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Called "today′s hottest financial idea and getting hotter" by fortune magazine, Economic Value Added (EVA) is the topic of conversation in financial circles around the world, from Germany and Japan to Singapore and South Africa. A revolutionary strategy for creating corporate and shareholder wealth that measures a company′s real profitability, it has been adopted by such prominent corporations as Coca–Cola, Eli Lilly, and Siemens AG–with spectacular financial results. Yet, despite its increasing visibility, most executives still only have a vague notion of what EVA is and what it can do for their company. This groundbreaking book explains and clarifies all. Written by Al Ehrbar, a leading business journalist and senior vice president at EVA inventor Stern Stewart & Co., EVA: The Real Key to Creating Wealth provides a complete, accessible overview that examines how exactly EVA works, how it is measured, what it can do to structure incentives for employees, and why it is as potent as it is.
At its most basic, Economic Value Added is a measure of corporate performance that differs from most others by charging profit for the cost of all the capital a company employs, including equity. To help translate principle into real–world practice, Ehrbar presents revealing case histories of EVA success stories, including those of Briggs & Stratton, the U.S. Postal Service, and Coca–Cola, which was catapulted from mediocrity to the number one wealth creator in the world with the addition of EVA.
An in–depth look at a breakthrough idea whose impact is being felt from corporate boardrooms to Wall Street, this indispensable book is must reading for business leaders looking to fully grasp–and profit from–"the real key to creating wealth."
At its most basic, Economic Value Added is a measure of corporate performance that differs from most others by charging profit for the cost of all the capital a company employs, including equity. To help translate principle into real–world practice, Ehrbar presents revealing case histories of EVA success stories, including those of Briggs & Stratton, the U.S. Postal Service, and Coca–Cola, which was catapulted from mediocrity to the number one wealth creator in the world with the addition of EVA.
An in–depth look at a breakthrough idea whose impact is being felt from corporate boardrooms to Wall Street, this indispensable book is must reading for business leaders looking to fully grasp–and profit from–"the real key to creating wealth."
From the Inside Flap
Called "today′s hottest financial idea and getting hotter" by Fortune magazine, Economic Value Added (EVA) is the topic of conversation in financial circles around the world, from Germany and Japan to Singapore and South Africa. A revolutionary strategy for creating corporate and shareholder wealth that measures a company′s real profitability, it has been adopted by such prominent corporations as Coca–Cola, Eli Lilly, and Siemens AG–with spectacular financial results. Yet, despite its increasing visibility, most executives still only have a vague notion of what EVA is and what it can do for their company. This groundbreaking book explains and clarifies all. Written by Al Ehrbar, a leading business journalist and senior vice president at EVA inventor Stern Stewart & Co., EVA: The Real Key to Creating Wealth provides a complete, accessible overview that examines how EVA works, how it is measured, what it can do to structure incentives for employees, and why it is as potent as it is. At its most basic, Economic Value Added is a measure of corporate performance that differs from most others by charging profit for the cost of all the capital a company employs, including equity. However, as Ehrbar explains, EVA is much more: "It is the framework for a complete financial management and incentive compensation system that can guide every decision a company makes.that can transform corporate culture, that can improve the working lives of everyone in an organization by making them more successful, and that can help them produce greater wealth for shareholders, customers, and themselves." To help translate principle into real–world practice, Ehrbar presents revealing case histories of EVA success stories, including those of Briggs & Stratton, the U.S. Postal Service, and Coca–Cola, which was catapulted from mediocrity to the number one wealth creator in the world with the addition of EVA. An in–depth look at a breakthrough idea whose impact is being felt from corporate boardrooms to Wall Street, this indispensable book is must reading for business leaders looking to fully grasp–and profit from–"the real key to creating wealth."
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This book celebrates a revolution in management known as EVA. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
This book celebrates a revolution in management known as EVA. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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14 reviews
32 of 34 people found the following review helpful
A commercial for Stern Stewart. Not much content.
17 Jun 1999
Format:Hardcover
The book was more a commercial for the consulting firm of Stern Stewart than a book with real content for those looking to understand EVA. While some of the real-life examples were interesting, the book tended to drone on. The EVA "revolution" they spoke to seems less a revolution than a few managements doing the right thing and aligning employee and corporate goals. It's interesting that a couple of firms they cite adopting EVA have run into recent trouble with one, Harnischfeger, filing Chapter 11.
12 of 12 people found the following review helpful
Loads of Stories, lack of content
15 Mar 1999
Format:Hardcover
EVA, the ... creating wealth starts of in a nice pace laying some of the ground work to why companies should move to an EVA view on their business performance. However, after a chapter or so one might expect that the book shifts its focus to showing how to implement EVA in a real life organization. It is especially in this area that the books seriously lacks content. The numbers of all the SternStewart clients look great but not a single "How-to-EVA" step can be found in the book. The book stops after the sales pitch and expects the reader to contact SternStewart to take it from there. It is for this reason that I do not feel any economic value added from this book, and do not recommend others to lock up any capital or effort into this book.
Bottom line: nice concept, no content
10 of 11 people found the following review helpful
Book does not contain substance beyond a journalistic review
27 April 1999
Format:Hardcover
This book does not contain any tangible methods to evaluate and implement EVA in a corporation. If the content of the book was summarized in one chapter or had been written in magazine article, it would be phenomenal reading.
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