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A comprehensive collection of effective litigation reports on a variety of subjects
Accounting, financial, appraisal, and economic experts called upon to provide expert testimony in legal proceedings need reliable models for the critical documents they will submit to the court. Litigation Support Report Writing collects eighteen exemplary reports from a variety of financial topics, providing professionals a comprehensive resource on this vital function.
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Book Description
How companies turn value-added into real profits
The Dollarization Discipline shows organizations and marketers how to effectively communicate the economic value created by their products and services. Too often, when companies compete using conventional sales and marketing approaches, they force customers to make financial decisions (how much to spend), based on non-financial arguments (product features and benefits). On this playing field, the company that can show true financial advantage in real dollars and cents wins every time. This book offers a step-by-step strategy for doing just that.
Every day, good companies suffer because they create value for customers but aren't able to keep their fair share. This is because most marketers can't fully explain the value customers get from their products, and the argument falls to the lowest common denominator-price. The solution is an approach to sales and marketing that goes beyond articulating features and benefits, but calculates the monetary value a customer receives from a product or service. This enables the seller to price the product as a true reflection of its value-and also let's the seller prove it to the customer!
With real case studies and detailed, step-by-step guidance on effective dollarization, The Dollarization Discipline finally offers a practical, straightforward way for marketers and business leaders to prove the value of their "value-added."
Jeffrey J. Fox (Gilford, New Hampshire) is the founder and President of Fox & Company, Inc., a marketing consulting firm. Fox is also the author of the bestsellers How to Become a CEO, How to Become a Rainmaker, and How to Become a Great Boss. Richard C. Gregory (Farmington, Connecticut) is a Senior Consultant with Fox & Company.
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How companies turn value-added into real profits
The Dollarization Discipline shows organizations and marketers how to effectively communicate the economic value created by their products and services. Too often, when companies compete using conventional sales and marketing approaches, they force customers to make financial decisions (how much to spend), based on non-financial arguments (product features and benefits). On this playing field, the company that can show true financial advantage in real dollars and cents wins every time. This book offers a step-by-step strategy for doing just that.
Every day, good companies suffer because they create value for customers but aren't able to keep their fair share. This is because most marketers can't fully explain the value customers get from their products, and the argument falls to the lowest common denominator-price. The solution is an approach to sales and marketing that goes beyond articulating features and benefits, but calculates the monetary value a customer receives from a product or service. This enables the seller to price the product as a true reflection of its value-and also let's the seller prove it to the customer!
With real case studies and detailed, step-by-step guidance on effective dollarization, The Dollarization Discipline finally offers a practical, straightforward way for marketers and business leaders to prove the value of their "value-added."
Jeffrey J. Fox (Gilford, New Hampshire) is the founder and President of Fox & Company, Inc., a marketing consulting firm. Fox is also the author of the bestsellers How to Become a CEO, How to Become a Rainmaker, and How to Become a Great Boss. Richard C. Gregory (Farmington, Connecticut) is a Senior Consultant with Fox & Company.
Customer Reviews:
As Mr Fox writes: "Early to bed, early to rise,Sell hard and dollarize!".......2007-08-09
In The Dollarization Discipline, Jeffrey Fox explains in detail what was explained briefly in his previous book "How to Become a Rainmaker". The idea of "dollarizing", which is translating to the prospect the value received in dollars, is a powerful idea. If you are running a business, selling a product or service and are NOT using this principle I can guarantee you are loosing sales. Successful companies know that although people often buy emotionally, they tend to justify their purchases intellectually. Leaving the scene of a sale without leaving the customer with the "dollarization" value (intellectual justification) is, in my opinion, a big mistake. The concept is powerful and the book is worth reading. My only complaint is that Mr. Fox could have explained the principle in half the pages. Buy this book and begin dollarizing like so many successful companies and salespersons are already doing. Enjoy!
Worth reading.......2006-10-24
How to sell anything, and what kind of market is out there in the 21st century. Dollarization is all about "the financial impacts a product or service has on its buyer." In other words, how to express your product's value in customer's dollars so s/he sees that the purchase saves or makes money for the customer.
Read together with Mass Affluence by Nunes and Johnson.
(Review based on reading commercial executive summary.)
Financial application/study for sales and marketing managers in business markets.......2006-02-14
The concept/main theme of the book is simple: "To convince your customers of the benefits or edges of your products, you have to quantify and communicate those values in monetary terms, and let them know that your higher priced and differentiated products truly cost less than your competitors'." The authors give a lot of business cases, ad samples and even calculation tables to elaborate the usefulness and the techniques of it, though most of them are for the business market only. The difficulties or scarcity of it in the consumer market, per the authors, is that businesses are implicitly profit driven. It is hard to dollarize the "psychic income" from consumers' feel good purchases.
Anyway, for those sales and marketing people well experienced in dealing with their accounting/finance colleagues for endorsement of business proposals, and for those working in consumer markets or commodities markets (which the authors dont agree so re the later, which they paraphrase Harvard Business School Professor Theodore Leavitt: "There is no such thing as a commodity, only lack of marketing imagination), they wont be satisfied by this book.
You gotta read this one!.......2005-06-11
This book is not a difficult read but it requires some homework to convert the principles to your business. Trust me - this is no Book-Of-The-Month. It might just be the Book-Of-The-Year for professional salespeople.
Dollarization Is (Common) Sense.......2005-06-10
As Fox and Gregory clearly demonstrate, it really does take rigorous discipline to "dollarize" one's impact on a business relationship, both directly with a customer and indirectly with that customer's own customers. They have devised a concept, Dollarization, which they define as "the translation of the benefits a product or service delivers to a customer into the dollars-and-cents financial impact to that customer." They assert that the primary objective of a company should be to create value for its owners, and, that the best way to achieve that objective is to create maximum value for each customer. In other words, marketers and sellers tend to talk "value" but few actually understand and then sell their true financial value. Most marketers allow customers to make price the most important factor in a purchase decision. On the contrary, price should be considered as just ONE of the many costs involved in buying a product. For example, the purchase price of a car is obviously one factor to consider. However, fuel economy, maintenance costs, resale value, insurance, etc. should also be taken into full account while making the purchase decision. Those who master the Dollarization Discipline are prepared to explain all this to each prospective buyer.
In Section 1, Fox and Gregory introduce the Dollarization concept (e.g., Why Dollarize?); in Section 2, they identify and explain correlations between Dollarization and selling (e.g. How to shorten the sales cycle?); in Section 3, they do the same for Dollarization and marketing (e.g. How to price new products?); and then in Section 4, they recommend a number of strategies and tactics by which to apply various Dollarization techniques (e.g. constructing the Customer Value File). Once having read these separate but interconnected Sections, the reader is then introduced to "The Dollarization Doctrine: Ten Rules to Successful Dollarization." I presume to recommend that this Appendix (pages 249-251) be read before Section 1 and then re-read before reading each of the following three Sections. Presumably careful readers will highlight or underline key passages for purposes of review later. So I also presume to recommend that each review begin with a re-reading of the Appendix. The Rules which Fox and Gregory offer can -- and should -- guide and inform application of the Dollarization Discipline to any competitive marketplace.
Throughout the narrative, Fox and Gregory include specific advice. For example, when beginning to determine the value created for a single customer or for an entire population of customers, follow these five steps: Identify your direct competition, articulate what differentiates you from the competition, identify all the ways your differentiating features benefit your customer, determine how to quantify those benefits, and then determine how the quantified benefits result in dollars-and-cents savings for the customer. (See Table 20.1 on page 207).
Here is another example of how the Dollarization Discipline can be beneficial. During a recent conversation with one of his most important customers, the CEO of one of my client companies learned that relatively minor adjustments of the delivery schedule would enable that customer to process much more quickly his own customers' orders. (The details are unimportant.) Certain adjustments reduced the sales cycle while accelerating receivables but they also strengthened relationships between the OEM (my client), its customer, and its customer's own customers. One of the most significant and yet least appreciated realities of business is the dollar-and-cents value of time. It is important to quantify the value of reducing a vehicle's fuel consumption, for example. It is also important to quantify the reduction of first-pass yield and cycle time within the process by which that vehicle is produced. Really, applications of the Dollarization Discipline are limited only by one's ability to recognize them.
Warren Buffett once said something to the effect, "Price is what you charge but value is what others think it's worth." Fox and Gregory agree. The single greatest benefit of their Dollarization Discipline is that it allows both seller and buyer to calculate accurately and (yes) verifiably the total value of a given product or service. Granted, making that determination may require substantial time and effort. So what? Use the Dollarization Discipline to calculate the ROI. You may well be very surprised by what you learn...and perhaps regret that you haven't used the Dollarization Discipline until now. Cheer up! Many (most?) of your competitors will never read this book. Just make certain that all of your associates do.
Average customer rating:
- good and unbiased intro to a much politicized topic
- good and unbiased intro to a much politicized topic
- Old papers
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Dollarization: Debates and Policy Alternatives
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Hardcover
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ASIN: 0262122502 |
Book Description
With the persistent instability of international financial markets, emerging economies are exploring new ways to reduce exposure to capital flow volatility. Some analysts argue that financially open economies are best served by more flexible regimes, while others argue in favor of extreme exchange rate regimes that have a strong commitment to a fixed parity or dispense with an independent currency. The successful launch of the euro has made more realistic the prospect of replacing a national currency with a strong foreign one. Recent examples include the adoption of the US dollar by Ecuador and El Salvador.
The introduction of a foreign currency as sole legal tender, termed full (de jure) dollarization, has been the center of much political and academic debate. This book provides a comprehensive analysis of the issues from both theoretical and empirical perspectives. The topics discussed include the role of balance sheet effects, the linkage between currency risk and country risk, the impact of dollarization on trade, financial integration and credibility, the implications of dollarization for the lender of last resort, and the institutional and political economy aspects of dollarization.
Customer Reviews:
good and unbiased intro to a much politicized topic.......2003-01-14
As opposed to most of the literature on the topic (de jure/formal/full dollarization Salvadorean style; NOT de facto financial dollarization that characterizes many developing countries), this volume succeeds in presenting a balanced compendium of papers that summarizes the main issues, informing the reader without trying to sell a particular option. The Primer is particularly helpful for dollarization curious policy makers and economist without an emerging market orientation. While briefing on the contents of the different chapters of the volume, it tackles a number of diverse and related topics, ranging from old-style optimum currency area criteria to modern-style developing-coutries-cannot-manage-their-own-currency type of arguments (the so called monetary credibility argument), to non-economical political considerations, always avoiding easy simplifications of generalizations. For that reason, it may read as a little derivative sometimes, but a second reading and a long reference list provides a fairly comprehensive unbiased introduction that is difficult to find elsewhere. For those whose want more, the chapters elaborate on particular themes discussed in the introductory primer. The language is as diverse as the authors of the papers, going from an analytical presentation of the credibility-flexibility tradeoff by Chang and Velasco to a down-to-earth step by step guide for a prospective dollarizer by Gruber and co-authors, to a descriptive account of the political aspects by Frieden. All in all, a nice introduction for the lay and an up to date reference book for the initiated. (True, papers can be downloaded, some even in the final version, from the Internet. But this happens to be the rule rather than the exception in these days. At least, MIT Press has done an unexpectedly creative job with the cover.)
good and unbiased intro to a much politicized topic.......2003-01-14
As opposed to most of the literature on the topic (de jure/formal/full dollarization Salvadorean style; NOT de facto financial dollarization that characterizes many developing countries), this volume succeeds in presenting a balanced compendium of papers that summarizes the main issues, informing the reader without trying to sell a particular option. The Primer is particularly helpful for dollarization curious policy makers and economist without an emerging market orientation. While briefing on the contents of the different chapters of the volume, it tackles a number of diverse and related topics, ranging from old-style optimum currency area criteria to modern-style developing-coutries-cannot-manage-their-own-currency type of arguments (the so called monetary credibility argument), to non-economical political considerations, always avoiding easy simplifications of generalizations. For that reason, it may read as a little derivative sometimes, but a second reading and a long reference list provides a fairly comprehensive unbiased introduction that is difficult to find elsewhere. For those whose want more, the chapters elaborate on particular themes discussed in the introductory primer. The language is as diverse as the authors of the papers, going from an analytical presentation of the credibility-flexibility tradeoff by Chang and Velasco to a down-to-earth step by step guide for a prospective dollarizer by Gruber and co-authors, to a descriptive account of the political aspects by Frieden. All in all, a nice introduction for the lay and an up to date reference book for the initiated. (True, papers can be downloaded, some even in the final version, from the Internet. But this happens to be the rule rather than the exception in these days. At least, MIT Press has done an unexpectedly creative job with the cover.)
Old papers.......2002-12-29
Table of content:
1. Dollarization: A premier
2. Dollarization: Analytical issues
3. Using balance sheet data to identify sovereign default and devaluation risk
4. Dollarization and the lender of last resort
5. Measuring costs and benefits of dollarization: An application of Central Americana and Caribbean countries
6. Dollarization: The link between devaluation and default risk
7. Implementation guidelines for dollarization and monetary unions
8. The political economy of dollarization: Domestic and international factors
Most of these old papers (from the academic time line) can be downloaded from Internet for free by searching from google.com, for example. These days Economics books by MIT Press tend to collect old papers and keep the table of content secret. What a good strategy.
Book Description
Early in 2000, Ecuador, confronted with a serious economic crisis, adopted the US dollar as its national currency. This book examines the conditions that led to this action, describing the repeated cycles of crisis and failed stabilization that fatally undermined confidence in the Ecuadoran sucre. The book then analyzes dollarization's initial results and its effects on inflation, growth, poverty, inequality, marganilization, gender, and the Ecuadoran family. It also puts the Ecuadoran experience with dollarization in an international perspective. Economists, policymakers, and anyone with a serious interest in Latin American affairs will find this book invaluable.
Customer Reviews:
World Bank propaganda.......2007-04-04
This is nonsense from the perspective of Quito. Maybe it makes sense in their 5 star hotels hobknobbing with CEOs and investors.
Book Description
Why should a developing country surrender its power to create money by adopting an international currency as its own? This comprehensive book explores the currency problems that developing countries face and offers sound, practical advice for policy makers on how to deal with them. Manuel Hinds, who has extensive experience in real-world economic policy making, challenges the myths that surround domestic currencies and shows the clear rationality for dollarization or the use of a standard international currency.
The book opens with an entertaining story of the Devil, who, through a series of common macroeconomic maneuvers, coaches the president of a mythical country into financial ruin. This ruler’s path is not unlike that taken in several real developing countries, to their detriment. Hinds goes on to introduce new ways of thinking about financial systems and monetary behavior in Third World countries.
Customer Reviews:
Great book.., help you to understand dollarization issue........2007-03-01
you will love it . it give you a clear and crispy picture about dollarization policy,currany trade,and the cost of stability... i love this book.
Average customer rating:
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Financial Dollarization: The Policy Agenda
Manufacturer: Palgrave Macmillan
ProductGroup: Book
Binding: Hardcover
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ASIN: 1403987599
Release Date: 2006-10-03 |
Book Description
Financial (unofficial) dollarization is widely seen as a critical source of financial fragility in both developing and emerging economies. This volume provides a rigorous and balanced perspective on the causes and implications of dollarization, and the basic policies and options to deal with it: the adaptation of the monetary and prudential frameworks, the development of local-currency substitutes, and the scope for limiting dollarization through administrative restrictions.
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The Dollarization Debate
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback
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ASIN: 019515536X |
Book Description
This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating whether or not a common currency is in their best interest. This intriguing volume brings together the leading participants in the current dollarization debates. Many advocate the notion of a common currency, while others feel that in doing so will create financial costs for all that take part, with the severity varying from country to country.
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Dollarization (Routledge International Studies in Money and Banking, 22)
L. Rochon
Manufacturer: Routledge
ProductGroup: Book
Binding: Hardcover
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ASIN: 0415298784 |
Book Description
The dollar is well on its way to becoming the world's currency. With literature on the fascinating subject of dollarization sparse at best, this book is impressive in its timeliness as well as its authority. The international array of contributors have managed quite a feat - an interesting book that expertly draws comparisons between dollarization and Euroland. Quite simply, this study is a must for anyone interested in the world of international finance.
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Dollarization.
Edouardo Levy Yeyati
Manufacturer: Yeyati, Edouardo Levy and Federico Sturzenegger (eds). Dollarization. MIT Press, 2003. Hardcover. 341pp. Fine, with bookplate / fine dj.
ProductGroup: Book
Binding: Hardcover
ASIN: B000TAGVWW |
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The Euro, Capital Markets, and Dollarization
Edward B. Flowers
Manufacturer: Rowman & Littlefield Publishers, Inc.
ProductGroup: Book
Binding: Textbook Binding
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ASIN: 074251305X |
Book Description
The Euro, Capital Markets, and Dollarization describes the economic and capital market results of the institution of the single currency, the euro, in Europe after January 2000. This startling event appears to foreshadow increased capital market efficiency, increased labor migration, massive cross-border mergers, the eastward spread of the monetary union, and the division of the world into currency blocs. Visit our website for sample chapters! Visit our website for sample chapters!
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