Article

Strategy and Valuation

Peter Johnson

in The Oxford Handbook of Strategy

Published in print April 2006 | ISBN: 9780199275212
Published online September 2009 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199275212.003.0007

Series: Oxford Handbooks in Business and Management C

 Strategy and Valuation

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This article aims to explain the relevance of financial theory and valuation to strategy formulation, to describe the major developments in valuation techniques and to comment on their relative strengths and weaknesses, and to present elements of a new valuation framework, together with recent empirical results, that overcome many of the problems associated with traditional methods. Some strategists believe that strategy is a different discipline separate from finance and valuation. Notions of strategy are proposed which are concerned primarily with positioning or outmanoeuvring rivals. Business is about making money, and any strategic decision must ultimately be described in terms of a set of likely financial consequences for the organization that can be gauged.

Keywords: business strategy; valuation techniques; strategy formulation; financial theory; strategic decisions; valuation framework

Article.  10192 words. 

Subjects: Business and Management ; Business Strategy

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