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To view this page ensure that Adobe Flash Player version 9.0.124 or greater is installed. We isolated three key financial drivers capable of increasing enterprise value: ..Revenue or market share growth – Certain utilization strategies reap benefits that can directly increase rev-enues (for example, additional sales facilitated due to aircraft trips or the expansion of markets available to an enterprise utilizing business aircraft). ..Profit growth – To calculate the increased earnings re-sulting from using business aircraft, a cost-benefit com-parison must be undertaken to determine whether the quantifiable costs of operating the aircraft are less than the quantifiable benefits. The evaluation must take into account the financing strategy for the aircraft, the tax implications, the operating costs, and the tangible and intangible benefits derived. In general, if the quantifiable benefits are greater than the quantifiable costs, business aircraft utilization should be a “must” for the company. ..Asset efficiency – A company can increase its asset efficiency in a number of ways, including improving business processes and leveraging existing assets more effectively. Supply chain improvements fall into this cat-egory. Some specific strategies which would cause large increases in asset efficiency include cycle time reduc-tions and key employee leverage. Figure 4: ENTERPRISE VALUE FRAMEWORK (RIGHT) Several nonfinancial enterprise value drivers, although as important as the financial drivers, are difficult to quantify. We have reverted to qualitative analysis through research, CFO interviews, and comparative studies of the “Best of” lists. These include: ..Customer satisfaction – A key differentiator in a competitive marketplace, customer sat-isfaction measures the degree to which a customer’s expectations have been met or ex-ceeded. This nonfinancial driver indirectly influences revenue and profit growth through improved brand value. Many aircraft users find ways to deploy their aircraft with remarkable effect, resulting in increased customer satisfaction. Examples include bringing customers to a company’s manufacturing facility to close key contracts; using aircraft for sales and market-ing campaigns; and deploying quick-response customer service teams. 中国公务机网 www.gongwuji.com 公务机翻译 www.aviation.cn 本文链接地址：BUSINESS AVIATION – AN ENTERPRISE VALUE PERSPECTIVE 2003 – 2009(18) |
