Value Leadership: The 7 Principles that Drive Corporate Value in Any Economy PDF
Preview Value Leadership: The 7 Principles that Drive Corporate Value in Any Economy
a 966045 FM.qxd 8/12/03 2:12 PM Page v Peter S. Cohan Value Leadership The 7 Principles That Drive Corporate Value in Any Economy a 966045 FM.qxd 8/12/03 2:12 PM Page iii a 966045 FM.qxd 8/12/03 2:12 PM Page i Advance Praise for Value Leadership “Peter Cohan has produced a thoughtful and well-written analysis of what it takes to build and sustain a successful business organization. He employs real-life business examples to illustrate his points and he makes a compelling case for the principles which he believes can make or break a company.” —Samuel L.Hayes III,Jacob H.Schiff Professor of Investment Banking,Emeritus,Harvard Business School “Value Leadershipis an insightful and inspiring book.It recognizes that restoring trust in corporate America will take more than legisla- tion and compliance with regulations.It will demand a fundamental re-examination ofcorporate values,cultures,and relationships.Cohan presents a cogent,practical model for this process,which should inter- est investors,executives,board directors,employees,policy makers, and anyone who wants to see business generate value for society in a sustainable and ethical way.” —W.Michael Hoffman,executive director,Center for Business Ethics,Bentley College “Value Leadership evolves Cohan’s earlier paradigms into seven extremely clear principles to help both graduate students and man- agers in our executive education programs analyze companies in today’s hot fields like genomics,bio-informatics,and photonics.I think his principles,cases,and tools will also be quite useful for man- agers,venture capital investors,board members,and others who have to assess and guide growth businesses.” —Barry Unger,chairman,science and engineering program,divi- sion ofextended education and faculty ofphotonics,Boston Uni- versity “There are two things every executive should understand about Value Leadership.First,the Value Quotient is a strategic assessment and planning tool that is easy to understand and put to work.Second,it actually does work—brilliantly.” —Michael Alan Hamlin,author,The New Asian Corporation,and CEO,TeamAsia a 966045 FM.qxd 8/12/03 2:12 PM Page ii “It’s so easy to commit conceptually to value leadership,but so hard to implement that commitment in a sustained way and to achieve best-in-class results. Cohan provides guidelines for a systematic approach to both implementation and measurement ofvalue leader- ship derived from his in-depth studies ofcompanies that demonstrate sustained value leadership.The world needs more value leaders.Peter Cohan can help.” —Mark P.Rice,Murata Dean,F.W.Olin Graduate School ofBusi- ness,Babson College “Value Leadershipis an extremely important book because it lays out a clear and navigable road map for companies to restore trust with customers,employees,and investors.It thoroughly integrates uplift- ing principles with a thoughtful measurement approach to ensure out- standing results,providing a healthy antidote to the cynicism that has grown so pervasive....I recommend this book strongly to boards and management teams,who are almost universally dealing with these issues.” —Bill Kelvie,CEO,Overture Technologies “Peter Cohan takes us back to the future with laser-like focus through the prism of value (based) leadership.Cohan appeals powerfully to our natural instincts to “do the right thing”and reminds us that hon- esty,integrity,and character in their full splendor are the truly endur- ing elements of successful American capitalism—and as important and measurable as profits and growth.Value Leadershipis a much- needed prescription at a unique time in American business and stands apart from its genre by reminding us ofthe traits that make the pur- suit ofprofits a noble cause.” —Mahesh Krishnamurti,publisher and CFO,Worth Magazine a 966045 FM.qxd 8/12/03 2:12 PM Page iii Value Leadership a 966045 FM.qxd 8/12/03 2:12 PM Page iv Also by Peter S.Cohan The Technology Leaders: How America’s Most Profitable High- Tech Companies Innovate Their Way to Success Net Profit: How to Invest and Compete in the Real World of Internet Business e-Profit: High PayoffStrategies for Capturing the E-Commerce Edge e-Stocks: Finding the Hidden Blue Chips Among the Internet Impostors Technology Leaders e-Leaders a 966045 FM.qxd 8/12/03 2:12 PM Page v Peter S. Cohan Value Leadership The 7 Principles That Drive Corporate Value in Any Economy a 966045 FM.qxd 8/12/03 2:12 PM Page vi Copyright © 2003 by Peter S.Cohan.All rights reserved. Published by Jossey-Bass A Wiley Imprint 989 Market Street,San Francisco,CA 94103-1741 www.josseybass.com No part ofthis publication may be reproduced,stored in a retrieval system,or transmitted in any form or by any means,electronic,mechanical,photocopying,recording,scanning,or other- wise,except as permitted under Section 107 or 108 ofthe 1976 United States Copyright Act, without either the prior written permission ofthe Publisher,or authorization through payment ofthe appropriate per-copy fee to the Copyright Clearance Center,Inc.,222 Rosewood Drive, Danvers,MA 01923,978-750-8400,fax 978-750-4470,or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons,Inc.,111 River Street,Hoboken,NJ 07030,201-748-6011,fax 201-748-6008, e-mail:[email protected]. Jossey-Bass books and products are available through most bookstores.To contact Jossey-Bass directly call our Customer Care Department within the U.S.at 800-956-7739,outside the U.S.at 317-572-3986,or fax 317-572-4002. Jossey-Bass also publishes its books in a variety ofelectronic formats.Some content that appears in print may not be available in electronic books. Library ofCongress Cataloging-in-Publication Data Cohan,Peter S.,1957- Value leadership :the 7 principles that drive corporate value in any economy / Peter S.Cohan.—1st ed. p.cm. Includes bibliographical references and index. ISBN 0-7879-6604-5 (alk.paper) 1. Leadership.2. Executive ability.3. Profit.4. Social responsibility ofbusiness. I.Title:7 principles that drive corporate value in any economy.II. Title:Seven principles that drive corporate value in any economy.III.Title. HD57.7.C63 2003 658.4'092—dc21 2003006810 Printed in the United States ofAmerica FIRSTEDITION HB Printing10 9 8 7 6 5 4 3 2 1 a 966045 FM.qxd 8/12/03 2:12 PM Page vii Q Contents Introduction:What Is Value Leadership? 1 1 Where Do You Stand? (Start with the Value Quotient) 25 2 People Matter (Value Human Relationships) 53 3 Two Heads Are Better Than One (Foster Teamwork) 81 4 Growth Matters (Experiment Frugally) 107 5 Trust Is Vital (Fulfill Your Commitments) 137 6 Success Can Breed Failure (Fight Complacency) 165 7 Profit Is Vital (Win Through Multiple Means) 189 8 Doing Good Matters (Give to Your Community) 221 9 Actions Speak Louder Than Words (Instill Value Leadership in Executives,Investors,and Policymakers) 253 Appendix:Selection and Value Quotient Analysis ofValueLeaders 275 Notes 291 Acknowledgments 302 The Author 304 Index 307
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