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Value Based Management At Siemens €“ The Classic Example Remains

Author

Listed:
  • Diana Claudia Cozmiuc

    (West University, Timi?oara, Romania)

  • Ioan Petri?or

    (West University, Timi?oara, Romania)

Abstract

The main objective of this paper is to check if value-based management in its classic design, 1980-2000, still works in the practice of one of its most prominent cases, Siemens. The paper also aims to describe value-based management in Siemens’ practice 1998-2020. This should enable a comparison between theory and practice the paper targets. The research methodology is case study: literature review, empirical data analysis, conclusions based on comparison. The case study is exploratory and descriptive. The article relies on secondary evidence about Siemens during 1998-2020, selects the evidence that pertains to value-based management and constructs the Siemens case example. The article is based on a large body of evidence, where the statements about value based management are chosen based on their relationship to key words such as value, value drivers, value creation. The results may be the confirmation or denial of classic value-based management. The conclusion is that managing for Economic Value Added still works in the current business context. Other findings are Siemens’ driver tree during 1998-2020 in thorough description.

Suggested Citation

  • Diana Claudia Cozmiuc & Ioan Petri?or, 2020. "Value Based Management At Siemens €“ The Classic Example Remains," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(2), pages 32-50, June.
    • Handle: RePEc:rom:bemann:v:10:y:2020:i:2:p:32-50
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    References listed on IDEAS

    as
    1. Ittner, Christopher D. & Larcker, David F., 2001. "Assessing empirical research in managerial accounting: a value-based management perspective," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 349-410, December.
    2. G. Bennett Stewart, 2003. "How To Fix Accounting—Measure And Report Economic Profit," Journal of Applied Corporate Finance, Morgan Stanley, vol. 15(3), pages 63-82, March.
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