As a postgraduate student, you’re supposed to read a lot of books, journals and articles for the context of theories and subject matters. Your academic books and lecture notes show a glimpse of what any topic has to propose. At times, your understanding may contradict with the given theories so to remain objective and deepen your understanding, find time to grab a book. With today’s lifestyle in mind, reading a book could be the least favorable option but I bet the pleasure is worthwhile. The debate on benefits of reading books is for some other time. Here I share top 5 books for MBA or in my case Masters in International Business (MIB) students.
1. Good to Great by Jim Collins
This surely tops my list of business and management books. Jim Collins illustrate how companies can make breakthrough with disciplined people, leveraging disciplined thoughts and endorsing disciplined actions. From Good to Great provides extensive comparisons between the companies that maintains the bar of greatness despite internal and external changes and the “comparison companies” which could not sustain their stock market value, company culture and ROI but failed due to different factors.
Jim Collins supports his philosophy with the seven characteristics that clearly define the growth comparisons of the 11 companies that made a leap forward against the comparison companies. These underlying indicators determine whether a company conquest the stock market or crashes down gradually and ultimately. Reading this book, your knowledge expands on effective leadership, confronting change and building a culture that supports the growth of the organization and people associated with it.
“The Good to Great companies built a consistent system with clear constraints, but they also gave people
freedom and responsibility within the framework of that system. They hired self-disciplined people who didn’t need to be managed, and then managed the system, not the people.”
freedom and responsibility within the framework of that system. They hired self-disciplined people who didn’t need to be managed, and then managed the system, not the people.”
2. Breakout Nations: In the Pursuit of Next Economic Miracles by Ruchir Sharma
In this New York Times Best Seller, Sharma shares stories of emerging economies that are slowing down including BRIC (Brazil, Russia, India and China), the potentially stars like Nigeria, Philippines, Turkey and reinforces that small EU countries like Poland and Czech Republic could reshape the economic growth of Europe. Sharma’s book reveals the economies that could “breakout” despite the unprecedented drop in energy prices, slow growth of power houses (BRIC) and the political stability of these emerging economies. Sharma provides holistic insights of how some economies thrive or stumble. He opposes that traditional metrics promise economic growth and supports that the economic indicators of last decades are becoming less relevant with a county’s billionaire list, demographics of second big cities, dependence on commodities and technological advancement.
The book illustrates that deficiencies in good governance render economic growth as Brazil and Russia failed to leverage on their economic boom while Mexico and Vietnam’s poor infrastructure are hurting their growth margin. Meanwhile, he maintains high hopes for US, thanks to shale oil and gas, government’s policy to pay back private debts faster and high investment on technological innovation. Sharma coins South Korea the “Germany of Asia” and a gold medalist economy as the country poses sustained growth due to high-tech products, innovation in global consumer brands and strong leadership.
“The old rule of forecasting was to make as many forecasts as possible and publicize
the ones you got right. The new rule is to forecast so far into the future that
no one will know you got it wrong.”
the ones you got right. The new rule is to forecast so far into the future that
no one will know you got it wrong.”
3. The Power of Habit: Why we do what we do in life and business by Charles Duhigg
The Power of Habit is a self-exploratory journey that reveals why we do what we do, the logics and consequences of things we do in our life. The success stories of top companies like P&G, Alcoa, Target and NASA to the life-changing decisions of alcoholic, gambler and mediocre athlete, every single example signify a chain reaction between what we do to what we get. Charles pens this as ‘Habit Loop’ that habits form and shape our behavior that we don’t even realize it. Along the way, he proposes simple rules of breaking bad habits or replacing them with good ones that increase our productivity in studies, career and relationships.
To put in plain words, habits work in 3 step loops. Habits are triggered by the cues which become routine thus ending in a reward. Charles deliberates powerful but delicate, they don’t change as long as you are exposed to the cues and maintain the routines. He suggests that one way to change a band habit is through ‘Golden Rule’ that is by keeping the cues and rewards while changing the routines. One of the key lessons from this book is about willpower which reinforces good habits. Willpower can be strengthened by self-discipline, planning your reaction in mind for the worst scenario and maintaining your control.
The book has dozens of examples to reinforce Charles’ theories. Of all the Civil Rights movement led by Mark Luther King Jr. signifies how social patterns develop communities that began one of the greatest movements of all times. The Power of Habits is an empowering book to learn simple methods of forming productive habits.
4. Winning by Jack Welch
If you’re a business or management student, Jack Welch tops the list of management gurus. His management techniques have been praised by business leaders and intellectuals around the world. He is famously known for turning General Electric into the most valuable company by increasing the company’s value 4000% over the course of 20 years (1981 – 2001). During his career at GE, he primarily focused on employee empowerment, team collaboration and improving profitability. His book, Winning is read in top business schools which is practically a great guide for managers or business leaders.
According to Jack Welch, the core mission of a leader is ‘winning’ that is by identifying and maximizing your ‘advantages’. Like for GE, his mission was to be either No.1 or No.2 in your market or else leave the market. Therefore, Ge introduced ‘Stretch Goals’ which are hard to achieve but increase company profitability. GE is known for creating innovative solutions and for that you need to create a system/ culture where new ideas emerge and are rewarded. And when it comes to people, choosing the right talent bring long-term value. GE expands its business scope by mergers and acquisitions so Jack Welch touches important factors including culture, talent development and financial management that determine the success of these partnerships. His personal strategy, ‘buying a company only if its value was a close match with GE’s or it could easily be brought into the GE fold. I highly recommend this book to be inspired and inspire others.
“When the company is engaged in employee success, employees will naturally be more
actively engaged.”
actively engaged.”
5. The Alchemist by Paolo Coelho
The Alchemist? A fantasy book on this list?
It’s the story of a young shepherd, named Santiago who follows his dream to find treasures buried in the Pyramids. The story narrates his experiences and challenges along the way when he meets a Gypsy woman, a king and an alchemist. Yes, it sounds simple plot and so are the life lessons portrayed by the characters that are far more relatable to the readers than most superheroes’ tales. It’s not just a story of a boy in search of treasures but rather a journey to discover himself. Paolo Coelho intelligently connects with his audiences by simple but strong message in one of the top 10 most read books of the last 50 year having sold more than 150 million copies and translated into more than 80 languages.
From Pharrell Williams to Will Smith, some of Hollywood’s top stars claimed to have transformed by reading it. Because they connect with the core intent that is to pursue your dream despite the obstacles. Yes, this book earns its place on my list because you may have big dreams but the real challenge is to never let go off your dreams. Everyone makes a wish-list but only few make them possible. If you’re a postgraduate student, entrepreneur or business leader, make time to be inspired by one of the best-selling books of all time and you will surely thank ME for recommending it J.
“When you want something, all the universe conspires in helping you to achieve it.”
I hope you find new transformation by reading these books and feel more resourceful in your profession while enriching your library, certainly I hope so.
And if you do, please feel free to share to inspire others.
Other Honorable
Mentions:
Mentions:
- Who Says Elephants Can’t Dance by Louis V. Gerstner Jr.
- Blink: The Power of Thinking Without Thinking by Malcolm Gladwell
- Start with WHY by Simon Sinek
- Hostage at the Table: How Leaders Can Overcome Conflict, Influence Others by George Kohlrieser
- Smarter,Faster, Better by Charles Duhigg
Jawad Jahid
