Management and Finance

Strategic management and finance
The expectations of owners relate to financial aspects of operations of a business. Increasingly, the primary objective of a company is to ensure sustainable value growth. For this reason, management and finance are key strategic elements in companies as well as a daily challenge for every organization.

One of the ideas to combine both these elements is Value Based Management (VBM), as it focuses on comprehensive value management of an organization. This method is based on search for value and effective enterprise management in every aspect of its business. Value creation (in many aspects) is an overarching concept for this financial goal, and at the same time a strategy. This basic quest is defined for different levels of an organization.

According to many practitioners in management, such an approach gives the best chance to create sustainable competitive advantage and thereby achieve business objectives. This does not mean that value management is the recipe ensuring effective management of any company in any market situation. The idea of VBM defines a way of looking at the organization, giving the opportunity to identify the sources of goodwill and the optimal allocation of resources in the most efficient manner.

The above-mentioned elements, together with the philosophy of continuous measurement of outcomes in the long term, are crucial in formulating the business strategy, as well as help design and implement an effective system of management that gives an opportunity to modify assumptions as well as a systematic framework for managing learning organizations.