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RAVE(TM):: Integrated Value Management for Customer, Human, Supplier and Invested Capital

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  • Strack, Rainer
  • Villis, Ulrich

Abstract

Many companies have introduced new value-based methods such as the EVA(TM) or CVA concept for strategic and operational control. However, these concepts are still strongly focused on investment capital and can hardly explain and manage value creation in today's service and knowledge economy. This article presents a new, integrated value management concept (RAVE(TM)) for managing human capital (Workonomics(TM)), customer capital (Custonomics(TM)), and supplier capital (Supplynomics), all in a value-oriented and quantitative way. All of these concepts are anchored in CVA/EVA and thus culminate in the same central controlling metric. After outlining the concept, the authors illustrate its application and practical benefits with specific examples.

Suggested Citation

  • Strack, Rainer & Villis, Ulrich, 2002. "RAVE(TM):: Integrated Value Management for Customer, Human, Supplier and Invested Capital," European Management Journal, Elsevier, vol. 20(2), pages 147-158, April.
    • Handle: RePEc:eee:eurman:v:20:y:2002:i:2:p:147-158
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    Citations

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    Cited by:

    1. Friederike Wall & Gernot Mödritscher, 2012. "Integrationsnotwendigkeiten im Controlling bei der Transformation zum Lösungsanbieter," Schmalenbach Journal of Business Research, Springer, vol. 64(65), pages 128-152, January.
    2. Pavel A. Novgorodov, 2019. "Valuation of higher education institution’s intellectual capital: The issue of methodology," Journal of New Economy, Ural State University of Economics, vol. 20(1), pages 78-94, March.
    3. Paul Andon & Jane Baxter & Habib Mahama, 2005. "The Balanced Scorecard: Slogans, Seduction, and State of Play," Australian Accounting Review, CPA Australia, vol. 15(35), pages 29-38, March.

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