The Eva Challenge: Implementing Value-Added Change in an Organization

ISBN-13: 9780471478898 / Angielski / Miękka / 2003 / 250 str.

Joel M. Stern; John S. Shiely; Irwin Ross

Opis

The co-founder of EVA shows how to apply it in today's new economy EVA-economic valued added-is a measure of the true financial performance of a company, and a strategy for creating corporate and shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the "shop floor." In The EVA Challenge, the authors outline how to implement EVA-from training employees to answering the most frequently encountered implementation problems faced by companies. This detailed "how-to" guide represents the second phase in the "EVA Revolution," showing executives around the world how to customize and implement EVA at their companies. Here, EVA converts learn how to work some "EVA magic" through company-specific initiatives and case study examples. Coverage includes completely new materials on "real options," leveraged stock options, and other concepts critical to corporations in both new and old economy industry sectors.

Spis treści

1. The Problem.

2. The Solution.

3. The Need for a Winning Strategy and Organization.

4. The Road Map to Value Creation.

5. The Changes Wrought by EVA.

6. Extendinge EVA to the Shop Floor.

7. Getting the Message Out: Training and Communications.

8. EVA and Acquisitions.

9. EVA Incentives.

10. How EVA Can Fail.

11. New Frontiers: Real Options and Forward–Looking EVA.

12. 25 Questions.

13. Recipe for Success.

Epilogue: EVA and the "New Economy," by Gregory V. Milano.

Acknowledgments.

Index.

O autorze

JOEL M. STERN has been Managing Partner of Stern Stewart & Co. since its founding in 1982. He currently serves on the faculties of five graduate business schools all over the world. A widely published writer, he has been a financial policy columnist for the Sunday Times of London. A recognized authority on financial economics, corporate performance measurement, corporate valuation, and incentive compensation, Mr. Stern is a leading advocate of the concept of shareholder value.

JOHN S. SHIELY is President of Briggs & Stratton, one of the most successful implementers of EVA. He began his career as a tax accountant at Arthur Andersen & Co., then served as a lawyer, first with the Hughes Hubbard & Reed law firm, later at Allen–Bradley/Rockwell Automation, and joined Briggs & Stratton in 1986 as general counsel.

IRWIN ROSS was retained by Joel Stern to assist in the writing of The EVA Challenge. He has written a number of books, including The Loneliest Campaign, The Image Merchants, and Shady Business. He is a former roving editor of Reader s Digest and over the years has written for a variety of other magazines, including Fortune and Harper s.

Blurb

". . . Buy it, read it on the plane and then start asking your top team some hard questions before your shareholders do."
Financial Times

PRAISE FOR THE EVA CHALLENGE

"The EVA Challenge provides helpful insights for both the beginner and the advanced EVA practitioner. Its real–life examples illustrate how the practical application of shareholder value orientation can align the goals of all organizational levels, motivate management by linking compensation to EVA performance, and bring additional value to shareholders."
Dr. Karl–Hermann Baumann, Chairman of the Supervisory Board, Siemens A.G.

"A very valuable book for practicing managers who must solve problems. The authors provide a wealth of information and examples not only on implementing EVA, but on performance measurement and compensation in general. Their analysis is first–rate. They draw from their extensive experience and from real companies, problems, and solutions. I especially like the chapter on EVA failures."
Michael C. Jensen, Managing Director, Organizational Strategy Practice, The Monitor Group; Jessi Isidor Strauss Professor Emeritus, Harvard Business School

"Joel Stern knows more about creating shareholder value than anyone in America. In The EVA Challenge, you’ll learn how the master dumps rusty old accounting rules and hands managers a remarkable new yardstick for measuring success. Want to know the concept that made Roberto Goizueta great? Follow the Adam of EVA."
Shawn Tully, Senior Writer, Fortune