Please provide some help analyzing "Value-Based Management". What's Value-Based Management and how they work? Why is it important for companies to have Value-Based Management? Are Value-Based Managements good or bad for corporate valuations? What are some of the advantages/disadvantages having Value-Based Management?
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What is Value-Based Management and how they work?
An online source noted that value-based management is a comprehensive approach, a business philosophy, and a management system for competing effectively in today's global market place and centers on the inherent values and dignity of the person (http://cog.kent.edu/lib/cesj1.htm ).
The approach is said to be consistent with market-oriented theory of economic justice - it provides workers the opportunity to participate as shareholders in company growth and profitability.
In order to have an effective value-based management, the same online source noted that there is a need for a genuine leader who sees himself as both a servant and a teacher (http://cog.kent.edu/lib/cesj1.htm ). This indicates that a manager should be both a leader and a follower. As a leader, he must be able to develop the potentials of the subordinates through empowerment. As a teacher, he must be able to educate or impart knowledge to workers. This leads to empowerment and development of employee potentials.
Importance of Value-Based Management
Considering that ...
Value-based management nature and importance is examined in the solution.