A staggering proportion of enterprise value does not depend on current operations, but rather on expectations concerning growth opportunities-what Accenture calls future value. Much of that future value depends, in turn, not on the resources (assets) that traditional accounting practice handles well-i.e. the monetary and physical assets-but on the resources it hardly handles at all-such as, intangible and intellectual capital. Many of the most successful companies in the last decade are organized around new business models like value shops and value networks.

In this research report we discuss these important issues and introduce a new methodology for managing shareholder value (The Future Value Management™ Methodology), one that manages all components of valuation by managing all of the company's resources.