Its how well the they run the business based on assets. The...

Its how well the they run the business based on assets. The managers/eecutives of of the business, and any business for that matter should be judged by the returns achieved on their underlying assets.
Coles management had the horse, just the jockey to steer the horse over the years was poor. (The same goes for the other way, a superb jockey no matter how good they are cannot steer the reputation of a bad business out of trouble, as the reputation of the business is intact.)