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Value-based management 175
time need to be made in order to educate properly as many of the
employees as practically possible. Only when employees understand
VBM will it be trusted and gain support.
Make it simple. Implementing VBM is an extensive exercise and it
should be simplified as much as possible. It is vital that as many as pos-
sible in the company understand the VBM programme and how the
incentive programme works. Take time to ensure that the information
regarding the programme is easily understood and readily available.
VBM should be a company-wide programme for the daily run-
ning of the business. The real benefits from VBM do not usually come
from using it to decide whether capital investment projects ...