“Shareholder value is still – and has always been – about creating value for customers, looking at what your employees want, paying them a fair price, looking at all other stakeholders that have – or don’t have – a say in it, and compensating your investors.”

“If you cover all those costs with your revenues and there’s something left over, this is what is called shareholder value.”

“Shareholder value” does not mean money. This is a mistake that American business schools have been spoonfeeding the last generation of MBAs.