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Published: October 11, 2002

 
 

Best Business Books 2002: Strategy

Finally, Amram provides consistent, but differentiated, valuation. One of the principal challenges in valuation is that different investments require different methodologies. Traditional discounted cash flow works fine if there is a single decision point and fairly predictable cash flows. But a lease for an offshore oil field or for 3G spectrum requires options-based valuation, because of the series of decisions and the significant market price uncertainty involved; venture capitalists use yet a different valuation method. One problem with most valuation books is that they try to use a single valuation method for these very different investments. Amram honors the differences by offering several methods and provides a simple logic to decide which method to use, yet ensures that all the methods use a common philosophy so that a firm’s full sweep of opportunities can be valued consistently. For valuation, Value Sweep is the book to use.

Will these four books equip you to strategize a Battle of Tannenberg? Probably not on their own. But with their combination of stories, tools, and frameworks, they will equip the modern strategist to build a profitable enterprise — even without the help of the Prussian army.  

Reprint No. 02407


Authors
Chuck Lucier, chuck@chucklucier.com
Chuck Lucier is senior vice president emeritus of Booz Allen Hamilton. He is currently writing a book and consulting on strategy and knowledge issues with selected clients. For Mr. Lucier’s latest publications, see www.chucklucier.com.

Jan Dyer, janet.dyer@ptsem.edu
Jan Dyer spent the last 11 years at Booz Allen Hamilton, where she served as the firm’s director of intellectual capital and worked with corporations in a variety of industries. She specializes in the strategic application of knowledge and learning.
 
 
 
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