An action-driven approach to assessing, creating, and protecting value
"The timing for publication of Eleanor Bloxham's Economic Value Management is providential. We are assailed by the reality that the board of directors of leading companies have approved, no, have directed, accounting practices that inflate the reported earnings but that lack economic substance. Audit firms in search of personal wealth have been selling 'earnings' from their consulting division to their full client list. This volume is uniquely couched to restore integrity to the financial understanding of corporate functioning. If you want-and you should-to start getting American business back on the right track, you should read this book."-Robert A. G. Monks, Publisher of www.ragm.com and several books about corporate governance
"Educated investors are essential to successfully functioning capital markets. At this critical time in our financial history, restoring the confidence in our financial system lost over the past year will depend upon financial advisors and investors truly understanding the companies they invest in. As Economic Value Management shows, being educated means more than understanding the unique language of the stock market, it is more than reading a prospectus or an annual report, it is more than listening to an analyst's opinions. Being educated requires a genuine understanding of the value of a company."- Mary L. Schapiro, Vice Chairman, President, Regulatory Policy and Oversight, NASD (National Association of Securities Dealers)
"Economic Value Management would have limited much of the economic turmoil we have experienced in the last eighteen months. It is the way a company should be managed."- John McCoy, Chairman of Battelle Memorial Institute, retired Chairman and CEO of Bank One Corporation
"Nothing could be more appropriate and needed at this time in history than understanding how decisions affect corporate economic value. Eleanor Bloxham's exploration of this issue is clear, easy to follow, and thorough in its breadth. Had corporate officers used economic value management techniques throughout their organizations and investors focused on such issues, there would have been much greater rationality in the stock market with much less eventual bloodletting. Indeed, in the aftermath of recent disclosures, the focus on Economic Value Management metrics should increase substantially, and this book provides a solid foundation for understanding such an approach."-Joseph A. Alutto, Dean and John W. Berry Sr., Chair in Business, Fisher College of Business, The Ohio State University
"A good read for managers who want to see the horizon as well as a foot in front of them." -- Working Knowledge, Harvard Business School
?In an era when EPS has been redefined as ?expecting prison sentence,? Eleanor Bloxham?s call for back-to-value-basics is a breath of fresh air. Any CEO, director or investor who wants to get a handle on the real numbers that show how companies perform should grab a hold of Economic Value Management. Viva EVM!?--Patrick McGurn, Vice President & Special Counsel, Institutional Shareholder Services
?Bloxham has a clear, common-sense, practical approach that provides welcome guidance to managers and directors on how to measure, create, and reward value. She avoids the usual jargon with sharply drawn examples and illuminating illustrations and the result is well worth reading.?--Nell Minow Editor, The Corporate Library and Coauthor of several books including Corporate Governance
"The author has given her "all" ? rigorous scholarship, systematic thinking, and first-hand cases ? and the result is an authoritative guide for corporate leaders who want to break out of financial ratio boxes to build sustainable value."--Alexandra R. Lajoux, Editor in Chief of Director's Monthly, and Coauthor (with J. Fred Weston) of The Art of M&A: Financing and Refinancing
"As a guide to the big dig this book is invaluable. Economic Value Management requires sustainable improvement in multiple dimensions and this book, replete with real-life examples and richly illustrated by charts, tables and other exhibits, shows us exactly how to make this happen."--Thomas R. Horton, former CEO,American Management Association
"Nothing could be more appropriate and needed at this time in history than understanding how decisions affect corporate economic value. Eleanor Bloxham's exploration of this issue is clear, easy to follow, and thorough in its breadth. Had corporate officers used economic value management techniques throughout their organizations, and investors focused on such issues, there would have been much greater rationality in the stock market with much less eventual "blood letting." Indeed, in the aftermath of recent disclosures, the focus on economic value management metrics should increase substantially, and this book provides a solid foundation for understanding such an approach."--Joseph A. Alutto Dean and John W. Berry, Sr. Chair in Business Fisher College of Business, The Ohio State University
List of Exhibits.
PART ONE: What Is Economic Value Management and How Does It Relate to Organizations Today?
CHAPTER 1: WHAT IS ECONOMIC VALUE MANAGEMENT?
CHAPTER 2: The Value Management Wheel.
CHAPTER 3: The Performance Measurement and Management Context.
CHAPTER 4: Economic Value Management: The Measurement and Management Impacts.
CHAPTER 5: Economic Value Management: Demonstrating and Assessing Value Measurement Approaches.
PART TWO: Applications and Techniques.
CHAPTER 6: Has Value Been Created? How Much?
CHAPTER 7: Evaluations of the Past to Strengthen the Future: Peers and Sectors.
CHAPTER 8: Placing Detailed Evaluations in Context: Product, Service, Distribution Channel, and Process.
CHAPTER 9: The Customer, Value Drivers, and Changes over Time.
CHAPTER 10: Creating Value in the Future.