Value Based Management: A Challenge for Russian Managers

Authors

Abstract

The paper discusses key distinctive features of value based management (VBM), how it challenges the analysis of the firm and the treatment of its capital. The arguments to think about VBM as modern managerial innovation and major lessons for the Russian firms derived from the VBM’s innovative nature are provided. The author presents her vision of VBM as a system with five key components, the specific VBM cycle and a set of financial models and consultancy products. The paper discusses the challenges to strategic process within the firm due to VBM, the need for financial measurement of growth and for new approaches to the quality of growth assessment, focused on «multidimensional» growth. The author develops her vision for the shift in the analytical paradigm of the management teams of Russian firms and formulates the objectives for introducing value based approach.

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References

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Российский журнал менеджмента, Том 2, №4, 2004

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Published

2004-12-08

How to Cite

Ivashkovskaya, I. V. (2004). Value Based Management: A Challenge for Russian Managers. Russian Management Journal, 2(4), 113–132. Retrieved from https://rjm.spbu.ru/article/view/781

Issue

Vol. 2 No. 4 (2004)

Section

Practice of Management

License

Articles of the Russian Management Journal are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.