Adding Value

Neville Bain

Chapter 7 in Successful Management, 1995, pp 104-123 from Palgrave Macmillan

Abstract: Abstract The core of all management activities is to add value. This must be the prime objective of all activities undertaken by managers. There are many different ways that value can be added and at every level of management the successful manager will understand the unique areas where most value can be created. Adding value is at the root of all management endeavours and is of course the core message of this book. Throughout this, ideas bubble around because a successful management team understands that collectively they must add so much value that their business is able to outperform the competition and provide superior financial returns in the long term. This message is present throughout, yet in this chapter we will examine six specific areas which experience has shown will yield significant benefits in the longer-term competitiveness of the firm: 1. Strategy; 2. Sales-based growth; 3. Fundamental review of the business processes to invest behind those that add value and scrap those that do not; 4. Information technology; 5. The value the group or the centre can add to a multidimensional business; 6. Can the board add value? Inevitably, there is some overlap with other areas but that is normal in management. It is not usual to find knowledge or activities in prescribed little boxes!

Keywords: Corporate Governance; Business Process; Successful Management; Audit Committee; Chief Executive (search for similar items in EconPapers)
Date: 1995
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DOI: 10.1057/9780230374157_7

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