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What are the benefits of vbm for management


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What are the benefits of vbm for management

  1. 1. What are the Benefits of VBM for Management?By moving from an autocratic to a more participatory, value-based mode, a companys leadership can spreadaround some of managements typical operational "headaches." This gives managers more time to focus on thecompanys long-range, strategic needs, rather than spending most of their time putting out brush fires.What are the Benefits of VBM for employees?A workplace that operates according to the principles of Value-Based Management empowers employees asworkers and as owners. VBM creates a corporate culture where work can be more satisfying and economicallyrewarding.What are the Benefits of VBM for Labor Unions?Just as VBM involves a transformation of the modern corporation, it also involves the transformation of laborunions within VBM companies, offering labor representatives new and more important roles than they haveplayed within the adversarial wage system culture. Unions can help deliver a higher degree of economic justiceand far greater rights for their members than the "crumbs" now bargained for within the framework oftraditional labor-management bargaining.What are the Benefits of VBM for the Company as a Whole?Experience within a growing number of companies indicates that the more that peoples self interests are unifiedwithin a management system reflecting the principles of Value-Based Management, the greater customer andemployee satisfaction will be. From this can flow increased cost savings, increased sales, and increased profits.The success of Value-Based Management comes when each person, from the CEO and supervisor to themachine operator and receptionist, feels that they own and benefit from the process and can share the results asmembers of a VBM team.