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What's Your MBA IQ?: A Manager's Career Development Tool

ISBN: 978-0-470-43957-9
384 pages
September 2009
What
What’s your MBA IQ? A combination of what you know and how much you’ve applied this knowledge on the job, your MBA IQ is what defines your management knowledge in today’s business climate. It’s what keeps you at the top of your profession, an expert in your specialized field with an understanding, as well, of cross-functional disciplines.

Arming you with a solid foundation across the entire MBA curriculum to interact with colleagues, clients, senior management, and professors at a higher, more advanced level, international business expert Devi Vallabhaneni helps you get the most from MBA-level topics—and ultimately, develop your career. This authoritative road map facilitates advanced management education and reveals a structured approach for career development in the management profession, equipping you with nuts and bolts coverage of:

  • General management, leadership, and strategy
  • Operations management • Marketing management
  • Quality and process management • Human resources management
  • Accounting • Finance
  • Information technology
  • Corporate control, law, ethics, and governance
  • International business
  • Project management
  • Decision sciences and managerial economics

The related self-assessment exercises available at www.mbaiq.com allow you to compute your MBA IQ. You can find out where your weaknesses are and then begin to develop your knowledge base to gain proficiency in all management areas and become a true business generalist.

Since the MBA degree has become a de facto standard in management education, the goal of What’s Your MBA IQ? is to make the knowledge contained in an MBA accessible to all business practitioners. As a result, this book is equally relevant to business practitioners, whether or not they pursue an MBA. Also, your organization can use What’s Your MBA IQ? to assess its business practitioners’ readiness for corporate rotation programs, high potential programs, the CABM, the CBM, or an MBA degree.

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Preface xv

Acknowledgments xvii

Introduction xix

Learning Module 1 General Management, Leadership, and Strategy 1

Learning Objective 1.1: Understand the Scope and Nature of Corporate Strategies 2

Learning Objective 1.2: Understand the Importance of Planning and Organizing Skills 10

Learning Objective 1.3: Understand the Importance of Directing and Leading Skills 14

Learning Objective 1.4: Understand the Importance of Controlling and Measuring Skills 19

Learning Objective 1.5: Understand the Importance of Motivating Skills 21

Learning Objective 1.6: Understand the Importance of Problem-Solving and Decision-Making Skills 23

Learning Objective 1.7: Understand the Importance of Negotiating Skills 30

Learning Objective 1.8: Understand the Importance of Communication Skills 32

Learning Objective 1.9: Understand the Importance of Conflict Management Skills 35

Learning Objective 1.10: Understand the Various Issues in Organizational Behavior, Culture, Change,
Development, Effectiveness, and Decline 38

Learning Objective 1.11: Understand How to Measure and Manage Business Performance Results 42

Learning Module 2 Operations Management 45

Learning Objective 2.1: Understand the Strategic Importance of Demand Forecasting 46

Learning Objective 2.2: Understand the Production Strategies and Manufacturing Performance Measures 47

Learning Objective 2.3: Understand the Production-Related Value Concepts 48

Learning Objective 2.4: Understand the Philosophies of Just-In-Time and Lean Operations 49

Learning Objective 2.5: Understand the Principles and Techniques of Inventory Management 52

Learning Objective 2.6: Understand the Principles and Techniques of Supply-Chain and Logistics Management 56

Learning Objective 2.7: Understand the Various Planning Systems Applicable to Manufacturing and Distribution Operations 58

Learning Objective 2.8: Understand the Various Short-Term Scheduling Systems Used in Production 60

Learning Objective 2.9: Understand the Theory of Constraints in Operations 62

Learning Objective 2.10: Understand the Principles of Production Economics and Application of Decision Tools 63

Learning Objective 2.11: Understand the Principles and Techniques of Equipment Maintenance and System Reliability 65

Learning Objective 2.12: Understand the Production Process Flows and Metrics 66

Learning Objective 2.13: Understand the Technology Deployed in Manufacturing and Service Operations 67

Learning Module 3 Marketing Management 71

Learning Objective 3.1: Understand the Components of Marketing Mix 72

Learning Objective 3.2: Understand the Expectancy-Value Model in Consumer Markets 72

Learning Objective 3.3: Understand the Brand Elements and Calculate a Brand Value 72

Learning Objective 3.4: Understand Competitor Analysis 73

Learning Objective 3.5: Understand the Pricing Strategies and Methods 73

Learning Objective 3.6: Understand the Marketing Communications Mix 75

Learning Objective 3.7: Understand the New-Product Development Process 75

Learning Objective 3.8: Compute the Customer Retention Rate 76

Learning Objective 3.9: Compute the Lifetime Value of a Customer 77

Learning Objective 3.10: Compute the Customer Conviction in Terms of Net Promoter Score 78

Learning Objective 3.11: Compute the Customer Loyalty Score 78

Learning Objective 3.12: Compute the Net Marketing Contribution Amount 78

Learning Objective 3.13: Compute the Marketing Profitability Metrics 80

Learning Objective 3.14: Compute the Market Development Index 80

Learning Objective 3.15: Compute the Market Share Index 80

Learning Objective 3.16: Compute a Product’s Lifecycle Cost and Economic Value to a Customer 81

Learning Objective 3.17: Compute the Relative Performance, Price, and Customer Value of a Product 81

Learning Objective 3.18: Compute a Marketing Channel Intermediary’s Transaction Value 82

Learning Objective 3.19: Understand the Relationships Among Price, Profit, and Market Share 83

Learning Objective 3.20: Understand a Marketing Channel’s Performance 83

Learning Objective 3.21: Evaluate the Advertising’s Effectiveness with Customer Response Index 83

Learning Objective 3.22: Learn How to Conduct a Marketing Portfolio Analysis 85

LearningObjective 3.23: Learn How to Develop a Marketing Budget 85

Learning Objective 3.24: Understand the Financial Performance Metrics Related to Marketing 85

Learning Objective 3.25: Understand the Nature of Marketing of Services 86

Learning Objective 3.26: Understand the Strategies in Product Management 87

Learning Objective 3.27: Understand the Stages in a Product Lifecycle 88

Learning Module 4 Quality and Process Management 91

Learning Objective 4.1: Understand the Basic Quality Concepts 91

Learning Objective 4.2: Understand the Various Definitions of Quality 93

Learning Objective 4.3: Calculate the Cost of Quality 94

Learning Objective 4.4: Calculate the Six-Sigma Metric 94

Learning Objective 4.5: Compute the Return-on-Quality Metric 96

Learning Objective 4.6: Apply Quality Tools 96

Learning Objective 4.7: Apply Statistical Process Control Techniques 98

Learning Objective 4.8: Compute Taguchi’s Quality Loss Function 100

Learning Objective 4.9: Understand the Role of Inspection and Quality at Source 100

Learning Objective 4.10: Understand the Process Management Methods and Tools 101

Learning Module 5 Human Resources Management 103

Learning Objective 5.1: Understand the Human Resources Planning Process 103

Learning Objective 5.2: Understand the Relationship between Job Analysis and Job Descriptions 104

Learning Objective 5.3: Understand the Recruitment Methods and Alternatives 105

Learning Objective 5.4: Understand the Employee Selection Process 106

Learning Objective 5.5: Understand the Employee Selection Tests and their Characteristics 107

Learning Objective 5.6: Understand the Employment Interview Process 108

Learning Objective 5.7: Understand the Pre-Employment Screening Process 108

Learning Objective 5.8: Understand the Employee Training and Development Process 109

Learning Objective 5.9: Understand the Management Development Process 110

Learning Objective 5.10: Understand the Organization Development Process 111

Learning Objective 5.11: Understand the Career Planning and Development Process 112

Learning Objective 5.12: Understand the Employee Performance Appraisal Process 113

Learning Objective 5.13: Understand the Employee Relations Issues 114

Learning Objective 5.14: Compute the Human Capital Metrics 116

Learning Module 6 Accounting 119

Learning Objective 6.1: Understand the Basic Concepts of Financial Accounting 120

Learning Objective 6.2: Understand the Purpose of the Accounting Cycle 121

Learning Objective 6.3: Understand the Types and Contents of Financial Statements 122

Learning Objective 6.4: Understand the Intermediate Concepts of Financial Accounting 128

Learning Objective 6.5: Understand the Advanced Concepts of Financial Accounting 132

Learning Objective 6.6: Learn How to Analyze Financial Statements 133

Learning Objective 6.7: Understand Various Cost Concepts and Cost Behaviors 140

Learning Objective 6.8: Understand the Principles and Techniques of Operating Budgets 143

Learning Objective 6.9: Understand the Application of Transfer Pricing 146

Learning Objective 6.10: Understand the Application of Cost-Volume-Profit Analysis 148

Learning Objective 6.11: Understand the Meaning and Application of Relevant Costs 150

Learning Objective 6.12: Understand Various Costing Systems for Products and Services 151

Learning Objective 6.13: Understand the Meaning and Application of Responsibility Accounting 152

Learning Module 7 Finance 153

Learning Objective 7.1: Understand the Need for Financial Plans and Controls 154

Learning Objective 7.2: Understand the Principles and Techniques of Cash Management 157

Learning Objective 7.3: Understand the Techniques of Managing Current Assets 160

Learning Objective 7.4: Understand the Various Types of Debt and Equity in a Capital Structure 163

Learning Objective 7.5: Understand the Techniques for Evaluating the Cost of Capital 169

Learning Objective 7.6: Understand the Principles and Techniques of Capital Budgeting 171

Learning Objective 7.7: Understand the Various Types and Risks of Financial Instruments 179

Learning Objective 7.8: Understand the Various Types of Valuation Models 182

Learning Objective 7.9: Understand the Nature of Business Mergers and Acquisitions 185

Learning Objective 7.10: Understand the Implications of Dividend Policies, Stock Splits, Stock Dividends, and Stock Repurchases 187

Learning Module 8 Information Technology 191

Learning Objective 8.1: Understand How to Plan and Manage the Information Technology Function 192

Learning Objective 8.2: Understand How Business Application Systems are Developed and Maintained 196

Learning Objective 8.3: Understand How Business Application Systems are Operated and Improved 198

Learning Objective 8.4: Understand the Need for Contingency Plans to Ensure the Continuity of Business Operations 201

Learning Objective 8.5: Understand How Information Technology Operations Are Managed 207

Learning Objective 8.6: Understand the Technology Behind Computer Network Management 211

Learning Objective 8.7: Understand how to Manage the Information Technology Security Function 217

Learning Objective 8.8: Understand How Databases are Designed and Managed 223

Learning Objective 8.9: Understand How Electronic Commerce is Facilitated and Managed 228

Learning Module 9 Corporate Control, Law, Ethics, and Governance 235

Learning Objective 9.1: Understand the Nature and Types of Corporate Control Systems 236

Learning Objective 9.2: Understand the Nature and Types of Corporate Risk 241

Learning Objective 9.3: Understand the Scope and Nature of Business Law, Policy, and Ethics, Including Social Responsibility 247

Learning Objective 9.4: Understand the Various Issues in Corporate Governance 256

Learning Objective 9.5: Understand the Nature and Types of Corporate Audits 260

Learning Objective 9.6: Understand the Nature and Types of Corporate Fraud 263

Learning Objective 9.7: Understand the Issues in Corporate Law Regarding Agency Problems and Costs 266

Learning Module 10 International Business 269

Learning Objective 10.1: Understand How to Develop and Manage International Business Strategies 269

Learning Objective 10.2: Understand the Various Issues in International Trade and Investment 271

Learning Objective 10.3: Understand the Nature of International Production Economics 275

Learning Objective 10.4: Understand the Nature of International Trade Laws 276

Learning Objective 10.5: Understand the Various Issues in International Financial Systems 280

Learning Objective 10.6: Understand How to Staff and Manage International Operations 281

Learning Objective 10.7: Understand the Various Issues in Conducting International Business in Cross Cultures 281

Learning Module 11 Project Management 287

Learning Objective 11.1: Define Project Management and Identify Success Criteria for Projects 287

Learning Objective 11.2: Understand the Various Types of Risks in Project Management 289

Learning Objective 11.3: Understand the Various Types of Project Structures and Organizations 291

Learning Objective 11.4: Understand the Project Management Process, Including its Lifecycles 294

Learning Objective 11.5: Understand the Various Methods in Project Planning, Estimating, Controlling, and Reporting 296

Learning Objective 11.6: Understand the Various Methods in Project Scheduling 303

Learning Objective 11.7: Understand the Project Management Metrics, Problems, and Governance Mechanisms, Including Project Audits 306

Learning Module 12 Decision Sciences and Managerial Economics 311

Learning Objective 12.1: Learn How to Apply Quantitative Methods to Business 311

Learning Objective 12.2: Understand the Basic Principles and Concepts in Economics 321

Learning Objective 12.3: Understand the Basic Principles and Applications of Microeconomics 322

Learning Objective 12.4: Understand the Basic Principles and Applications of Macroeconomics 325

Learning Objective 12.5: Understand the Basic Principles and Applications of Key Economic Indicators 332

Learning Objective 12.6: Understand the Nature of Economic Business Cycles and Industry Growth Levels 333

References 337

Index 339

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Devi Vallabhaneni, CABM, CBM, CPA, is the President and CEO of the Association of Professionals in Business Management. Prior to founding this nonprofit and higher-education organization, she worked for Gap, Inc., in international business development, as well as in Gap's online business development where she was responsible for devising expansion strategies for Gap, Banana Republic, and Old Navy brands. In addition, she helped start and worked with Arthur Andersen's litigation services practice at their Singapore and Hong Kong offices. She earned her MBA from the Harvard Business School and sincerely believes that sustained career development begins with knowledge development.
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"In the preface to her book What's Your MBA IQ? A Manager's Career Development Tool, Devi Vallabhaneni wishes she had had this book with her before she started her MBA at the Harvard Business School. Therein lies the inspiration for the book. MBA, she says, is like mastering a language and that one year shouldn’t be used for just picking up the basics. This book, therefore, is a guide for students preparing for their MBA entrance exams." (Livemint.com, August 15, 2010)

"The MBA IQ is what defines your management knowledge in today's ever-changing business cilmate. This informative book, by the president and CEO of the Association of Professionals in Business Management, serves as a roadmap, facilitating advanced management education." (AM New York, November 2, 2009)

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