Value Management Studies

VBM is world-widely used by many advanced companies, such as AT&T, Pepsi Cola, United Carbon, FIAT, and so on. The ideas of value and value-making have penetrated into their management action and improved their development greatly. However as the great changes take place in the outside environment, the investors transfer their capital around the world quickly and conveniently, from the seller's market to the buyer's market, from the post-industrial era to the world-wide numerical era, in order to seek the largest profit. This tendency forces the directive theory of company management to innovate correspondingly, from seeking the largest profit and the largest market-portion in creasing index to seeking the largest shareholders' value. So the traditional company management must modernize itself, that's to say, change from the traditional management (production, production- management and management) to VBM. In order to accelerate this fundamental transmission, we should work on the theory-search first, and then work out a set of solution program, which is fit for the Chinese company.The essence of values management is making values. In other words, through bringing forth new ideas into company ruling-system technique and management during the production and management process, this society and economy. Nowadays, during the management can help the investors and other relevant profitable corporations gain the largest values and speed up the development of e current strategic adjustment of the state-owned companies, the idea of acquiring the values-direction management theory, practicing VBM, and realize the innovation both in the developing ways and the management ways, will optimize the capital-distribution, cultivate and promote the company's key competitive power, so as to remain and improve the value of the state and to enable the companies to develop constantly.Now, many researchers, both at home and aboard, have already work on this topic, but unfortunately, they have not work out a systematic theory yet, for theyalways focus their research on the field of financial management and explain this problem from the angles of capital budget, capital structure and management as well as annexation. In my point of view, VBM should connect with each management theory closely and penetrate into every section of management. Guided by VBM theory, this management can higher the management level and promote the company's competitive power comprehensive.The theory talked above guides my paper constantly and I'll divide the paper into four parts. In the fist part, I'll talk about the evolution of management; and then I'll discuss the fundamental principles of VBM. The key part of this paper is implementation of VBM. in the last part, I'll introduce some examples of companies at home and aboard which carry out this management type and gain enlightenment.