Value investing


The company is viewed as an investment to be measured by its ability to (i) generate profitable return of capital allocated to it and (ii) attract potential stakeholders

VCST and Business Model

It is a comparative analysis. It looks into the target market and whether there are sustainable long-term competitive advantages (VCST), how to create or gain them and, if there are none, how to react by focusing on organisational efficiency. The tactical and operational choices made when creating the Business Model are entirely based on the results of a strategic analysis of competitive advantages


Defining the current and future positioning of the company in the markets in which it intends to compete. An assessment is made as to how competitive advantages are distributed among players, also taking into consideration interactions with other market actors: competitors, clients, suppliers and substitute products

Value Creation

Allocate the company's resources to:

  1. maximise returns and «E.V.A.» (Economic Value Added)
  2. protect / strengthen its competitive advantages and its ability to manage other market forces
  3. protect market shares

Effective M&A

Support the company in M&A activities resulting from its strategic and value creation choices


Having one or more VCSTs is also essential in order to be able to assess whether the company should enter a domestic or foreign capital market. This analysis is aimed at guiding the company in entering an Italian or foreign capital market so that it can enhance its development potential and become more appealing to stockholders and stockholders