What are the determining factors for the great success of some companies and the bankruptcy of others? Have you ever stopped to think about it? This is the question answered by Damrong Pinkoon in his book "CEO Know + How".
The book lays the foundation for effective business management and addresses everything a CEO and other leaders need to apply the best strategies. In this PocketBook, we will explain how this manual can bring great results for the company.
Damrong Pinkoon's "CEO Know + How" (2014) is a practical, straightforward guide for business leaders to be able to manage and make their business grow based on the most assertive tactics, giving managers a "north" to be followed.
With a background in business administration and marketing, Damrong Pinkoon is a successful entrepreneur in the luxury market and started his first business at the age of 26.
Due to his rapid success in business, he has written 14 books and is constantly invited to give lectures on business strategy. In the business field, the most prominent books are "Creative Management" and "Devil's Strategy."
This book is intended for CEOs, directors, executives, managers and entrepreneurs who want to understand even more about the art of running a business and achieving amazing results.
The book "CEO Know + How" is also recommended for students, teachers, and others in management.
The most prominent aspects of this book are:
This book has 6 parts: "Company Structure", "Business Strategy", "Competition", "Value Creation", "Brand Strategy" and "Strategic Thinking". Now let's see what are the main teachings of this work.
Do you have no time to read now? Then download the free PDF and read wherever and whenever you want:
The author Damrong Pinkoon brings core elements regarding the structure and organization of companies that achieve great results.
A company's vision, or what it wants to be in the future, depends on detailed planning considering the strengths, weaknesses, threats, and opportunities surrounding the business environment.
The mission of organizations is related to the ability to define and achieve the goals set by leaders.
According to the author, managers should always remember that in daily life they deal mainly with 4 resources:
For a company to excel in the market, it is essential that the CEO and other managers know the level of competition in the range in which they operate. At this stage, the concepts of monopoly (only one seller in the market), oligopoly (few supplying companies for any country) and perfect competition (many sellers to serve the market) are remembered.
Damrong Pinkoon emphasizes the importance of leaders maintaining a continuous pace of development as a way to beat the competition.
Planning appears again as an essential factor in financial management. Damrong Pinkoon points out the need for managers to always have a plan B for emergency situations.
To elaborate on this plan B, the ideal is to consider optimistic and pessimistic scenarios regarding sales volume, seeking a middle ground.
This part of the book "CEO Know + How" talks about the strategic actions taken by CEOs who want to lead the market.
The author considers an attractive investment as one that prioritizes rapid growth and high profit. As much as CEOs have to calculate risk when making decisions, it is essential to value the highest financial return for the company in the shortest possible time.
A successful business needs to have big and small plans. This means that large and intermediate projects covering all hierarchical levels must be planned and developed.
Through good planning and management of these projects, it is possible to implement more effective processes with high productivity and return.
Damrong Pinkoon states that leaders need to constantly compare the company's marketing skills against key competitors. It is essential to analyze the product offered, market demand and level of recognition of product quality by customers.
From this more detailed marketing analysis, the CEO can adopt new strategies linked to distribution channels, points of sale, new product creation and continuous improvement projects.
Developing cooperation between all departments and employees is one of the key factors in maximizing people's capacity and saving resources. In addition, team synergy and clear goal-setting enable companies to achieve results faster.
The author gives details of how to definitely beat competitors.
To beat competitors, it is essential that leaders know what high and low standards mean. It is possible to set a high-quality standard through already adopted international standards and use them as a reference.
One of the biggest indications of a low standard is the constant complaint from customers, which may be related to product, service, delivery times, etc.
According to Damrong Pinkoon in his book "CEO Know + How", to beat competitors is necessary to use all the strengths and competitive advantages that the company has. In addition, new selling points need to be developed by creating something new that can outperform the competition in the future and increase the competitive potential of the organization.
Advertising strategies, sales management, new product research and development, and human development are ways to create important differentiators.
The crucial factors for value creation in companies are mentioned.
Damrong Pinkoon brings the team concept to demonstrate how important it is to support each other, as in a football team. Thus, all employees and departments must contribute to increase the value creation of the company. Once again, the importance of cooperation as a way of generating better and constant results is mentioned.
For customers to feel that the product or service offered is worth the value invested, it is essential that companies make investments and develop research and development strategies, design, use of the best raw materials and marketing tools.
All these factors make their expectations exceeded. It must be clear that innovative products dictate the rules of the world. A clear example of this is Apple.
In this part, two major strategies to strengthen the brand are revealed.
The unique brand, called by Damrong "umbrella brand", is when all products of the same company fall under the same brand. Example: Johnson & Johnson.
Private labels are those created by retailers. They give customers the feeling that the brand is cheaper. However, it has the same qualities as similar brands.
The importance of strategic thinking for leaders who want amazing results is explained.
According to the author, a company with growth problems always has independent thinking, that is, one that does not consider the context of the whole company.
This kind of thinking confuses and "breaks" the cooperation needed to achieve more effective results.
As challenging, it is critical that companies develop strategic thinking. This process begins with the appreciation of systemic and holistic thinking, present in the most competitive organizations.
Systemic thinking considers the company's internal and external scenarios with a focus on developing strategies for the future. Holistic thinking favors the direction and collaboration between departments so that everyone is engaged in achieving their goals.
In the book "How to Think Like a CEO", author Debra A. Benton discusses how CEOs are successful. To this end, she conducts interviews with hundreds of CEOs of large corporations and well-known leaders, as well as public figures.
In the book "The Leadership Pipeline: How to Build the Leadership Powered Company" by authors Ram C., Stephen D., and James N. explain what are the 7 stages of leadership and the 6 transitions between them that a leader must pass to reach an optimal level of management.
Finally, in the book "Developing the Leader Within You 2.0", John Maxwell addresses the importance of the leader demonstrating that he cares about his team and developing leaders among them. In addition, he works with the idea that 80% of your efforts should be channeled into 20% of your most important priorities to reach his goals.
Did you like this summary? Leave your opinion in the comments.
To learn even more details about the book and apply all the teachings, simply purchase this manual by clicking on the image below:
And receive a weekly summary of the biggest best sellers to read and listen to whenever you want!