TechniqueActivism and governanceLetter
Activist margin arithmetic: headcount, cost per head and incremental margin, line by line
Build a margin case from countable inputs, headcount, cost per head and incremental margin on growth, so that every disagreement is about a number.
Activist situations, any margin expansion thesis, and the interview question of how you would improve a company's profitability.
From Starboard Value's letter to Autodesk shareholders on margins and board change · Jeffrey Smith