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The Eva Challenge: Implementing Value–Added Change in An Organization (Wiley Finance)

The Eva Challenge: Implementing Value–Added Change in An Organization (Wiley Finance)

The Eva Challenge: Implementing Value–Added Change in An Organization
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The Eva Challenge: Implementing Value–Added Change in An Organization (Wiley Finance) Hardback - 2001

by Stern, J. M., et al

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EVA--economic valued added--is a measure of the true financial performance of a company and a strategy for creating corporate and shareholder wealth. This detailed "how-to" guide represents the second phase in the "EVA Revolution", showing executives around the world how to customize and implement EVA at their companies.

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John Wiley & Sons, 2001. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. Clean from markings. In good all round condition. Dust jacket in good condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,650grams, ISBN:9780471405559
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Details

  • Title The Eva Challenge: Implementing Value–Added Change in An Organization (Wiley Finance)
  • Author Stern, J. M., et al
  • Binding Hardback
  • Edition First Edition
  • Pages 256
  • Volumes 1
  • Language ENG
  • Publisher John Wiley & Sons, Somerset, New Jersey, U.S.A.
  • Publication date 2001
  • Illustrated Yes
  • Features Bibliography, Illustrated, Index
  • Bookseller's Inventory # 9931042
  • ISBN 9780471405559 / 0471405558
  • Weight 1.16 lbs (0.53 kg)
  • Dimensions 8.78 x 6.86 x 0.94 in (22.30 x 17.42 x 2.39 cm)
  • Category Business / Economics / Finance
  • Library of Congress subjects Economic value added
  • Library of Congress Catalogue Number 00047993
  • Dewey Decimal Code 658.403

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Reader reviews for The Eva Challenge: Implementing Value–Added Change in An Organization (Wiley Finance)

From the publisher

The co-founder of EVA shows how to apply it in today's new economy

EVA-economic valued added-is a measure of the true financial performance of a company, and a strategy for creating corporate and shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the "shop floor." In The EVA Challenge, the authors outline how to implement EVA-from training employees to answering the most frequently encountered implementation problems faced by companies.

This detailed "how-to" guide represents the second phase in the "EVA Revolution," showing executives around the world how to customize and implement EVA at their companies. Here, EVA converts learn how to work some "EVA magic" through company-specific initiatives and case study examples. Coverage includes completely new materials on "real options," leveraged stock options, and other concepts critical to corporations in both new and old economy industry sectors.

First line

Back in the early 1960s, one of the authors of this volume was asked by an old family friend what he was studying at the University of Chicago.

From the jacket flap

-Economic Value Added-is a measure of the true economic performance of a company and a strategy for creating shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the shop floor. Properly implemented, EVA frees the mea-surement of corporate performance from the vagaries of accounting conventions and aligns the interests of managers with those of shareholders, ending a decades-long conflict of interest.

In The EVA Challenge, authors Stern, Shiely, and Ross outline how to implement EVA at all stages-including strategy development, organizational design, training, and incentive compensation.

Essentially, an EVA program encompasses three things: a measurement system, an incentive system, and a system of financial management. In measuring performance, for example, EVA's key ingredient is the recognition of a capital charge--the cost of the capital in a company, in a division, in a branch store, or in a product. This detailed how-to guide shows executives around the world how to customize EVA for their organizations and improve the economic value they deliver. Here, EVA converts learn how to work some "EVA magic" through company-specific initiatives and case study examples. Coverage includes insightful new material on matters such as real options and new economy valuations, showing why new economy firms need EVA as much as old economy firms.

Executives around the globe now have a book that shows them how best to utilize EVA at their companies-reorienting the corporate ship in the direction of true economic profit. Research shows that companies using EVA outperformed competitors of comparable market capitalization by an average of 49% over a five-year period, as measured by total returns to shareholders.

Media reviews

Citations

  • Reference and Research Bk News, 08/01/2001, Page 116

About the author

JOEL M. STERN has been Managing Partner of Stern Stewart & Co. since its founding in 1982. He currently serves on the faculties of five graduate business schools all over the world. A widely published writer, he has been a financial policy columnist for the Sunday Times of London. A recognized authority on financial economics, corporate performance measurement, corporate valuation, and incentive compensation, Mr. Stern is a leading advocate of the concept of shareholder value.
JOHN S. SHIELY is President of Briggs & Stratton, one of the most successful implementers of EVA. He began his career as a tax accountant at Arthur Andersen & Co., then served as a lawyer, first with the Hughes Hubbard & Reed law firm, later at Allen-Bradley/Rockwell Automation, and finally joining Briggs & Stratton in 1986 as general counsel. He has received a bachelor of business administration in accounting from the University of Notre Dame, a JD from Marquette University Law School, and a Master of Management degree from Northwestern University.
IRWIN ROSS was retained by Joel Stern to assist in the writing of The EVA Challenge. He has written a number of books, including The Loneliest Campaign, The Image Merchants, and Shady Business. He is a former roving editor of Reader's Digest and over the years has written for a variety of other magazines, including Fortune and Harper's. Mr. Ross has also been a regular contributor to Stern Stewart's EVAngelist.
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