VALUE-BASED MANAGEMENT - MANAGEMENT SYSTEM OF MODERN ECONOMY
The dynamism of the current economic environment requires companies a new way of approaching business, especially given that the traditional management fails to provide a clear and accurate picture of actual performance achieved. It is necessary thus implementing a value-based management, oriented to maximize the shareholders wealth, the value of the company. This management system uses specific management techniques and specific performance measurement tools, elements of organizational culture, contributing to good internal and external communication of the company. The value-based management principles must include all aspects of the company life, for it to adapt to changes in economic and financial environment. The value-based management focuses on improving decision-making process at all levels of a company, asking managers to use performance measurement tools based on the value to make the best decisions.
Year of publication: |
2011
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Authors: | Student, Assist. Angela Ogarc Ph. D |
Published in: |
Annals of University of Craiova - Economic Sciences Series. - Facultatea de Economie şi Administrarea Afacerilor, ISSN 1223-365X. - Vol. 2.2011, 39, p. 147-150
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Publisher: |
Facultatea de Economie şi Administrarea Afacerilor |
Subject: | traditional management | performance | value created | stakeholders | decision- making process | value-based management |
Saved in:
freely available
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