Part of our Strategy & Leadership Series, this book deals specifically with the subject of business management. This revised edition contains notes on each of the 12 Golden Standards and 12 Golden Safeguards, with the implication of these principles in modern-day context. In particular, the challenge posed by the US sub-prime mortgage crisis has been highlighted. We hope that it would prove to be useful to businessmen and aspiring entrepreneurs alike.

Tao Zhugong, a military strategist-turned-businessman during the Eastern Zhou Dynasty, has been recognised for centuries as the founder of the Chinese business school of thought. Long before modern principles of business practice were developed,Tao Zhugong had created and applied his own formula for success.A man before his time, his brilliant rules of management, marketing and entrepreneurship have survived in application to this day,as seen by the copies of his code of business ethics which are displayed in many traditional Chinese stores and offices. Human resource management, product development, customer service and foresight in making investments are but some of the aspects of his business theory, which also discusses the pitfalls of not practising the above.Inspiring and penetrating, this is a must-read for aspiring and successful businesspeople in the competitive modern world.

Introduction

The 12 Golden Standards

 1.Recruit selectively.

 2.Provide good customer service.

 3.Keep to your core business.

 4.Present a good image.

 5.Dare to take risks.

 6.Maintain good credit control.

 7.Assign tasks appropriately.

 8.Market your product boldly.

 9.Check your purchases thoroughly.

 10 Know your market.

 11.Adhere to company regulations.

 12.Develop a complete business plan.

The 12 Golden Safeguards

 1.Don't be miserly.

 2.Don't procrastinate.

 3.Don't be extravagant.

 4.Don't be dishonest.

 5.Don't be lax in collecting accounts.

 6.Don' t compete through pricing.

 7.Don't give in to herd instinct.

 8.Don't work against product life cycles.

 9.Don't be overly conservative.

 10.Don't rely too heavily on credit.

 11.Don't lockyour funds.

 12.Don't blindly endorse a product.