new markets and succeed without having to worry about competition. The book explains how businesses can create their own "blue ocean" by focusing on innovation, value, and differentiation. It provides practical tools and examples that can help readers apply the concepts to their own businesses. Users have praised the book for its clear writing, real-world examples, and actionable insights that can make a real difference in their business.
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Sprint offers a step-by-step process for testing ideas effectively, saving time and money. This book is perfect for entrepreneurs and leaders who want a practical guide to answering critical business questions. The unique five-day process has been used in over a hundred companies and is proven to work for startups and large organizations alike. If you have a big opportunity, problem, or idea, Sprint can help you get answers quickly and efficiently.
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Scott Galloway
|
Penguin
Us
The Four : The Hidden DNA of Amazon, Apple, Facebook, and Google
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Goodreads rating: 3.84
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The Four is a must-read for anyone interested in the tech and business world. The book takes a deep dive into the success stories behind Amazon, Apple, Facebook, and Google and uncovers the strategies that fueled their ascent. It challenges common misconceptions and highlights the factors that make these companies so influential. Readers will learn how they can apply these lessons to their own careers or businesses to achieve similar success.
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Malcolm Gladwell
|
Little
Brown
&
Company
Outliers : The Story of Success
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Goodreads rating: 4.19
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"Outliers is a great read for those who are looking for a different perspective on success. Gladwell challenges the traditional narrative of success and explains how external factors such as birthplace, family, and birthdate can play a crucial role in determining success. His unique insights and storytelling make for an engaging and thought-provoking read."
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Bill Clinton
|
Knopf
Back to Work : Why We Need Smart Government for a Strong Economy
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Goodreads rating: 3.69
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This book offers insights from a former President of the United States on how government and private sector can work together towards restoring economic growth, job creation, financial responsibility, and pursuing strategies for the future. It provides specific recommendations on how to increase bank lending and corporate investment, double exports, and restore the manufacturing base to create new businesses. One of the recommended strategies is to adopt green technology, which can create both fast-growing economy and national security. Overall, the book stresses on the need for cooperation between government and the private sector in restoring prosperity.
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Robert T. Kiyosaki, Donald J. Trump |
Plata
Publishing
Why We Want You to be Rich
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Goodreads rating: 3.94
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En Queremos que seas rico , dos exitosos empresarios, Donald Trump y Rober T. Kiyosaki, brindan consejos para todo aquel que acaba de comenzar su propia empresa y quiere triunfar. De Robert T. Kiyosaki, autor de los bestsellers: Padre Rico, Padre Pobre , el libro #1 de finanzas personales de The New York Times por más de seis años; Niño rico, niño listo , Segunda oportunidad , entre otros . Donald Trump y Robert T. Kiyosaki se unen para decirle a los emprendedores cómo ser exitosos. No es necesario tener dinero para resolver los problemas financieros, éstos sólo se solucionan con una educación financiera adecuada. Es imprescindible que las personas adquieran conciencia sobre su futuro económico y no esperen que dependa de sus gobiernos, sus empleadores o sus familias. En este libro, dos exitosos empresarios y educadores hacen mancuerna para abordar este desafío y ofrecer respuestas contundentes y claras a las preguntas que todo emprendedor se formula antes y después de iniciar una empresa: cómo volverse rico; cómo invertir para ganar; cuáles son las ventajas de los inversionistas que los ahorradores no poseen y cómo elegir el campo de inversión apropiado.
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W. Chan Kim, Renée Mauborgne |
Hachette
Books
Blue Ocean Shift : Beyond Competing - Proven Steps to Inspire Confidence and Seize New Growth
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Goodreads rating: 3.92
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Blue Ocean Shift is the essential follow up to Blue Ocean Strategy, the classic and 3.6 million copy global bestseller by world-renowned professors W. Chan Kim and Renee Mauborgne. Drawing on more than a decade of new work, Kim and Mauborgne show you how to move beyond competing, inspire your people's confidence, and seize new growth, guiding you step-by-step through how to take your organization from a red ocean crowded with competition to a blue ocean of uncontested market space. By combining the insights of human psychology with practical market-creating tools and real-world guidance, Kim and Mauborgne deliver the definitive guide to shift yourself, your team, or your organization to new heights of confidence, market creation, and growth. They show why nondisruptive creation is as important as disruption in seizing new growth.
Blue Ocean Shift
is packed with all-new research and examples of how leaders in diverse industries and organizations made the shift and created new markets by applying the process and tools outlined in the book. Whether you are a cash-strapped startup or a large, established company, nonprofit or national government, you will learn how to move from red to blue oceans in a way that builds your people's confidence so that they own and drive the process. With battle-tested lessons learned from successes and failures in the field,
Blue Ocean Shift
is critical reading for leaders, managers, and entrepreneurs alike. You'll learn what works, what doesn't, and how to avoid the pitfalls along the way. This book will empower you to succeed as you embark on your own blue ocean journey.
Blue Ocean Shift
is indispensable for anyone committed to building a compelling future.
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Zig Ziglar
|
Butterworth-heinemann
Ltd
See You at the Top
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Goodreads rating: 4.22
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Step-by-step instructions on how to change the way we think about ourselves and our surroundings. The book takes a common-sense approach to living a successful life and stresses the importance of honesty, loyalty, faith, character and integrity.
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Jeff Cox, Eliyahu M. Goldratt |
Routledge
The Goal : A Process of Ongoing Improvement
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Goodreads rating: 4.08
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The Goal provides an insightful look into the Theory of Constraints and how it can be applied to improve efficiency and productivity in any industry. The fast-paced, thriller style of writing keeps readers engaged while the detailed case studies provide real-world examples of the methodology in action. This book is perfect for managers and business owners who are looking to improve their operations and achieve their goals.
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Jill Tracie Nichols, Satya Nadella, Greg Shaw |
Harper
Business
Hit Refresh : The Quest to Rediscover Microsoft's Soul and Imagine a Better Future for Everyone
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Goodreads rating: 3.79
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Foreword by Bill GatesMicrosoft’s CEO tells the inside story of the company’s continuing transformation, tracing his own personal journey from a childhood in India to leading some of the most significant technological changes in the digital era. As much a humanist as engineer and executive, Nadella concludes with his vision for the coming wave of intelligent technologies and a distinct call to action for leaders everywhere.Hit Refresh is about individual change, about the transformation happening inside of Microsoft and the technology that will soon impact all of our lives—the arrival of the most exciting and disruptive wave of technology humankind has experienced: artificial intelligence, mixed reality, and quantum computing.It’s about how people, organizations, and societies can and must transform "hit refresh" in their persistent quest for new energy, new ideas, and continued relevance and renewal. At its core, it’s about us humans and how our one unique quality—empathy—will become ever more valuable in a world where technological advancement will disrupt the status quo as never before.Satya Nadella explores a fascinating childhood before immigrating to the U.S. and how he learned to lead along the way. He then shares his meditations as sitting CEO—one who is mostly unknown following the brainy Bill Gates and energetic Steve Ballmer. He tells the inside story of how a company rediscovered its soul—transforming everything from culture to their fiercely competitive landscape and industry partnerships. Nadella concludes with his vision for the coming wave of technology and by exploring the potential impact to society and delivering call to action for world leaders."Ideas excite me," Nadella explains. "Empathy grounds and centers me." Hit Refresh is a reflection, meditations, and series of recommendations presented as algorithms from a principled, deliberative leader searching for improvement—for himself, for a storied company, and for society.
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Howard Schultz With Joanne Gordon
|
Rodale,
Inc
Onward : How Starbucks Fought for Its Life without Losing Its Soul
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Goodreads rating: 3.85
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Onward is the remarkable story of how Howard Schultz, CEO of Starbucks came back after facing painful revelation about internal troubles in the company's sustainability. Schultz offers readers an extraordinarily intimate look at his daily decision-sessions in Seattle, to conversation with coffee farmers in Rwanda, to investor presentations in New York during the worst of the economic turmoil. Onward is more than just a business book. Personally inspiring and unexpected candid, it brings a dramatic story to life with the emotional power and narrative suspense of a novel.
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Robert B. Cialdini
|
Random
House
Business
Pre-Suasion - A Revolutionary Way To Influence And Persuade
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Goodreads rating: 4.01
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Influence established Cialdini as the world’s foremost authority on the science of persuasion, winning plaudits from such figures as Dan Pink, Chip Heath and Tom Peters. In Pre-suasion, Cialdini builds on his investigations into the subtle world of influence to reveal that the best persuaders succeed not only because of what they say or how they say it, but because of what they do in the moment before they deliver their message. In the process he draws on a series of compelling case studies and a profound understanding of human psychology to offer a ground-breaking work that is both fascinating and brilliantly practical.
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Patrick J. McGinnis
|
Portfolio
The 10% Entrepreneur : Live Your Startup Dream Without Quitting Your Day Job
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Goodreads rating: 3.71
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The book could be a good read for someone who is considering starting a business but does not want to quit their day job. The book provides a step-by-step guide on how to invest only 10% of their resources and time to become an entrepreneur without losing a steady paycheck. It also profiles real-world examples of successful 10% entrepreneurs, detailing the multiple paths one can follow to invest their resources and expertise in a start-up. The unique and distinctive feature of the book is its emphasis on achieving the benefits of entrepreneurship while maintaining the stability of a traditional career.
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John Brooks
|
Open
Road
Media
Business Adventures: Twelve Classic Tales from the World of Wall Street
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Goodreads rating: 3.82
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Business Adventures is a must-read for business enthusiasts, as it offers valuable insight into the intricacies of corporate life. The book's unique feature lies in its engaging storytelling style that turns complex business events into easily comprehensible and memorable tales. By reading this book, users can learn from the successes and failures of iconic companies such as Ford, Xerox, General Electric, and Texas Gulf Sulphur, and apply those lessons to their own business ventures.
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Dan Ariely
|
Simon
&
Schuster/
Ted
Payoff : The Hidden Logic That Shapes Our Motivations
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Goodreads rating: 3.71
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Bestselling author Dan Ariely reveals fascinating new insights into motivation--showing that the subject is far more complex than we ever imagined. Every day we work hard to motivate ourselves, the people we live with, the people who work for and do business with us. In this way, much of what we do can be defined as being "motivators." From the boardroom to the living room, our role as motivators is complex, and the more we try to motivate partners and children, friends and coworkers, the clearer it becomes that the story of motivation is far more intricate and fascinating than we've assumed. Payoff investigates the true nature of motivation, our partial blindness to the way it works, and how we can bridge this gap. With studies that range from Intel to a kindergarten classroom, Ariely digs deep to find the root of motivation--how it works and how we can use this knowledge to approach important choices in our own lives. Along the way, he explores intriguing questions such as: Can giving employees bonuses harm productivity? Why is trust so crucial for successful motivation? What are our misconceptions about how to value our work? How does your sense of your mortality impact your motivation?
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Geoffrey A. Moore
|
Diversion
Books
Zone to Win : Organizing to Compete in an Age of Disruption
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Goodreads rating: 3.86
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"Zone to Win" is a practical guidebook for established enterprises to overcome limitations and succeed in a disruptive business world. Geoffrey Moore's vast experience and consulting work with companies like Salesforce and Microsoft have made this book a powerful tool for businesses looking to grow and embrace innovation. This book offers a step-by-step guide for spurring growth, initiating mergers and acquisitions, and standing out among competitors. Highly recommended for executives and entrepreneurs looking for practical solutions.
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Seth Godin
|
Portfolio
Purple Cow, New Edition : Transform Your Business by Being Remarkable
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Goodreads rating: 3.78
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Purple Cow could be a good read for entrepreneurs and business owners looking to make their products and companies more remarkable. Seth Godin inspires readers to think outside the box and create products that are worth marketing. His stories about companies like Starbucks and Apple serve as great examples of what it means to be a remarkable product. This book could help users stand out in their industry and gain a competitive edge.
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Daniel Kahneman
|
Farrar,
Straus
And
Giroux
Thinking, Fast and Slow
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Goodreads rating: 4.18
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This book is an insightful and practical guide to understanding how we think and make decisions. It explores the fast and intuitive System 1 and the slower, more logical System 2 and how they shape our judgments and choices in our personal and professional lives. Through engaging conversations, Kahneman provides practical and enlightening insights into how we can tap into the benefits of slow thinking and guard ourselves against mental glitches. This book is a must-read for anyone looking to improve their decision-making skills.
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Daniel Kahneman
|
Farrar,
Straus
And
Giroux
Thinking, Fast and Slow
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Goodreads rating: 4.18
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A highly recommended book for those who are interested in understanding how the human mind works and its impact on making decisions. The book provides a clear insight into the two systems that drive the way we think and helps to understand cognitive biases that may create obstacles in decision-making processes. Kahneman offers useful techniques and practical insights that can help in making more deliberate and logical choices.
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Heather McGowan, Chris Shipley |
Wiley
The Adaptation Advantage : Let Go, Learn Fast, and Thrive in the Future of Work
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Goodreads rating: 3.94
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The Adaptation Advantage provides a practical guide to navigating the complex and rapidly changing future of work. Through insightful interviews with executives and thought leaders, the authors explore how work and leadership are evolving, and offer actionable advice for how individuals and organizations can adapt to thrive in this new era. The book's most unique and distinctive feature is its emphasis on embracing change as a means to unlock human potential, rather than fearing or resisting it. Readers will come away with a new perspective on work and a toolkit for pursuing purpose-driven careers.
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Bill Gates
|
Random
House
Large
Print
Publishing
How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need
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Goodreads rating: 4.13
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If you're someone deeply concerned about climate change but feel overwhelmed by the complexity of the problem, Gates offers you a digestible and motivating plan. He uses his tech and business acumen to dissect and present actionable steps, not just for policymakers but for individuals as well. Reading this book feels like having a pragmatic friend guide you through a crisis with a mix of hard truths and hopeful solutions.
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Louai Al Roumani
|
Penguin
Lessons from a Warzone : How to be a Resilient Leader in Times of Crisis
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Goodreads rating: 4.02
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A STORY OF HOPE, PERSEVERANCE AND RESILIENCE IN THE MIDST OF WARLouai Al Roumani was head of finance and planning at one of the largest banks in Syria, when the war broke out in 2011.In Lessons from a Warzone , Al Roumani shares his very personal account of coping with the day-to-day realities of leading an organization in dangerous and hostile conditions. His story shows how inspiration can come from the unlikeliest of places - from the timeless wisdom of merchants in ancient souks to the changing patterns of military checkpoints. During that time, not only did the bank remain robust when others faltered - it thrived and became the undisputed leading bank as people's trust in its capability to safeguard their lifelong savings strengthened.In this book, Al Roumani distills the knowledge and skills he and his colleagues developed while steering the bank through four impossible years into ten lessons applicable to any leader facing a crisis today. His valuable, and often counterintuitive, advice - ranging from resisting over-planning to hacking your own IT department to cutting costs (but not morale) - will help anyone understand how to be resilient even in the most challenging of times.
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Willie Cheng
|
Straits
Times
Press
Doing Good Better: Choices And Paradigms In The Social Ecosystem
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Goodreads rating: 4.5
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This book is a must-read for anyone looking to navigate the social ecosystem and make a positive difference in the world. Willie Cheng delves deep into the intricate web of choices and paradigms that shape our society, offering thought-provoking perspectives and practical insights. With a wealth of research, case studies, and personal experiences, Cheng sheds light on the challenges faced by nonprofits, businesses, and individuals in their pursuit of doing good. Through his engaging writing style, he empowers readers with the knowledge and tools to navigate the complexities of social impact and take meaningful action. Get ready to unlock a new level of effectiveness in making a difference.
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Eric Ries
|
Crown
Business
The Lean Startup : How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
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Goodreads rating: 4.11
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The Lean Startup by Eric Ries emphasizes the importance of validated learning, rapid experimentation and adapting to feedback for building successful start-ups. This book is perfect for entrepreneurs who want to create innovative products and services that are both efficient and profitable. The book's focus on learning from mistakes and continually iterating helps in building a sustainable business model.
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Matthew Syed
|
Harper
Perennial
Bounce : Mozart, Federer, Picasso, Beckham, and the Science of Success
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Goodreads rating: 4.07
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“A cutting edge dissection—and ultimate destruction—of the myth of innate talent in the pursuit of excellence. Syed synthesizes his evidence with the precision of an academic, writes with the fluidity of a journalist, and persuades with the drive of a sportsman. Read this book now—before its too late. There are no excuses!” — Mark Thomas, Professor of Evolutionary Genetics, University College London In the vein of the international bestselling Freakonomics , award-winning journalist Matthew Syed reveals the hidden clues to success—in sports, business, school, and just about anything else that you’d want to be great at. Fans of Predictably Irrational and Malcolm Gladwell’s The Tipping Point will find many interesting and helpful insights in Bounce .
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Bina Venkataraman
|
Riverhead
Books
The Optimist's Telescope : Thinking Ahead in a Reckless Age
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Goodreads rating: 3.47
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The Optimist's Telescope offers practical solutions for making better long-term decisions for individuals, businesses, and society as a whole. Venkataraman draws from her experience as a former climate adviser to the Obama administration and shares stories from around the world to showcase how we can adopt practices that benefit us over time. She highlights the importance of thinking ahead and dispels the myth that human nature is impossibly reckless. This book is recommended for anyone looking to make positive changes for themselves and the world around them.
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Blake Mycoskie
|
Random
House
Start Something That Matters
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Goodreads rating: 4.02
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"Start Something That Matters" is a motivational book that encourages readers to pursue their passions and make a positive impact on the world. The author, Blake Mycoskie, shares his experience in founding TOMS Shoes, a company that donates a pair of shoes to a child in need for every pair sold. The book provides practical advice and inspiration for aspiring entrepreneurs and individuals looking to make a difference. Overall, this book is a great read for those wanting to make a meaningful impact in their community and beyond.
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Na
|
Simon
&
Schuster
Shoe Dog : A Memoir by the Creator of NIKE
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Goodreads rating: 4.47
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"Shoe Dog: A Memoir by the Creator of NIKE" is a fascinating tale of Phil Knight's journey and the creation of Nike. With honesty and humor, Knight takes you on a rollercoaster ride of his experiences from his early years of selling shoes from the back of his car to the global success of Nike. The book is not only inspiring, but also packed with valuable lessons on entrepreneurship and overcoming challenges."
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Peter Thiel, Blake Masters |
Crown
Currency
Zero to One : Notes on Startups, or How to Build the Future
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Goodreads rating: 4.16
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If you want to build a better future, you must believe in secrets.The great secret of our time is that there are still uncharted frontiers to explore and new inventions to create. In Zero to One, legendary entrepreneur and investor Peter Thiel shows how we can find singular ways to create those new things. Thiel begins with the contrarian premise that we live in an age of technological stagnation, even if we’re too distracted by shiny mobile devices to notice. Information technology has improved rapidly, but there is no reason why progress should be limited to computers or Silicon Valley. Progress can be achieved in any industry or area of business. It comes from the most important skill that every leader must master: learning to think for yourself.Doing what someone else already knows how to do takes the world from 1 to n, adding more of something familiar. But when you do something new, you go from 0 to 1. The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. Tomorrow’s champions will not win by competing ruthlessly in today’s marketplace. They will escape competition altogether, because their businesses will be unique. Zero to One presents at once an optimistic view of the future of progress in America and a new way of thinking about innovation: it starts by learning to ask the questions that lead you to find value in unexpected places.
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Daniel Coyle
|
Random
House
Uk
The Culture Code - The Secrets Of Highly Successful Groups
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Goodreads rating: 4.27
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The Culture Code reveals the secrets of some of the best teams in the world – from Pixar to Google to US Navy SEALs – explaining the three skills such groups have mastered in order to generate trust and a willingness to collaborate. Combining cutting-edge science, on-the-ground insight and practical ideas for action, it offers a roadmap for creating an environment where innovation flourishes, problems get solved, and expectations are exceeded.
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Ram Charan
|
Random
House
Business
What The CEO Wants You To Know - How Your Company Really Works
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Goodreads rating: 3.89
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This book is a classic in business literature and has been updated for modern times. With clear language and relatable examples, readers will gain a CEO's perspective on how to cut through the complexity of any business.
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Brad Stone
|
Simon
&
Schuster
Amazon Unbound
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Goodreads rating: 4.09
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Amazon Unbound could be a good read for business enthusiasts who want to understand one of the world's most powerful and feared companies' operations. The book covers Amazon's evolution and acquisitions over the last decade, including the turn in public sentiment that criticizes Amazon's monopolistic practices. The book provides a well-researched and unvarnished portrait of Amazon's founder, Jeff Bezos.
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Malcolm Gladwell
|
Time
Warner
Book
Group
The Tipping Point : How Little Things Can Make a Difference
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Goodreads rating: 4.0
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The tipping point is that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire. Just as a single sick person can start an epidemic of the flu, so too can a small but precisely targeted push cause a fashion trend, the popularity of a new product, or a drop in the crime rate. This widely acclaimed bestseller, in which Malcolm Gladwell explores and brilliantly illuminates the tipping point phenomenon, is already changing the way people throughout the world think about selling products and disseminating ideas.
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John Naisbitt, Eric Conger |
Harper
Business
Mind Set! : Reset Your Thinking and See the Future
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Goodreads rating: 3.52
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In his seminal works Megatrends and Megatrends 2000 , John Naisbitt proved himself one of the most far-sighted and accurate observers of our fast-changing world. Mind Set! goes beyond that— Mind Set! discloses the secret of forecasting. John Naisbitt gives away the keys to the kingdom, opening the door to the insights that let him understand today's world and see the opportunities of tomorrow. He selects his most effective tools, 11 Mindsets, and applies them by guiding the reader through the five forces that will dominate the next decades of the twenty-first century. Illustrated by stories about Galileo and Einstein to today's icons and rebels in business, science, and sports, Mind Set! opens your eyes to see beyond media headlines, political slogans, and personal opinions to select and judge what will form the pictures of the future.
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Tim Harford
|
Little,
Brown
Young
Readers
Adapt : Why Success Always Starts with Failure
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Goodreads rating: 3.88
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Author Q&A with Tim Harford [image]
So are you an economic missionary, or is this just something that you love to do?
It began as something that I love to do--and I think I am now starting to get a sense of it being a mission. People can use economics and they can use statistics and numbers to get at the truth and there is a real appetite for doing so. This is such a BBC thing to say--there’s almost a public service mission to be fulfilled in educating people about economics. When I wrote The Undercover Economist, it was all about my pure enthusiasm for the subject; the book is full of stuff I wanted to say and that is always the thing with the books: they are always such fun to write.
Do you think that people these days are generally more economically literate?
People are now aware of economics for various reasons. There are the problems with the economy--there is always more interest in economics when it is all going wrong.
Where is the border line in your new book between economics and sociology?
I don’t draw a border line, and particularly not with the new book. The Undercover Economist was basically all the cool economics I could think of and The Logic of Life was me investigating a particular part of economics. All of the references in The Logic of Life were academic economics papers that I had related--and hopefully made more fun. This new book, Adapt, is very different. I have started by asking what is wrong with the world, what needs fixing, how does it work--and if economics can tell us something about that (which it can) then I have used it. And if economics is not the tool that you need--if you need to turn to sociology or engineering or biology or psychology--I have, in fact, turned to all of them in this book. If that’s what you need, then that’s where I have gone. So I have written this book in a different way: I started with a problem and tried to figure out how to solve it.
What specific subjects do you tackle?
To be a bit more specific, the book is about how difficult problems get solved and I look at quick change; the banking crisis; poverty; innovation, as I think there is an innovation slow-down; and the war in Iraq. Also, I look at both problems in business and in everyday life. Those are the big problems that I look at--and my conclusion is that these sorts of problems only ever get solved by trial and error, so when they are being solved, they are being solved through experimentation, which is often a bottom-up process. When they are not being solved it is because we are not willing to experiment, or to use trial and error.
Do you think companies will change to be much more experimental, with more decisions placed in the hands of employees?
I don’t think that is necessarily a trend, and the reason is that the market itself is highly experimental, so if your company isn’t experimental it may just happen to have a really great, successful idea--and that’s fine; if it doesn’t, it will go bankrupt. But that said, it is very interesting to look at the range of companies who have got very into experimentation--they range from the key-cutting chain Timpson’s to Google; you can’t get more different than those two firms, but actually the language is very similar; the recruitment policies are similar; the way the employees get paid is similar.
The “strap line” of the book is that “Success always starts with failure.” You are a successful author… so what was the failure that set you up for success?
I was working on a book before The Undercover Economist… it was going to be a sort of Adrian Mole/Bridget Jones’ Diary-styled fictional comedy, in which the hero was this economist and through the hilarious things that happened to him, all these economic principles would be explained--which is a great idea--but the trouble is that I am not actually funny. Another example would be my first job as a management consultant… and I was a terrible management consultant. I crashed out after a few months. Much better that, than to stick with the job for two or three years-- a lot of people say you have got to do that to “show your commitment.” Taking the job was a mistake--why would I need to show my commitment to a mistake? Better to realise you made a mistake, stop and do something else, which I did.
That idea that “failure breeds success” is central to most entrepreneurs. Do you think we need more of it in the UK?
I think that the real problem is not failure rates in business; the problem is failure rates in politics. We need a much higher failure rate in politics. What actually happens is politicians--and this is true of all political parties--have got some project and they’ll say, “Right, we are going to do this thing,” and it is quite likely that idea is a bad idea--because most ideas fail; the world is complicated and while I don’t have the numbers for this, most ideas are, as it turns out, not good ideas. But they never collect the data, or whatever it is they need to measure, to find out where their idea is failing. So they have this bad idea, roll this bad idea out and the bad idea sticks, costs the country hundreds, millions, or billions of pounds, and then the bad idea is finally reversed by the next party on purely ideological grounds and you never find out whether it really worked or not. So we have this very, very low willingness to collect the data that would be necessary to demonstrate failure, which is the bit we actually need. To give a brief example: Ken Livingstone, as Mayor of London, came along and introduced these long, bendy buses. Boris Johnson came along and said, “If you elect me, I am going to get rid of those big bendy buses and replace them with double-decker buses.” He was elected and he did it, so… which one of them is right? I don’t know. I mean, isn’t that crazy? I know democracy is a wonderful thing and we voted for Ken Livingstone and we voted for Boris Johnson, but it would be nice to actually have the data on passenger injury rates, how quickly people can get on and off these buses, whether disabled people are using these buses… the sort of basic evidence you would want to collect.
Based on that, are you a supporter of David Cameron’s “Big Society”, which in a sense favours local experimentation over central government planning?
Well, I have some sympathy for the idea of local experimentation, but what worries me is that we have to have some mechanism that is going to tell you what is working and what is not--and there is no proposal for that. Cameron’s Tories seem to have the view that ‘if it is local then it will work.’ In my book, I have all kinds of interesting case studies of situations where localism really would have worked incredibly well, as in, say, the US Army in Iraq. But I have also got examples of where localism did not work well at all--such as a corruption-fighting drive in Indonesia.
Is the new book, Adapt, your movement away from economic rationalist to management guru? Are you going to cast your eye over bigger problems?
The two changes in Adapt are that I have tried to start with the problem, rather than saying, “I have got a hammer--I’m going to look for a nail.” I started with a nail and said, “Ok, look, I need to get this hammered in.” So I have started with the problem and then looked anywhere for solutions. And the second thing is that I have tried to do is write with more of a narrative. This is not a Malcolm Gladwell book, but I really admire the way that people like Gladwell get quite complex ideas across because they get you interested in the story; that is something that I have tried to do more of here. I am not too worried about it, because I know that I am never going to turn into Malcolm Gladwell--I am always going to be Tim Harford--but it doesn’t hurt to nudge in a certain direction.
On Amazon, we recommend new book ideas to people: “If you like Tim Harford you may like…”, but what does Tim Harford also like?
I read a lot of books, mostly non-fiction and in two categories: people who I think write a lot better than I do, and people who think about economics more deeply than I do. In the first category I am reading people like Michael Lewis, Kathryn Schulz (I loved her first book, Being Wrong), Malcolm Gladwell and Alain de Botton. In the second category, I read lots of technical economics books, but I enjoy Steven Landsburg, Edward Glaeser (who has a book out now which looks good), Bill Easterly… I don’t necessarily agree with all of these people! When I am not reading non-fiction, I am reading comic books or 1980s fantasy authors like Jack Vance.
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