Value-Based Management As The Innovating Paradigm Of Contemporary Governance – A Theoretical Approach

The magnitude and the dynamism of economic, political and social phenomena and the spectacular challenges of the 21st century have led to new approaches of the corporate performance management and to the development of new paradigms. Valuebased management (VBM) has emerged as a viable alternative to the various management systems focused on increasing performance which have not recorded the aimed results subsequent to shortcomings of conceptualization, evaluation mechanisms or the concrete possibility of implementation. This article aims to present a theoretical approach of VBM as the complex management philosophy able to offer a holistic solution for achieving performance.