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Driving Shareholder Value: Value-Building Techniques for Creating Shareholder Wealth

Autor Roger A. Morin, Sherry L. Jarrell
en Limba Engleză Paperback – 30 noi 2000
The authors draw on lessons learned since 1925 from industry leaders, winning companies, management gurus, and research to offer an examination of valuation methodologies, checklists, case studies, worksheets, and an integrative framework for VBM.
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Specificații

ISBN-13: 9780071590006
ISBN-10: 0071590005
Pagini: 397
Dimensiuni: 152 x 229 x 21 mm
Greutate: 0.54 kg
Editura: McGraw-Hill

Textul de pe ultima copertă

The Step-by-Step Guidebook to Benchmarking Today's Best Value-Based Management Approaches

"Finally, a 'how to' book that is not mired in impractical theory. Morin and Jarrell offer a forceful work, using empirical evidence, to demonstrate that strategy does create value--debunking some of the widely-held value destroying myths along the way. This is a groundbreaking book that is reflective of today's dynamic business environment. Anyone wanting to drive shareholder value, public or private, can find practical advice. I will recommend it to all of my clients."

--Rick Wimmer, Partner, Ernst & Young

"This complete description of Value Based Management from strategic analysis through its 'recipe for success' for effective implementation provides essential knowledge for corporate management, and clearly demonstrates why the 'M' in VBM stands for 'Management' rather than simply 'Metrics'."

--Mark C. Ubelhart, VBM Practice Leader, Hewitt Associates LLC

"Using both established and new techniques of analysis, "Driving Shareholder Value "describes how companies can increase stockholder value. Case studies and examples add to the readability and clarity. Morin and Jarrell's VBM framework ties it all together: corporate strategy, financial structure, and performance measurement/incentive compensation to explain in clear, understandable language how to create stockholder value."

--John B. McKinnon, Corporate Director and Former President, Sara Lee Corporation

"Value-Based Management is key to developing successful organizations at all levels--from seed-stage companies to mature businesses--and entrepreneurs, managers, and investors must understand how to create value to survive."Driving Shareholder Value "is a practical enterprise-wide approach for creating, measuring, and maintaining value across all levels of an organization. Morin and Jarrell have presented managers and directors with the specific game plan for creating value within a company. Their VBM framework should become the guiding principle for employees and managers at all levels. The real options perspective in particular holds enormous potential for evaluating venture capital transactions."

--John Ciannamea, Senior Managing Director, Longleaf Venture Fund

"Thanks to an unprecedented wave of takeovers, shareholder activism, and global competition, corporate America has become acutely aware of the importance of creating value for shareholders."

From the very first sentence in "Driving Shareholder Value," authors Roger Morin and Sherry Jarrell make their positions crystal clear: If you don't fully exploit the wealth creation possibilities of your corporation, someone else will--and their tactics could leave you on the outside looking in.

Far from being abstract and inaccessible, "Driving Shareholder Value "translates today's most prevalent and proven Value-based management theories into practical, concrete tools and approaches for implementing a shareholder value orientation throughout any organization. The only book that guides corporate strategy with valuation techniques, it incorporates the best features of strategic, financial, and institutional approaches into an integrative, coherent framework for determining how companies are governed, executives are paid, and business strategies are implemented and evaluated.

"There is no magic bullet for corporate success. VBM is more a single"framework "for targeting those business decisions that consistently add economic value--both immediate and long-term--to your company."

It only makes sense that, in order to become a successful VBM company, you must first benchmark your efforts against the VBM leaders. "Driving Shareholder Value "looks inside the strategic files of General Electric, PepsiCo, Abbott Labs, and other long-term value creators for guidance on: How to remove emotion from the equation--and look at your company from the perspective of the corporate raider Using the right tool for every type of business challenge, from compensation and capital budgeting to operations and strategy Implementation of proven, state-of-the-art-valuation methods, including cash flows to equity, adjusted present value, and real options strategic analysis

Value-based management will continue to drive company profits and productivity well into the twenty-first century, and executives at every level will be increasingly judged by their ability to make consistent, value-maximizing decisions. Let "Driving Shareholder Value "show you how today's leaders are successfully integrating VBM into their company structures--leading to better productivity, better quality and, ultimately, superior financial performance for their companies.