Blue Line Imperative What Managing for Value Really Means
Produktdetaljer
Biografisk notat
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).
<p>"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...." (<em>Talk Business,</em> October 2013) </p><p>"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) </p>
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
Preface ix
Acknowledgments xiii
Chapter 1 What is Value? 1
Chapter 2 The Global Capital Market 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
"Professors Kaiser and Young bring a unique, entertaining and irreverent approach to teaching executives what it really means to create value - including the dangers of relying on conventional wisdom about performance measurement."
Tim Koller, author of Valuation: Measuring and Managing the Value of Companies
"Kaiser and Young introduce a fresh perspective on what value really means and how to manage toward it. This is an indispensable new look at the most important business issue all companies face."
Merlin Swire, Director, John Swire & Sons, Ltd
"In our firm, we implemented a new culture emphasizing that Each of Us Counts to get everyone motivated to contribute. When we added the focus on value creation as outlined by Kaiser and Young in The Blue Line Imperative, it ensured those contributions were oriented in the right direction for long-term success!"
Alberto Grua, Senior Vice President, Grünenthal Europe, US & Australia and Management Board member
"The Blue Line Imperative provides valuable lessons about what value is, how to measure it, and how to create it. Many companies follow the red line, thinking it is the right thing to do. This book explains why the red line ultimately does not work and why the blue line does."
Steve Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, The University of Chicago Booth School of Business
"The Blue Line Imperative is insightful, impactful, humorous and unique and the first guide that I have ever come across that gets to the core of why leaders, managers and companies fail. Embrace and apply these concepts."
Douglas Rosefsky, Managing Director at Alvarez & Marsal and two time winner of the Turnaround of the Year Award (Turnaround Management Association, 2003 and 2010)
"Kaiser and Young's The Blue Line Imperative connects the dots in the customershareholder value puzzle and delivers a resonating message on the necessity of building a data-driven company. In other words, stop chasing KPIs and start focusing on value creation that lasts."
Martin Heijnsbroek, Managing Partner, MICompany
Produktdetaljer
Biografisk notat
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).