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Value creation: strategies for the chemical industry

Author: Budde, Florian ; Farha, Gary A. ; Frankemölle, Heiner ; Hoffmeister, David F. ; Krämer, Konstantin Corporate author: McKinsey Publisher: Wiley, 2001.Language: EnglishDescription: Graphs ; 24 cm.ISBN: 3527302514Type of document: BookBibliography/Index: Includes index
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Item type Current location Collection Call number Status Date due Barcode Item holds
Book Europe Campus
Main Collection
Print HC2000 .C4 B83 2001
(Browse shelf)
001223084
Available 001223084
Total holds: 0

Includes index

Digitized

Value Creation Strategies for the Chemical Industry Contents 1 1.1 1.2 2 2.1 2.2 2.3 2.3.1 2.3.2 2.3.3 2.3.3.1 2.3.3.2 2.3.3.3 Today's Chemical Industry: Which Way is Up? 1 Florian Budde and Konstantin Kramer The Chemical Industry Today ­ a Snapshot 1 Eras of the Chemical Industry 7 Today's Challenge ­ Value Creation 11 Robert Berendes, Florian Budde, Konstantin Kramer, and Christian Weber Shareholder Value ­ Why the Recent Rise to Fame? 11 How Good a Measure is Shareholder Value? 14 Understanding and Managing Capital Market Expectations 16 Understanding Historic Capital Market Performance 16 Quantifying Future Expectations 18 The Impact of Strategic Action 19 Delivering on Short Term Earnings Expectations 19 Creating a Long Term Growth Story 21 Effective Communication 21 3 3.1 3.2 3.2.1 3.2.2 3.3 4 4.1 4.2 4.3 Strategic Choices for the Chemical Industry in the New Millennium 23 Florian Budde, Brian Elliott, Gary A. Farha, Heiner Frankemölle, Tomas Koch, and Rodgers Palmer The Chemical Industry Today ­ Forces for Change 23 Strategies for Value Creation 26 The Focus of Asset-Leveraging Strategies 27 The Ideas behind Knowledge-Leveraging Strategies 29 The Impact of Value Creation Strategies 34 Managing Commodity Portfolios 37 Thomas Röthel, Gary A. Farha, and David F. Hoffmeister The Shakeup has Begun 37 The New Game ­ Disaggregation and Focus 40 Overcoming Barriers to Action 42 XVIII Contents 5 5.1 5.2 5.3 5.3.1 5.3.2 5.4 5.5 5.5.1 5.5.2 5.5.3 5.5.4 6 6.1 6.2 6.3 6.4 6.4.1 6.4.2 6.4.3 7 7.1 7.2 7.3 7.4 8 8.1 8.2 8.3 8.4 8.4.1 8.4.2 8.4.3 8.4.4 8.4.5 8.5 8.5.1 How to Succeed in the Rapidly Maturing Specialty Chemicals Industry 47 Joel Claret, Simon Lowth, and David McVeigh The Commoditization of Specialty Chemicals ­ What Happens Next? 47 Recasting the Portfolio 51 Achieving Superior Performance at the Business Unit Level 56 Selecting a Single Winning Business Model 56 Executing the Selected Business Model Outstandingly 59 Going for Growth 60 Designing a Value-Adding Corporate Center 61 Putting in Place a Lean, Investor-Type Corporate Center 61 Ensuring Differentiated Management of Various Business Units 62 Driving Selected Corporate Themes 64 Sharing Best Practices Across Businesses 64 Chemical Companies and Biotechnology 65 Rolf Bachmann and Wiebke Schlenzka Biotechnology ­ the Background 65 Attractive in Agrochemicals 67 Other Chemical Businesses: Fast Moves Needed 71 Defining the Directions for Moving into Biotechnology 75 Performing a Diagnostic for Individual Chemical Businesses 75 Outlining the Strategic Options for Biotechnology Portfolios 75 Making the Transformation 77 The Impact of E-Commerce on the Chemical Industry 79 Ralph Marquardt, Jan-Philipp Pfander, Boris Gorella, and David McVeigh Winning Control in E-Commerce 79 The Creation and Redistribution of Value 81 Strategic Questions for Top Management 85 How to Overcome Transitional Challenges 90 The Alchemy of Leveraged Buyouts 93 G. Sam Samdani, Paul Butler, and Rob McNish The Saga of the Deals 94 What is Attractive about Chemical LBOs 97 How Value is Created in Chemical LBOs 98 Infecting Chemical Corporations with the LBO Virus 101 Maximizing M andA Performance and Divestment Value 101 Operating Like a Financial Holding Company 102 Implementing Do-it-Yourself 'Internal LBOs' 102 Harnessing the Catalytic Power of Collaboration 103 Executing Leveraged Recapitalization 103 New Roles for LBO Players 104 Portfolio Optimizer 105 Contents XIX 8.5.2 8.5.3 8.5.4 8.6 9 9.1 9.2 9.2.1 9.2.2 9.3 9.3.1 9.3.2 9.3.3 Aggressive Consolidator 105 Spanning the Alliance Spectrum 105 LB Us: Moving beyond the Conventional LBOs 106 Steps toward a Natural Convergence 106 Revitalizing Innovation 109 Wiebke Schlenzka and Jurgen Meffert The Innovation Challenge 109 Defining the Innovation Strategy 110 Focusing on High Impact Innovations 110 Defining the Specific Company Strategy 112 Approaches to Stimulating Innovation 114 Clearly Structured Idea Generation Processes 114 Corporate Venture Funds 117 New Company Structures and Incentive Systems for Business Building 119 Managing the Organizational Context 121 Karsten Hofmann and Heiner Frankemölle Supporting Strategy by Structure 121 The Corporate Center ­ Lean but not Anorectic 124 The War for Talent 128 Corporate Culture: The Key to Top Performance 131 References 135 Creating an Entrepreneurial Procurement Organization 137 Khosro Ezaz-Nikpay, Ulrich Horsmann, and Helge Jordan A Bold Move in Purchasing can Create Huge Value 137 PSM Comes into its own when Linked with Key Strategic Challenges 138 Treat Purchasing Opportunities as a Business Idea 142 Captivate the Company's Attention: Create an Entrepreneurial Value Proposition 143 Capture the Opportunities: Embark on a Comprehensive Program Build Capabilities: Evolve a Dynamic Organization and Design Communities of Practice 147 How to Unleash the Power of Purchasing: to Boldly Go... 149 Achieving Excellence in Production 151 Markus Aschauer, Christophe Bédier, Robert Berendes, Jens Cuntze, Heiner Frankemölle, and Thomas Röthel Levers for Optimizing Production Costs 152 Implementing Operational Change Programs in a Chemical Plant 155 High Aspirations 155 Step Changes 157 10 10.1 10.2 10.3 10.4 11 11.1 11.2 11.3 11.3.1 11.3.2 11.3.3 11.4 12 12.1 12.2 12.2.1 12.2.2 XX Contents 12.2.3 13 13.1 13.2 13.3 13.4 14 Continuous Improvement 159 A Customer-centric Approach to Sales and Marketing 163 Sönke Bästlein and Jan-Philipp Pfander Customer Portfolio Strategy 164 Profitable Long Term Customer Relationships 167 Absolute Control over the Sales Generation Process 169 Securing Implementation by Superior Micro-Market Management 171 The Role of Mergers and Acquisitions 173 Markus Aschauer, Christophe de Mahieu, Philip Eykerman, Gary A. Farha, Michael Graham, and Thomas Röthel The Case in Favor of Consolidation 173 Finding a Partner 177 Is there an Alternative? 180 The Delicate Game of Post-merger Management 183 Tomas Koch, Andre M. Schmidt, and Boris Gorella The Obligation to Create Value The Keys to Success 185 The Road to Successful Integration 188 Phase One: Integration Design 189 Developing a Shared Vision 190 Identifying the Potential for Adding Value 190 Securing Current and Future Business 192 Building the Shared Performance Culture 192 Phase Two: Execution of Integration Projects 194 Cyclicality: Trying to Manage the Unmanageable 197 Paul Butler, Robert Berendes, and Brian Elliott The Drivers of Cyclicality 199 Managing Cyclicality for Competitive Advantage -- a Worthwhile Endeavor? 202 Getting Investment Timing Right 203 Price Prediction as a Strategic Tool 204 If Managing Cyclicality is not the Best Route to High Returns, What is? 207 Cyclical Asset Trading 209 Index 213 14.1 14.2 14.3 15 15.1 15.2 15.3 15.3.1 15.3.1.1 15.3.1.2 15.3.1.3 15.3.1.4 15.3.2 16 16.1 16.2 16.2.1 16.2.2 16.2.3 16.3

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