Value based management : the corporate response to the shareholder revolution /

Commissioned by the Financial Management Association and the Harvard Business School Press, this book is part of the "Survey and Synthesis Series" of business management primers. It contains almost everything a reader would ever want to know about value based management (VBM). The authors' clear aims are to convince business executives that they should adopt VBM, and to give them the basic tools to begin the process, generally using case studies as illustrations. Value based management aims to maximize shareholder value through a clear focus on maximizing the value of future cash flows to the firm. Although much of the book forcefully presents the positive case for VBM and critiques alternative approaches, a concluding section does consider some potential problems, especially those of successful implementation. There is not much discussion of the social consequences of VBM for business stakeholders as opposed to the shareholders, but social commentary is not the purpose of books i n this series. A good primer for the business student or management practitioner looking for a focused and comprehensive survey. Upper-division undergraduate and up. M. Veseth University of Puget Sound