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Value-based management. Edition No. 1
VDM Publishing House, July 2009, Pages: 380
This book describes and analyses
value-based management (VBM). While previous
research has focused on the measures, eg. EVA,
advanced in the normative VBM literature, it is
demonstrated that VBM can be understood to concern
more than just measurement. Beyond a revision of
measurement aspects, it is shown that the advocates
of VBM argue for an alteration of management process
aspects as well. Case-based evidence from six
self-proclaimed adopters leads to the conclusion
that VBM benefits from a consideration of
measurement and management process aspects in
tandem. Depending on the design characteristic
revisions brought about by the adoption, it is
suggested that VBM can result in four different
orientations – a measurement orientation, a
reengineering orientation, a status quo orientation
and a management orientation. The results show that
the adoption of VBM has resulted in more extensive
design characteristic revisions than reported in
previous research. Even so, it is demonstrated that
there are reasons for moderating the merits ascribed
to VBM.
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