The Blue Line Imperative: What Managing for Value Really Means

ISBN-13: 9781118510889 / Angielski / Twarda / 2013 / 320 str.

S. David Young

Opis

A groundbreaking guide to making profitable business decisions Do you wonder why your value initiatives aren't providing the payoff you'd hoped for? Could it be because you've been thinking about value all wrong? According to the authors of this groundbreaking guide, there's a very good chance that you have. Using examples from leading companies worldwide, they explain why every decision a company makes either creates value or detracts from it, and why, if they hope to survive and thrive in today's increasingly competitive global marketplace, company leaders must make value-creation the centrepiece of every business decision. Authors Kaiser and Young have dubbed this approach -Blue-Line Management, - (BLM), and in this entertaining, highly accessible book, they delineate BLM principles and practices and show you how to implement them in your company.

• Explains why the failure to properly define and assess value often makes it difficult for the people who manage businesses to effect long-term success
• Offers guidelines for making the satisfaction of customer needs and wants--i.e. value creation--the driver of all business activities
• The authors are respected academics at INSEAD, the world's largest and most respected graduate business school, with campuses in Europe, Asia and the Middle East

Recenzje

'You'd think this book is a heavy read from finance buffs but they break down value so every business owner can measure exactly what value means to them...' (Talk Business, October 2013)"The authors offer excellent guideposts for how to move toward "blue line" decision-making and how to detect the encroachment of "red line" behaviours" (December 2013)

Spis treści

Preface vii

Acknowledgements ix

Chapter 1 What is Value? 1

Chapter 2 The Global Capital Markets 23

Chapter 3 The Opportunity Cost of Capital 45

Chapter 4 The Expected Future Free Cash Flows 71

Chapter 5 Blue–line Management 93

Chapter 6 Shifting to Blue 115

Chapter 7 The Hazard of Growth 135

Chapter 8 Creating a Blue–line Culture 159

Chapter 9 Trust and Hierarchy in Blue–line Management 195

Chapter 10 Value and Decision Making 219

Chapter 11 Getting Net Present Value Right 233

Chapter 12 Becoming a Blue–line Manager 269

Appendix Blue–line Questions 289

Index 297

O autorze

KEVIN KAISER is Professor of Management Practice at INSEAD and Director of INSEAD′s Transition to General Management program as well as Director of the ABN Amro Managing for Value Research Fund at INSEAD. In addition to directing and teaching in many corporate client programs for INSEAD, he also teaches in numerous institutes and programs for private clients throughout Europe, Africa, the Middle East, and Asia. He was formerly Visiting Adjunct Professor of Finance at the Kellogg School of Management, Northwestern University, where he had previously earned his PhD in Finance. He was a member of the Corporate Finance and Strategy Practice of McKinsey & Company, where he led a variety of studies addressing value creation and corporate strategy.

S. DAVID YOUNG is Professor of Accounting & Control at INSEAD, where he teaches in the MBA program and in a broad range of executive courses. He has served as an advisor to companies in the U.S., Europe and Asia on various aspects of value–based management and is also a frequent advisor on analyzing financial accounts. David holds a PhD from the University of Virginia and is also a Certified Public Accountant and Chartered Financial Analyst. He is the author of a wide variety of articles in academic and professional journals, and is the co–author of many books, including EVA and Value–based Management: A Practical Guide to Implementation (2001), Profits You Can Trust: Spotting Surviving Accounting Landmines (2003), Attracting Investors: A Marketing Approach to Finding Funds for Your Business (Wiley, 2004), and Corporate Financial Reporting and Analysis (Wiley, 2013).

Blurb

The Blue Line Imperative is compelling, fun and provocative. It is a must–read!"

W. Chan Kim, bestselling author of Blue Ocean Strategy, The BCG Chair Professor of INSEAD and the Co–director of the INSEAD Blue Ocean Strategy Institute

Today′s business leaders need to monitor the sources of their company′s value and understand the trends and changes that affect it. When superficial indicators of corporate value are allowed to obscure the actual value of the enterprise, the results can be disastrous, as recent history has far too often shown. True value the "blue line" is not easy to see, but it is the only proper aim of any organization wishing to sustain success and growth into the future.

In The Blue Line Imperative, INSEAD professors Kevin Kaiser and S. David Young teach us how to sustainably grow any organization by uncovering the real drivers to value. They provide important lessons and cautionary tales including sources ranging from Daimler–Benz to the movie Die Hard II, Kaiser and Young demonstrate how to sustain competitive advantage over the long haul by focusing on value and creating a culture to support it. Every decision a company makes either creates value or destroys it. The Blue Line Imperative demonstrates with powerful clarity why the goal of any value–driven enterprise is to raise the blue line as high as possible, and shows us how to achieve it.