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Perhaps no other individual has written as extensively on value‐based planning as Alfred Rappaport. He is Leonard Spacek Professor of Accounting and Information Systems at Northwestern University and Chairman of The Alcar Group, Inc., a Chicago‐based firm that provides management education, consulting, and software for shareholder value analysis. Rappapon first began to formulate his ideas on how companies should manage for shareholder value in the late 1970s. In his recent book, Creating Shareholder Value (New York: The Free Press, 1986), he strongly advocated making value‐based planning a more integral part of strategic management. And this was the issue on which Planning Review focused its line of questioning.

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