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Valuation: Measuring and Managing the Value of Companies, Fourth Edition
McKinsey & Company Inc. ,
Tim Koller ,
Marc Goedhart , and
David Wessels
Manufacturer: Wiley
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Valuation: Measuring and Managing the Value of Companies (Wiley Finance)
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Valuation: Measuring and Managing the Value of Companies (Wiley Finance)
ASIN: 0471702188 |
Book Description
Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition with CD-ROM combines is thoroughly revised and expanded to reflect business conditions in today’s volatile global economy. Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization’s value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new developments in academic finance, changes in accounting rules (both U. S. and IFRS), and an enhanced global perspective. This package contains a solid framework that managers at all levels, investors, and students have come to trust.
Customer Reviews:
Very fast, superve conditions.......2007-06-08
I strickly recommend this shop: just 10 days to Barcelona and new!
Difficult to use, disorganized.......2007-04-12
I used this book for an MBA finance class but I am not keeping it as a reference. I felt it was convoluted and badly organized. It was difficult to look up subjects using the index when you wanted to just crack the book and find a formula or look for something specific. Since that's what I would do if I kept the book as a reference, the value for me is not there. I'm looking for a different book that is better organized and easier to understand for my reference book.
Thanks you.......2007-02-12
I got the book right away and it is still in perfect condition. I am absolutely satify with market order. Thanks you so much.
new bk delivered within a week.......2007-02-11
the shipping fee is free and i got the bk within a week. Most importantly, it's a new bk which price is nearly half of the original price in the bookstore!! awesome!
This is a review of only the CD - i.e., Excel model.......2006-03-28
Let me say that I like the McKinsey model and use it a lot to value certain companies. Overall, I found that the Results section of the model really helped me understand the detailed nuances of the McKinsey model, especially given that the book itself is sometimes vague.
I gave the CD product 4 stars, instead of 5 stars, because I felt that:
1) The PDF instructional manual on using the model is woefully inadequate.
2) There were a few serious errors in the model.
3) The model took the easy way out on a lot of difficult valuation items.
1. The PDF manual is woefully inadequate. Reading it, you think the model is self-explanatory, but it really isn't. You have to really study the numbers to understand what assumptions the model wants you to make. In this regard, the book is marginally helpful, the examples in the book is slightly more helpful. In many cases, I had to turn to other valuation texts to figure out a few things.
2. The model is for the most part, error-free. But I did catch two calculation errors that I will share, so that others can avoid the pain. First, in the Forecast Drivers tab, there is a data row called Capex. It looks back at the optional Capital Expenditure line as an off-balance sheet item in 'Historical Data.' This is inconsistent with the book's data driven approach and specification that CapEx = change in Net PPE + Depreciation. You may want to recorrect the Capex formula to specify this. Why the model asks us to manually specify the Capital Expenditures in Historical Data, I have no idea.
Another error I saw is in the Results tab. In the Ratios section, there is one called 'Enterprise value / EBITA'. If you look at the formula, it points to EBIT. You need to correct this by having it point to Reported EBITA.
3. I think the model takes the easy way out on a lot of the most difficult items. For example, the book advocates treatment of R&D as a capitalized asset, and yet the model excludes this entirely. The book advocates dealing with the market value of debt, but the model just incorporates the book value of debt. The model leaves as an entry item the value of the lease as a balance sheet item, when it you could easily just as well incorporate extensions to model this. This is the same for options, convertible debt, customer receivables, unutilized/discontinued assets, etc.
Basically, the book is aggressive in advocating a firm estimation of operational value, NOA value, and Debt/DE claims, but the model is much less ambitious.
This does not make the model useless. It's a great data-driven model. It just requires the user to build sophisticated extensions to deal with the most complicated parts. At the same time, this is no cheap model. They are probably making lots of money on it. I would have expected the folks at McKinsey to provide extensions to handle the most complicated aspects of valuation, in addition to the core items.
Book Description
Case Studies in Finance links managerial decisions to capital markets and the expectations of investors. At the core of almost all of the cases is a valuation task that requires students to look to financial markets for guidance in resolving the case problem. The focus on value helps managers understand the impact of the firm on the world around it. These cases also invite students to apply modern information technology to the analysis of managerial decisions.
Customer Reviews:
for advanced level classes.......2007-07-31
This is a great book. However if you want to get the most out of it
1. You need to already know corporate finance- intermediate to advanced level.
2. This book has only cases. Only if they are discussed in a classroom setting, you would be able to learn something.
The extent to which you would learn would depend upon how well the Professor conducts the discussion in the class. I had a great Prof. for this class so I really applied whatever I learn over 3 semesters of finance.
WARNING-These are only cases, almost NO content.......2004-03-18
I bought this book to read outside of a class hoping to read through some really good case studies in finance, and hopefully apply several semesters worth of finance classes to some real world examples. However after receiving the book I realized that these were only cases, not case studies, meant to be discussed in a class. There is almost no content, and college professors would actually be better off building their own cases from current business publications.
Good Finance book.......2004-01-28
The cases in this book will make one think more than other books in this area.
Bravo to Bruner!.......2003-02-10
Case Studies in Finance and its instructors manual are absolutely the BEST of their kind in all the years I've been teaching finance and strategy. Bravo to Bruner! I've never seen an instructor's manual so complete. The At-a-Glance section has been very helpful when structuring a course design. Case Studies in Finance and its supplements are being used by the finance faculty at ESADE Business School, in Spain, as a guide to restructure their first year core finance course in the Full-Time MBA programme.
Excellent, made the subject practical.......1999-02-22
The book was excelleant, but I never knew if the answers I provided were correct, is there no model answers on the case studies that one could check one's answers against. I am a final year MBA student in South Africa with no real previous Finance experience and this book really assisted me in gaining a practical understanding. Please let me know about model answers
Download Description
"It's more important than ever for companies to objectively assess the value of their customers. But conventional measures of ""customer lifetime value"" haven't been linked to overall business value and haven't been useful to senior managers. Managing Customers as Investments overcomes both shortcomings.
Through practical examples and case studies, you'll learn a rigorous yet simple approach to estimating the lifetime value of your customers¿and how you can use that information to make better tactical and strategic decisions. You'll learn how customer value calculations impact customer acquisition, service, retention, and segmentation¿as well as strategic M&A and alliance decisions.
Whether you're a CxO, line-of-business manager, marketer, analyst, or investor, Managing Customers as Investments will help you focus your resources where they'll deliver maximum value.
Key takeaways include
- Customers are assets
- How to calculate the value of customers in a simple way
- How the value of customers provides the basis for marketing strategy and planning
- The importance of balancing the value of the customer to the firm with the value the firm provides to the customer
- How to use the value of the customer as a basis for firm valuation and M&A decisions
- The implications for organization and incentive structure and the limitations of product and brand management
- How to link customer value to business value
- Practical techniques for CxOs, line-of-business managers, marketers, financial analysts, and investors
- How to make better decisions about marketing, partnerships, and organizational structure
- Easy-to-use metrics and real-world case studies
What your customers are really worth: crucial knowledge for better strategic and tactical decision-making
How can you find out, without endlessly complex modeling? And after you know, what should you do with that knowledge?
Managing Customers as Investments has the answers¿and they may surprise you.
You'll learn surprisingly simple ways to get reliable customer value information...and get it in a form you can use.
You'll learn how to use it to measure your marketing effectiveness more accurately than ever before¿and drive improvements throughout your entire customer relationship lifecycle.
You'll learn how customer value can bring new clarity to decisions about M&A and firm valuation.
Everyone tells you to manage your business around customers. This book gives you the tools to do it.
"
Customer Reviews:
Good Quality, Poor Quantity.......2007-09-19
The substance of the information presented was genuinely useful knowledge. The first 2 or 3 chapters really give a good analysis of the value of a customer. The extensive examples that follow are merely verbose repetitions of the previously presented (and actually well supported) concepts. Sadly there is not a Harvard Business Review for this book, but there should be, to cut down on absorbtion time. Not a waste of money, but perhaps time.
Very interesting customer life time model but a bit weak in customer strategy level.......2007-03-16
Book is centered around understanding customer life time value and what is the required mind set and strategy to drive customer life time value as a business driver.
Life time value model is very very interesting because of its simplicity yet usability - I plan to use it. However where the book is no delivering is its strategy angle. Customer strategy is too much simplified as how do you drive customer acquisition and retention with different programs highlighting the loyalty programs (and also setting some question marks on it). What the book does not address is the core mindset of customer driven business strategies: How companies should understand the business they are in from outside in view i.e. from customer side: what is the category we are in, what is the mindshare we have among our customers, how are we integrating our business and the offerings to our customers' businesses and lifes, what alternative business models we have to drive life time value.
But because the life time value is useful and the book as total is rather enjoyable to read I recommend this book
The Customer Lifetime Value approach to business strategy.......2006-12-18
"Managing Customers..." does a wonderful job of providing a holistic approach to customer lifetime value (CLV).
Founded on the principle of viewing customers as assets, the book provides a super-efficient, highly-impactful read on transforming the CLV principle into actionable tactics in key aspects of business - fusing marketing, finance, and organizational structure into a well-aligned strategy for enabling a business to maximize the value it creates & derives from customers. Truly a must read for students of business.
On a side note - just wanted to express how impressed I have been with all of The Wharton School books that I have read to date - they are truly some of the finest business books available.
Highly recommended to all marketing executives.......2006-07-12
How much are your customers worth? If financiers and investors had bothered to ask themselves this basic question, they might have prevented the Internet bubble and other expensive corporate mistakes. Such disasters can occur when people invest in businesses with no earnings and fanciful business models. Authors and professors Sunil Gupta and Donald Lehmann make a powerful case that executives should abandon outdated business-evaluation models based on traditional financial metrics, such as cash flows. Instead, they should rely on the present and future value of their businesses' customers: the "customer's lifetime value," or CLV. The authors discuss these issues in understandable language and buttress their arguments with formulas that will enable marketers to implement their ideas. They also provide helpful examples that are like mini business-school case studies. We highly recommend this book to all marketing executives, as well as to executives who are financially responsible for mergers and acquisitions, or advertising. This book could change the way you do business and increase your earnings from your best customers.
Important metrics for effective customer management.......2005-12-12
Are you spending more on your customers than they are worth? That is the question these authors attempt to answer in this book. Whether it is acquisition cost or retention cost many businesses may be spending too much on their customers. As with all investments there is a time to increase investment, a time to hold them, and a time to let them go. This is a detailed analysis of how to develop metrics for your company that help determine customer value. With increasing customers there are increasing costs. Once you have developed your metrics they show how to use that information to determine things like customer lifetime value. Once you know their lifetime value you can make effective marketing and management decisions related to your customers. You have to manage your customers in order to manage your business. Now you can determine how to best manage your customers. A practical approach to managing customers that is both effective and easy to apply while providing real results. Managing Customers as Investments is a recommended read for all marketing and customer-centric managers as well as all corporate executives.
Book Description
The effective management of project portfolios that include numerous short-term projects, large multi-project programs, or both has become a growing challenge for industry, government, and other institutions.
The Program Management Office is a guide to satisfying the needs for improved coordination, standardization, optimization, and management of project portfolios and the general practice of project management. It details the role and function of the PMO, processes for establishing and managing a PMO, and the three primary missions the PMO should serve to bring maximum value to organizations.
Customer Reviews:
A good, comprehensive textbook on PMOs.......2007-10-05
This books has been pretty valuable to me on my latest project. I'm a PMP who has done a lot of project management, but I've this was the first time I had to setup a PMO from scratch. With that task in mind, I started scraping together all of the PMO resources I could find. I located this book on Amazon and, after reading a few reviews, purchased it along with a few others.
First, the information in the book is well organized and the chapters are clear and concise. The first half of the book describes the process and requirements of setting up a PMO while the second half discusses PMO operations and on-going challenges after it is up and running. It didn't take long for me to rip the information from the first few chapters and develop a clear step-by-step plan for my project.
Normally, I find these textbooks complete snooze-fests but this one wasn't too bad. Either Craig Letavec did a great job in writing the book or my fear of tanking the project overcame my textbook-induced narcolepsy. Either way, I got what I needed from the material. Recommended.
Works for me.......2007-08-02
Well done overall... walks you through how to develop your business case and sell the PMO, which is helpful if you have to do the selling like I did. Good coverage of practical items on how to start-up the PMO, what to focus on, how to develop a plan, common mistakes, and so forth. If you read from front to back, you more or less get a walk-through of PMO planning, implementation, and operation.
The second part of the book talks about roles of the PMO in several different areas (knowledge, consulting, and standards are the broad topics). The standards portion was most relevant for me as our PMO is expected to develop and enforce entrprise-wide PM practices. It gave me what I needed to know to get a good plan together. The knowledge and consulting sections were good reads as well--just not immediate focus areas for me personally.
So, to me, it was more complete than other PMO books I've seen without drowning me in detail. The website companion templates and so forth were good as well but expanding them would help. Hard to complain since they're free.
A good resource.......2007-04-26
This book is organized well and I found it to be an easy to follow guideline.
A good, practical resource.......2006-11-28
I bought this book because my company is considering implementing a PMO within our IT organization. Not knowing much about how to go about starting a PMO, I was looking for something that would give me some ideas on how to structure a PMO and how to plan and implement our PMO in a way that had some reasonable likelihood of success. For me, this book was a great resource.
Specifically, I liked the focus on performing a needs assessment before chartering a PMO, the fact that book helped me figure out how to "sell" the PMO concept to IT management in my organization, and the breakout of potential roles for the PMO within an organization and examples of how the PMO can be used to address project and process problems. I learned a lot about what a PMO can achieve and how to position the PMO for success. For anyone who is working to develop a PMO in their organization, I think this book is a great resource. There is some "theory" but plenty of practical guidance that you can actually use. I even e-mailed the author with a question about something in the book and he wrote back a three paragraph response!
Book Description
Completely Updated, Over 200,000 Copies Sold!
"A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies." -New York Times
THE #1 guide TO CORPORATE VALUATION IS NOW BETTER THAN EVER!
"The book's clarity and comprehensive coverage make it one ofthe best practitioners' guides to valuation." -Financial Times
"Should serve very well the professional manager who wants to do some serious thinking about what really does contribute value to his or her firm and why." -The Journal of Finance
"Valuation is like a Swiss army knife . . . you will be prepared for just about any contingency." -Martin H. Dubilier, Chairman of the Board, Clayton & Dubilier, Inc.
"This book on valuation represents fresh new thinking. The writing is clear and direct, combining the best academic principles with actual experience to arrive at value-increasing solutions." -J. Fred Weston, cordner Professor of Money and Financial Markets, Graduate School of Management, UCLA
System Requirements:
Pentium II PC or greater
Windows 98 or later
128MB RAM
20MB Hard Disk Space
Excel 97 / 2000 (Alone or part of Office 97 / 2000) w/Report Manager & Analysis ToolPak installed and enabled.
(
Note: Formulas & Computations are not guaranteed in later versions of Excel)
Video Display: 800 x 600 recommended
Customer Reviews:
Good intro but that is it.......2007-08-03
This is a good intro to give the basics of valuation for "old economy" businesses. It determines the valuation of companies based almost exclusively on their cash flow over the previous few years to the analysis. Unfortunately it ignores too many issues that play an extremely important role in valuation. For example, the quality, background, knowledge of management, the products the company manufactures, the markets for these products, macroeconomic conditions, intellectual property, market position (i.e., oligopolistic? Is entry/exit difficult in the industry?). Not one of these issues is even touched upon!!! The authors seem to be implying that these issues are irrelevant!! Only the cash flow over the previous few years applied forward (i.e., discounted for present value) matters according to the book!!! Perhaps this type of mentality explains why the overwhelming majority of mergers and acquistions fail!!!!
Nothing spectacular.......2006-04-03
Unfortunately, for all the name brand that this book conveys, I think the cover seems to be the most intriguing part. There are much better ways for book peddling and the fact that a firm such as McKinsey allowed their name on the title of a book for the sake of a few sales, boggles this readers mind. The subject matter seems to be along the lines of the bull session with all bull and no session. No actual quantitative analysis is used throughout the book, and if anything more than an encyclopedic definition is learned from this book, I would be astounded. Save some money and go search online for some basic books on beginning valuation. By the way, those giving 5 stars either can't read English very well or are shills for McKinsey.
Waste of Time.......2005-04-12
Any book by Damodaran is far better for business managers and portfolio managers.
For portfolio managers, estimating the cash-flows is a small part of the valuation process, the easiest. As the financial field and practice is becoming more and more quantitative, the cutting edge of asset pricing is to estimate time-varying risk premiums. Actually, almost 90% of variation in stock prices come from risk shifts, not from news on company cash-flows.
If you are interested in asset pricing i would suggest a mix of damodaran (20%) and "Asset Pricing" by John Cochrane (80%).
Good but bad Excel support.......2004-01-29
I liked this book. In Russia it is one of the most popular books on valuatuion. But when I can get the perfect excel support for Investment Valuation by Aswath Damodaran or good web support for Valuation Methods and Shareholder Value Creation by Pablo Fernandez, I ask the authors, why don't they put supporting material in disk? I think that the price of their sowtware ($94.50) is too high compairing with the book ($56 with discount), because there is no supporting materials - only 1 spreadsheet (from my point of view does not conform to McKinsey, as the leader of consulting business). I hope, for the 4-th edition we will have a good excel support.
User-unfriendliness at its best.......2003-01-11
Hmm I wonder if those giving this book five stars actually work for McKinsey. As a practioner, I don't know anyone in the industry who has actually read this book. It looks impressive on the bookshelf, but the content is anything but impressive. A lot of topics are covered, but each one only superficially and the writing is extremely dry and boring. I actually found reading this volume *painful*, and I'm supposed to like this stuff since I do it for a living! My advice for any potential buyer is read a few chapters first before you shell out for it.
Book Description
FINANCE FOR EXECUTIVES: MANAGING FOR VALUE CREATION, 3e is ideal for the future manager or experienced executive who recognizes the importance of using financial information to maximize firm value. Respected authors Gabriel Hawawini and Claude Viallet have translated their wealth of experience into a concise, analytically sound introduction to financial management that is neither too simplistic nor too theoretical. Based on modern finance principles, the book presents the most recent financial data and latest references with a level of practicality and rigorous analysis appropriate for today's experienced executive - without complicated formulas that have no direct application to decision making. Each chapter is self-contained - providing ultimate flexibility for teaching and making the book an excellent source for reference or self-learning beyond the traditional classroom. This book is perfect for executive education, executive MBA courses, or any course where you want to translate theory into practice or use a case approach. A strong problem-scenario approach presents concepts within the context of financial management problems that executives commonly face. In addition, consistent case studies analyze the same set of companies throughout the text to provide a common thread that reinforces learning.
Customer Reviews:
Readable , practical and ..maybe the best..........2004-02-10
In my humble opinion ,this maybe one of the best books of Finance... It is practical,direct to the point,the examples are clearly stated so that you can follow the concepts and central ideas and most important : you really can understand everything in an easy way....no sweat here..
You can apply almost everything in this book to your daily practice. No matter your years of experience , FFE will refresh you and reinforce your knowledge. I always have this book on my desk for reference.
Excellent for Corporate Finance practitioners.......2000-08-08
‚Finance for Executives' is invaluable for everybody who needs to analyse companies and wants to know whether investment, financing or business decisions create value. It is written very clearly and is therefore easy to understand. It offers plenty of practically relevant examples, mostly based on one company which is being analysed in its different aspects throughout the whole book. Moreover, every chapter finishes with review problems (including solutions) and useful references. Some chapters offer appendices with mathematical proofs or additional in-depth analysis. - You will not be satisfied with this book if you are looking for a scientific, theoretical text. However, your expectations will be exceeded if you are a practitioner who wants to make an impact in a consulting or investment banking environment. - What does make this book so special? After working through it, you will be able to easily put into practice what you read.
Great overview in simple terms and easy to follow.......1999-07-30
This book is great as an introduction to the major concepts of finance. If you are looking for an advanced refernce book, this is not the one. But if you want to refresh your memory, or want a quick overview of concepts and methods, I can't think of a better book.
A readable, relevant reference for every business person........1998-09-23
Every business owner, executive, accountant, banker and maybe even your lawyer should have this valuable book on their desktop! The authors demystify the art of finance and suggest pragmatic approaches and solutions for every day capital uses and needs. This attractive and attractively priced book is written in an innovative way, making it a useful quick desktop reference as well as an MBA level finance text. The glossary by itself is worth the price of the book. How astounding that the authors are both French, yet write with more clarity in English than any American finance writer I have read of late! Vive la readability!
Exceptionally clear and up-to-date text on Corporate Finance.......1998-08-31
This is an exceptionally clear book that provides an up-to-date treatment of Corporate Finance that is accessible and practical. A must have!
Amazon.com
Sam Hill and Chris Lederer say brand-dominated business strategies will be the true road to commercial success for at least 10 more years. But when they say it, they aren't talking about today's prevailing approach, in which brands owned by a single company are combined in the manner of the Hewlett-Packard LaserJet printer. That's old news, contend Hill and Lederer, marketing veterans and partners at Helios Consulting. The next level, they say, is "brand portfolios"--actively managed collections of every brand, regardless of ownership, that intersects with another. Developing and running such systems (like those that connect Intel, Microsoft, and Dell, for example) is the subject of The Infinite Asset, a sharp and practical guide to adopting their well-considered suggestions on handling brand portfolios in the same way that financial portfolios are managed. The authors look at case studies of 3M and Miller Beer, among others, which help readers visualize the relationships that tie their brands to each other and to the outside world. They also put together an eight-part "toolkit" that covers brand extensions and repositioning, as well as an organizational design for implementing brand-portfolio management. --Howard Rothman
Book Description
Remember when brand management was as straightforward as promoting a single product or service? Today, brands mingle so much-McDonald's and Disney partner on promotional giveaways, Subaru markets an L.L. Bean edition of the Outback, Toys R Us and Amazon.com jointly launch an online toy store-a whole system of brands can make or break a product and a career. Once content to "mind their own brands," marketers need a radically different game plan to succeed in this complex marketplace.
In The Infinite Asset, Sam Hill and Chris Lederer unveil an ingenious strategy-the Brand Portfolio Approach-that exponentially increases the value of brands by exploding them beyond the boundaries of their division or even their parent company. The authors argue that a company's brand portfolio must reflect how the target customer actually views the brand; it must encompass every brand-whether the company owns it or not-that affects the buying decision.
Based on thirty years of consulting experience and extensive research across industries, the authors introduce a breakthrough 3-D mapping tool-the brand portfolio molecule-that lets managers visualize all elements of a brand and how they interact to create new value. Compelling case studies apply the model to the brand strategies of companies including 3M, Cadillac, Miller Beer, and Yahoo!. In addition, a comprehensive set of implementation tools guide marketers in using the model to:
· identify the "lead brand" in the eyes of the customer
· find and fill product holes
· decide whether to extend, prune, or reposition a brand
· arrive at the right number of brands
· determine how and when to use a corporate brand as an umbrella
· allocate marketing funds most effectively
· trace brand value using informative metrics
· convert brand equity into shareholder value and more
The first to provide a holistic model for brand value creation and management, this book is the must-have guide to leveraging every company's infinite asset for lasting competitive advantage.
Sam Hill was Chief Marketing Officer at Booz·Allen & Hamilton; he is now a partner at Helios Consulting and co-author of Radical Marketing. Chris Lederer, once a brand manager at Lever Brothers and a Senior Associate at Booz·Allen, is also a partner at Helios.
Customer Reviews:
Useful ... written by a consultant ..........2002-01-21
This book does provide a valuable summary of others works in branding. Helps to explain and clarify how many different items have a link to your brand and shape the percpetion of it in customers minds. Not a new thought, but again a good succint summary that reminded me to think through how such relationships add value or take away from the organization and brands I work for. What this book does add is a way to depcit these relationships on a 3 dimensional model. Interesting ... but I would question the value of the time and effort spent to create such a diagram. I don't think the authors would disagree with me when I say it is the thought process that makes the difference .. not the fancy depiction.
An alternative look at branding.......2001-11-07
Hill and Lederer in this book give us a very convincing argument why branding must be treated as an asset on line with products and intellectual properties. They introduce us to the "brand portfolio molecule" [BPM], which comes across as a very powerful tool to understand the relationship between not only the different brands in a company's portfolio but also to other brands outside the direct control of the company as perceived by the customer. With this information the authors move on to show how active brand portfolio management can be used to identify new growth opportunities both within the portfolio and as natural extensions.
The book is full of actual examples of good and bad practice, and it covers both established companies that turns to active brand portfolio management and newcomers, that incorporate it from the beginning.
The message in this book is not only for marketing people but also very much for the business leader, who wants to understand the power of brands and how he or she can use it to grow the company.
infinite asset.......2001-10-23
The true challenge for any business book is to be both interesting and relevant. The Infinite Asset was worth the time for me, and I think it will be for a wide range of audiences. Those managing large portfolios (and of course the consultants aspiring to help them) will like the "big idea" first section. Those managing individual brands, people trying to break into brand mgmt, and new MBAs will appreciate the second section.
Yes, it is organized more as two books in one, and often the best statement of the concept is at the end, rather than the beginning of the chapter. But it is well written (has great quotations) a fast read for the complexity of thought and experience it contains. Worth the time.
Average customer rating:
- Clear directions for moving to values centered leadership
- Tom Chappell Should Be A World Role Model
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Managing Upside Down: The Seven Intentions Of Values-Centered Leadership
Tom Chappell
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ASIN: 0688170692 |
Book Description
Tom Chappell has created one of America's most extraordinary success stories by turning a mom-and-pop natural personal care products company started on a $5,000 loan into a nationally recognized brand with $28 million and counting in sales. Chappell achieved his rapid growth and profitability by "managing upside down" --focusing on social values and respect for the environment to increase customer satisfaction and the bottom line. Now, Chappell shares his straightforward and practical business advice in seven easy-to-follow steps. They show how anyone can:
Manage for social aims and profit
Redefine leadership in a values-driven company
Develop a competitive advantage around shared values among customers, owners, employees, and communities
Businesses throughout America are already using Chappell's Seven Intentions and proving that pursuing a broader social mission can actually strengthen a company's financial performance. Managing Upside Down brings this important message to an even wider audience.
Customer Reviews:
Clear directions for moving to values centered leadership.......1999-10-12
How many CEOs do you know who are willing to spell out the personal challenges leading them from the brink of selling their company to reinventing it? This book wrestles with the paradox and conflicts of leadership in a broad review of juggling the internal conflicts between one's business, making a profit, fostering a strong family while searching for meaning; an fate facing many business executives today. How not to cave in to profit as told from a profitable leader's actual life experience. Pathfinders rejoice! In this, Tom's second book, he relates anecdotes from the mind of an original entrepreneur - how to make qualitative decisions based on values, before there are any statistics on market and consumer demand. How fortunitous circumstance plus a little friendly advice can help a company relate its products directly to its mission and core values. The book's account of the SALTWATER INSTITUTE, to develop values centered leaders, provides a real-world example of what happens when he applies his own suggested principles on "venturing out". This book does the best job yet for a busy executive who wants to grasp the underlying characteristics of great people. The discussion of "destiny" is one of the first mainstream explanations related directly to its role in the success of established businesses or new ventures. The guidlines put forth in this book may well provide the foundation for sanity others are seeking as they plunge in a breakneck dive into leadership and reinvigorating their businesses.
Tom Chappell Should Be A World Role Model.......1999-09-25
Tom Chappell not only oversees a company that makes fabulous products, but he's written a book that should be the blueprint for world business. Doing what's right, and making money in the process. Not making money at any cost. His business advice is solid, and the autobiographical elements running through the book offer a rare insight to genius.
Book Description
Leading Minds and Landmark Ideas In An Easily Accessible Format
From the preeminent thinkers whose work has defined an entire field to the rising stars who will redefine the way we think about business, The Harvard Business Review Paperback Series delivers the fundamental information today's professionals need to stay competitive in a fast-moving world.
As technology and globalization have disrupted traditional operations along the supply chain, the relationship between suppliers, customers, and competitors has changed dramatically. Examining this issue from several strategic perspectives,
Harvard Business Review on Managing the Value Chain outlines key ideas and provides guidance for incorporating shifts in the value chain into your strategic outlook. A Harvard Business Review Paperback.
Customer Reviews:
How to avoid or eliminate a "weak link".......2007-08-22
This is one in a series of several dozen volumes that comprise the Harvard Business Review Paperback Series. Each offers direct, convenient, and inexpensive access to the best thinking ("ideas with impact") about the given subject in articles originally published by the Harvard Business School Review. I strongly recommend all of the volumes in the series. The individual titles are listed at this Web site: www.hbsp.harvard.edu. The authors of various articles are among the world's most highly regarded experts on the given subject. Each volume has been carefully edited. Supplementary commentaries are also provided in most of the volumes, as is an "About the Contributors" section that usually includes suggestions of other sources that some readers may wish to explore.
In this volume, the reader is provided with eight articles whose authors provide a variety of perspectives on managing the value chain. Given when they first appeared in the HBR (1993-1998), some but remarkably little of the material is dated. Here are brief excerpts from the Executive Summaries of two articles:
"As businesses as diverse as auto manufacturing and financial services move toward modular designs, the authors say, competitive dynamics will change enormously. No longer will assemblers control the final product: suppliers of key modules will gain leverage and even take on responsibility for design rules. Companies will compete either by specifying the dominant design rules (as Microsoft does) or by producing excellent modules (as does disk drive maker Quantum does)." Managing in an Age of Modularity," Carliss Y. Baldwin and Kim B. Clark
"In today's fast-changing competitive environment, strategy is no longer a matter of positioning a fixed set of activities along that old industrial model, the value chain. Successful companies increasingly do not just add [begin italics] value [end italics], they [begin italics] reinvent [end italics], it. The key strategic task is to reconfigure roles and relationships among a constellation of actors - su0pplers, partners, customers - in order to mobilize the creation of value by new combinations of players." From Value Chain to Value Constellations: Designing Interactive Strategy, Richard Normann and Rafael Ramirez
I also want to include a brief portion of Joan Magretta's interview of Victor Fung. He later develops many of his thoughts in greater depth in a book, Competing in a Flat World, co-authored with Yoram (Jerry) Wind. Fung is Group Chairman of Li & Fung, Hong Kong's largest export trading company.
Magretta: "Can you give me an example of how you reach into the supply chain to shorten the buying cycle?"
Fung: "We come in and look at the whole supply chain. We know the Limited is going to order 100,000 garments, but we don't know the style or colors yet. The buyer will tell us that five weeks before delivery. The trust between us and our supply network means that we can reserve undyed yarn from the yarn supplier. I can lock up capacity at the mills for the weaving and dying with the promise that they'll get an order of a specified size; five weeks before delivery, we will let them know what colors we want. Then I say the same thing to the factories. `I don't know the product specs yet, but I have organized the colors and the fabric and the trim for you, and they'll be delivered to you on this date and you'll have three weeks to produce so many garments.'...It's all about flexibility, response time, small production runs, small minimum-order quantities, and the ability to shift direction as the trends move."
These brief excerpts are representative of the thrust and flavor of all of the material provided in this volume. Of course, before managing a value chain, it is first necessary to design and then establish one that is most appropriate to the given organization. For cutting-edge thinking on that, I highly recommend Enterprise Architecture as Strategy: Creating a Foundation for Business Execution by Jeanne W. Ross, Peter Weill, and David Robertson as well as Dean R. Spitzer's Transforming Performance Measurement: Rethinking the Way We Measure And Drive Organizational Success and Richard Ogle's Smart World: Breakthrough Creativity and the New Science of Ideas.
Typical professor-speak BS.......2003-07-09
I have a degree in Supply Chain Mgmt and I now work as a Supply Chain Consultant for a company in Atlanta. I picked up this book for useful tips and strategy and I was dissapointed with its contents. Its full of professor-speak BS, all the buzzwords and hip MBA slogans, but its short on anything that's practical. I would have enjoyed this book if were still a wet-behind-the-ears undergrad, real world experience makes cute catchprases and lofty anecdotes irrelevant.
Compilation of HBR Articles.......2002-11-20
Excellent stuff... its just that I didn't realize that it was a compliation of HBR articles (which I already owned).
- Modularity
- Li & Fung Hong Kong
- Chrysler Keiretsu
- Trust in Retail
- The Right Supply Chain
- Make your dealers your partners
- Value chain constellation
- Lean Production
top notch.......2000-11-11
Once again, HBR has produced an accessible book that highlights the forefront of ideas of the value chain. The best part of books in this series is that you don't have to commit to reading the whole book at one time. You can pick up the book when you have time and read a whole case and feel like you are still able to add to you strategy knowledge.
Harvard Business Review on Managing the Value Chain.......2000-08-04
Excellent cases.If you are an operations professional, you'll study, learn and live by whats discussed here. There are a couple of examples that seem dated here, but that is to get the fundamentals right and I dont complain! I am a believer in HBR and this one again goes on to prove why.
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