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The book describes the strategies and principles used by the world's biggest car manufacturer to reach the position it has acquired today.
Toyota was the company that gave the world "Lean Manufacturing" concept which helped it make highest quality cars at lowest prices and thus beat GM on their home turf.
The book describes how Toyota achieved the "lean Manufacturing" and other unique aspects of production, supply chain and human resource management used by Toyota (and then by several other Japanese firms).\
Though Toyota is a car maker, the management principles described are equally applicable to all kinds of businesses whether in manufacturing or services sector.
A must read for all entrepreneurs and managers.
The book hardly has anything that a 10th grade student having studied history would not know. Moreover, the author has presented everything in a manner that glorifies British imperialism. The dark acts of British governments the world over have not been emphasized much and definitely not criticized (On the other hand, the author doesn't fail to take potshots on other imperial powers). This is one of the most biased books on history I have come across. The author is himself an Englishman and is nothing more than a Chauvinist. He even points that Imperialism brings order and thus necessary and towards the end makes a point that American Empire has "failed" just because it renounces Imperialism and thus fears to pursue it. He also says that there will always be (Imperialism) Empires and what Britain did best to carry what it believed was the White Man's Burden and it brought modern governance to the colonies!!! I am so shocked, how can an author of such high stature be such a racist scum-shit!!!
This books brings to fore a new way of thinking about poverty. Rather than professing theoretical stuff, the book presents the results and interpretation of the experimental evidence found by the authors. The authors describe why micro-credit may not be the panache that it is made out to be or why poor make choices that sometimes seem to be grossly idiotic to us and yet make perfect sense to them and how policy makers, without understanding the psychology of the poor, end up drawing plans that, despite their well intentions, do more harm than good. Good read for anybody interested in understanding the root cause of poverty and ideal poverty alleviation policy measures.
One of the best books of its kind. Totally worth the money. The author is an establishes authority on economics and presents so many otherwise difficult to understand concepts of economics in a very easy to understand story-like manner. The book would certainly help the beginners understand the subject and its basic principles and those who already understand the subject, would make them all the more curious and help them understand answers to many questions they might have had, specially in the light of changing global economic scene. It doesn't surprise me that it could sell so many copies worldwide, this is one of the best books I have read on the subject.
I totally enjoyed the book, learnt a lot and definitely recommend it to all others, no matter how much you already know about economics!!!
The concept of "The Fortune At The Bottom of The Pyramid" has been around for some time and though it was first given by Dr. C.K. Prahlad, it has been worked upon and further refined and adopted by several others. It is now a part of Strategy Management courses in most Business Schools around the world and has been successfully incorporated by various organizations. Though he pioneered this concept through this book, the book is very archaic now. Definitely not an interesting read. Most of the things are well known now. At this price, I definitely do not recommend it. If you really want to know about BOP approach, better watch some related videos at youtube or some slideshow at slideshare or documents at scribd.... just google and you will get enough material.
A well researched and well represented account of the manipulative political and economic influence that Dhirubhai and Reliance yielded in India in 70s and 80s and in fact till now.
The book talks about the role of several corrupt practices that led to Reliance becoming the behemoth it has become and the nexus between the businesses and politics in India.
The book details the crony capitalism unleashed by Indira Gandhi and followed by the later generations of the Gandhi family and Congress party.
A must read for every Indian!
A very lengthy and, at times, confusing and boring, laden with several theories, but at the end conveys a few very important and valid points.
The author argues against the present remedy for economic progress in poor countries, being advocated by Washington based institutions like IMF and World Bank, essentially forcing them to open up to international free trade, often leading to local commerce, de-industrialization and primitivization their economies and thus leading to further poverty and economic chaos rather than any improvement (like in Peru, Russia, Mongolia etc.). The author that path to prosperity is industrialization and protection of domestic industry till they are mature and diversified enough to handle international competition. He argues that protectionism is exactly how rich countries became rich and move up the value chain but now they are not allowing the poor countries to do the same. The author suggests that "Rather than doing what the Americans say, these countries should do what the Americans themselves did".
The key take-aways from the book from the economic policy point of view are:
1. Move away from agriculture or natural resource based economy to industrialized economy so rather than exporting low valued raw material focus should be on the export of value added finished goods.
2. The domestic industries should be promoted and protected under import duties and import substitution policies and a healthy internal competition between them must be promoted
3. Open an industry for competition only when it is mature enough and then too, it should be done gradually
4. A country should try to diversify the economic activities occurring within the economy rather than being dependent on just a few star performers
5. If this is followed as has been said it would automatically lead to investment in more productive assets, better infrastructure and stronger educational and political institutions and it need not be the other way around (i.e essentially first infrastructure, education, health, politics etc. need to be fixed, incurring huge expenses, before economic progress can kick off, in fact, that may be dangerous)
Overall, I think it is a little too expensive and after reading this review you have pretty much read the book! So go for it only if you must!
Paul Krugman is a Nobel Laureate and needless to say this book is a masterpiece. If you have even the slightest of interest in Economics or any curiosity to know what leads to an economic crisis, how to detect it, how it can be handled or what the consequences can be, this is the perfect book for you.
It discusses in detail but with a very simple language, the various economic crisis from the Great Depression to Latin American Crisis of 80s, Japanese Economic Crisis of 90s, the Thai (or Asian) Crisis of '97 and American Crisis of 2008. The author takes great care to bring out the policy failures that led to each of these crises, the factors that exacerbated them and the response they initiated and how they could have been handled better, the learning that resulted and the impact they made.
A very interesting read with easy to follow, practical analogies to illustrate the concepts involved and a thought provoking description of events laid out in a very logical fashion.
Overall a great value of money! A must-read, I should say! Whole-heartedly recommended! If you had to read just one book to understand everything about economic crises, this would be it!
This books tells you how Maruti was just not a ambitious people's car project and changed the way India travelled but also how it brought about a change in managerial and technological landscape in India. The book tells how Maruti could achieve its high quality, reliability and customer satisfaction and how the company added value to both its cuatomers as well as employees. Maruti's story starts in the controlled Pre-Liberalization License Raj and continues into the competitive free economy era. The book tells the account of the Maruti Udyog was created, how Suzuki was of immense help in making the project a reality and how the difficulties facing Maruti, a PSU were overcome and what went into making a small Japanese car an icon of modern India. A must read, value for moneyspecially for those who are keen to know more on managing enterprises, policy making and the unique Japanese way of doing things.
Finally, hats off to Mr. R.C. Bhargava (the author), who was one of those whose committment fulfilled the dream of millions of Indians of owning a high quality car.
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