Larry Summers, President Bill Clinton’s last secretary is one of the two favorites to take the same post in the Obama administration.
While Timothy Geithner, 53, chairman of the New York Federal Reserve Chairman, a former chief economist of the World Bank. He became an undergraduate at the prestigious Massachusetts Institute of Technology at just 16 [...]

A business may face competition from various sources either within or outside its industry. Competition may come from essentially similar products or from substitutes. The competitor may be a small firm or a large multinational corporation. To gain an adequate perspective on the competition, a firm needs to identify all current and potential sources of [...]

Competition is basic to the free enterprise system. It is involved in all observable phenomena of the market-the prices at which products are exchanged, the kinds and qualities of products produced, the quantities exchanged, the methods of distribution employed, and the emphasis placed on promotion. Over many decades, economists have contributed to the theory of [...]

In a free market economy, each company tries to outperform its competitors. A competitor is a rival. A company must know, therefore, how it stands up against each competitor with regard to “arms and ammunition”-skill in maneuvering opportunities, preparedness in reacting to threats, and so on. To obtain adequate knowledge about the competition, a company [...]

Manager, leader, supervisor, and administrator are often used interchangeably, yet they are not the same. A leader is anyone who uses interpersonal skills to influence others to accomplish a specific goal. The leader exerts influence by using a flexible repertoire of personal behaviors and strategies. The leader is important in forging links—creating connections—among an organization’s [...]

Once you’ve identified two or three businesses you think you would enjoy and do well at, we suggest that you invest a few weeks, even a few months, to test out whether you are likely to find ample customers for these businesses in your local community.
The fact that a business appears in this book means [...]