Value Leadership

In Value Leadership, renowned management and investmentexpert Peter Cohan -- whose 2002 stock picks gained 81percentwhen the S&P 500 plunged 24 percent-- provides a new andpowerful concept of sustainable corporate value. Using hisexpertise in understanding shareholder value, Cohan offersexecutives seven management principles that were tested in periodsof economic expansion and contraction. These principles are:valuing human relationships, fostering teamwork, experimentingfrugally, fulfilling your commitments, fighting complacency,winning through multiple means, and giving to your community. Cohanillustrates these principles by drawing on examples from eightValue Leaders-- Synopsys, WalMart, Goldman Sachs, MBNA,Johnson & Johnson, J. M. Smucker, Southwest Airlines, andMicrosoft. Through two recessions, these companies grew 35 percentfaster, were 109 percent more profitable, and generated five timesmore shareholder wealth than their peers.