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FINANCIAL ANALYSIS: TOOLS AND TECHNIQUES CHAPTER 1

CHAPTER 1 THE CHALLENGE OF FINANCIAL/ ECONOMIC DECISION-MAKING. As a way of introducing the range of analytical concepts and tools contained in this book, ưe’ll attempt to characterize some of the key attributes of the “new economy” phenomenon and draw conclusions about the implications for financial analysis. | Financia Erich A. Helfert Team-FÍy hel78340_FM.qxd 9 27 01 10 56 AM Page COMMENTS ABOUT ERICH A. HELFERT AND THIS BOOK Erich Helfert s book is a bona fide treasury for executives managers and entrepreneurs who need to understand financial management. I have used and recommended this great work in both corporate and university programs for more than ten years. Erich Helfert possesses unique abilities to make clear the arcane that frequently enshrouds topics of financial management. Allen B. Barnes Past Provost IBM Advanced Business Institute formerly Director of Executive Education UCLA Erich Helfert s book is a candidate for every consultant-to-management s bookshelf. The underlying agenda is financial management as it pertains to effective resource allocation decisions. Framed in a dynamic model of the Business System the beauty of Helfert s presentation lies in its treatment of subsystems that differentiate between investment operations and financing decisions but which are also integrated into the overall managerial fabric. Stanley Press CMC Book review September 2000 C2M Consulting to Management Journal Erich Helfert possesses a rare ability to make financial concepts understandable to individuals who lack a financial background. As a result we had Dr. Helfert conduct shareholder value creation classes for all senior managers and create a shareholder value course for all other salaried and hourly employees. The results of these efforts exceeded our high expectations. L. Pendleton Siegel Chairman and Chief Executive Officer Potlatch Corporation Erich Helfert has played an instrumental role in teaching HP managers of both financial and non-financial backgrounds in our long-standing Functional Management Program. His excellent financial overviews and simplified models effectively broaden our managers understanding and ownership of their fiscal responsibility to HP and our shareholders. Robert P. Wayman Executive Vice President and Chief Financial Officer .