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The net present value (NPV) of an investment is the present value of the series of cash flows generated by the investment minus the cost of the initial investment. Each cash inflow/outflow is discounted back to its present value and then summed together:

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Harvard Business School professor Michael Porter, in his 1979 book Competitive Strategy, developed the Porter’s Five Forces.

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Part 4 follows on from Part 3, and considers the principles developed by Sun Tzu on strategies for effective leadership.

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Part 3 follows on from Part 2, and considers the principles developed by Sun Tzu for dealing with business rivals.

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Part 2 follows on from Part 1, and considers the principles developed by Sun Tzu on organising your business affairs.

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