It seems like every six months or so, I see a new book that promises to give readers the amout of knowledge that took an MBA student two years to learn. I’m sure that many people see value in a single book, one that is smaller than any textbook that they read as an undergraduate student and one that offers all of the knowledge gained from a two year graduate degree. So the other day, while strolling through Border’s Book Store, I had an idea. Why not get together with some of our Russian Translation, Japanese Translation and Portuguese Translation workers and develop a ten minute MBA program for our new customers? This would provide all the information they need, thereby saving them time and money and putting them on the fast track to great earnings. But then it occured to me. Why offer a ten minute MBA when I could offer a five minute MBA program instead?
Well, we know it’s impossible to get a graduate business degree from a single book and a 5-minute MBA is impossible. But just as a builder can sell a house before it’s built, we can provide the nuts and bolts of an MBA education. In general, MBA programs are supposed to help managers run their businesses efficiently, so we gathered together our translators to begin to outline the common characteristics of profitable businesses. Basically, business success occurs when a business creates its own demand and supplies its products efficiently.
Growing Your Business Through Demand
Several Portuguese Translation workers were first to outline the way that demand is generated. They found that really successful companies identify a need, produce the product or service and deliver it in a timely manner. But this only works if the business provides the good or service at a better price or higher quality than the competitors.
Creating Profitability
While the Portuguese translation team worked, the Russian Translation team nailed down how to create profitability. To the Russian Translators, successful companies must sell products or services at prices that are high enough to cover costs and adequately compensate investors. Quite often, companies must be highly profitable and be a leader in market share. The difficulty arises in trying to simultaneously satisfy both investors and customers. This difficulty is one of the main reasons why people earn advanced business degrees.
Up until now we are well on the path to providing an MBA in five minutes. It was encouraging to see that the Portuguese and Russian translation groups grasped the daunting task that companies face when trying to please customers and investors. The goal is difficult, but many companies, like Fortune’s Most Admired, have succeeded at keeping both groups satisfied.
While the Portuguese and Russian workers finalized their thoughts on the above subject matter, some Japanese Translation workers began to define the key attributes that they believe are necessary for business success. According to the Japanese Translators, successful organizations must have talented people at all levels. They reinforced the importance of executives who create sound strategy, managers who provide positive motivation and make sensible decisions, and front line employees who provide outstanding customer service as a result of posessing the knowledge and skills required to effectively do the job. It was also pointed out by the Japanese translation group that business success results from excellent relationships with external suppliers, customers and investors. In conclusion, the Japanese translators reiterated that business success depends on having enough capital to carry out plans and operate the business.
In conclusion, if you have read to this point you are now realizing that we succeeded in developing a 15-minute MBA program that we managed to teach in 5 minutes – - and it was free.