The challenge of moving value management concepts and practices from the corporate offices into the business units has remained difficult. These failures are even more frustrating when the results of implementations have demonstrated a sustainable competitive advantage to those who have succeeded in developing a value management culture. What are the key differences between the espousers of free cash-flow and the truly fully integrated implementations? In this newsletter, L.E.K. Consulting spotlights some key pitfalls that impede or block the development of a shareholder value focused culture and provides practical suggestions for avoiding these problems.