The arrangement of multi value dimensions in the value measurement system from the stakeholder perspective

Viktorija Varaniute, Edita Gimazauskiene

Abstract


The organization’s activities are influenced by various factors such as the external environment, the available resources, relations with stakeholders and others. All this shows that the organization generates different organization’s value creation. Value creation is important because it relates to the achievement of business objectives and subsequently promotes economic growth, but on the other hand, value creation must be sustainable, “fulfilling the demand”, to meet the needs of the present without compromising the ability of future generations to meet their own needs. This means that there is a necessary of the instrument, which not only meet these requirements, but which also enable to align all stakeholders’ goals and expectations and to ensure the organization’s value management. For this purpose is used the value measurement system, which can be define as indicators and assessment methods set, which could be designed to ensure the information base needed to corporate value management decisions, and to ensure the received information spread to stakeholders.

Purpose. The main purpose of the paper is to identify the priority organization’s multi value dimensions, which have be included in the organization’s value measurement system, which enables to ensure the sustainable management of the organization’s value.

Methodology. The priority organization’s multi value dimensions, which must be included in the value measurement system, are identified and selected using experts’ survey and data analysis and interpretation. For the expert survey is structured a questionnaire, which is submitted to the selected organizations’ managers and representatives of different stakeholders. For the data analysis and interpretation is used the SPSS program, along with a cross-analysis of the data.

Results. The main result of the research is identified the priority organization’s multi value dimensions, which have to be included in the organization’s value measurement system. The cross-analysis of the organization’s multi value dimensions revealed that there are such organization’s value dimensions, which are equally important to the organization and to different stakeholders. This is the main reason that the common set of organization’s multi value dimensions must be included in the organization’s value measurement system. The common organization’s multi value dimensions lead to the alignment of all stakeholders’ goals and expectations and to ensure the organization’s value management, which can lead to higher economic growth and wider capabilities of the organization.

The theoretical contribution. Theoretically, the research of the value measurement system elaborates the notion of the multiple value dimensions interaction relating it to value measurement system development.

Practical implications. Practically, the research of the value measurement system helps to understand the conditions and the challenges to develop the organization’s value management. The results of paper supports the overall recognition of multiple value creation as a powerful mechanism to gain competitive advantage for organizations.

Keywords: value, dimensions, measurement system.

Paper type: Research paper.


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