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The 10 Minute MBA - Almost Everything You Need to Know to Manage Organizations, People, and Yourself

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Positive Externality You need to know three things about management and corporate finance: 80/20 Rule Opportunity Cost Compound Growth 80/20 Rule (Also called Pareto’s Law) This idea says that a relatively small percent of actions account for a relatively large percent of outcomes. Find and concentrate your efforts on the important influences on your business (and life). The percentages aren’t always 80/20. Some examples: 20% of your customers account for 80% of your sales. McDonald’s accidentally learned that 10% of its customers accounted for 60% of its daytime sales. And it was an identifiable group that they had never aimed its massive advertising at. 20% of your product line accounts for 80% of your sales and profits. Often, companies with a large product line with many variations find that 50% of their products account for over 90% of sales. An even smaller percent usually account for most of the profits. 20% of your SKUs account fo...

Introduction to the Stock Market Crash of 1929 and the Start of the Great Depression

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Famous Headline INTRODUCTION Before reading this essay, I strongly recommend you see the PBS video on YouTube. Type in Stock Market Crash 1929. Look for US – The Crash of 1929 (PBS), ALLHISTORIES – PLAYLIST.  Documentary  broken into 6 parts to show commercials. Great documentary with wonderful photos, videos, and scenes from movies of the 1920s and the crash. Shows what a crazy time this was.    I also recommend you read Frederick Lewis Allen,  Only Yesterday; An Informal History of the 1920’s . This a wonderful popular history on the 1920s and the crash. It shows how the economic, social, and psychological changes in the 1920s contributed to the speculative frenzy in the stock market. The author lived through it all. You can skip some of the chapters the first time through; for example, skip Chapters III, VI, IX, And X.   DEFINITIONS The Stock Market . In the 1920s, this meant the New York Stock Exchange. This is where stocks (shares of part ownershi...