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Value-Based Management - Management System Of Modern Economy

Author

Listed:
  • Assist. Angela Ogarc Ph. D Student

    (University Spiru Haret Faculty of Finance and Banking Bucharest, Romania)

Abstract

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.

Suggested Citation

  • Assist. Angela Ogarc Ph. D Student, 2011. "Value-Based Management - Management System Of Modern Economy," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(39), pages 147-150, May.
    • Handle: RePEc:aio:aucsse:v:1:y:2011:i:4:p:147-150
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    File URL: http://feaa.ucv.ro/AUCSSE/0039v2-017.pdf
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    More about this item

    Keywords

    traditional management; performance; value created; stakeholders; decision- making process; value-based management;
    All these keywords.

    JEL classification:

    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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