Economic-value-added Books

Well...

27 positive reviews convinced me to buy this book. Unfortunately I did not found anything new, nor interesting, nor inspiring.

Sorry to say but waste of time and money.

In today's atmosphere to do more, with less, faster, with better quality, this book was a true insight into making an organization leaner.

For the past year we have been focused on the Kaizen approach to process improvement; that is the focus on the outside consulting firm that we chose several years ago. Sustaining change, measurement, and ownership of improvements might actually be regressing. While not giving a roadmap to success, this text affirms the missteps that we are experiencing and it has motivated me to take a broader, less event-focused approach. This would not be a strong text for the professional consultant, but for the leader attempting to assimilate change in a corporate culture and for someone who's been standing on the roadside with their 'lean' thumb out and wondering why no one will stop this provides a good review and simple checklist approach. My outside consultants will regret that I read this book.

Allthough the book is fairly short and a fast read in that I think it makes great job in really explaining the thinking behind lean. There are practically no focus on specific application of tools. And that is not a bad thing. Lean suffers from too tool based approach and I think that this book should be on a reading list before tool specific books (not saying that they don't have their place also).

I recommend this book for anyone considering Lean. I am buying it for all department directors. It gives the good and the bad, not just the good. I believe it will help people avoid making mistakes if they decide Lean is for them. A good overview of what to expect and gives examples average readers can understand. Highly recommended.

I bought this book with not much idea of what it has got for me.
As a went through some of the initial chapters I really got interested.The book has numerous examples and case studies. This really helps in understanding the concept and driving an analogy to actual life scenarios.
I strongly recommend reading this book.
Thanks.

Thank you very much for sending me a copy of The Smart Organization. I have completed only two chapters, but find the book to be thoroughly engaging. Especially, the six dimensions of decision quality.

My current job is proving to be a daily "case study." The ideas contained in the book have come to life, helping me to better understand my environment at work and make better decisions along the journey.

Frequently organizations face the challange of what not to do. They tend to believe in the person presenting the idea, rather then creating a rigorous process for evaluating the options before them. Companies adopting best practices in managing their investment options realize substantial gains in their long term bottem line. This book quantifies this performance difference, and what the best practices are across a range of industries.

Why aren't organizations more rigorous in selecting projects? The book outlines several barriers which are extremely relevent:

· It will make a popular champion look bad,

· Organizational resistance to change, or cannibalization of an existing business for a new opportunity,

· We confuse the urgent with the important,

· Its hard to agree on measures and success criteria

· People are afraid of making the wrong prediction, so they don't make any,

· Its hard to normalize results from different contributors,

· Business plans are not integrated with new project activity,

· Power and politics, a methodical evaluation leaves no room for interpretation and "behind the scenes" trade offs between groups and individuals,

· Lack of strategy.

The best practices outlined in this book are backed by substantial research. I would have like to have seen a few additional chapters on application of best practices in real companies ... a case study of a turn around.

The Strategic Decisions Group framework for smart organisation is informative. One reason for this is that the authors are reporting a practical benchmark study of R&D which appears to include every American corporate I've ever heard of. They do readers the great favour of synthesising this into a 9 principle framework for Smart Organisation. 3 principles for achieving purpose: -continual learning -value creation culture -creating alternatives 3 principles for mobilizing resources: -open inforamtion flow -disciplined decision making -alignment and empowerment 3 principles for understaning environment: -systems thinking -embracing uncertainty -outside-in strategic perspective What I especially like is that for each principle 5 How do you knows? are given scaling the difference between an organisation which hasn't got a clue about the principle (not smart) to one that lives it (smart org) For example these are the 5 how-you-knows of alignment & empowerment: 1 Examine the strategies at different levels (eg technology strategy to portfolio strategy to project startegy). In smart org: there are clear strategies at all levels taht provide useful guidance for decision making. Strategies at one level are clearly linked to the next. Lower level strategies interpret and carry out the implementation of higher-level strategies. In not-smart: few strategies or they provide little guidance for decision-making. They are viewed cynically as corporate PR. Links among strategies are absent, unclear or ambiguous 2 Examine the value measures used to evaluate decisions at different levels. In smart org: there are clear measures of value at all levels. Value measures at one strategic level are clearly linked through the strategy to measures at the next level. In non-smart: There may be no value measures. If there are, each level sets its own values or decision criteria, with no special requirement that they be related to values and strategies at other levels. 3 Examine the approvals required to make or carry out important decisions. In smart org: Decisions require few approvals because people understand the strategy and are trusted to carry it out. Meetings with upper management are viewed as adding value. In not-smart: Decisions require many levels of approval. Review meetings are perceived as wasting time. Often meetings with upper management are feared because it may redirect efforts and change priorities without clear reason. Upper management often feels overloaded with the need to check on subordinates. 4 Examine the roles of people involved in an important recent decision. In smart orgs: Many people participated in the decision process,at multiple levels in the organisation. A dialogue was carried out in the process that continually aligned and refined the vertical links. Management at different levels collaborated to build a high quality decision and achieved aligned commitment to action. In non-smart: Either few people participated in the decision or so many did that the process got bogged down. Typically, lower level employees make proposals to upper levels for approval or rejection 5 Examine a recent decision that was controversial. In smart org: People unified around the decisions aand carried it out with little intervention. They understood the reasons for the decision and believe the organisation is carrying out a sensible strategy for creating value. In non-smart: The decision did not stick and was undone or remade over and over again. 100+ of us are discussing frameworks like these in a free e-mail group : Organising Creativity Network. e-mail me, Chris Macrae, at wcbn007@easynet.co.uk if you are passionately interested.

Focusing on large R&D intensive organizations, this book explores nine key principles that make these enterprises effective, such as: open information flow, systems thinking, and continual learning. The author's emphasize the decision making process as a means of changing and improving overall organizational performance. If you are seeking new insights into how strategy is developed, excellence can be achieved in decision making, and organization renewal can be realized, you will find this book enlightening and fascinating reading. The insights offered here are by no means limited to high-technology firms; they apply to any organization seeking to be successful in today's fast-paced markets. This work includes an organizational IQ test (a diagnostic tool) for identifying root causes of the barriers to improving decision processes. There is an impressive amount of knowledge about organization to be gleaned in The Smart Company. Whether you are a technology -based bus! iness or not, you will find many nuggets in this work. We highly recommend it.

A friend of mine recommended this book to be, but when I first saw the title of the book I wasn't sure what it was going to
be about. It seemed a bit intimidating. However, the book is very easy to read, has incredible insights and having read it, I now can certainly understand why the book was named a late addition candidate to "ONE OF THE BEST BOOKS of 2002" and a CEO "RECOMMENDED READ" by CEO refresher, an independent editorial board recognized by the Harvard Business School and
the Wall Street Journal. I think it is one of the best books on business I've ever read.

I'm on my second reading of this book and as I go through it I'm revising my business unit's plans for the coming fiscal year. As Bloxham points out, change is a difficult process, but worth it, so I'm sure I'll be referring to this book for years to come.

A friend of mine highly recommended this book to be, but when I first saw the title of the book I wasn't sure what it was going to be about. It seemed a bit intimidating. However, the book is very easy to read, has incredible insights and having read it, I now can certainly understand why the book was named a late addition candidate to "ONE OF THE BEST BOOKS of 2002" and a CEO "RECOMMENDED READ" by CEO refresher, an independent editorial board recognized by the Harvard Business School and
the Wall Street Journal. I think it is one of the best books on business I've ever read.

I'm on my second reading of this book and as I go through it I'm revising my business unit's plans for the coming fiscal year. As Bloxham points out, change is a difficult process, but worth it, so I'm sure I'll be referring to this book for years to come.

When practitioners, who have actually rolled up their sleeves and implemented, write a book, it is usually a good read. In Eleanor Bloxham's case, this is a great read.

There is so much confusion about what operational and strategic levers an organization should push or pull to create rather than destroy shareholder wealth. Most articles slip into gross platitudes and sloganeering and sidestep the "how to." Bloxham's book dives in but explains adnmittedly complex interelationships in a way you can understand them. She does a fine job integrating the component tools, like the balanced scorecard and activity based costing, into economic value management.

Some day boards of directors may find this to be the standard book for assisting their shareholders make, not lose, money.

This book is a winner! It emphasizes stewardship of resources, and explains in detail with excellent examples, how to implement a new way of thinking about responsibility. The book is an enjoyable read and packed with suggestions for action.

Corporate senior executives are subjected to pressure for performance from many constituents - shareholders, customers, employees, governmental and regulatory authorities, rating agencies, board members, and securities analysts. And, since these are by definition high achieving individuals, some of the greatest pressure is from within. The existence of many constituents, many with conflicting objectives, often makes it very difficult for CEO's, CFO's and board members to focus on key performance goals and metrics. Over the course of my 34 year career as a corporate banker, I've seen many confused executives, pressured for EPS growth, revenue growth, ROE, but not necessarily understanding the long run impact of any or all of these performance metrics.

Ms. Bloxham has produced a superb book that takes a "holistic" view of the process of identifying performance criteria for senior executives, and not just for those in the private sector. She and I share common views about the benefits of economic value added metrics, but she has gone well beyond this to address many of the conflicts for performance faced by executives. She provides an excellent framework for establishing a set of logical goals and performance metrics for managing complex businesses and non-profit organizations.

Its not often a book comes along that not only is a pleasure to read but actually gives sound advice that can be understood and readily implemented 'straight from the page'! Tim O'Hanlon has provided such a text for those of us involved in ISO 9001:2000 audits. The practical approach that brings auditing into the realm of business reality makes this an immmensely useful read. Its on my compulsory reading list for clients who want to revamp their auditing process so as to realise the value-adding potential of audits. My advice -- buy it, read it then use the knowledge to improve your processes!

I was given the job of planning the transition of our existing system to ISO 9001:2000 and someone said "Read Tim O'Hanlon's book". I did and I am so pleased. I got much more than I bargained for. When I saw the title I thought it was not what I needed but I was wrong..it was the only thing I needed. This guy really knows what he is going on about.

For years I just did not get the point of auditors. I thought they were like police officers trying to find the culprits. This book makes it clear, their role is to add value and what's more, this book tells you how they should do it. Dr. O'Hanlon has opended the door for effective audits.

This book offers a fresh approach for auditors. I like that O'Hanlon is saying 'hey make your audit worthwhile for your company. Don't be afraid of the auditor.'

Nice diagrams are included and book is easy to understand.

This book is a breath of fresh air in an area made stuffy by boring quality books that make no sense unless you already know your stuff and if you did you wouldn't buy the book in the first place!
Dr. O'Hanlon seems to realise this and explains everything using easy to understand terms and useful diagrams. I heartily recommend purchasing this book...it certainly provided me with an interesting perspective of the auditing system!

This is a book that every bank board member should read. Sure, any board member worth his/her salt will be familiar with Basel II and risk measures such as VaR, but how many think of Basel II as a cost or imposition, and VaR as just another piece of information? Mr Belmont's easy to follow approach should allow readers to examine the way in which they can differentiate their own institution by using the investment in regulatory risk management to create, rather than just protect,shareholder value.

Thankfully, Mr Belmont strikes a good balance between theory and reality, both in his explanantion of market behaviour and in the presentation of his arguments. This is a book that the "mathematically challenged" like me can still enjoy and benfit from.

Even without the incentives provided by the upcoming Basel 2 guidelines, this book is timely and convincingly puts forth the proposition that active risk management is in itself a valuable component in the creation of shareholder value. Returns on investment in more sophisticated tools for risk quantification will be enhanced when the information is not only used for performance measurement, but also for such shareholder value-added activities such as capital allocation and balance sheet structuring.

I recommend this book for all practitioners of risk management.

This book is a gem - very timely and well-thought out. David Belmont obviously has a lot of experience in this area, but also has put in a lot of thought-leadership into this book. He traces the Basel II accord to its roots in M&M economics, and convincingly argues why bank risk management is a critical function. He then traces a thread from risk management to capital management and shows why and how banks can make use of Basel implementations to achieve a high degree of control and positioning of their operations.
The only knock on this book is that I found several typos and simple editing errors - it is clear that deadlines won over editorial quality. Hopefully the next edition will be cleared up in this regard - nevertheless I highly recommend this book.

Belmont has done an exceptional job at communicating the importance and practical application of risk measures for today's business environment. The book offers the reader a thorough assessment of what banking executives face everyday and how best to manage these risk and regain the control necessary for any banking executive to grow its business without putting into jeopardy the best interest of its shareholders, which in no small measure is a testament to Belmont's clear understanding of the challenges faced by most executives and the demands they face in terms of managing near term performance goals with long term stability.

Given the dual pressures banks face from regulators and investors to address the challenges of Basle 2 and create shareholder value, this book is highly relevant and timely. It provides practical, concise and real world guidance to any senior bank executive seeking to add value in his institution by optimizing the usage of economic capital. Economic capital based performance measures are clearly presented and illustrated with real life examples. Additionally, anyone implementing Basle 2 must ask how this can be done and what value it creates for the organization. This book provides the answers.

The book quickly gives a real world context the value of risk management information to bank CEOs, CFOs, institutional security analysts, and investors. It then goes on to demonstrate theoretically and practically how risk management information can be used to address key strategic decisions faced by senior bank management.

Any risk manager, CFO, or CEO in a financial institution should find this book valuable if they seek to create shareholder value in their institution. Similarly, anyone seeking to rise to the executive suite must understand the issues addressed in this well written book.

The book is easy reading and gets to the core of the complicated topic of business Ethics. Many examples are given where total business failures resulted, due to intentional or accidental disregard of conflicting issues regarding business ethics. The book should be required reading for students as well as business professionals and would be a useful pocket reference, especially where ethical issues are not clear.

The book is easy reading and gets to the core of the complicated topic of business Ethics. Many examples are given where total business failures resulted, due to intentional or accidental disregard of conflicting issues regarding business ethics.

The book should be required reading for students as well as business professionals and would be a useful pocket reference, especially where ethical issues are not clear.

As a portfolio manager with a major NYC investment firm, it was refreshing to see Professor Grant drill down to the core concepts of EVA and its impact on market pricing. Everyone acknowledges that Stern Stewart has pushed EVA thinking forward in the corporate world but Professor Grant takes it further and shows how EVA gets priced into securities on a day-to-day basis.

I took a few courses with Professor Grant at the University of Massachusetts Boston, where this was one of the required texts. I must say his courses and his texts has turned out to be most valuable and useful during my final years as a student of undergraduate finance. All of his texts were reader-friendly and insightful.
Dr. Grant uses active companies in the stock market (GE, Dell, IBM) and their historical data to determine whether they are creating or destroying wealth for their shareholders and bondholders using value-based metrics like eva.
His calculations in this book were especially easy to follow and understand - students of finance can relate with me if you have read some of those cryptic finance texts.
I would highly recommend Dr. Grant's text to all students. And if you are a UMass Boston student, you should take his course.

I read this book cover to cover in 2 days. It's one of those few business books that provide a comprehensive overview of the subject while keeping the reader engaged and entertained.

It's a great read for those anyone interested in the role of Brands in business and society. Beware though, it's not an academic work, and it's not a "how to" recipe book.

THE LEAN PRIMER fills a void in the plethera of Lean books in the market. The simple explanation of Lean tools, as well as the actual plant examples, allow you to see these tools in action. What I really like about this book is the photos from shops that you can tell are in the midst of implementing Lean. No staged photos here in this book! Great job in making the bridge from all the other books on the tools and concepts to actual demonstrating it through examples.

The structure of this book and the importance of the European Union ("EU") in world trade mean that the book has a wide audience. Non-EU advisers and anyone involved in tax planning for multinationals will find it fascinating to explore the issues that arise in a mature VAT system. The book will give them profitable ideas to explore with their clients in their own context. Ogley does not pretend to have provided the definitive work on VAT. What he does do very successfully is combine theory with practical application in an examination of the operation of the VAT across the European Union. This book provides a very readable guide to VAT principles for anyone not intimately involved in European VAT practise.

The first chapter provides a clear overview of the general structure and operation of a VAT system. The second chapter briefly sketches how VAT fits within the EU framework. Ogley has eschewed a detailed analysis in these chapters. Yet he has managed to provide enough information for a reader new to the VAT or the operation of the EU to follow the more complex analysis in later chapters. The explanations are simple without being simplistic.

Chapters three and four go to the nub of the European VAT and describe the structure of the tax and the general treatment of goods, services and exemptions. Ogley explains the key provisions of the VAT law using well-chosen extracts from European case law. This serves the dual purpose of clarifying the meaning of the law, and giving an insight into how the courts interpret it. The law is a living thing. It is only through understanding how and why judges reach the decisions that they do, that advisers can predict the official treatment of their own plans, should they come under the microscope.

To a reader from a new VAT jurisdiction, it is fascinating to find a comprehensive jurisprudence on terms such as consideration and the treatment of discounts, where the same concepts at home wait to be tested. The author had to be selective in his subject matter and does not explore the issues in great detail. Some items, for example promotions, are covered in greater depth than others. That is always going to be the shortcoming of an overview of this kind. The important thing is that readers' interest is piqued and they are given enough information to know what topics they wish to pursue.

Chapters five and six deal with the vexed issues of financial services and property and related supplies. They are chosen as the exemptions that present the most complex technical problems. As a result, they are of most interest to readers. The treatment of financial services explains the basic problem of taxing the value added on financial transactions, and trying to determine what that value is. It identifies the consequent compliance and other problems that make the exemption an important area for tax planning. The chapter on property and related supplies explores the five principles that underlie the EU VAT treatment and how they have been implemented through the sixth directive. A discussion of the application of anti-avoidance provisions is of particular interest.

Chapters seven and eight cover the transitional regime and the definitive system. The transitional regime was introduced on 1 January 1993 in conjunction with the abolition of border controls. It effectively maintains a destination system of taxation, except for individuals, whose purchases for private consumption are usually subject to VAT in the Member State of origin. The complex provisions provide a fascinating example of the difficulties in applying a common tax, while retaining fiscal sovereignty. The operation of the regime provides some useful analogies for the prospective taxation of international electronic commerce, particularly the introduction of an automatic collection system. Ogley does not discuss this issue, but his observations on the transitional regime, particularly the treatment of telecommunications, are remarkably relevant to it. The discussion of the Simplification Directives gives very clear examples of the problems the EU still faces with its VAT.

The chapter on the definitive system describes the effort to move towards some form of harmonisation. It notes the difficulties faced by each new proposal and sets out the current position of the European Commission. The Commission's focus seems to be on getting the institutional and administrative structures in place before trying to implement a definitive VAT system.

Chapter nine provides a refreshingly clear outline of the principles of VAT planning. The chapter does not look in detail at specific planning arrangements. It concentrates on the basic principles that any planning arrangement must take into account. The principles are illustrated with practical examples. It provides an overview that all but a current VAT specialist would find useful.

Chapter ten will be of particular interest to those concerned with the US and proposals for the reform of the US sales tax system. It discusses subtraction VAT (calculated by reference to an entity's accounts on an aggregate basis, rather than on each transaction) and US Tax Reform. Chapter eleven concludes with a brief overview of the issues of globalisation and trading blocs and unresolved problems of VAT.

This book provides an ideal introduction to the principles of VAT. It is not a book for VAT experts. It is a book for tax advisers, business executives, academics and students from outside the EU who want to get a grasp of the main VAT issues. Those who are looking for extensive detail should do so elsewhere. A major advantage of the book is Ogley's lucid style, which makes a complex subject easy to read.