CHAPTER SUMMARY
Creating value is the central purpose of both organizations and individuals. For profit-making organizations, value can be defined as Economic Value, which is roughly interchangeable with shareholder value in the case of publicly traded corporations. A corresponding formulation defines what creating value means for individuals within the organization. Simply put, organizations and individuals succeed to the extent that they engage in sustained value creation.
The five keys to being a great value creator involve having (1) a clear definition of the meaning of value for a specific organization, (2) a clear understanding of the activities that create value and the multiple perspectives on value creation that exist in the organization, ...
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