Rent 9780470596302 | The CEO, Strategy, and Shareholder Value Making the Choices That Maximize Company Performance

Summary Table of Contents Author Biography

Praise for The CEO, strategy, and Shareholder Value"Peter Kontes presents a clear-eyed framework for making the top management decisions that have a large and lasting impact on company performance. If your schedule only allows you time to read a few books a year, this should be one of them."-James E. (Jes) Staley, CEO, JP Morgan Investment Bank"This is a first-class book that can make a difference in achieving results."-Jim Kilts, former chairman and CEO, The Gillette Company"Peter Kontes has written a masterful and eminently readable book that... MORE makes clear the real work of?the CEO. He debunks much of the voodoo that surrounds trendy management and performance concepts. It's a must-read for all who are?charged with leadership in these turbulent times."-Arthur Martinez, former chairman and CEO, Sears, Roebuck and Company"The marriage of theories on leadership, strategy, and finance is long overdue.? In this book, Kontes brings these themes together around the principle that growing economic profit over time is, or should be, the common overriding objective of all three.? He cogently argues and amply illustrates the pitfalls of conventional business practices across many areas, including target setting, competitive positioning, and capital management.? Executives who take the time to read this book will come away with a wealth of ideas for changing these practices and significantly improving the performance of their companies."-Stan Garstka, Deputy Dean and Professor in the Practice of Management, Yale School of Management

Business leaders have experienced some of the greatest economic upheavals in history, forcing many to reconsider how to lead their companies. The CEO, Strategy, and Shareholder Value reveals the five major choices every leader faces, including performance objectives, participation choices, positioning choices, organizational choices, and risk management choices. This seminal book from a true thought leader offers business managers an innovative, new look at how to most effectively deliver shareholder value.

A new look at delivering effective shareholder value from Peter Kontes, a true leader in the world of strategic management

In The CEO, Strategy, and Shareholder Value, Peter Kontes, a true leader in the strategic management field, outlines the key to creating and growing shareholder value. The proper focus, contends Kontes, is in using quantitative measurements as guideposts on the path to success. The book first outlines the basics of the argument Kontes is making. He then briefly covers the five most important areas for business leaders, followed by a more detailed look at each of the focus areas. Finally, Kontes provides readers with a road map to implementing his suggestions.

Presents an argument for a more holistic approach to delivering shareholder value
Defines and then elaborates a new approach to strategic management
Written by a true thought leader in the field, regularly featured in publications such as Fortune and BusinessWeek

Never before have business leaders experienced the kind of tough decisions they are being forced to make as the economy undergoes incredibly rapid shifts. The common sense guide to successful leadership, The CEO, Strategy, and Shareholder Value delivers exactly the kind of solid, dynamic advice that will keep your organization moving on an upward path.

Preface	p. xi
Acknowledgments	p. xv
Introduction	p. xvii
Foundations	p. 1
The Purpose of Strategy	p. 2
The Role of the CEO	p. 4
Five Choices That Shape Strategy	p. 6
A Strategic Management Framework	p. 9
The Economics of Strategic Management	p. 11
Economic Profit	p. 11
Economic Profit... MORE and Strategy Valuation	p. 13
The Financial Drivers of Economic Profit and Equity Value	p. 15
The Strategic Drivers of Economic Profit and Equity Value	p. 17
Dealing with Mythology	p. 23
Chapter Summary	p. 29
Choosing the Right Performance Objectives	p. 31
Aspirations	p. 32
Business Unit Objectives	p. 34
Company Objectives	p. 39
The Tyranny of Top-Down Targets	p. 39
Chapter Summary	p. 46
Making the Right Participation Choices	p. 49
General Considerations	p. 50
Assessing Participation Opportunities	p. 51
Offering Choices	p. 63
Geographic Market Choices	p. 67
Customer Segment Choices	p. 72
Corporate Participation Choices	p. 75
Chapter Summary	p. 82
Making the Right Positioning Choices	p. 85
Positioning Choices and Competitive Advantage	p. 86
Business Models	p. 88
Execution Capabilities	p. 107
Corporate Positioning Choices	p. 111
Chapter Summary	p. 122
Making the Right Organizational Choices	p. 125
The Institutional Imperative	p. 126
Governance Practices	p. 128
Executive Processes	p. 134
Executive Capabilities	p. 151
Chapter Summary	p. 155
Making the Right Risk Management Choices	p. 157
Clarifying "Risk"	p. 158
Setting Risk Thresholds	p. 160
Portfolio Choices	p. 162
Balance Sheet Choices	p. 166
Ethical Choices	p. 174
Chapter Summary	p. 181
Making It Work	p. 183
Conditions Conducive to Success	p. 183
Priorities for Change	p. 189
The Prize	p. 195
Chapter Summary	p. 198
Economic Profit Growth, Earnings Growth, and Total Shareholder Returns	p. 201
The Data	p. 201
The Analysis	p. 202
Discussion of the Results	p. 204
Economic Profit and Equity Value	p. 207
Valuation Models	p. 207
Maximizing Economic Profit Growth versus Maximizing Equity Value	p. 209
Valuation issues	p. 210
Economic Profit and Equity Value: Illustration	p. 213
Reconsidering the Corporate Center	p. 215
The Need for Change	p. 215
Creating a New Model of the Center	p. 217
Conclusion	p. 221
Ceo Pay Practices: An Alternative	p. 223
Typical Package	p. 224
An Alternative Approach	p. 224
Illustrative Compensation Plan	p. 226
Alerting The Board Early and Often	p. 229
Notes	p. 231
Index	p. 239
Table of Contents provided by Ingram. All Rights Reserved.

PETER KONTES has a long and distinguished career advising chief executives on all aspects of strategic management. Peter was the cofounder and former chief executive of Marakon Associates, a firm cited by Fortune magazine as "among the half dozen firms that form the elite of strategy consulting." He co-authored a previous book, The Value Imperative. He has been a guest speaker at conferences sponsored by the Economist, Fortune, the London School of Economics, and the World Economic Forum, and has had articles appear in a number of publications including the Financial Times and Directors & Boards. He is currently an Executive-in-Residence at the Yale University Graduate School of Management and continues consulting independently.

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