This is an excellent book, neatly divided into a series of stages that are most likely to be relevant to a finance professional as opposed to a quant jockey. Whereas other finance textbooks attempt to be exhaustive and end up exhausting, Bender and Ward is noticeable for its lucid, to-the-point and informed view of the material. One can rapidly read a chapter and enjoy the process, returning again and again to key areas for deeper reference - a pleasant experience in an area too often devoid of colour. As the CFO of a young, growing company, this book is one of my most consulted resources.
A very practical guide, relevant for decision makers in any business environment and at any stage of your business life cycle - find out how add value to your organisation by aligning your financial strategy to your business strategy. A great read and fantastic reference book too! You cannot afford not to have a copy.
This book is surprisingly readable for this subject matter. It is written in a light style without too much expectation of already being a financial wizard or an accountant (you need a basic understanding of some of the terms). The short case studies make good sense of the academic material and it is easy to follow the process of thought that leads to the various financial strategies presented and methods of valuation for companies etc. It is also easy to dip into specific topics without having read the whole book, so will make an excellent post-study reference when trying to apply some of these specific methods and strategies.
For me, as a vivid reader of business books, Ruth's book talks thoroughly about corporate finance strategies and every aspect of integrating financial strategy into a business. The flow is conducted in a way of common sense, which is talking to my reflective mind and makes me to truly connect my business understanding into the big picture of corporate financial strategy.
By also knowing Ruth in person as an academic, I understand that the book reflects her philosophy of talking non-no-sense. Her understanding for financial strategy is integrated and dealing with the very basics. Her clear logic for corporate financial strategy is reflected in this book. At first, Ruth talks about putting financial strategy in context of the business and linking corporate aspects with the financial decisions including corporate governance and executive compensation. Then, Ruth related financial strategy to the corporate lifecycle from start-up to declining businesses. As a next step Ruth gives insights about transactions and operating issues by discussing situations including floating, M&A, PE, Turnaround, international corporate finance and working capital management. After all, Ruth gives us an overall view and understanding of integrated financial strategy, so that we can plog financial issues into corporate aspects.
I strongly recommend this book to everybody who wants to understand financial strategy in a large context and tries to interconnect business aspects within financial strategy. This book gives rich references of further readings as well.
In summary, an excellent common-sense business book. An easy, straight-forward read.
This book does an excellent job of making its subject matter approachable. In other hands, financial textbooks can become both complex and dull; Bender and Ward avoid both of these pitfalls. All the key concepts are made very clear, and there is just enough individuality to the writing that you can get a feel that the authors are real people, but not so much that it becomes distracting and chatty. The book is also more practical than others - yes, it is still a textbook, so you do not feel like you are reading something that someone has just made up, but it combines that rigour with information on how its ideas would apply to businesses in different stages of development.
The book is also admirably concise; it covers its territory without being overly long. One of the appendices, for example, covers in a few pages a topic that I have seen take up a chapter or more in other books - and it does it without sacrificing intelligibility.
Corporate Financial Strategy was a great (and pleasant) surprise to me in terms of it's engaging nature and content. It is an excellent, easy to read book and essential reading for any MBA finance module. Finance can at times threaten to be a dry subject; however the author's style makes it extremely engaging, with welcome touches of humour along the way.
I'm really not a finance person - but this book is so well written I understood it and did really well in my exams! (And I'll certainly be keeping it my bookshelf because I know I'll need it throughout my career) The text makes a dry subject interesting and even, dare I say it, entertaining!
A very well written book, that makes a complex subject easy to digest. Full of real life examples, and key insights thrown in at the right place, creating that 'aha' moment. I would recommend this book not just an MBA student, but to any casual reader who wishes to understand financial strategy. The working insights and case studies are perfect for readers who prefer learning from examples. Great Book!
Ruth's book is an excellent explanation of financial strategy: it blends the depth and expertise of the writer in a simple, clear and precise manner. A must for anyone wanting a down-to-earth, useful and practical instruction manual on corporate finance.
A comprehensive canter through the world of Corporate Finance drawing on real life experiences and sound theoretical knowledge. A must for all FD's in business who want quick, concise reminders of Financial Strategy and their practical applications. In these times it is extremely helpful to have this reference book available when faced with strategic alternatives, the breadth of knowledge of both authors is impressive and focussed. It is a timely reminder of best financial business practice. It is useful also for those of a non financial background to understand as it provides working insights at each step of the way.