According to our colleagues, “the nature and intensity of the performance-management culture is perhaps the most striking difference between the two environments. Private equity boards have what one respondent described as a ‘relentless focus on value creation levers.’ … In contrast, public boards were described as much less engaged in detail. … Public boards focus much less on fundamental value creation levers and much more on meeting quarterly profit targets. … [Public boards] are focused more on budgetary control, the delivery of short-term accounting profits, and avoiding surprises for
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