THE REAL-LIFE MBA

A solid framework on how business works and how to be part of the game.

Drawing on decades of experience running a business, the husband-and-wife Welch team (Winning, 2005, etc.) has compiled their advice into a no-nonsense guide for anyone who wishes to learn more about the multifaceted aspects of building and maintaining a flourishing work environment. “This book is actually for anyone and everyone who is looking for a down-to-earth, no-BS primer on the big ideas and the best learn-it-today, apply-it-tomorrow techniques of an MBA,” they write. Starting with a generous explanation of what the business “game” is all about, the Welches examine the ways companies, both large and small, must organize in order to operate fruitfully in an increasingly global, highly competitive marketplace. By creating a mission statement, with employees embracing “behaviors” that promote the company mission, by communicating on a regular basis with employees and providing regular feedback on an employee’s performance, by sweeping away obstacles that hinder individual productivity and by making work fun, the Welches promote the idea of a flexible, forward-thinking company. The authors also explain the appropriate way to handle a crisis, which can spread like wildfire thanks to the speed of the Internet; how to build strong leadership based on truth and trust; the methods for finding the right employee for the right position, even if it means firing everyone and starting over from scratch; and how to use unusual resources such as IT geniuses, freelancers and contract workers to fill positions. They also show how to squelch those who drain the company of resources, time and energy. The authors’ positive attitudes and enthusiasm to share their expertise dominate the text, and these are coupled with numerous real-life examples of business practices that worked and those that didn’t.

A practical and multilayered guide to running a company effectively and profitably.