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  1. 1 Ekonomika i Organizacja Przedsiębiorstwa

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  1. 1 Pietrewicz L.

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  1. 1 2008

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Pitfalls of Value Based Management (VBM)

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Pietrewicz L.
Ekonomika i Organizacja Przedsiębiorstwa
|
2008
|
issue 2(697)
83-88
EN
The paper evaluates the practice of value-based management (VBM). Two fields of potential weaknesses are studies: (1) implementation and (2) effects of VBM in the company. The author's findings show a number of pitfalls in applying VBM. The most relevant are: impossibility of objective determination of the best value measure, technical difficulties in implementation of value measures (related to identification of capital cost and value of capital employed), myopia and focus on effectiveness at the expense of creativity, what leads to a decrease of efficiency in the long term.
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