As I discussed in Chapter 3, some CVC activities create value, while others charge for or erode value. It makes little sense to assemble a conglomerate of businesses and position one business unit as the sole value-charging entity, or even worse, to position another as the sole value-eroding unit. Each business unit must continue to function as a business. As such, each should maintain responsibility for at least one value-creating and one value-charging activity, with the head of the unit overseeing it.
