Kontes The CEO, Strategy, and Shareholder Value

Making the Choices That Maximize Company Performance
1. Auflage 2011
ISBN: 978-0-470-87590-2
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 274 Seiten, E-Book

A new look at delivering effective shareholder value from PeterKontes, a true leader in the world of strategic management
In The CEO, Strategy, and Shareholder Value, PeterKontes, a true leader in the strategic management field, outlinesthe key to creating and growing shareholder value. The properfocus, contends Kontes, is in using quantitative measurements asguideposts on the path to success. The book first outlines thebasics of the argument Kontes is making. He then briefly covers thefive most important areas for business leaders, followed by a moredetailed look at each of the focus areas. Finally, Kontes providesreaders with a road map to implementing his suggestions.
* Presents an argument for a more holistic approach to deliveringshareholder value
* Defines and then elaborates a new approach to strategicmanagement
* Written by a true thought leader in the field, regularlyfeatured in publications such as Fortune andBusinessWeek
Never before have business leaders experienced the kind of toughdecisions they are being forced to make as the economy undergoesincredibly rapid shifts. The common sense guide to successfulleadership, The CEO, Strategy, and Shareholder Valuedelivers exactly the kind of solid, dynamic advice that will keepyour organization moving on an upward path.

Autoren/Hrsg.

Kontes, Peter

Inhaltsverzeichnis

Preface xi
Acknowledgments xv
Introduction xvii
Chapter 1: Foundations 1
The Purpose of Strategy 2
The Role of the CEO 4
Five Choices That Shape Strategy 6
A Strategic Management Framework 9
Chapter 2: The Economics of Strategic Management 11
Economic Profit 11
Economic Profit and Strategy Valuation 13
The Financial Drivers of Economic Profit and Equity Value 15
The Strategic Drivers of Economic Profit and Equity Value 17
Dealing with Mythology 23
Chapter Summary 29
Chapter 3: Choosing the Right Performance Objectives31
Aspirations 32
Business Unit Objectives 34
Company Objectives 39
The Tyranny of Top-Down Targets 39
Chapter Summary 46
Chapter 4: Making the Right Participation Choices 49
General Considerations 50
Assessing Participation Opportunities 51
Offering Choices 63
Geographic Market Choices 67
Customer Segment Choices 72
Corporate Participation Choices 75
Chapter Summary 82
Chapter 5: Making the Right Positioning Choices 85
Positioning Choices and Competitive Advantage 86
Business Models 88
Execution Capabilities 107
Corporate Positioning Choices 111
Chapter Summary 122
Chapter 6: Making the Right Organizational Choices125
The Institutional Imperative 126
Governance Practices 128
Executive Processes 134
Executive Capabilities 151
Chapter Summary 155
Chapter 7: Making the Right Risk Management Choices157
Clarifying "Risk" 158
Setting Risk Thresholds 160
Portfolio Choices 162
Balance Sheet Choices 166
Ethical Choices 174
Chapter Summary 181
Chapter 8: Making It Work 183
Conditions Conducive to Success 183
Priorities for Change 189
The Prize 195
Chapter Summary 198
Appendix I: Economic Profit Growth, Earnings Growth, andTotal Shareholder Returns 201
The Data 201
The Analysis 202
Discussion of the Results 204
Appendix II: Economic Profit and Equity Value 207
Valuation Models 207
Maximizing Economic Profit Growth versus Maximizing Equity Value209
Valuation Issues 210
Appendix III: Economic Profit and Equity Value: Illustration213
Appendix IV: Reconsidering the Corporate Center 215
The Need for Change 215
Creating a New Model of the Center 217
Conclusion 221
Appendix V: CEO Pay Practices: An Alternative 223
Typical Package 224
An Alternative Approach 224
Illustrative Compensation Plan 226
Alerting The Board Early and Often 229
Notes 231
Index 239

Über Autor(innen)

PETER KONTES has a long and distinguished career advising chief executives on all aspects of strategic management. Peter was the cofounder and former chief executive of Marakon Associates, a firm cited by Fortune magazine as "among the half dozen firms that form the elite of strategy consulting." He coauthored a previous book, The Value Imperative. He has been a guest speaker at conferences sponsored by the Economist, Fortune, the London School of Economics, and the World Economic Forum, and has had articles appear in a number of publications including the Financial Times and Directors & Boards. He is currently an Executive-in-Residence at the Yale School of Management and continues consulting independently. He can be contacted at [e-mail].