Value Based Management: Developing a Systematic Approach to Creating Shareholder Value [Hardcover]

James A. Knight (Author)

Book Description

ISBN-10: 0786311339 | ISBN-13: 978-0786311330 | Publication Date: August 1, 1997 | Edition: 1

Value Based Management brushes aside the often-confusing amalgam of quick-fix management potions, and gives you tested tips and strategies designed to turn your company into an equity-enhancing machine. This long-awaited book describes how, once you have seen and tried the hundreds of different management theories that abound today, one goal will always remain: Enhancing Shareholder Value. Companies that focus on creating and building value become focused, goal-oriented, and successful at building the powerful business machines that are required in todayÕs give-no-quarter competitive environment. Performance measurement consultant James A. KnightÕs eye-opening book provides convincing proof that strategies designed to maximize shareholder value can benefit everyone involved. With its clear-cut diagrams, explanations, and case histories, Value Based Management demonstrates how every decision your management team makes can consistently create shareholder value. Its comprehensive benefits include a clear definition of the nature of corporate value, and how the act of enhancing it can create positive reverberations throughout the entire company; examples of companies that have successfully managed for value and how they have done it, alongside examples of companies that failed to manage for value and how you can avoid their pitfalls; and explanations of how Value Added Management creates the optimal balance between short and long term decisions, and helps your managers balance the trade offs between improved levels of profit and greater growth. Like so many journeys, the toughest step when focusing your company on Value Management is the first step. Take that first step today! Read Value Based Management, focus on the strategy and business questions it raises, then think about how its solutions can be tailored to fit your company. Once you have begun to implement Value Based Management your shareholders, along with your customers and employees, will recognize and reap the profitable benefits of a value based corporate mindset.

Editorial Reviews

Review

James Knight's new book is a thoughtful step-by-step analysis and implementation guide, emphasizing the critical factors any company can follow to achieve improved value based management. -- Richard Ferry, Chairman, Korn/Ferry International

Jim Knight convincingly tells why corporate governance ought to be focused on shareholder value; more importantly, he reveals how those responsible for setting the corporate direction can infuse value maximization considerations into all of their decision-making activities. -- Dennis E. Logue, Steven Roth Professor of Management, The Amos Tuck School, Dartmouth College

Jim Knight eloquently dismisses the 'magic bullet' school of shareholder value creation while convincingly laying out the key linkages between investor demands, strategy, measurement systems, and incentives. Value Based Management fully describes the imperative for challenges, and rewards of its subject more fully and accurately than any of its competition. -- Douglas B. Stotz, Director of Corporate strategy, Fleet Financial Group

Jim Knight is right on! To maximize shareholder value, business processes must be aligned from the CEO down to the shop floor. Everyone on the team has to be focused, measured, and incented to pull in the same direction. -- Lou Rupnick, SVP of Business Development, Xerox

From the Publisher

Value Based Management brushes aside the often-confusing amalgam of quick-fix answers and gives you tested tips and strategies designed to turn your company into an equity enhancing machine. You won't learn how to attend to investors at the exclusion of customers or employees. On the contrary, James A Knight's groundbreaking book demonstrates convincingly how strategies designed to maximize shareholder value can benefit everyone involved.

See all Editorial Reviews

Product Details

• Hardcover: 307 pages
• Publisher: McGraw-Hill; 1 edition (August 1, 1997)
• Language: English
• ISBN-10: 0786311339
• ISBN-13: 978-0786311330
• Product Dimensions: 9.2 x 6.2 x 1.1 inches
• Shipping Weight: 1.3 pounds
• Average Customer Review: 4.0 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,226,476 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

12 of 12 people found the following review helpful:

5.0 out of 5 stars Excellent introduction with detailed solutions, April 26, 1999

By 

[e-mail] (Pasadena, California) - See all my reviews

This review is from: Value Based Management: Developing a Systematic Approach to Creating Shareholder Value (Hardcover)

I've watched the words "Shareholder Value" creep into our business vocabulary over the past decade or so, and I've heard many explanations of how to optimize it. Unfortunately, there about as many definitions and techniques for measuring and managing it as there are books on the subject. I've read many of these other texts and worked with the other consultants Mr. Knight mentions in his book. But none of them have approached the precision and clarity of this book. Mr Knight starts with why management should understand the shareholder's needs and the proper methods for addressing those needs, then he takes the reader logically through all the steps (including the subtle nuances) of implementing such a program. There is no more comprehensive nor better written book on this subject on the market. If only Mr. Knight had written his book 10 years ago, many of us would have been saved from endless hours of vague and confusing meetings about what we were really trying to accomplish.

4 of 4 people found the following review helpful:

5.0 out of 5 stars A must read book for companies striving for value creation, July 14, 1998

By A Customer

This review is from: Value Based Management: Developing a Systematic Approach to Creating Shareholder Value (Hardcover)

This book shows how to develop and implement strategies regarding value creation for shareholders. It has a very good mix of theory and business cases. The core aspect of this book is the theory behind the imperative link of: Strategic Planning, Budgeting, Financial Reporting and Incentive Compensation. This theory is tested against many sucessful business cases. The author also shows why some companies fail after incomplete or wrong assumptions on the value based management implementation.

4 of 9 people found the following review helpful:

2.0 out of 5 stars A very basic point of view, March 9, 1999

By A Customer

This review is from: Value Based Management: Developing a Systematic Approach to Creating Shareholder Value (Hardcover)

I expected much more of it. Very basic in it's assesments and definition. I cannot get a real signification of EVA until chapter 6. Good for earliers beginners not awaiting for much academic support