Valuation maximizing corporate value phần 1 pps

[...]... Objectives 10 8 Develop Strategies 11 3 Select Value -Maximizing Strategies 11 9 Summary 12 8 Endnotes 12 8 CHAPTER 6 Evaluate Alternative Approaches Review the Selected Strategies Understand the Methodology 12 9 13 0 13 1 Contents Quantify the Selected Strategies Calculate Revised Case Value Measure Value Enhancement Summary 15 4 CHAPTER 7 Execute for Value xiii 13 4 14 4 15 0 15 7 Create Action Plans 15 8 Plan Implementation... CHAPTER 1 Conduct Strategic Audit Highlight Existing Strengths Identify Implicit Strategies Plot Growth Performance Analyze Profitability Ratios Determine Relative Value Summary 20 Endnotes 20 1 2 9 13 16 18 CHAPTER 2 Calculate Current Value Discover Importance of Value 23 Master Discounted Cash Flow 30 Understand Value Drivers 35 Determine Cost of Capital 40 Calculate Current Organization Value Summary... Create Action Plans 15 8 Plan Implementation 17 0 Embrace Change 17 7 Execute the Framework 18 7 Summary 18 8 Endnotes 19 0 Epilogue 19 1 Index 19 3 preface his book is the result of years of experience in assisting middle-market manufacturing and service entities, as well as various not-for-profit organizations, in refining and applying top-management strategy and valuation techniques used by large corporations... 43 xi CONTENTS xii CHAPTER 3 Assess Strategic Landscape 51 Review Planning Fundamentals 52 Identify Stakeholders 57 Gather Additional Information 61 Define Factors for Success 69 Identify Barriers to Success 73 Summary 73 Endnotes 74 CHAPTER 4 Build Framework Foundation 75 Review Framework Relevance 76 Discover the Process 77 Lay the Foundation 81 Determine Niche Positions and Goals Evaluate Mission,... organization’s current condition and its potential Chapter 1 focuses on conducting a strategic audit The exercises enable the participants to develop an understanding of the implicit strategies that have taken the organization to the place where it is today Chapter 2 presents a methodology to calculate the current value of the organization The valuation variables involved require five years of financial... and recruiting, quality circles, corporation finance, and other areas in which clients have had to seek external assistance in order to execute properly and effectively their framework to obtain corporate value enhancement has been invaluable In summary, I would like to thank all the people who helped create this book I owe a great deal to my family for their support and to all the staff at John Wiley... by a chapter), the organization will have a shared set of values and purposes and a common language to use in discussing future plans More importantly, it will have an overall sense of urgency to achieve key objectives and take specific actions to change the culture so that each and every employee is focused on cash flow optimization CHAPTER 1 Conduct Strategic Audit f you don’t know where you’ve been,... use of computer spreadsheets and other analytical tools so simple, complete, and foolproof These programs allow employees not only to understand and contribute to the maximization of the organization’s value, but also to apply easily the same principles to their family situations and to increase their personal wealth and happiness Creating the framework is only part of any organization’s success story... organization The valuation variables involved require five years of financial statements However, younger or start-up organizations can develop estimates for the variables and also calculate a current value Chapter 3 helps the management team characterize the organization’s strategic landscape It reviews the fundamentals of planning and conducting research It introduces the concept of stakeholders as... framework and helps cre- Preface xvii ate a common language the management team can use throughout the remaining steps It presents exercises and techniques that enable an organization to define its vision, values, goals, and niches which, in turn, provide a solid foundation for the rest of the steps Chapter 5 involves the creation of specific objectives and strategies that, when taken collectively, more . Objectives 10 8 Develop Strategies 11 3 Select Value -Maximizing Strategies 11 9 Summary 12 8 Endnotes 12 8 CHAPTER 6 Evaluate Alternative Approaches 12 9 Review the Selected Strategies 13 0 Understand. Methodology 13 1 xii CONTENTS Quantify the Selected Strategies 13 4 Calculate Revised Case Value 14 4 Measure Value Enhancement 15 0 Summary 15 4 CHAPTER 7 Execute for Value 15 7 Create Action Plans 15 8 Plan. Value 15 7 Create Action Plans 15 8 Plan Implementation 17 0 Embrace Change 17 7 Execute the Framework 18 7 Summary 18 8 Endnotes 19 0 Epilogue 19 1 Index 19 3 Contents xiii xv preface T his book is the result