Value Based Management and the Multi-Dimensionality of Value : Attempting to Overcome the Restrictions of Today's Value Based Management

We argue that a multi-dimensional value framework will help Value Based Management (VBM) to return on the right track. Unfortunately, today's VBM is predominantly restricted to the logic of shareholder satisfaction. As a consequence, corporate decision-making is mainly influenced by the future prospects of adding value to invested capital. But we will show that there exist an immense variety of value sources that also need to be included to fully assess corporate value added. Only by broadening VBM's present perspective on value, it can again be seen as a helpful guideline to secure corporate sustainability