Who can make the demands on the company –Why ROI and Share Holder Value Program –Why new Financial Ratios? –Owners/share holders need: dividend 200*0.1 => 20 Eur –Lenders e.g. banks need interest => 50 Eur –Company itself, retained earnings => 20 Eur (need for R&D expenses 5-6% e.g. in car industry) Tax authority, income tax 60% => 60 Eur Grand total: 150 Eur Total shareholder return target …