Defining Value and Focusing on Value Creation
Creating value is the core mission of any organization or individual. Yet it is clear that sustained value creation does not happen consistently. Ron Miller of the Walt Disney Company lost his job as CEO in 1984 despite the company's outstanding brand quality and Miller's family ties to Walt Disney himself. Al Dunlap, a one-time darling of Wall Street, was removed as CEO of Sunbeam Corporation in 1998. IBM fired John Akers as CEO in 1993 and replaced him with Lou Gerstner, despite the fact that the company was still a dominant force in the computer industry. In every case, the reason was the same: ...
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