Chapter 9. Putting Shareholder Value in the Right Perspective
Derek F. Abell
The 20th century closed with more questions than answers about a wide array of business challenges and ways in which leaders could meet them. On one issue, however, there seems to be a widespread and even growing consensus: The central purpose of enterprise is to create value for its shareholders. And certainly, recent history has clearly demonstrated that increasing attention to shareholder value has allowed many companies to perform better. Recognition of what is essential to the achievement of sustainable long-term growth in cash flows has resulted in more weight being put behind these “value drivers” and, in turn, the creation of more performance-oriented cultures ...
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