Value Leadership: The 7 Principles that Drive Corporate Value in Any Economy
In Value Leadership, renowned management and investment expert Peter Cohan — whose 2002 stock picks gained 81percent when the S&P 500 plunged 24 percent— provides a new and powerful concept of sustainable corporate value. Using his expertise in understanding shareholder value, Cohan offers executives seven management principles that were tested in periods of economic expansion and contraction. These principles are: valuing human relationships, fostering teamwork, experimenting frugally, fulfilling your commitments, fighting complacency, winning through multiple means, and giving to your community. Cohan illustrates these principles by drawing on examples from eight Value Leaders— Synopsys, WalMart, Goldman Sachs, MBNA, Johnson & Johnson, J. M. Smucker, Southwest Airlines, and Microsoft. Through two recessions, these companies grew 35 percent faster, were 109 percent more profitable, and generated five times more shareholder wealth than their peers.
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1 Where Do You Stand? Start with the Value Quotient
2 People Matter Value Human Relationships
3 Two Heads Are Better Than One Foster Teamwork
4 Growth Matters Experiment Frugally
5 Trust Is Vital Fulfill Your Commitments
6 Success Can Breed Failure Fight Complacency
7 Profit Is Vital Win Through Multiple Means
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ability According accounting achieve activities assess benefits big societal problems candidates cash challenge chapter Commit to core company’s competitors core values corporate costs create credo criteria customer service drug earnings growth economic effective Evaluation example Executives seeking Experiment frugally Fight complacency Foster teamwork frugal experimentation Fulfill your commitments Geus giving goals Goldman Sachs healthy paranoia Herb Kelleher identify improve industry initiatives interviews investment investors J. C. Penney job rotation Johnson & Johnson junk-bond Kaizen Kmart Manage development risk market share MBNA MBNA’s ment Merrill Lynch Microsoft million multiple means needs operations organization pany Partner externally Penney’s percent potential profit reporting retailing return on equity revenue scores Smucker Southwest Airlines specific stock price strategy success suppliers sustain Synopsys tactics tomers Value human relationships Value Leaders Value Leadership Value Quotient Wal-Mart Weighted total sum Win through multiple WorldCom