A comprehensive, practical introduction to one of the most important new trends in manufacturing, globally The delivery of a service component as an added value when providing products, servitization is all the rage in the manufacturing sector around the world. Yet, despite the clear competitive advantage of servitization, most manufacturers remain reluctant to venture into, what for them, is a strange new world. Written by a team of internationally respected servitization experts and innovators, this book provides you with a detailed road map for successfully navigating the servitization terrain. Unlike most authors on the subject who merely sing the praises of servitization, Baines and Lightfoot provide you with a framework for accessing the feasibility of adopting a services-led competitive strategy in your company, along with strategies for designing and implementing the kinds of service offerings customers increasingly are coming to expect. Grounded in real-world practice and supported by a wealth of up-to-the minute research, this book helps ease the way for manufacturers considering adopting a servitization model Shows how to exploit your company's manufacturing competencies to build a strong servitization element without becoming «just another services company» Provides numerous illustrations and examples of services-led competitive strategies, with an emphasis on the advanced services most widely associated with servitization worldwide Packed with fascinating and instructive case studies from leading manufacturing firms across industry sectors, including Caterpillar, Rolls-Royce, Alstom, MAN, Xerox and others
A comprehensive look at the crisis of unfunded pension liabilities and what must be done to avoid the same problem in the future As the generational bubble of the Baby Boomers begins to retire, it is increasingly evident that governments, corporations, and individuals have failed to adequately prepare for the obligations and needs of this giant cohort. Retirees are outliving actuarial life expectancies, pension liabilities are skyrocketing, pension plans are underfunded, and medical costs rise, the United States alone can expect unfunded liabilities to exceed $4 trillion. Even while the American economy shows signs of sustained recovery, states and local governments will still experience sharp increases in pension fund payments through the next year or longer. Global Pension Crisis looks at this situation and offers practical advice for retirement plan managers and financial advisors, while also explaining how to strengthen pensions and prevent similar crises in the future. Offers a clear and comprehensive explanation of the current pension crisis for retirement fund managers, financial advisors, and economists Includes prescriptive guidance on how to strengthen the pension fund system and prevent another similar crisis Written by venture capitalist, entrepreneur, and former senior Wall Street executive Rich Marin
An outline of the core principles and strategies required to restore the credibility of the global finance industry Since 2008, the global financial industry has lurched from crisis to crisis, calamity to calamity, resulting in an epic loss of public trust in banking and financial institutions. Rebuilding Trust in Banks argues that this series of disasters have usually been the result failures of leadership and governance, combined with unenforced systems of checks and balances. Often, leaders lose their way, believing their own hype and buying into their own propaganda. The more successful these leaders are initially the greater their self-confidence grows along with the certainty that they’re right. The result is a dangerous hubris with no countervailing power to stop or change reckless, unethical, or self-interested strategies. This book offers a solution, with useful benchmarks for corporate governance and a global perspective. Features effective best practices for ensuring good corporate governance and responsible leadership in banking and finance Written by a renowned expert in corporate governance with more than 40 years of experience, particularly in Asia Intended for corporate leaders and board members in financial companies, as well as regulators, advisors, and students If banks and other financial institutions truly want to rebuild the trust they once enjoyed, this practical and prescriptive guide offers effective best practices that can—and should—be widely implemented throughout the industry.
Introduces a powerful new approach to financial risk modeling with proven strategies for its real-world applications The 2008 credit crisis did much to debunk the much touted powers of Value at Risk (VaR) as a risk metric. Unlike most authors on VaR who focus on what it can do, in this book the author looks at what it cannot. In clear, accessible prose, finance practitioners, Max Wong, describes the VaR measure and what it was meant to do, then explores its various failures in the real world of crisis risk management. More importantly, he lays out a revolutionary new method of measuring risks, Bubble Value at Risk, that is countercyclical and offers a well-tested buffer against market crashes. Describes Bubble VaR, a more macro-prudential risk measure proven to avoid the limitations of VaR and by providing a more accurate risk exposure estimation over market cycles Makes a strong case that analysts and risk managers need to unlearn our existing «science» of risk measurement and discover more robust approaches to calculating risk capital Illustrates every key concept or formula with an abundance of practical, numerical examples, most of them provided in interactive Excel spreadsheets Features numerous real-world applications, throughout, based on the author’s firsthand experience as a veteran financial risk analyst
A leading Australian trader shows you how to succeed on the sharemarket with proven charting techniques Now completely revised with the latest trading information, this revised edition of bestselling author Louise Bedford's Charting Secrets is the perfect guide for beginners and experienced traders and chartists alike. Unlike other books on trading, you'll find no get-rich-quick schemes here. Bedford believes that successful trading is a matter of study and hard work, just like any other job. With this in mind, Charting Secrets serves as a workbook that will have you practising what you read and mastering charting techniques as you go. The book begins with explanations of charting patterns and methods and includes sample charts for you to practise on, as well as step-by-step solutions that allow you to compare your results to hers. Features practical charting advice and sample charts that let readers learn techniques as they read Covers charting basics, as well as candlestick charting and system development, macro reversal and continuation patterns, trading psychology, and much more Written by a bestselling author known as one of Australia's most compelling speakers on trading Whether you're new to the trading game or an experienced trader looking to polish your charting techniques, Charting Secrets will show you how to turn potential into profit.
A smart and witty take on strategy . . . an essential business topic Every day, millions of professionals around the world discuss strategy, and they assume that everyone else in the room defines «strategy» the same way. But they don't. Howell J. Malham Jr. has created a simply designed and illustrated book that goes straight to the heart of the issue. Through the largely facetious dialog of two line drawn colorful characters, this clever, irreverent book seeks to get everyone in the room on the same page using the same definitions for the same words. This is a crucial first step to any business proposition, yet it is often the most overlooked. An open and visual book that defines the most over-used (and least understood) business term: strategy Author is the co-founder of Insight Labs Produced in a wry style, this book offers a witty, inventive take on a common business problem At a time when business in general is groping in the dark for new solutions to persistent problems, this book is a breath of fresh air, reminding readers that they have to build a foundation before they can scale the walls.
The derivative practitioner’s expert guide to IFRS 9 application Accounting for Derivatives explains the likely accounting implications of a proposed transaction on derivatives strategy, in alignment with the IFRS 9 standards. Written by a Big Four advisor, this book shares the author’s insights from working with companies to minimise the earnings volatility impact of hedging with derivatives. This second edition includes new chapters on hedging inflation risk and stock options, with new cases on special hedging situations including hedging components of commodity risk. This new edition also covers the accounting treatment of special derivatives situations, such as raising financing through commodity-linked loans, derivatives on own shares and convertible bonds. Cases are used extensively throughout the book, simulating a specific hedging strategy from its inception to maturity following a common pattern. Coverage includes instruments such as forwards, swaps, cross-currency swaps, and combinations of standard options, plus more complex derivatives like knock-in forwards, KIKO forwards, range accruals, and swaps in arrears. Under IFRS, derivatives that do not qualify for hedge accounting may significantly increase earnings volatility. Compliant application of hedge accounting requires expertise across both the standards and markets, with an appropriate balance between derivatives expertise and accounting knowledge. This book helps bridge the divide, providing comprehensive IFRS coverage from a practical perspective. Become familiar with the most common hedging instruments from an IFRS 9 perspective Examine FX risk and hedging of dividends, earnings, and net assets of foreign subsidies Learn new standards surrounding the hedge of commodities, equity, inflation, and foreign and domestic liabilities Challenge the qualification for hedge accounting as the ultimate objective IFRS 9 is set to replace IAS 39, and many practitioners will need to adjust their accounting policies and hedging strategies to conform to the new standard. Accounting for Derivatives is the only book to cover IFRS 9 specifically for the derivatives practitioner, with expert guidance and practical advice.
A technical resource for self-directed traders who want to understand the scientific underpinnings of the filters and indicators used in trading decisions This is a technical resource book written for self-directed traders who want to understand the scientific underpinnings of the filters and indicators they use in their trading decisions. There is plenty of theory and years of research behind the unique solutions provided in this book, but the emphasis is on simplicity rather than mathematical purity. In particular, the solutions use a pragmatic approach to attain effective trading results. Cycle Analytics for Traders will allow traders to think of their indicators and trading strategies in the frequency domain as well as their motions in the time domain. This new viewpoint will enable them to select the most efficient filter lengths for the job at hand. Shows an awareness of Spectral Dilation, and how to eliminate it or to use it to your advantage Discusses how to use Automatic Gain Control (AGC) to normalize indicator amplitude swings Explains thinking of prices in the frequency domain as well as in the time domain Creates an awareness that all indicators are statistical rather than absolute, as implied by their single line displays Sheds light on several advanced cookbook filters Showcases new advanced indicators like the Even Better Sinewave and Decycler Indicators Explains how to use transforms to improve the display and interpretation of indicators
An effective strategic framework for successful face-to-face selling for financial services industry professionals Times are very tough for people who sell professional services and Selling Professional and Financial Services Handbook offers a new solution proven in practice. The book describes methods the authors have used and taught since the 1990s, most recently at a major consulting firm, where they led a Global Business Development team to revenue gains of 500% over six years – in a period that included the recession of 2008-10. The solution is not any new twist on face-to-face selling techniques or the art of persuasion. It’s a strategic approach built around a simple fact: the markets are tight but far from static. Even with lean budgets, client companies must respond to urgent changes and emerging threats in their industries. Thus they will buy services from the sellers who can help them detect, understand, and cope with what’s coming their way. This handbook outlines a systematic way of becoming such a valued resource. Readers learn to scan the horizon for early signs of “rock-ripple events.” Major changes in the business world often spring from new developments that are little noted or heeded, at first, by the client companies soon to be affected by them. But like a rock dropped in a pond, these events set off ripples that sweep through entire industry sectors, creating must-have service needs. The book is written for everyone who sells, or is responsible for selling, professional services. This includes but is not limited to: law firms, consulting firms, finance industry, public relations, engineering, and architectural services. Readers who can benefit from the dynamic approach hold a variety of positions. They include: Attorneys, consultants and other practitioners who must sell their services as well as execute. CEOs, equity partners, practice-area leaders, functional and divisional leaders Private Equity or Venture Capital executives Sales or business-development professionals, from entry level to senior level Sales and marketing managers But the book is for sellers in every category who need a new and better approach to selling. Many, even the most skilled, simply have not adjusted to the new normal of today’s economy. They persist with old strategies that cannot be as productive as they once were, such as pursuing one-off opportunities (which are too few and too hard to win in lean times) or old-style “relationship selling” (which gains little if any traction). Selling Professional and Financial Services Handbook gives all such readers a new strategic framework within which to apply their face-to-face selling skills. It is an approach that puts them in position to win – so they can sell from ahead of the game, instead of struggling to keep up with it.
Discover how to remove behavioral bias from your investment decisions For many financial professionals and individual investors, behavioral bias is the largest single factor behind poor investment decisions. The same instincts that our brains employ to keep us alive all too often work against us in the world of finance and investments. Investing Psychology + Website explores several different types of behavioral bias, which pulls back the curtain on any illusions you have about yourself and your investing abilities. This practical investment guide explains that conventional financial wisdom is often nothing more than myth, and provides a detailed roadmap for overcoming behavioral bias. Offers an overview of how our brain perceives realities of the financial world at large and how human nature impacts even our most basic financial decisions Explores several different types of behavioral bias, which pulls back the curtain on any illusions you have about yourself and your investing abilities Provides real-world advice, including: Don't compete with institutions, always track your results, and don't trade when you're emotional, tired, or hungry Investing Psychology is a unique book that shows readers how to dig deeper and persistently question everything in the financial world around them, including the incorrect investment decisions that human nature all too often compels us to make.