This paper describes how customer asset management can influence the profit and loss and the balance-sheet drivers of shareholder value. The authors argue that economic profit should be used as a measure of shareholder value creation because the former acknowledges both operating and financial expenses and allows analysis of individual customer relationships. The developed framework suggests that the drivers of shareholder value can be divided into four main categories: revenue, cost, asset utilization, and risk. The paper identifies 13 distinct roles for customer asset management that influence the four shareholder value drivers. The empirical research consists of three longitudinal B2B case studies describing customer asset management aimed at improving shareholder value creation. The findings of the empirical research suggest that B2B firms are able to acknowledge all suggested four shareholder value drivers. Findings also suggest that firms should differentiate their customer management concepts in order to move customer asset management beyond traditional acquisition–retention optimization.

This research examined the effect of KHD Leadership toward Sustainable Shareholder Value and mediated by IT & Business Strategy Alignement and Integrated Supply Chain Management. Therefore, with this research, it is expected to be able to develop the KHD Leadership in State-owned enterprises’ (SOEs) Indonesian. The population in this study were all echelon 1, 2, and 3 employees in the PT Pupuk Kalimantan Timur, PT Pupuk Petrokimia Gresik, PT Pupuk Sriwidjaja Palembang, PT Pupuk Kujang Cikampek, PT Pupuk Iskandar Muda, as many as N = 1002 people. The appropriate sampling technique used is Proportional Stratified Random Sampling (n=300 employees). The statistical analysis used is SEM-WarpPLS method. IT & Business Strategy Alignement and Integrated Supply Chain Management significant and positive on Sustainable Shareholder Value. IT & Business Strategy Alignment and IT Integrated Suppy Chain Management is a mediating variable between the influence of KHD Leadership on Sustainable Shareholder Value. Novelty in this research is the development of Ki Hadjar Dewantara Leadership as the development of the concept of Javanese leadership that grows inherent in Indonesian society, especially Javanese society and is believed to be applicable in business and industrial organizations in Indonesia, of course it can also be implemented in Pupuk Indonesia Holding Company.