00967nam0-22003131--450-99000827159040332120141103115037.0000827159FED01000827159(Aleph)000827159FED0100082715920060210d1968----km-y0itay50------baengUSy-------001yyBalance-of-payments adjustment policiesjapan, Germany, and the NetherlandsMichael MichaelyNew YorkNational Bureau of Economic Research1968X, 112 p.24 cmOccasional paperNational bureau of economic research106Michaely,Michael128763ITUNINARICAUNIMARCBK990008271590403321O/2.2 MIC041016/FSESXV C 64 (106)85209FGBCFGBCSESBalance-of-payments adjustment policies741281UNINA05329nam 22006494a 450 991014574590332120170814184703.01-281-31170-797866113117043-527-61224-63-527-61225-4(CKB)1000000000412413(EBL)481321(OCoLC)609855235(SSID)ssj0000312591(PQKBManifestationID)11224054(PQKBTitleCode)TC0000312591(PQKBWorkID)10332175(PQKB)10984170(MiAaPQ)EBC481321(EXLCZ)99100000000041241320081008d2006 fy 0engur|n|---|||||txtccrValue creation[electronic resource] strategies for the chemical industry /edited by Florian Budde, Utz-Hellmuth Felcht, and Heiner Frankemölle2nd ed.Weinheim Wiley-VCHc20061 online resource (503 p.)Description based upon print version of record.3-527-31266-8 Includes bibliographical references and index.Value Creation; Contents; Preface; Acknowledgements; List of Contributors; 1 Today's Chemical Industry: Which Way Is Up?; 1.1 The Chemical Industry Today - A Snapshot; 1.2 Eras of the Chemical Industry; 1.3 Summary; 2 Shareholder Value Orientation: Not a Question of Whether, but How; 2.1 Capital Market Deviations as the Key Challenge for Shareholder Value Orientation; 2.2 How Capital Markets Reflect Fundamental Value Creation; 2.2.1 Capital Markets and Effects of Earnings Announcements; 2.2.2 Capital Markets and Expectations on Fundamental Value Creation2.3 New Tools for an Advanced Shareholder Value Orientation2.3.1 Capital Market Diagnostic: Gain an In-depth Understanding of Capital Market Signals; 2.3.2 Financing Policy: Harmonizing Financing with Strategy; 2.3.3 Investor Relations: from a PR Approach to Targeted Marketing; 2.4 Summary; 3 Structural Drivers of Value Creation in the Chemical Industry; 3.1 Introduction to the Study; 3.2 Mobility in a Mature Industry; 3.3 What Drives Performance?; 3.4 A Closer Look at Value Creation in the Segments; 3.4.1 Commodity Companies; 3.4.2 Specialty Companies; 3.4.3 Diversified Companies3.5 Summary4 Chemicals - Driving Innovation in Other Industries; 4.1 Liquid Crystals: Superlative, Not Superfluous; 4.1.1 Staying Power; 4.1.2 Managing an Active Patent Strategy; 4.1.3 A Customer-focused Approach Built on Expertise in Production and Application Technology; 4.1.4 Timing is Everything: Internationalization and Diversification; 4.1.5 The Best Intellects; 4.2 Outlook; 4.3 Summary; 5 Today's Challenges and Strategic Choices; 5.1 Overall Outlook Stable; 5.2 The Value Kaleidoscope; 5.2.1 East, West, Is Home Best?; 5.2.2 The Feedstock Rollercoaster5.2.3 Biotechnology - Looking into the Seeds of Time5.2.4 Mergers and Acquisitions; 5.3 What Happens Next?; 5.4 Summary; 6 An Approach to Determining the Long-term Attractiveness of Commodity Chemical Businesses; 6.1 Looking beyond Cyclicality; 6.1.1 Two Types of Costs Needed to Anticipate the Future; 6.1.2 The Role of Reinvestment Economics; 6.1.3 Learning to Love Fly-ups; 6.2 Putting the Model to Work; 6.3 The Example of Ethylene; 6.3.1 The Rise of the Middle East; 6.3.2 Awash with Stranded Gas?; 6.4 Tailoring the Model; 6.5 Conclusion; 6.6 Summary7 Middle East: Opportunities and Challenges from the Rapid Emergence of a Global Petrochemical Hub7.1 Turning to the East; 7.1.1 Booming Demand in Asia-Pacific; 7.1.2 High Input Costs Render Western Companies Uncompetitive; 7.2 Pathways to Growth for the Middle East; 7.2.1 Local Capacity Expansion; 7.2.2 Portfolio Expansion and Forward Integration; 7.2.3 Geographic Expansion; 7.2.4 Hurdles to Overcome; 7.3 Way Forward for the West; 7.4 Capturing the Value; 7.4.1 Business Intelligence; 7.4.2 Microeconomic Rigor; 7.4.3 Managing Risks and Uncertainties; 7.4.4 Organizational Excellence7.4.5 ExecutionWritten by a global team of top managers and senior McKinsey experts, this expanded and completely revised second edition provides a wide-ranging manual on the subject of value creation in the chemical industry.Drawing on extensive first-hand management experience, several hundred consulting engagements, and in-depth research projects, the authors outline the key ingredients for managing chemical companies successfully. The book addresses in detail key issues of strategy and industry structure, describes best practice in the core functions of the chemical business system, looks at the statChemical industryPlanningChemical industryManagementElectronic books.Chemical industryPlanning.Chemical industryManagement.338.4761510688Budde F(Florian)980921Felcht Utz-Hellmuth980922Frankemölle Heiner1957-980923MiAaPQMiAaPQMiAaPQBOOK9910145745903321Value creation2238531UNINA