Islands of profit in a sea of red ink : why 40% of your business is unprofitable, and how to fix it

 by Jonathan L. S. Byrnes. The claim made by the author, a Senior Lecturer at MIT, wasn't gleaned from a study; rather, it comes from his own experience as a consultant, and the examples and suggestions in his first book are aimed squarely at managers. Byrnes finds unprofitability almost everywhere-in accounts, order lines, vendors, sales channels, and products-and blames corporations for focusing insufficient resources on the bottom line. Drawing from a monthly column he wrote for a Harvard Business School e-newsletter in the early 2000s, Byrnes offers managers tips on reestablishing a healthy profit, such as creating a profitability database, modeling a customer, creating an action plan, and institutionalizing profit mapping. Thirty-six chapters arranged in four sections (thinking, selling, operating, leading), and dozens of boxed "things to think about" and "lessons for managers" cover profit from the supply chain to the customer. While many of the best-known companies Byrnes references have a whiff of old news about them (Walmart, Dell, GE), case studies of lesser-knowns like Nalco Chemical and SKF Bearings may offer the dedicated reader more to take away. Publishers Weekly (Check Catalog)

The entrepreneur's guide to raising capital

 by David Nour. Roughly six million entrepreneurs begin a new business every year. Less than 2 percent of those new ventures attract investors, and those 2 percent are this book's target market. Author Nour has witnessed numerous investment deals, and his guide reflects both his observations and those of investor colleagues. The book seeks to help entrepreneurs look at their business through the eyes of an investor; failing to do so not only costs money, but worse, it costs time and attention. Investor quotes--some insightful, some not--populate every chapter. Where Steven Rogers' Entrepreneurial Finance: Finance and Business Strategies for the Serious Entrepreneur (2nd ed., CH, Jul'09, 46-6298) dedicates five chapters to valuation, Nour spends less than one chapter on the topic. Nour instead stresses financial intermediaries, professionals dedicated to helping firms attract capital. He also devotes a chapter to advice from entrepreneurs, advice they wish they had been given when they were seeking capital. This book's real strength is an appendix full of helpful resources, useful not only to the 2 percent of entrepreneurs attracting capital but to many other entrepreneurs as well. --Choice (Check Catalog)

Finance and accounting for nonfinancial managers : all the basics you need to know

 by William G. Droms and Jay O. Wright. Droms and Wright (both Georgetown Univ.) have updated their well-known book to include recent changes in accounting requirements, tax laws, financial management, corporate governance, mergers and acquisitions, and international finance. The book's 19 brief chapters are organized into seven sections: "Introduction," "Financial Accounting Fundamentals," "Financial Analysis and Control," "Working Capital Decisions," "Long-Term Investment Decisions," "Long-Term Financing Decisions," and "Special Topics in Finance." With a plethora of case studies and useful, step-by-step illustrations, the chapters provide readable, nontechnical insight into often-arcane accounting and financial principles and practices. Although this book is not a substitute for the in-depth coverage of a traditional textbook, it is an excellent practical guide and reference for anyone wanting a fundamental understanding of contemporary accounting and finance principles and practices. --Choice (Check Catalog)

Balancing the banks : global lessons from the financial crisis

 by Steven Schussler. This compact (only 130 pages) but powerful book by three internationally recognized European economists is well worth reading (Dewatripont and Tirole also authored the fundamental The Prudential Regulation of Banks, 1994). The authors offer a thoughtful review of the current global financial crisis and a number of considered recommendations for ameliorating the next and inevitable one. Tirole's chapter 2, "Lessons from the Crisis," which encompasses almost half the book, is especially informative. The last chapter considers ways to deal with distressed banks. Readers will benefit most if they are familiar with modern financial institutions and instruments. Summing Up: Highly recommended. --Choice (Check Catalog)