Value-Based Performance Management

Christian Faupel

doi:10.1108/S1474-7871(2012)0000020014

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Advances in Management Accounting

ISSN: 1474-7871
Series editor(s): Professor Marc Epstein and Professor John Y. Lee

Subject Area: Accounting and Finance

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Value-Based Performance Management

Document Information:
Title:	Value-Based Performance Management
Author(s):	Christian Faupel
Volume:	20 Editor(s): Marc J. Epstein, John Y. Lee ISBN: 978-1-78052-754-3 eISBN: 978-1-78052-755-0
Citation:	Christian Faupel (2012), Value-Based Performance Management, in Marc J. Epstein, John Y. Lee (ed.) Advances in Management Accounting (Advances in Management Accounting, Volume 20), Emerald Group Publishing Limited, pp.187-208
DOI:	10.1108/S1474-7871(2012)0000020014 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Article type:	Chapter Item
Abstract:	Value-based management and the balanced scorecard are two of the most distinguished management concepts of the past decades. The main criticism levelled at value-based management is that it is rarely applied in business practice. By contrast, the balanced scorecard is mainly criticized for its insufficient integration into corporate strategy. The two concepts are occasionally described as competing business philosophies in management theory. This chapter offers an integrative view of value-based management and the balanced scorecard. The resulting ‘value-based scorecard’ incorporates the value-based business philosophy while creating a link between the scorecard and the ‘value–added’ corporate strategy. This minimizes a multitude of other critical aspects of both concepts. In light of this, it is recommended that both management theory and business practice further interpret or use the value-based scorecard presented in this study as a tool for value-based management.