RECAP- THE PHIL MICKELSON MANAGER
There is a lack of business value being created by private owners of companies today. Less than a quarter of all private companies in the U.S. will be worth more in five years than they are today. Many managers do not have entity value-creation as a goal; rather, they prefer to create personal value (via salary/bonus). Others seek to increase the market value of their firms, but do not have a framework to work with.
THE PHIL MICKELSON APPROACH
Globalization has produced a striking side effect – for the first time in mankind’s history, everyone on the planet has access to the world’s natural resources. For example, Europeans, Asians, and Americans can all access Brazilian rainforests, Chinese factories and Indian technologists.
What separates the winners if everyone has access to the same cost structure? The ability to develop and employ intellectual capital. Intellectual capital represents the know-how or collective experience that adds value to a company. In other words, whoever creates the most value from the communal resources wins. This is the province of a Phil Mickelson manager, “The High Achiever”
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