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Management Control and Value-based Management: Compatible or not?

This paper elaborates on the effects of Value-based Management (VBM) on the Management Control System in three Dutch (multinational) organizations. The cases show that communication about the rationale of VBM and how it affects activities and decisions are more relevant for acceptance, than a metric-approach in which the calculations are explained into detail. In that view, other tools are used, such as Balanced Scorecards, value trees, or Activity-based Costing, while involving all functions throughout the entire organization, such as strategy, human resources, and production. What seems to be most important is that target setting, remuneration and rewarding are aligned with the value drivers, holding people accountable for the activities they control.