Why ValueBased Management Goes Wrong
Managing For Value
Simon CourtValue Partnership Matt DaviesATCandPaul NewCompete to Win
The drive to put the interest of shareholders at the top of the corporate agenda results from two main factors. First, it is a response to 'conglomeratitus', the decadesold diversification disease that for many companies has achieved little other than topline growth; and second, it has been championed by an institutional investment community that has become much less tolerant of mediocre performance and much more willing to apply pressure to have management replaced whenever it deems performance to...