Abstract
This chapter summarises and discusses the findings and results gained throughout the study and outlines its main contributions to theory and professional practice, fostering a shared understanding of the value creation process within a lean system and thereby helping to remove existing barriers through the following measures:
-
Confirmation of the compatibility of LM and VBM approaches
-
Clarification of the key concepts of “value” and “value driver”
-
Provision of a sufficient lean value driver model
In addition, specific important findings concerning shareholders’ and managers’ roles within the value creation process are discussed in more detail. Finally, the quality of the study is assessed, its limitations are outlined, and avenues of future research are proposed.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
SMED, or ‘fast changeover’, is a method to reduce machine downtime when changing equipment from one product to another.
- 2.
Line balancing is levelling of work for every line segment according to a given rate of production in order to avoid bottlenecks or waiting time and to enable one-piece flow.
References
Amankwaa, L. (2016). Creating protocols for trustworthiness in qualitative research. Journal of Cultural Diversity, 23(3), 121–127.
Bhasin, S. (2011). Performance of organisations treating lean as an ideology. Business Process Management Journal, 17(6), 986–1011. https://doi.org/10.1108/14637151111182729
Bryman, A., & Bell, E. (2015). Business research methods (4th ed.). Oxford: Oxford University Press.
Charifzadeh, M., Taschner, A., & Bettache, A. (2013). Werttreiber lean production. Controlling & Management Review, 57(2), 48–57. https://doi.org/10.1365/s12176-013-0733-2
Creswell, J. W., & Miller, D. L. (2000). Determining validity in qualitative inquiry. Theory Into Practice, 39(3), 124–130. https://doi.org/10.1207/s15430421tip3903_2
Davis, J. W. (2009). Lean manufacturing: Implementation strategies that work. New York: Industrial Press.
Dyck, A., Lins, K. V., Roth, L., & Wagner, H. F. (2017). Do institutional investors transplant social norms? International evidence on corporate social responsibility. Journal of Financial Economics, Forthcoming; 2nd Annual Financial Institutions, Regulation and Corporate Governance Conference, Rotman School of Management Working Paper No. 2708589. https://doi.org/10.2139/ssrn.2708589
Gray, D. E. (2004). Doing research in the real world. London: SAGE.
Guba, E. G., & Lincoln, Y. S. (1994). Competing paradigms in qualitative research. In N. K. Denzin & Y. S. Lincoln (Eds.), Handbook of qualitative research (pp. 105–117). London: SAGE.
Harrison, J. S., & Wicks, A. C. (2013). Stakeholder theory, value, and firm performance. Business Ethics Quarterly, 23(1), 97–124. https://doi.org/10.5840/beq20132314
Hillman, A. J., & Keim, G. D. (2001). Shareholder value, stakeholder management, and social issues: What’s the bottom line? Strategic Management Journal, 22(2), 125–139. https://doi.org/10.1002/1097-0266(200101)22:2<125::AID-SMJ150>3.0.CO;2-H
Ittner, C. D., & Larcker, D. F. (2001). Assessing empirical research in managerial accounting: A value-based management perspective. Journal of Accounting and Economics, 32(1/3), 349–410. https://doi.org/10.1016/S0165-4101(01)00026-X
Ittner, C. D., & Larcker, D. F. (2003). Coming up short on nonfinancial performance measurement. Harvard Business Review, 81(11), 88–95.
Ittner, C. D., Larcker, D. F., & Randall, T. (2003). Performance implications of strategic performance measurement in financial services firms. Accounting, Organizations and Society, 28(7/8), 715–741. https://doi.org/10.1016/S0361-3682(03)00033-3
Liker, J. K. (2004). The Toyota way: 14 management principles from the world’s greatest manufacturer. New York: McGraw-Hill.
Lincoln, Y. S., & Guba, E. G. (1985). Naturalistic inquiry. Newbury Park, CA: SAGE.
Lueg, R., & Schäffer, U. (2010). Assessing empirical research on value-based management: Guidelines for improved hypothesis testing. Journal Für Betriebswirtschaft, 60(1), 1–47. https://doi.org/10.1007/s11301-009-0055-9
Maslow, A. H. (1970). Motivation and personality (2nd ed.). New York: Harper & Row.
Meade, D. J., Kumar, S., & White, B. (2010). Analysing the impact of the implementation of lean manufacturing strategies on profitability. Journal of the Operational Research Society, 61(5), 858–871. https://doi.org/10.1057/palgrave.jors.2602657
Morse, J. M. (2015). Critical analysis of strategies for determining rigor in qualitative inquiry. Qualitative Health Research, 25(9), 1212–1222. https://doi.org/10.1177/1049732315588501
Morse, J. M., Barrett, M., Mayan, M., Olson, K., & Spiers, J. (2002). Verification strategies for establishing reliability and validity in qualitative research. International Journal of Qualitative Methods, 1(2), 13–22. Retrieved from https://journals.library.ualberta.ca/ijqm/index.php/IJQM/article/view/4603/3756
Murman, E. M., Allen, T., Bozdogan, K., Cutcher-Gershenfeld, J., McManus, H., Nightingale, D. J., … Widnall, S. (2002). Lean enterprise value: Insights from MIT’s lean aerospace initiative. New York: Palgrave.
Neely, A., Marr, B., Adams, C., & Kapashi, N. (2002). Measuring eBusiness performance. In A. Neely (Ed.), Business performance measurement: Theory and practice (pp. 343–360). Cambridge: Cambridge University Press.
Nightingale, D. J., & Srinivasan, J. (2011). Beyond the lean revolution: Achieving successful and sustainable enterprise transformation. New York: American Management Association.
Ohno, T. (1988). Toyota production system: Beyond large-scale production. Cambridge, MA: Productivity Press.
Ponterotto, J. G. (2006). Brief note on the origins, evolution, and meaning of the qualitative research concept thick description. The Qualitative Report, 11(3), 538–549. Retrieved from https://nsuworks.nova.edu/tqr/vol11/iss3/6/
Queen, P. (2015). Enlightened shareholder maximization: Is this strategy achievable? Journal of Business Ethics, 127(3), 683–694.
Rieg, R. (2015). Dynamics of value-based management: Does shareholder value cause short-termism? Journal of Management Control, 26(2/3), 193–224. https://doi.org/10.1007/s00187-015-0211-4
Sandanayake, Y. G. (2009). Development of a model for performance measurement in just-in-time enabled manufacturing environments (Unpublished doctoral thesis). University of Wolverhampton. Retrieved from http://hdl.handle.net/2436/69605
Saunders, M., Lewis, P., & Thornhill, A. (2015). Research methods for business students (7th ed.). New York: Pearson.
Seale, C. (1999). Quality in qualitative research. Qualitative Inquiry, 5(4), 465–478. https://doi.org/10.1177/107780049900500402
Seyedhosseini, S. M., Taleghani, A. E., Bakhsha, A., & Partovi, S. (2011). Extracting leanness criteria by employing the concept of balanced scorecard. Expert Systems with Applications, 38(8), 10454–10461. https://doi.org/10.1016/j.eswa.2011.02.095
Shento, A. K. (2004). Strategies for ensuring trustworthiness in qualitative research projects. Education for Information, 22(2), 63–75. https://doi.org/10.3233/EFI-2004-22201
Stake, R. E. (2010). Qualitative research: Studying how things work. New York: Guilford Press.
Womack, J. P., & Jones, D. T. (2004). Lean thinking: Ballast abwerfen, Unternehmensgewinne steigern. Campus Verlag: Frankfurt am Main.
Wu, Y. P., Thompson, D., Aroian, K. J., McQuaid, E. L., & Deatrick, J. A. (2016). Commentary: Writing and evaluating qualitative research reports. Journal of Pediatric Psychology, 41(5), 493–505. https://doi.org/10.1093/jpepsy/jsw032
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Switzerland AG
About this chapter
Cite this chapter
Kaufmann, G. (2020). Discussion of the Alignment of Lean and Value-Based Management. In: Aligning Lean and Value-based Management. Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-030-38467-8_6
Download citation
DOI: https://doi.org/10.1007/978-3-030-38467-8_6
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-38466-1
Online ISBN: 978-3-030-38467-8
eBook Packages: Business and ManagementBusiness and Management (R0)