The EVA Challenge: Implementing Value Added Change in an Organization

Book Description

The co-founder of EVA shows how to apply it in today's new economy

EVA-economic valued added-is a measure of the true financial performance of a company, and a strategy for creating corporate and shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the "shop floor." In The EVA Challenge, the authors outline how to implement EVA-from training employees to answering the most frequently encountered implementation problems faced by companies.

This detailed "how-to" guide represents the second phase in the "EVA Revolution", showing executives around the world how to customize and implement EVA at their companies. Here, EVA converts learn how to work some "EVA magic" through company-specific initiatives and case study examples. Coverage includes completely new materials on "real options", leveraged stock options, and other concepts critical to corporations in both new and old economy industry sectors.

Customer Reviews:

Highly Recommended!.......2002-04-08

Authors Joel Stern and John Shiely advocate a total revolution in the way companies are valued and measured. They make a convincing case for using EVA ("Economic Value Added") as the primary measure of corporate performance. The authors argue that the SEC's yardstick for corporate reporting, the "Generally Accepted Accounting Procedures" (GAAP), was designed to protect lenders by depicting a company's liquidation value. As such, GAAP provides an overly conservative and only marginally accurate picture of financial health. EVA principles - at least according to the consultants who advise companies on using them - evaluate intangible assets more realistically and correspond more closely to stock market performance. We from getAbstract recommend this book to executives who seek improved corporate financial and market performance, and to investors interested in understanding how value is created and maintained.

Aligning Shareholder and Manager Interests.......2002-03-02

One of the most difficult questions to answer is what a company's worth is. Two developments in American Capitalism have contributed to the question's complexity. First, shareholders have divorced themselves from the corporations operation, leaving the task to professional managers.

Second, generally accepted accounting principles do not align expenses with benefits, distorting economic reality. As a result, investors who want to compare the cash they can take out of a company with the cash they have invested are hampered.

The authors argue Economic Value Added (EVA) is a true measure of a company's economic performance, in addition to being a strategy for creating shareholder value. Properly implemented, they state, EVA frees the measurement of corporate performance from the vagaries of accounting principles and gives both shareholders and management a clear picture of the value the company creates.

EVA is the profit that remains after deducting the cost of the capital invested to generate that profit or EVA = Net Operating Profit After-Tax minus capital charge. Effectively implemented, the tool becomes the basis for an incentive plan that rewards managers for actions that increase shareholder returns and vice versa.

John S. Shiely, president of Briggs and Stratton and co-author of the book, notes this strategy provided the foundation of his company's turnaround. In 1989, the world's largest producer of air-cooled engines had an EVA of negative $62 million based on $1.3 billion in sales. By re-organizing and focusing its strategy while developing its EVA program, the company staged a dramatic turnaround. By 1999, it reported a record positive EVA of $50.9 million. Shareholders, who bought $100 worth of stock at the beginning of the program, saw it increase in value to $673 in 1999.

The authors claim EVA is ideal for knowledge-based companies making heavy infrastructure investments today for any anticipated return later. EVA treats cash outlays that represent investments as capital rather than expenses. The capital in these knowledge based industries consists of research, development, marketing, advertising and start-up costs. Accounts view these expenditures as expenses, but it is realistic to capitalize them and amortize them over their useful lives.

EVA from a Senior Management Perspective.......2001-10-23

EVA Challenge was OK. It is more geared towards senior managers who are thinking about EVA as a model for their companies. In that regard, this books does a fine job.

I was hoping the book would deal with more of the matamatics associated with defining EVA in relation to various projects and business decisions. This book contailed very little information in this regard.

What Is Your Organization's Net Worth?.......2001-04-14

Perhaps you have already read Ehrbar's EVA. He quite correctly points out that there can be many challenges to implementing a program based on EVA principles. He characterizes it as "a superior measure of corporate performance, one that is tied more directly to share than any other performance measure, by charging profit for the cost of all the capital a company employs, including equity."

More specifically:

"It is the framework for a complete financial management and incentive compensation system that can guide every decision a company makes...that can transform corporate culture, that can
improve the working lives of everyone in an organization by making them more successful, and that can help them produce greater wealth for shareholders, customers, and themselves."

Stern and Shiely (with Irwin Ross) focus on the specific challenges which will probably be encountered when initiates are taken to implement value-added change in an organization. They suggest all manner of strategies and tactics to achieve that objective, agreeing with O'Toole's key points in Leading Change when he analyzes what he calls "the ideology of comfort and the tyranny of custom."

For the authors of this book, there have been two major developments in American capitalism which explain why "the opportunity cost of capital" has been miscalculated: "(1) the split between ownership and control of publicly held corporations and (2) the widespread acceptance of accounting measurements [i.e. GAAP] to gauge corporate value, a purpose for which they were never intended." Having defined and then analyzed various problems in Chapter 1, the authors proceed into 12 more chapters whose titles suggest their focal points: The Solution, The Need for a Winning Strategy and Organization, The Road Map to Value Creation, The Changes wrought by EVA, Extending EVA to the Shop Floor [an absolute imperative], Getting the Message Out: Training and Communications, EVA and Acquisitions, EVA Incentives, How EVA Can Fail [and it does...the authors explain why], New Frontiers: real Options and Forward-Looking Eva, 25 Questions [which must be answered fully or forget about EVA], and finally, a Recipe for Success. The book then provides its own value-added benefit: an Epilogue written by Gregory V. Milano which discusses EVA and the "New Economy."

Briefly, I would like to comment on Chapter 13 which offers a "Recipe for Success." The authors introduce and explain six key factors. Having already acknowledged various forms of resistance and resentment which implementation of EVA principles may well encounter, the authors understand full well that these factors may offer the promise of success but by no means guarantee it. They are:

1. "The company must have a viable business strategy and appropriate organizational architecture before EVA can boost performance."

2. To achieve full potential of EVA, a company should install all of EVA's components -- a measurement system, a management system, and an incentive system."

3. An EVA incentive plan is essential, and it should reach as far down in the organization as possible."

4. "A comprehensive training program is equally essential. It should not be limited to top executives but should infiltrate all managerial levels and, ideally, reach down to the shop floor."

5. "The EVA program must have the full and fervent backing of the CEO, who should chair all the all-important steering committee that puts EVA in place."

6. "The CFO and/or the controller should be equally committed. Because they have to deal simultaneously with standard accounting practices, these specialists may have an even greater problem focusing on value creation than a CEO newly introduced to EVA."

Stern and Shiely (with Ross) offer a comprehensive, cohesive, and cost-effective program which, after appropriate modification, can be of substantial benefit to almost any organization, regardless of its size or nature. Milano's insights are especially important in 2001 as so many organizations are attempting (with mixed success) to reconcile the basic principles of the so-called "Old" and "New" economies. (I hope they or Ehrbar next write a book which explains how EVA can be of greatest benefit to privately-owned smaller companies.) Drucker was right: "Until a company returns a profit that is greater than its cost of capital, it operates at a loss." We have all manner of mechanisms by which to determine the exact net worth of an individual executive. Properly understood, EVA principles can do the same for an organization IF if those who lead that organization are guided and informed by the aforementioned "six key factors." If you share my high regard for this book as well as Ehrbar's, you are urged to check out Fitz-enz's The ROI of Human Capital.

THE big picture of EVA concept.......2001-04-11

Joel Stern masters the art of explaining EVA in a simple manner. Co-authored by John Shiely, sharing his on-the-job experience using EVA at Briggs & Stratton, the book looks at strategic considerations of why to use EVA and how it is better than other performance measures and financial management systems to enhance shareholder value. I especially like the "How EVA can Fail" and the "25 Questions" chapters because they go deep into issues sometimes overlooked when one thinks about Value Based Management implementation.

Average customer rating:

A paradigm shift from stereotypes of persuasion

USED TO BE Heartbreakingly Out of Print

"Winning 'Em Over" should be required B-School reading!

fantastic instructional tool for managers at all levels!

Excellent! A new era of management!

Winning 'em Over: A New Model for Management in the Age of Persuasion
Jay A. Conger
Manufacturer: Simon & Schuster
ProductGroup: Book
Binding: Hardcover

Communications | Skills | Business & Investing | Subjects | Books
Workplace | Organizational Behavior | Business & Investing | Subjects | Books
General | Business & Investing | Subjects | Books
Management | Management & Leadership | Business & Investing | Subjects | Books
Similar Items:

The Effective Executive: The Definitive Guide to Getting the Right Things Done (Harperbusiness Essentials)

Managing With Power: Politics and Influence in Organizations

Say it With Presentations, Revised & Expanded

Management: Tasks, Responsibilities, Practices

Influence: Science and Practice (4th Edition)

ASIN: 0684807726

Amazon.com

Winning 'Em Over: A New Model for Managing in the Age of Persuasion, by University of Southern California management professor Jay A. Conger, champions the cause of "teamwork" over "hierarchy" as the proper paradigm for effective leadership in our changing corporate environment. The key, he writes, is using constructive forms of persuasion rather than old-style methods of command to gain levels of commitment and motivation that otherwise might prove unattainable. Conger lays out four steps--building credibility, finding common ground, developing compelling positions, and connecting emotionally--that he contends will help managers more effectively direct their employees toward this goal. --Howard Rothman

Book Description

A historic shift is occurring in the nature of management. Until recently, bosses could simply use the power of their positions to direct and order their subordinates. However, in today's workplace, which is significantly different from the remarkably homogenous and traditional business environment of just two decades ago, the approach of command authority no longer works effectively.

Winning 'em Over chronicles a revolution. We are witnessing an ancient model of managing built around command and hierarchy give way to a new model built around persuasion and teamwork. Jay Conger demonstrates to managers on all levels how to thrive in the wake of this momentous transformation.

Today we work in an environment where people don't just ask "What should I do?" but "Why should I do it?" To successfully answer this "why" question is to persuade. Yet many businesspeople misunderstand and still more make little use of persuasion. The problem? Persuasion is widely perceived as a skill reserved for selling products and closing deals. But in reality, good managers are persuading all day long. As Conger explains with insight and conviction, today's most effective managers are influencing others through constructive forms of persuasion -- and their employees give them levels of commitment and motivation that the managers of the last generation could only dream of.

Conger illustrates how three important forces -- new generations of managers and executives, cross-functional teams, and unprecedented access to information that was once the privilege of the most senior levels of management -- are undermining the old Age of Command and ushering in the new Age of Persuasion. He exposes the most commonly held myths about the art of persuasion and shows how to influence others productively, without manipulation. Most important, he outlines the four crucial components of effective managing by persuasion: building one's credibility, finding common ground so that others have a stake in one's ideas, finding compelling positions and evidence, and emotionally connecting with coworkers so that solutions resonate with them on a personal level. In Winning 'em Over, Conger explains how to implement a management style that will succeed in what is becoming a fundamentally and radically different business environment, and he provides readers with all of the new tools they will need to become effective, constructive persuaders.

Customer Reviews:

A paradigm shift from stereotypes of persuasion.......2001-04-29

"One important aim of this book is to challenge your stereotypes of persuasion. We usually think of persuasion as something reserved for salespeople-certainly not for managers. What I am going to propose to you is that, quite to the contrary, persuasion skills have become absolutely essential to the job of managing-far more than we might imagine. Much of what a good manager does today is sell: sell their ideas to coworkers; sell their organizations on change; sell their bosses on new investments. But it's not traditional selling. A large part of what we do as effective managers is to find optimal solutions for problems through investigation, discussion, and debate. We then convince our organization to get behind them. It is in the convincing part that we face our greatest hurdless-getting buy-in. This is where the skills of constructive persuasion play a vital role. So leave behind your older notions of persuasion. It's time for a paradigm shift. Your effectiveness depends on it" (pp.14-15).

In this context, in Chapter 2, after listing wrong ideas about persuasion as following:

1. persuasion is simply mustering the best arguments for something;

2. persuasion almost always involves stating your position up front;

3. persuasion means being assertive-often very assertive; and

4. negotiating and deal making are at the heart of it.

Jay A. Conger writes that "These are some of the stereotypes people have about the act of convincing. There are several others. Together I call them the 'killer myths' of persuasion-'killer' because they can kill our ability to be effective and our motivation to become better persuaders."

Killer Myth 1- The most effective persuasion is the hard sell.

Killer Myth 2- Persuasion is a one-way process.

Killer Myth 3- Effective persuaders succeed on the first try.

Killer Myth 4- Good persuaders don't need to compromise.

Killer Myth 5- Great arguments are the secret to successful persuasion.

Killer Myth 6- Persuasion is pure manipulation.

As a result, he writes that "Now that we know what persuasion isn't, we may be wondering what constructive persuasion really is." Hence, he shows four distinct steps such as (i)building your credibility, (ii)finding the common ground, (iii)developing compelling positions and evidence, and (iv)connecting emotionally to becoming an effective persuader, and he discusses these steps/the four elements of effective persuasion throuhout the following four (3-6) chapters.

Highly recommended.

USED TO BE Heartbreakingly Out of Print.......2001-03-19

As an indication of how good this book is, I bought five copies when it came back in print. There are less than a dozen business books I have more than 2-3 copies of (Drucker is half of them.) It's that good.

As a leadership consultant who regularly has to assist Directors, Vice Presidents and above - many of them in technology-heavy companies - this is the book I used to recommend most often, and it breaks my heart it is out of print. It is good enough that I have contacted Mr. Conger directly. Here's what I've found: it speaks in language that most executives can understand, and with a litle bit of coaching this book provides a framework for them to see what they are doing and not doing when it comes to internal communications, relationships, and, yes, politics. I am no longer amazed at the lack of caolition-building and relationship development skills of executives, but I come across it constantly. As such, I often find that great ideas are NOT being implemented either do to a lack of understanding of, or blatant disregard for, the need to PERSUADE others of the viability and effectiveness of the recommended course of action.

If you're a bright executive who wonders why someone with less technical depth than you has gotten promoted in front of you, this book is a good place to start looking. Ask yourself whether you are as good interpersonally as you are technically.

"Winning 'Em Over" should be required B-School reading!.......1998-12-05

As a recent MBA graduate, I found "Winning 'Em Over" to be a perfect complement to my formal education. By drawing on the disciplines of rhetoric, communication studies, management, and even storytelling, Jay Conger weaves a provocative and compelling argument for a fundamental and generational shift in the nature of management - from an Age of Command to an Age of Persuasion. Conger proves with contemporary examples what Aristotle knew thousands of years ago - that the author/audience (or persuader/persuadee) relationship is a covenant based on trust and mutually beneficial outcomes, that the audience must be an active participant in the process of persuasion, and that persuasion is a subtle art form. The beauty of "Winning 'Em Over" is that Conger explains the essence of this art in the context of the modern-day manager. In doing so, he provides the tools by which we can begin to understand the route to effective persusasion and, by extension, exemplary leadership. To become effective managers and leaders, we NEED to understand and adopt the principles examined in this book.

fantastic instructional tool for managers at all levels!.......1998-08-24

Jay Conger's new book is a must read for managers on all rungs of the corporate ladder. Most organizational behavior books shower readers with platitudes, but this book goes beyond. Conger gives current examples of persuasive leaders (both positive and negative) and then shows the reader step-by-step how to begin building the skills necessary to powerfully pursuade. The exercises and practical tips make the book a highly effective tool. Conger's techniques have helped me grapple with difficult negociations at work. I find that I am much more analytical and have a better appreciation of the inner dealings that go on within my work teams. At points the book makes pursuasion seem a bit too easy (at least for me), but it is a key book for all of us read and learn from. Honestly, I use the skills that I picked up reading this book outside the office just as much as I do inside. We all need to learn to pursuade and this text lays a solid foundation for us all to do so.

Excellent! A new era of management!.......1998-08-24

Conger's amazing concepts and ideas are presented with such clarity that I now think of this book during every project meeting that I attend at work. This should be a standard text for all management programs. An excellent book that is invaluable in a corporate environment!

Book Description

Robbery, rape, kidnapping, murder. What awaits you on your next business trip? Criminals are bolder, more violent, and targeting more business travelers than ever. Unless you take measures to safeguard yourself from criminal violence while on the road, you are a sitting duck!

Organized as a quick read, Travel Can Be Murder will help you understand why business travelers are preferred criminal targets, what criminals look for when selecting their victims, and what you must do to prevent an assault. As a result, you will make smarter and safer choices as you move about.

Customer Reviews:

This will possibly save your life!.......2002-01-17

This book is chockfull of easy to follow tips that might possibly save your life. Whether you are travelling for business or pleasure, the valuable information gained from reading this book will make your trip a lot more enjoyable in today's climate.
What's more, the contents are put forward in an easy to read format that even the novice will grasp.
A must for the business traveller and those that serve the business traveller.

Reveiw from Security Management, September, 1998.......1998-10-02

Kidnappings in India and the Philippines. Violent robberies in St. Petersburg, Russia, and Washington, D.C. Hotel fires in Las Vegas and Havana. How can a business traveler keep safe while on the road? This book tries to answer that question, and for the most part, it does so in fine fashion. International terrorism, plane hijackings, hostage situations, and street crime have made the security executive an important resource for the peripatetic business person. This pocket-size resource provides an easy, convenient way of informing the corporate road warrior of the dangers that exist, how to avoid them, and how to escape them. Its small size also makes the book easy for an executive to pack with belongings so that he or she can have an on-site reference. The simple chapter layout and titling make it easy to pick out topics of immediate interest, such as dealing with hotel fires, using public facilities, or preparing for a trip on short notice. The book is written in such an easy prose style that it makes good reading for a short plane flight--though a lot of information is squeezed into the book's 185 pages. ...this is a valuable little book

From The Tactical Traveler on BizTravel.com, June 8, 1998.......1998-10-02

Maybe it is the revelation that two historic enemies, Hindu India and Muslim Pakistan, now have state-of-the-art weapons of destruction, but I'm feeling a bit paranoid about travel again. If you're similarly spooked, check out the second edition of "Travel Can Be Murder," a practical, easy-to-follow guide to on-the-road safety. Written by psychologist Terry Riley, the paperback offers more than 600 useful and thought-provoking tips. You've read most of the information before, but consider this a refresher course on paranoia, the traveler's best friend.

Travel Can Be Murder: The Business Traveler's Guide to Personal Safety, Third Edition.(Review): An article from: Security Management

Average customer rating:

Travel Can Be Murder: The Business Traveler's Guide to Personal Safety, Third Edition.(Review): An article from: Security Management
Rose Shyman
Manufacturer: American Society for Industrial Security
ProductGroup: Book
Binding: Digital

General | Travel | Subjects | Books
ASIN: B0009FENIQ
Release Date: 2005-06-01

Book Description

This digital document is an article from Security Management, published by American Society for Industrial Security on September 1, 2001. The length of the article is 1532 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Travel Can Be Murder: The Business Traveler's Guide to Personal Safety, Third Edition.(Review)
Author: Rose Shyman
Publication: Security Management (Refereed)
Date: September 1, 2001
Publisher: American Society for Industrial Security
Volume: 45 Issue: 9 Page: 232

Article Type: Book Review

Distributed by Thomson Gale

Amazon.com

As much as they are joked about, griped over, and sometimes dreaded, business meetings are essential. And while technology has by no means eliminated the need for meetings it has given participants many ways to ease the process--with more innovations coming. Creighton and Adams guide their readers through the present and future benefits and challenges of electronic, or electronically aided, meetings. They also examine what's required to make corporate cybermeetings work. The authors examine possibilities such as gathering people from different time zones and with varied schedules to meet simultaneously or establishing electronically enhanced meeting centers, where teammates will physically gather and use new technology designed to make the meeting process more efficient. Creighton and Adams avoid talking about specific hardware and software since anything on the market at publication time will soon be out of date. Instead they focus on the issues and the choices managers will have to make: how to select the best technological approach for a particular corporate culture, what technologies are most likely to enhance true cooperation and collaboration, how innovative technology can best be introduced into large organizations, and more. While nobody expects business meetings to be exciting, Creighton and Adams prove the future of business meetings will be far from dull.

Book Description

Computers are radically changing the way we meet, the way we collaborate, they way we communicate with each other. This breakthrough book takes a look at how cutting-edge computer technologies are transforming our concept of what "meeting" is.

In addition, CyberMeeting helps businesspeople avoid the millions of dollars that can be wasted when new "collaborative technology" is introduced without careful consideration of the culture of a company. It's a guide to which technologies are available, which will soon be available, and all the people, corporate culture, and communication issues to consider. The book reveals technologies such as:

** software that schedules the meetings (for 2 people...or 20)
** personal computers with video cameras (for holding meetings with anyone, right from the desktop)
** groupware that simplifies simultaneous work on a project ** meeting centers with full electronic support, including "working walls" that record information from many sources: literal writing on the wall, electronic slates, remote computers, even voice command
** techniques for broadcasting live reports to stakeholders on a meeting's progress and decisions made
** facilities that encourage and take full advantage of those informal meetings (where the best ideas often happen).

For managers, meeting planners, or information technologists CyberMeeting shows how to plan for the near future and manage the transition to cyber collaboration.

Customer Reviews:

Virtual Meeting made Real.......2002-10-12

This book pre-dates web conferencing (sharing data over a browser with a teleconference) but their principles and insights are first rate, terse and straight to the point. The lesson of planning different strategies for different types of meetings is very helpful and practical. They give tips and strategies for specific types of virtual encounters from brainstorming sessions, to working team meetings, remote presentations and formal board meetings. They also offer a key insight that the use of video conferencing is not a technical solution that reduces travel cost but strategic managment issue that goes to core of communications within an organization.

As web conferencing and Video over IP become realities, this book establishes the principles for holding any type of virtual meeting. )

This book is a must read for anyone looking to use cybermeetings to improve access to justice and to resolve eCommerce disputes amicably. Anyone in the burgeoning field of web conferencing should learn the constructive lessons of video conferencing from this book.

Jim Keane - JKeane.Com - ABA-LPM eLawyering Task Force

Great reading on meetings and technology for them!.......1997-12-26

Helps you look at your meetings and real time collaboration processes, and see how/if technology can support them. For once it doesn't look at it from a technology standpoint. The authors lets you consider what you want with your meetings. Then they take a look at how tech can support this.

CyberMeeting: How to Link People and Technology in Your Organization.: An article from: The Futurist

Average customer rating:

CyberMeeting: How to Link People and Technology in Your Organization.: An article from: The Futurist
Robert M. Schley
Manufacturer: World Future Society
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Book Description

This digital document is an article from The Futurist, published by World Future Society on May 1, 1998. The length of the article is 667 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: CyberMeeting: How to Link People and Technology in Your Organization.
Author: Robert M. Schley
Publication: The Futurist (Magazine/Journal)
Date: May 1, 1998
Publisher: World Future Society
Volume: v32 Issue: n4 Page: p44(1)

Article Type: Book Review

Distributed by Thomson Gale

Book Description

Asset management and retail brokerage firms are in the business of using money to make more of it. Turn to this WetFeet Insider Guide to learn about the industry, where it'ss been and where it'ss headed; typical jobs and salary ranges; the recruiting process, including requirements and tips for landing a job; and the pros and cons of working in the industry.

Careers in Asset Management & Retail Brokerage: The WetFeet Insider Guide (2005 Edition) (Wetfeet Insider Guide)

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Careers in Asset Management & Retail Brokerage: The WetFeet Insider Guide (2005 Edition) (Wetfeet Insider Guide)
WetFeet
Manufacturer: WetFeet, Inc.
ProductGroup: Book
Binding: Paperback

General | Job Hunting & Careers | Business & Investing | Subjects | Books

Guides | Job Hunting & Careers | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books
Similar Items:

ASIN: 1582074364

Book Description

The WetFeet Insider Guide to Careers in Asset Management and Retail Brokerage

Average customer rating:

read this if you want into asset mngt
Great Investment
Time for a Career Switch into Retail Brokerage

The WetFeet Insider Guide to Careers in Asset Management and Retail Brokerage
Wetfeet
Manufacturer: Wetfeet
ProductGroup: Book
Binding: Paperback

General | Job Hunting & Careers | Business & Investing | Subjects | Books

Guides | Job Hunting & Careers | Business & Investing | Subjects | Books

Job Hunting | Job Hunting & Careers | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

General | Industries & Professions | Business & Investing | Subjects | Books
ASIN: 1582073260

Book Description

If money makes the world go 'round, the Earth would grind to a screeching halt without the asset management industry. Asset management is the business of making money with money—or at least trying to. Asset managers manage large pools of investments, which conform to specific sets of guidelines in order to achieve certain financial objectives. The investments could be held in a mutual fund or hedge fund, or might be in a portfolio managed by an investment counseling firm, a bank trust department, or an insurance company. Anyone considering a career in asset management should be keenly aware that markets not only go up, but also go down—sometimes way down.

The "retail" brokerage industry, which deals with individuals (as opposed to "institutional" which deals with companies and other large clients), is weaning itself from its traditional reliance on trade-based commissions by offering more and more fee-based services, which provide a more regular revenue stream in a volatile market. The fee structure also helps insulate firms from appearances of conflicts of interest as the fee is usually a percentage of assets under management, which means that it's in everyone's interest to see those assets grow.

Find out more about the wonderful world of asset management and retail brokerage by reading this guide!

Learn about:

Who the major players are and how they're doing
What the typical jobs entail and what you need to know to snag one
What the lifestyle is like, and what kind of money is involved
What the pros and cons of getting into this industry are
What questions to ask during your interviews
More!

Download Description

If money makes the world go 'round, the Earth would grind to a screeching halt without the asset management industry. Asset management is the business of making money with money-or at least trying to. Asset managers manage large pools of investments, which conform to specific sets of guidelines in order to achieve certain financial objectives. The investments could be held in a mutual fund or hedge fund, or might be in a portfolio managed by an investment counseling firm, a bank trust department, or an insurance company. Anyone considering a career in asset management should be keenly aware that markets not only go up, but also go down-sometimes way down.

The "retail" brokerage industry, which deals with individuals (as opposed to "institutional" which deals with companies and other large clients), is weaning itself from its traditional reliance on trade-based commissions by offering more and more fee-based services, which provide a more regular revenue stream in a volatile market. The fee structure also helps insulate firms from appearances of conflicts of interest as the fee is usually a percentage of assets under management, which means that it's in everyone's interest to see those assets grow.

Find out more about the wonderful world of asset management and retail brokerage by reading this guide!

Learn about:

Who the major players are and how they're doing
What the typical jobs entail and what you need to know to snag one
What the lifestyle is like, and what kind of money is involved
What the pros and cons of getting into this industry are
What questions to ask during your interviews
More!

Customer Reviews:

read this if you want into asset mngt.......2003-04-10

i read this book as part of my preparation for getting ready for interviews with top firms involved in asset management. it was a great addition to the other research i did, and in fact, gave me some good pointers towards other resources i ought to look at in order to land the job that i wanted. and voila! now i'm working at a great company, doing what i wanted to do. of course, my background is in financial services, so the move wasn't that traumatic, but still, in a market where you've got to be an exact match to get a job--as well as have an "in"--stuff like this guide are helpful in bringing forward the things you've done that mirror what's prized in this particular role.

Great Investment.......2003-02-20

This is a great start for anyone interested in working in the asset managment and retail brokerage industry. Not only does it give a general picture of the main firms in the industry, it also describes in detail what kind of jobs and lifestyles are available. I found it indispensible in starting my job search, as this is a new career path I am thinking about. The Recommended Reading and Additional Resources at the back helped me take it to the next step. This guide is definitely worth it for anyone interested in pursuing these career paths.

Time for a Career Switch into Retail Brokerage.......2003-02-20

It's good to know there are retail brokerage training programs for someone like me--a professional in her early 30s. I appreciate all of the tips you've provided in this guide. It makes the task of trying to break into this industry much less daunting now that you've laid it all out for me. This is definitely a guide I'd recommend as a good starting point for anyone thinking about making a career switch into this industry or for the undergrad or MBA thinking about what she wants to do after graduating.

Average customer rating:
A Cpa's Guide of Estate Planning Techniques for the Closely-Held Business Owner
David Thomas
Manufacturer: Amer Inst of Certified Public
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
General | Personal Finance | Business & Investing | Subjects | Books
ASIN: 0870512943

Average customer rating:

I bought this for both sets of parents!

Ernst & Young's Retirement Planning Guide , Special Tax Edition
Ernst & Young LLP , Ernst , and Young LLP
Manufacturer: Wiley
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books
General | Business & Investing | Subjects | Books
General | Personal Finance | Business & Investing | Subjects | Books
Retirement Planning | Personal Finance | Business & Investing | Subjects | Books
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Book Description

Use the New Tax Law to Retire on Your Terms

Are you planning your retirement with the Economic Growth and Tax Relief Reconciliation Act of 2001 in mind? If not, you could be missing out on important changes that could help you build a larger nest egg or even retire early. Drawing on the experience of the nation's premier tax and financial planners, Ernst & Young's Retirement Planning Guide, Special Tax Edition shows you how to use the new tax law to plan for a secure future-whether you're just getting started or on the verge of retirement.

This practical guide highlights key financial and personal issues you need to consider during your pre-retirement and retirement years, including essential information on how the new tax law will affect your retirement.

From guidance on portfolio diversification and Social Security to the new tax rules that will impact IRAs and 401(k) plans, Ernst & Young's Retirement Planning Guide, Special Tax Edition provides the insight and assistance you need to take advantage of the new tax law and plan for a financially secure future.

The effect the new tax law will have on your retirement plan-from pension withdrawals to IRA limits and new tax-deferred plans
The latest financial instruments for retirement savings
Worksheets, tips, and action items, as well as additional resources, including Web sites
Strategies to overcome adverse financial events
Wealth-building techniques to help you retire early
Practical ideas and easy-to-understand charts and tables

Customer Reviews:

I bought this for both sets of parents!.......2001-12-20

There are a lot of retirement books out there, so I went with the one with a recognizable name and I'm glad I did. My parents haven't thought enough about retirement and I wanted to spur them to action. They were pleased to find out that there were many things they could do now, even at this late date, to help them, and they even starting giving me tips on ways I could start planning. So then I gave this book to my husband's parents who are already retired, and they ended up buying it for friends too. There are tons of tips, easy things you can do, worksheets, charts, action lists, tips--even a section on how to overcome adverse events like losing your job and divorce. It is worth the read. You'll learn a lot and be happy you did.

Ernst & Young's Retirement Planning Guide: Take Care of Your Finances Now...And They'll Take Care of You Later

Average customer rating:

The best calculator I've found for financial planning...
Excellent, comprehensive, easy to read, useful tips
Excellent pre and post retirement planning information.

Ernst & Young's Retirement Planning Guide: Take Care of Your Finances Now...And They'll Take Care of You Later
Ernst & Young LLP , Robert J. Garner , William J. Arnone , Glenn M. Pape , Norman A. Barker , Martin Nissenbaum , Kenneth R. Rouse , and David C. Voss
Manufacturer: Wiley
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

Public Finance | Economics | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

Retirement Planning | Personal Finance | Business & Investing | Subjects | Books

Retirement Planning | Aging Parents | Parenting & Families | Subjects | Books
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Braun IRT 4020 ThermoScan Ear Thermometer

ASIN: 047119557X

Book Description

The most trusted name in financial planning helps you secure a sound retirement

Now is the time to plan for the retirement of your dreams. But where do you start? There's no better resource than Ernst & Young's Retirement Planning Guide. Drawing on the experience of the nation's premier tax and financial planners, it gives you a comprehensive set of tools to help you build a healthy nest egg—whether your retirement is just around the corner or years away.

This hands-on guide highlights the key financial issues you need to consider during your preretirement and retirement years, including essential information on the changing rules of the retirement game. From guidance on portfolio diversification and Social Security to 401(k) plans, IRAs, and Keoghs, Ernst & Young's Retirement Planning Guide provides the insight and assistance you need to enjoy a financially secure future.

The latest financial instruments for retirement savings

Wealth-building techniques to help you retire early
Unique retirement issues facing executives, the self-employed, women and nontraditional families
Worksheets, quizzes, and action items, as well as additional resources and Web sites
Strategies to overcome adverse financial events like corporate downsizing and personal disability
Practical tips and easy-to-understand charts and tables.

Visit the Ernst & Young Tax and Financial Planning Corner on the World Wide Web! http://www.wiley.com/ey.html.

Customer Reviews:

The best calculator I've found for financial planning..........2000-04-08

Although this book deals with many aspects of retirement and retirement planning, what distinguishes it from the dozens of similar books I have read is a truly outstanding calculator for determining how much money will be available then and how much needs to be saved or invested to eliminate any shortfall. It includes pensions, social security, and savings and investments. It factors in life expectancy, income sources that will automatically increase with inflation and those that won't, savings and investment growth rates, withdrawl rates that must increase with inflation(which--unbelievably--some calculators don't consider). It allows for early retirement (that is, it doesn't factor in social security until it's available). Similarly, it allows for staggered commencement of retirement income sources (for example, a pension that starts at age 65 while you may start social security at age 62). I've not found another calculator that does ALL of these things! I couldn't recommend it more highly.

Excellent, comprehensive, easy to read, useful tips.......1999-08-29

This guide really lays out, step by step, how to think and act to plan your retirement. I found this a surprisingly quick read, comprehensive, easy to understand and specific -- from spending, lifestyle, insurance, investing issues. The book makes a great gift for friends or parents because too many of us are not paying attention to the easy "Action Items" that each chapter ends with. Highly recommended!

Excellent pre and post retirement planning information........1997-10-24

This guide provides excellent pre-retirement planning suggestions. Has traps, obstacles and helpers outlined for quick review and advice. Has a number of "tools" in the form of worksheets to assist in planning for both before and after retirement events. Presents a number of post-retirement ideas with several suggestions of how to manage and/or increase your income in retirement. Authors are somewhat short on information for the mid 50's retiree concerning how to access 401k and IRA funds without penalty between 55 and 59 1/2. No info on what forms are needed and where they are available, or what needs to be filed and where. Has one slight reference in the appendix on how to accomplish withdrawals without penalty. Having read a number of retirement planning books available on the bookshelf, I found this volume excels in providing useful information not found in similar guide books.

The Ernst & Young Tax, Financial & Retirement Planning Guide 1998 Combination 18 Copy Display Set (Paper Only)

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The Ernst & Young Tax, Financial & Retirement Planning Guide 1998 Combination 18 Copy Display Set (Paper Only)
Ernst & Young
Manufacturer: John Wiley and Sons Ltd
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books
ASIN: 0471239607

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