101 Things I Learned® in Business School (Second Edition)

At the highest executive levels, officers and board members may be concerned with the philosophical direction of the company, the organization’s mission, and the meanings of the company’s brand in the market.

“At some point, you have to let go and trust your people. You sow the seed of trust by giving trust. I truly believe delegation begins with trusting others—followed by letting go.”

The Yerkes-Dodson Law says that performance increases with stress, but only up to a point. When stress is too high, performance decreases.

To minimize them, end conversations and meetings with a summary of conclusions, including the participants’ responsibilities and the next steps to be taken.

Trademark: a distinctive word, phrase, image, sound, fragrance, or combination used by an individual or business to distinguish its goods. Registration with the U.S. Patent and Trademark Office results in formal legal ownership and is indicated by ®. The symbol TM indicates an unregistered trademark for products, while SM indicates an unregistered

meaningful statement asserts something specific, establishes priorities, precludes some possibilities, and describes what the organization does that some of its peers might not do: “We provide one- and two-year skills-intensive programs tailored to local employers’ needs. Where possible, we provide core academic instruction for students transferrin

A bond does not represent ownership, but is used by corporations and governments to borrow money. With secured bonds, the issuer pledges specific assets as collateral in exchange for cash. A mortgage bond is an example. In the event of bankruptcy, a court-appointed trustee sells the assets and uses the proceeds to repay the bondholders. Unsecured b

observer effect, by which individuals under study modify their behavior because of their awareness of the study.

Limited liability company: A hybrid type of ownership that combines some of the simplicity and tax flexibility of sole proprietorships and partnerships with the personal liability advantages of corporations. Corporation: A business