1. Company Presentation
Expert Opinion Area

2. Our company
Focus Management has been founded in 1996, by Sandro Castaldo, Marketing Department Director at
Bocconi School of Management (until December 2009), with the help and support of some members of the
Bocconi faculty.
Focus Management merges the methodological rigor of its academic roots and the brilliancy of its dynamic
consultants.
The company is specialized in management consulting, and is
tightly linked to an international network of professors and
consultants.
Our major activity consists in supporting international and local
firms facing competitive and organizational challenges, from the
problem analysis phase, to solution proposal, strategy
implementation and output control.
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3. Our values, your value
Enactment
Innovation
Methodological
rigor
Integrated
Energy consulting
Working
Uniqueness
partnership
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4. Our customers around the world
Our customers and their subsidiaries are present all over the globe. Working with them we have learnt, on the
one hand how to cope with international organizational problems, and on the other hand how to take advantage
of such internationality and create inter-subsidiary synergies..
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5. Our main consulting areas
Channel & Sales
Management
Organization & H.R.
General Management
Marketing
Expert Opinion
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6. Focusing attention on the Expert Opinion area
Focus Management’s expertise consists of providing support to customers in the crucial process of
defining value. The process is guaranteed by rigor and an unbiased scientific and methodological
approach, together with specialized multidisciplinary skills.
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7. Why Focus Management
This is where Focus Management makes the difference:
 During a project, results are constantly monitored with the client. By working so closely together
we are able to adapt the project as we go along, and therefore quickly and efficiently fulfill the
client’s needs.
 The heart of Focus Management is strategic consulting, which is also essential for the Expert
Opinion area. Through our pragmatic approach we openly share our knowledge. As a
consequence, our clients can take advantage of our expertise in a number of areas, such as
marketing, sales and channel management, H.R. management, etc.
 Our quantitative approach is based on rigorous analysis, and results are always tested and
validated using the most recent tools for statistical analysis.
 Our closeness with the academic world lets us face any challenge by starting from a sound
theoretical basis. Moreover, it allows us to take advantage of a strong and ever growing
international network of contacts.
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8. Some examples of project implementation - Intangible asset valuation
Intangible asset valuation
The weigth of intangible assets in today’s economic context is growing greater and greater, along with the
increasing complexity of the competitive environment. When valuing a brand, goodwill or other intangibles,
Focus Management not only takes care about “numbers”, but also draws on its experience in managing the
real drivers that underlie of the intangible value (as for example, marketing plans, relationship
management, distribution strategy, channel management, etc.). Moreover, for any valuation we try to apply
different methods, providing a range of values instead of a single value, in order to reach the highest level
of reliability.
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9. Some examples of project implementation - Company valuation
Company valuation and Impairment test
Valuing a company (or a subsidiary or a divison) means to deeply understand the hypothesis on which
cash flow forecasts are based. This is particularly true when most of the company’s value underlies
intangible assets. In this cases, Focus Management’s expertise with regard to trust based resources and
customer relationship management originates from a strong academic background, supporting the overall
reliability of the entire valuation process. With specific regard to the impairment test, even if business plans
are provided by the client itself, the valuation process identifies the main value drivers and performs stress
tests and sensitivity analyses in order to highlight the consequences, in terms of value, of a number of
worst case unpredictable scenarios.
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10. Some examples of project implementation - R&D and patent valuation
R&D programs and patent valuation
When valuing R&D programs and patent, Focus Management analyses
the whole value chain, after the initial idea generation phase. It is essential
to recognize all efforts (not only from a financial standpoint) that have
been done to let patents come to life. Risk distribution among the parties
analyzed in depth: if possible, a graduated scale of risk intensity is
adopted, favoring an independent, objective approach when splitting
profits and/or sharing costs related with R&D activities.
In cases when the valuation involves transactions between non-
independent parties, different methodologies are tested, in light of the
international regulations regarding transfer pricing policies.
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11. Some examples of project implementation - Financial restructuring
Financial restructuring
When a company faces financial restructuring, the rebalancing of the financial structure is just a first step. It
should be conducted with a more strategic approach. The origins of issues must be investigated, in order to
set a new strategy after debt renegotiation. In these cases Focus Management, as a strategic consulting
firm, can count on its DNA, focusing on strategic aspects beyond only the financial concerns. Moreover,
Focus Management can assist the client in the implementation of the restructuring program, considering that
our company’s international network includes a number of private equity firms and asset managers.
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12. Some examples of project implementation – Litigation and damage valuation
Damage valuation and support in case of pending litigation
Focus Management provides assistance for accounting and for
financial matters arising from existing or pending litigation. Our
expertise covers a number of areas, as for example damage
valuation, valuation of business interests in shareholder and
partnership disputes (i.e. joint ventures), loss valuation as a
consequence of business interruption, losses from contract
disputes, damages suffered for trademark and patent
infringements, etc.
Together with the most affirmed law firms, we provide support for
settlement negotiations and for cases involving notifications and/or
disputes with national and international fiscal authorities. Our
analyses benefit from our academic background, starting from the
basic principles of the economic discipline, with the aim to provide
objective and independent valuations.
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13. Some examples of project implementation – Transfer Pricing
Valuation of transfer pricing policies
Globalization and company growth in size, make facing transfer pricing issues more and more urgent. Focus
Management, together with the company’s tax consultants, assists the client in setting infra-group prices
according to international regulations. In order to assure maximum reliability of our studies, we perform our
analysis from an objective and independent point of view, adopting a strong, quantitative approach. Results
are corroborated by unbiased statistical analysis. At the same time, as a strategic consulting firm, we
support clients in re-defining, if useful, the distribution strategy and the channel management in various
countries where the company is present.
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14. Team: professionals with strong, specific background
Sandro Castaldo, Focus Management’s founder. He is a full Professor in Management at Bocconi
University of Milan and former Director of the SDA Bocconi Marketing Department. He is faculty
member for the MBA full time program and EMMS. His research has focused on marketing
relationships and channel management, customer trust. Among the main books: Trust in Market
Relationships, Edward Elgar, Cheltenham, UK, 2007; Channel marketing, Il Mulino, Bologna, 2005 (in
Italian); Loyalty Management in Retailing, (co-authored by C. Mauri), Egea, Milan, 2002 (in Italian).
Antonella Pirro, a Focus Management partner. She collaborates with SDA Bocconi. Since 1993, she
has worked as a consultant with a specialization in channel management. She has solid experience
that covers, in particular, transfer pricing studies carried out for multinational groups.
Fabrizio Nava, a Focus Management consultant, responsible for the Tax & Finance area. He is a
specialist in finance and evaluation models. He has experience, as a project manager, for a number of
projects regarding complex valuation issues.
Antonella De Giuseppe, a Focus Management consultant. She has a strong quantitative background,
with experience in statistical analysis.
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15. Team: our international network
Focus Management's international network includes both very renowned professors and brilliant consultants,
with whom we have a constant flow of information and ideas. We strongly believe that such an exchange of
opinions is the best way to continuously learn and enhance our knowledge, in order to better serve our
customers.
London
Dartmouth, NH Köln
Paris
Milano
Boston, MA
New York, NY Barcelona
Gainesville, FL
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16. www.focusmanagement.it
info@focusmanagement.it
Milano
20122 – Corso Italia, 17
Tel. +39 02 58.31.63.22 - Fax +39 02 58.31.52.76
E-fax 06 91.59.39.86
Lecce
73100 - Viale Aldo Moro, 59
Tel. +39 0832 37.21.04 - Fax +39 0832 45.76.22
E-Fax 06 91.59.39.86
Benevento
82100 - Via Clino Ricci, 3