101 Things I Learned® in Business School (Second Edition)

Finance: the management of money and monetary assets.

“Not to decide is to decide.”

Their large, consistent purchases can grant predictability, profitability, and economies of scale, but losing them can be devastating. A customer whose regular purchases constitute a disproportion of a business’s sales, and who is aware of his or her consequent power, may demand that the business lower its prices to an unreasonable level. An especi

At the highest executive levels, officers and board members may be concerned with the philosophical direction of the company, the organization’s mission, and the meanings of the company’s brand in the market.

Borrowing money costs money, but the alternative is worse: Undercapitalization is one of the most common causes of business failure.

Chapter 11 bankruptcy provides for the financial reorganization and continuation of a company that has insufficient cash to meet current debt obligations, but healthy assets, markets, or other indicators of profitability.

The Yerkes-Dodson Law says that performance increases with stress, but only up to a point. When stress is too high, performance decreases.

observer effect, by which individuals under study modify their behavior because of their awareness of the study.

“Your most unhappy customers are your greatest source of learning.”