Value Based Management

The course focuses on the network of connections established and on the dependencies between resources, processes and products that have an impact on the valorisation or depreciation of the company's value. Practical analysis of selected companies and group work on specific case-studies using the tools and methods presented at the seminar will equip students with knowledge and skills that they will be able to apply in the future in the companies in which they will work or organisations with which they will cooperate.

1. Introduction to Value-Based Management; searching for an idea to increase the value of the company; stakeholder groups; Creating Shared Value (CSV); Corporate Social Responsibility (CSR); Environmental, Social & Governance (ESG).

2. Blue Ocean Strategy; key success factors; vision; mission.

3. SCOPE Planning; models of development strategies; value for clients; key processes.

4. 7S Framework of McKinsey.

5. The Balanced Scorecard; long-, medium- and short-term goals; combining processes.

6. Organic and external growth; mergers and acquisitions; due diligence.

7. Financial and operational leverage; the theory of the agency; risk; investments; traditional methods of companies valuation; capital market.

8. EVA method, MVA method; critical approaches.

9-10. Students' presentations - summary of the analysis of the selected listed companies.

Ameels, A., Bruggeman, W., & Scheipers, G. 2002. Value-Based Management: Control Processes to Create Value Through Integration. Leuven: Vlerick Leuvent Gent Management School.

Cunha Pinto, da, T., & Machado-Santos, C. 2011. “An Analysis of the Correlation Between EVA® and MVA®: The Case of a NYSE Euronext Lisbon Listed Company.” Global Journal of International Business Research 4(4): 69-79.

Copeland, T., & Dolgoff, A. 2005. Outperform with Expectations-Based Management. Hoboken: Wiley.

Elgharbawy, A., & Abdel-Kader, M. 2013. "Enterprise governance and value-based management: a theoretical contingency framework." Journal of Management & Governance 17: 99–129.

Hoag, B., & Cooper, C.L. 2006. Managing Value-Based Organizations: It’s Not What You Think. Cheltenham: Edward Elgar.

Hofstede, G, Hofstede, G.J., & Minkov, M. 2010. Cultures and Organizations: Software of the Mind. London: McGraw-Hill.

Holler, A. 2009. New Metrics for Value-Based Management: Enhancement of Performance Measurement and Empirical Evidence on Value-Relevance. Wiesbaden: Gabler.

Kaplan, R.S., & Norton, D.P. 2005. “The Balanced Scorecard: Measures that Drive Performance.” Harvard Business Review July-August, No. 4096: 1-10.

Kim, W.Ch., & Mauborgne, R. 2005. Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Boston: Harvard Business School Publishing Corporation.

Márquez, A.C., Macchi, M., & Kumar Parlikad, A. (Eds.) 2020. Value Based and Intelligent Asset Management: Mastering the Asset Management Transformation in Industrial Plants and Infrastructures. Cham: Springer.

Martin, J.D., Petty, J.W., Wallace, J.S. 2009. Value-Based Management with Corporate Social Responsibility. 2nd Edition. Oxford: Oxford University Press.

Pidun, U. 2010. "Value-Based Management of the Innovation Portfolio". In: Gerybadze A., Hommel U., Reiners H., & Thomaschewski D. (Eds.) Innovation and International Corporate Growth. Heidelberg: Springer.

Rasiel, E.M, & Friga, P.N. 2002. The McKinsey Mind: Understanding and Implementing the Problem-Solving Tools and Management Techniques of the World’s Top Strategic Consulting Firm. London: McGraw-Hill.

Russ, R. 2001. “Economic Value Added: Theory, Evidence, a Missing Link.” Review of Business, Summer: 66-70.

Starovic, D., Cooper, S., & Davis, M. 2004. Maximising Shareholder Value: Achieving clarity in decision-making. London: The Chartered Institute of Management Accountants.

Webster, D.W., & Cokins, G. 2020. Value-based management in government. Hoboken: John Wiley & Sons.

Yücesan, E. 2016. Competitive Supply Chains: A Value-Based Management Perspective. 2nd Edition. Basingstoke: Palgrave Macmillan.