Business models used in emerging Asia and traditional western markets were at odds. In the west,
transparency was the keystone, providing clear rules and disclosures for how business should be
conducted, and shareholder value maximisation became the universal mantra. With few exceptions,
the largest and best corporations were privately held and usually the bulk of their stock was traded on
Another type of lock —— a rim deadbolt —— that can be mounted to the inside
surface of an entry door can also be used. Such locks will perform well under a
forced entry attack, if they are properly selected. Some rim lock deadbolts
actually interlock with the strike (a strike is the part of the lock installed on the
In spite of the acceptance, in principle, that the task of management is to maximise returns for shareholders, most
companies and fund managers still have not adopted value-based management. Accounting earnings rather than
cash ﬂows still form the basis for evaluating performance and valuing businesses. The ﬁnancial press and analysts’
reports consistently focus on short-term earnings, earnings per share and price earnings ratios.
Well-being is more than the absence of mental illness. One review of the literature (Ryan &
Deci, 2001) describes it as ‘optimal psychological functioning and experience’. Precisely what
constitutes optimal experience has been the subject of philosophical debate since the roots of
the hedonic tradition in the 4th century BC when it was proposed that the goal of life was to
experience the maximum amount of pleasure.
This requires, firstly, clarity as to what the target means and secondly, an understanding of how this might
What is a society with an enterprise culture? It can be a society in which the potential for individuals and
groups to start a business is maximised. More broadly it can be a society in which individuals in all kinds
of organisations and in all aspects of life behave in an entrepreneurial manner.
The 2007 global financial crisis ignited by reckless bankers and their flawed reward structures will be felt for years to come.
Emerging from the wreckage, however, is renewed support for the over-arching objective of traditional finance theory,
namely the long-run maximisation of shareholder wealth using the current market value of ordinary shares (common
stock) as a benchmark.
Learning objectives of this chapter include: Distinguish between the private and public sector approaches to project evaluation; explain the net present value approach to project evaluation and compare it with the internal rate of return and the benefit-cost ratio; show why, under ideal conditions, public sector projects should strive to maximise consumer (and producer) surplus;...