文档介绍：EVA® - Volkswagen 2003 (12 March 2003)
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Executive Director Financial Planning and Cost Accounting Cost and Planning Financial Director Executive
Value Based Management at Volkswagen
Teach In - 12 March 2003, Wolfsburg - 2003, March 12 In Teach
Member of the Board of Management
VOLKSWAGEN AG
Mr Wolfgang Schneider Mr Wolfgang
Mr Hans Dieter Pötsch
EVA® - Volkswagen 2003 (12 March 2003)
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(Hans Dieter Pötsch) Value Based Management at Volkswagen
Discussion Schneider) (Wolfgang Volkswagen Origin and Development of the Economic Value Added at
–EVA 2002 - 2001 Added Value Economic the of Analysis – concept the of Explanation – Volkswagen at Investment on Return – Volkswagen for management based value of Importance – at System Management Financial the of development Future –
Agenda
Volkswagen
®
as a management tool at Volkswagen at tool management a as
EVA® - Volkswagen 2003 (12 March 2003)
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Management System Further development of the Financial
advantages: • indicator performance financial primary Volkswagen‘s Previously, •
disadvantages: •
was Return on Sales (RoS) on Return was
– does not take full consideration of the demands and requirements of requirements and demands the of consideration full take not does – company the by employed capital the include not does – benchmarking external for measure meaningful – municate easy – data accounting from directly derived –
investors and the capital markets. capital the and investors
EVA® - Volkswagen 2003 (12 March 2003)
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EVA
Management System Further development of the Financial
®
the cost of of capital. cost the covers least at which tax after profit operating an is goal The
is a registered trademark of Stern Stewart and Co.
Economic Value Added (EVA Added Value Economic
develops the financial ratio of ratio financial the develops
by measuring it against it measuring by
the capital employed capital the
Return on on Sales Return
®
)
EVA® - Vo