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2021 | OriginalPaper | Buchkapitel

7. Management and the Value Added

verfasst von : Živko Bergant

Erschienen in: Accountancy and Social Responsibility

Verlag: Springer International Publishing

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Abstract

In this chapter, management is positioned in a business process through three partial systems. A comprehensive model of management is built including its four dimensions (organization, leadership, ethics and risk). Management model on the basis of the value added regarding sustainable development is proposed. It is show also from cybernetic point of view. Special emphasis is given to human resource management regarding value added. It is stressed that employees in business bear relatively the greatest risk. They are important holders of intellectual capital and long-term interests. Therefore, they are legitimate contributors to an organization’s controlling system. Investment decisions are discussed from value added point of view. A model of comprehensive financial policy is proposed with the emphasis on its capital adequacy.

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Fußnoten
1
More about these differences in Epstein and McFarlan (2011).
 
2
The term “employees” encompasses all kinds of their work in an organization, including precarious work. More about precarity in Garben (2019).
 
3
It is difficult to attribute the entire difference between the market value and the book value of an individual company to intellectual property, partly because of the unrealistic presentation of intangible assets, partly because of the changing market value of a share (Brennan 2001).
 
4
More about history of intellectual capital in: Dumay et al. (2020).
 
5
Defined in Sect. 5.​4.
 
6
Defined in Sect. 6.​6.
 
7
More on those theories in: Samuels et al. (1995), Arnold (1998), Bessler et al. (2011) and Brigham et al. (1999).
 
8
More about the empirical problems of small probability in Taleb (2009, p. 748) and Taleb et al. (2009, p. 78).
 
9
Spontaneous receivables depend only on changes in the volume of business.
 
10
Here we follow the principle of fairness as more important (Rawls 1917, p. 347) than the principle of rationality (Rawls, 2011, p. 244). It means that debts should be paid (Kilpi 1998, p. 17).
 
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Metadaten
Titel
Management and the Value Added
verfasst von
Živko Bergant
Copyright-Jahr
2021
DOI
https://doi.org/10.1007/978-3-030-77928-3_7