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This is an Open Access article, distributed under the terms 
of the Creative Commons Attribution CC BY 4.0

1 ISMA University of Applied Sciences, Latvia (corresponding author)
E-mail: romāns.djakons@isma.lv
ORCID: https://orcid.org/0000-0001-9150-2492
2 ISMA University of Applied Sciences, Latvia
E-mail: karajevs@inbox.eu
ORCID: https://orcid.org/0000-0001-9912-3657
3 ISMA University of Applied Sciences, Latvia
E-mail: rostislavs.kopitovs@isma.lv
ORCID: https://orcid.org/0000-0001-8201-3355

DOI: https://doi.org/10.30525/2256-0742/2024-10-5-92-110

INCREASING VALUE-BASED COMPANY POTENTIAL:  
THE GROUNDS OF A FULL-SCALE ASSESSMENT

Romans Dyakons1, Vsevolods Karajevs2, Rostislavs Kopitovs3

Abstract. The present study is a comprehensive evaluation of a business enterprise, with the objective of 
assisting its management in identifying and addressing the consequences of organisational difficulties, including 
the formation and distribution of the economic fund created as a result of the prevention of incurred losses.  
The subject of this assessment is the decision-making methodology, which serves as the basis for drawing  
conclusions about the states of the process and includes elements for training personnel involved in the 
implementation of the new version of the system. The objective of methodological foundations is to facilitate 
the timely identification of potential vulnerabilities that could lead to future losses in sustainability. From an 
organisational perspective, the conditions that facilitate the implementation of unproductive proposals are being 
circumvented. The object under discussion is a standardised, unique management tool developed for the purpose 
of assessing the operational states of an organisation. The objective of this study is to develop a procedure for 
identifying effective methods to enhance organisational performance, while preventing unauthorised disruption 
to the control system. The full-scale assessment is performed through three conceptual transitions. The first of 
these transitions is from the initial application points to the subsequent anomaly capability principles. Finally, the 
standard clauses are reached. The standard provides a detailed, step-by-step account of the organisation's status. 
A significant element of the investigation is the provision of decision-making based on objective ratios. In order to 
form objective conclusions regarding the state of the organisation, recommendations are made to recover the loss 
of value, taking into account the localisation of the places that lead to inefficiencies. The novelty of the study lies 
in the development of a comprehensive document containing instructions for experts on implementing measures 
aimed at improving performance by eliminating the shortcomings of the original version of the real control system. 
The existence of the standard allows for a well-founded conclusion to be drawn regarding the organisation's 
performance through a combination of cost indicators designed to meet conditionally specified standards and 
dimensionless indicators of process capability that belong to the category of objectively defined standards.  
This combination permits the unlocking of the organisation's growth potential in a novel environment through  
the synchronisation of performance standards and efficiency metrics. Consequently, the organisation is  
safeguarded from implementing ineffectual changes that could result in a reduction in efficiency.

Keywords: emergence, capability, performance, synergy, effectiveness, maintenance, capacity.

JEL Classification: H11, D24

1. Introduction
The value of this study lies in its capacity to 

facilitate the timely detection of subtle signals that 
may potentially lead to a loss of stability in the future.  
The confirmation of their authenticity, conducted  
with the aid of bespoke tools, enables the organisation 
to circumvent any potential disruption to its activities. 

The adaptation of controls to the constant influence of 
the external environment as part of a unified diagnostic 
system enables the elimination of the conditions 
that would otherwise allow ineffective proposals to 
be introduced. The analysis of the consequences is 
commensurate with the amount of savings obtained by 
preventing unreasonable losses, which forms the basis 



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for the creation of a motivation fund for long-term 
development. Once it has been established that the 
organisation is in a state of unproductivity, measures 
are implemented with the objective of restoring  
the lost stability. The diminished capacity to respond 
effectively to external challenges, shaped by a tendency 
to default to established decision-making routines, 
stands in opposition to the pursuit of efficacious 
strategies to enhance the process. Traditional methods  
of implementing change reduce operational 
effectiveness. Standard reports on the status of 
the organisation do not meet the requirements for  
improving overall performance. The selective nature 
of assessments carried out by different parts of the 
organisation, based on different business information, 
creates uncertainty in the selection of proposals for 
process improvement. In this regard, the issue that this 
study seeks to address can be formulated as follows: 
"It is impossible to ensure effective organisational 
change in the absence of unique means for assessing 
operational states." In light of the aforementioned  
issue, the objective of this study is to examine 
a management tool that has been developed at the 
standard level. The objective of compliance with 
the provisions of the standard, which is aimed at 
identifying genuine signals of instability, is to reconcile 
external improvements and internal enhancements. 
This coordination is based on the assumption that, at 
a specific point in the life cycle of an organisation, it 
is necessary to employ unique means of assessing the 
operational state of the enterprise.

The objective of this study is to develop a procedure 
that ensures the identification of reasonable ways to 
enhance the organisation while preventing unauthorised 
hacking of the management system. In accordance with 
this goal, the following tasks were defined:
– To formulate rules for the use of performance 
measurement tools unique to the enterprise.
– To develop a procedure for a full-scale assessment of 
the company's operational capability, which is carried 
out throughout its life cycle.
– To test the procedure on the basis of an existing 
enterprise.
– To determine the effectiveness of the developed 
procedure in the context of current changes.

In light of the aforementioned tasks, 
a set of recommendations has been formulated for the  
utilisation of performance control mechanisms in 
each particular case. The modifications made at the 
management tool level serve to enhance the quality of 
reliable diagnoses and facilitate the accumulation of 
experience in aiding the enterprise to emerge from an 
unstable state.

The practical value of the study lies in the fact that  
the full scope of the assessment is achieved through 
three important transitions: from rules to application 
points, from points to principles of anomaly 

capability, and from principles to standard provisions.  
Based on the standard, a step-by-step detailing of 
the organisation's state is carried out. Consequently, 
objective conclusions regarding the status of the 
organisation are established, accompanied by the 
formulation of targeted recommendations aimed 
at restoring diminished value. This is achieved by 
considering the specific locations that contribute to 
reduced efficiency.

2. Theoretical Background Review
This section identifies the mechanisms that are 

unable to validate the contribution of new proposals 
during the process of improving the enterprise.  
The timely modification of these mechanisms prevents 
the organisation from implementing changes that 
could result in a loss of performance capacity ( Jones, 
1994). This is achieved through a meticulous selection 
of pioneering proposals (Lee et al., 2009; Grozdić, 
2023), which are based on distinctive assessment 
instruments (de Weck, 2022). These tools guarantee 
that a comprehensive, phase-specific assessment is 
conducted (Nayani, 2022; Rosset, 2024). In terms  
of comprehensiveness, it is essential that the 
management of the enterprise has access to an  
effective assessment tool that can provide objective and 
timely conclusions about the state of the enterprise 
(David, 2015). In terms of the comprehensiveness 
of the evaluation, it is established that deliberate 
coordination requires a well-reasoned conclusion based 
on Unique Assessment Tools (UAT). The advantage of 
such a tool over standard tools is that UAT represents 
the most valuable type of intangible asset, which is the 
hardest to replicate (Andriessen, 2004; Christensen, 
2006; Aulet, 2017). Concurrently, conventional 
business valuation methodologies are comprehensively 
documented (Copeland & Dolgoff, 2005; Bierman & 
Schmid, 2006; Brigham et al., 2013; Trompenaars & 
Coebergh, 2015). It is essential to consider two crucial 
factors when developing UAT. Firstly, the adaptation 
of standard assessment methods necessitates constant 
monitoring and improvement (Wessndorf, 2021). 
Secondly, changes in the external environment occur at 
a faster rate than changes in the evaluation algorithms 
within the organisation (Gangi et al., 2020).

The utilisation of standard evaluation mechanisms 
in practice does not yield reliable conclusions  
(Chen et al., 2013). Furthermore, the veracity of the 
findings is called into question, which subsequently 
results in losses for the organisation (Hubbard, 2010; 
Turtle & Wang, 2017). A study of performance 
evaluation tools conducted during this work has 
demonstrated that enterprises which develop carefully 
structured programmes for transforming evaluation 
activities with ambitious objectives achieve the most 
optimal evaluation results (Fahey & Narayanan, 



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1986; Couplend et al., 1995; Glaser, 2001; Ismail 
et al., 2014; David, 2015; Jones, 2018; Giaquinto & 
Bortoluzzo, 2020). The issue under consideration 
is the compatibility of improvements related to 
methodological changes (Lalouxt, 2016), implemented 
at both the level of functional tasks (Osterwalder et al., 
2014) and system management tools (Kossiakoff et 
al., 2011), including the assessment tools themselves  
(Lee & Finnerty, 2000). The solution is the  
establishment of a UAT, which serves as the foundation 
for ensuring consistency of purpose throughout the 
organisation's lifecycle.

The loss of stability can be attributed to the 
inconsistency of the goal (Reichheld, 2006; Luca et 
al., 2017; Deming, 2018; El-Haddadeh et al., 2021). 
The development and subsequent support of the UAT 
necessitates a foundational knowledge base (Neave, 
1990; Barnes, 2012; Andreini, 2021) upon which 
a comprehensive assessment is conducted. A synthesis 
of several definitions (Seropian, 2003; Aizzi et al., 2014; 
Singh et al., 2015; Fu et al., 2019; Guthi et al., 2022; 
Primadasa et al., 2024) reveals that a comprehensive 
performance assessment is a control tool that entails  
the acquisition of indicators pertaining to the 
completeness, reliability, and correctness of the initial 
data preparation and their consistent transformation 
into expert opinions. Consequently, a contemporary 
evaluation instrument functions as a managerial 
instrument, enabling the determination of the 
organisational capacity. 

The management tool is a system comprising 
a set of interrelated evaluation mechanisms that ensure 
a comprehensive evaluation cycle. In the diagnosis of 
technical systems, experts are guided by the technical 
regulations outlined with consideration for the phases 
of performance capacity monitoring (Kossiakoff 
et al., 2011; de Weck et al., 2011). The phases of 
a full-scale assessment represent specific points in 
time, predetermined in the sequence of individual 
stages throughout the complete life cycle assessment 
of organisational changes from a capacity perspective.  
The organisational capacity of an organisation is 
contingent upon the system's capacity to effectively 
navigate instability (Neave, 1990; Genovese et al.,  
2017; Zhang et al., 2018; Djakons et al., 2021; 
Peshawaria, 2024).

The capacity of the system to replicate the control 
process in the context of continuous changes in  
external circumstances serves to confirm the ability 
to manage (Martin et al., 2022; Meng & Yang, 2023).  
In Deming's view, capability is characterised by 
the ability to define the natural limits of a process  
without recourse to tolerances (Neave, 1990). 
Furthermore, the capability index is a dimensionless 
indicator that is employed to ascertain whether stable 
processes are capable of meeting technical tolerances 
(Taguchi, 1993). 

In cases where the issue of managing instability 
is addressed, a well established UAT is required.  
Capability is viewed from the perspective of the 
expert's skill, allowing them to prevent the spread 
of false knowledge by using a system of objectively 
defined standards. This is achieved through 
a comprehensive assessment of the current position, 
before and after identifying the location of disruptions 
in the organisation's stable functioning. In terms of 
completeness, instability management is built on 
the principles of creating a sustainable organisation  
(Neave, 1990; Mintzberg, 2009; Weiss, 2014; Tench et 
al., 2018; van Tulder & van Mil, 2023). 

The presence of principles guarantees that 
management is adequately prepared to draw reliable 
conclusions about the organisation's true state during 
a full-scale evaluation (Diaz & Baumgartner, 2024). 
The authenticity of these conclusions is confirmed 
by the thoroughness of the full evaluation: from the 
identification of obstacles to the achievement of the 
objectives set, to the drawing of conclusions about 
operability. The process of dealing with instability 
is considered within the framework of evaluation  
activities carried out in a specific temporal sequence of 
phases, stages and steps – a sequence that is consistent 
across all types of activities. In practice, it has been 
demonstrated that only effective full-scale evaluation 
systems include UATs (David, 2015; Trompenaars 
& Coebergh, 2015; Aulet, 2017; Li et al., 2023). 
Such a description provides an essential basis for the 
advancement of UAT. However, it has a significant 
drawback: "The specific diagnostic tools that should 
be applied at each phase of the assessment are still 
unknown." A comprehensive evaluation is conducted 
in a systematic sequence, progressing from one 
stage to the next. This sequence is as follows: from 
signalling to shaping, then to positioning, and finally to  
diagnosis (Kelly, 2013; Emstsen & Nazr, 2020).  
The effectiveness of a full-scale assessment is  
determined by three key factors:
1) The results of the previous stage are the starting  
point for the next stage.
2) In the event of a negative result at any stage, it is not 
possible to proceed to the next stage.
3) The evaluation is based on parameters calculated 
within a system of objectively defined standards.

In accordance with the conditions set forth, the 
development of the UAT must be conducted using 
"Sensemaking" technology (Woodside, 2001; Weick, 
2010; Gilliam & Rockwell, 2018; Närvänen et al., 2019; 
Langley & Reple, 2023). As a result, the UAT provides 
access to the link between process standards and  
activity measures. This access has significant implications 
as the assessment of the organisation's performance 
generates recommendations to senior management 
on the range of changes in key business indicators, 
including the discount rate and capitalisation ratio.



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3. Research Methodology
The assessment is based on readiness monitoring 

algorithms that allow the organisation to draw 
reliable conclusions about its state. In this context, 
the determination of the organisation's operational 
readiness aims to provide recommendations for exiting 
an unsustainable state (Pflaeging, 2014; Baldassarre 
et al., 2017). The capacity to exit is contingent upon 
an identified contradiction: as the requirements of the 
external environment exceed the capabilities of the 
evaluation industry, the continuous maintenance of 
the assessment toolkit is imperative for the generation 
of reliable solutions (de Weck, 2022; Dinh et al., 
2024). During this process, a transition occurs from 
a fragmented assessment to a comprehensive and in-
depth diagnosis of the organisation (Bontis, 2002; 
Levitt, 2009; Damodaran, 2018; Amit & Zott, 2020). 
The problem highlighted can be summarised as follows: 
"It is not possible to make objective recommendations 
for improving the organisation without implementing 
unique assessment tools." The objective of 
a comprehensive evaluation is to ascertain the extent to 
which a system is complete. This concept is pertinent 
to a system designed to assess the operational fitness  
of an organisation, developed using algorithms to 
evaluate its condition at a specific point in time 
(Djakons & Kopitov, 2022; Alatefi et al., 2023; Qureshi 
et al., 2024). In terms of comprehensiveness, the subject 
of assessment is reflected in the configuration of each 
element of the assessment system, which employs 
uniform algorithms for the reproduction of a sustainable 
process (Perakis & Xekalaki, 2012; Arcidiacono & 
Nuzzi, 2017; Meng & Yang, 2023). 

The purpose of this consistent disclosure is to  
develop a procedure that ensures the precise definition 
of states. In accordance with the aforementioned 
objective, four tasks have been devised. Firstly, the 
content of the approach to developing a unique 
assessment tool must be disclosed. Secondly, the 
various phases of the life cycle of a full-scale assessment 
should be delineated. Thirdly, the stages of the  
life cycle of a full-scale assessment must be examined. 
Fourthly, it is imperative that sensemaking technology 
be employed in the creation of the diagnostic toolkit 
(Zeb & Rashid, 2016; Cristofaro, 2022). In practical 
terms, it has been demonstrated that algorithms 
designed to assess organisational health can identify 
the weak links that hinder an organisation's ability to 
maintain a sustainable state (Cummings & Worley, 
2019; Kwilinski & Kardas, 2024). These tasks are 
accomplished through four phases of a comprehensive 
assessment. From a scientific standpoint, the  
developed tools facilitate the assessment of the 
organisation within a framework of reasonably 
specified standards that include clearly defined ranges 
(Djakons et al., 2021). A breach of these boundaries 

is associated with the implementation of corrective 
measures designed to restore stability. Furthermore,  
the management team has the ability to modify  
the limits of key business indicators when necessary. 
The following sections will address each of the 
aforementioned tasks in turn. This section will delineate 
the research methods, which are divided into four stages.  

Step No. 1: An Approach to Developing a Unique 
Assessment Tool

With such a tool, the user of the tool should be able 
to answer the question: "Is the company operational on 
the current date or not?"

In addition to answering this primary question,  
the use of an effective evaluation tool will assist 
management in identifying organisational difficulties 
and addressing their consequences (Fahey &  
Narayanan, 1986; Jones, 1991; Couplend et al., 
1995; Reichheld & Teal, 1996; Glaser, 2001; Collins, 
2009; Kopitov, 2013; Bertoni et al., 2016; Gilliam & 
Rockwell, 2018; Wijngaarde, 2021). It is important to 
consider that the results of eradication efforts should 
be measured against the magnitude of losses incurred 
(Hall, 1992; Doyle, 2000; Mahama, 2006; Dawson, 
2014; Lyn et al., 2019; Ouambo et al., 2021). In the 
context of loss prevention, an analysis is conducted 
with the objective of assessing the benefits derived 
from the neutralisation of losses. Consequently, the 
formation of an accumulation fund is contingent upon 
the prevention of incurred losses. From the perspective 
of sound resource allocation, this fund is used to 
coordinate and motivate the participants involved in its 
formation. Summarising the application of traditional 
assessment methods (Lev, 2001; Bierman & Schmid, 
2006; Brigham et al., 2013; Trompenaars & Coebergh, 
2015; Lewis, 2023), five main shortcomings have 
been identified. Table 1 provides information on the 
shortcomings of traditional evaluation.

The analysis demonstrated that the introduction of 
each new technological iteration of the assessment 
not only engenders alterations in the control system 
but also necessitates a shift in the strategic orientation 
of the organisation (Kaplan & Norton, 2001; Dess et 
al., 2003; Hung & Tsai, 2017; Wang & Dyball, 2019; 
Eber & Hurth, 2022). Such modifications result in the 
temporary removal of the detrimental effects of the 
external environment. Nevertheless, in the majority 
of instances, the enterprise fails to emerge from an 
unstable state. A failure to recognise an extended period 
of instability in the future may result in significant 
financial losses. 

The rationale behind the frequent alterations in 
goal-setting is the utilisation of Standard Assessment 
Tools (SAT). It is also important to note that SAT 
incorporates standard decision-making techniques  
that are of a general advisory nature and do not 
bear any liability for inaccurate recommendations  



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(Ramírez-García et al., 2024). It is important to  
highlight that this is a consequence of the lack 
of consistency in the strategic direction taken.  
The assessment of this course is based on the value and 
range of change, which are determined through the 
application of one of the established business valuation 
methods. The variability of the course is resolved at 
the level of range change. This represents the paradox  
of the superficial approach to the utilisation of the SAT. 
To the question, "What is needed to transfer enterprises 
to a working state?" the following answer is given:  
"It is necessary to change the range of the main  
indicator." The interpretation of the listed authors 
(Neave, 1990; Jones, 1994; Lai, 1997; Campbell & 
Luchs, 1998; Möller & Törrönen, 2003; Teerikangas 
et al., 2011; Ismail et al., 2014; Holtström & Anderson, 
2021; Klemmer, 2024) demonstrates that ensuring the 
constancy of a pre-reasoned goal results in a reduced 
outcome that aligns with the synergistic rule 2/98. 
The essence of the rule is explained in the following 
statement: "Two percent of the assets contribute 
ninety-eight percent of the value." In practice, the 
implementation of rule 2/98 is carried out with the 
assistance of UAT, which belongs to a distinct category 
of intangible assets that cannot be replicated (Hamel, 
2000; Andriessen & Tissen, 2000; Matolcsy & Wyatt, 
2006; Fonseka et al., 2012; Ocak & Fındık, 2019; 
Robinson et al., 2024).

Table 2 presents the primary findings of the study, 
elucidating the core functions that define the valuation 
activities within the domain of financial and analytical 
consulting, such as UAT.

The disclosure of the content of the evaluation 
functions enabled the delineation of particular, 
as opposed to merely efficacious, measures for  
conducting an effective evaluation. The specificity 
of such measures is achieved at the level of a special 
programme, which is developed with consideration 

of the distinctive nature of supporting a specific  
enterprise.

Indeed, the paradox of the superficial approach  
lies in the underestimation of the significance of  
utilising UAT.

Step No. 2: Life Cycle Phases of a Full-Scale 
Assessment

As demonstrated in the preceding section, the level 
of completion of the assessment is contingent upon the 
issuance of an objective diagnosis of the organisation's 
position. This diagnosis is formed using objectively 
specified standards and described in terms of  
established performance limits. From the perspective 
of assessment completion, there are no definitive 
recommendations regarding the optimal timing for 
completion. In the process of analysing the UAT design 
tools, an important condition (1) is identified.
The level of completeness of the UAT depends on 
the availability of algorithms for determining the 
organisation's capability at a particular point in time, 
which characterises the full-scale assessment stage.

(1)

It is the primary objective of any manager interested 
in the objectivity of the diagnoses issued to ascertain  
the point in time at which this will occur.

Summing up the definitions made, condition (2) is 
formed. 
The capability of the management process determines 
the points in time at which it is necessary to determine 
the readiness of the organisation to recover from an 
unstable state.

(2)

The condition serves as the fundamental basis for the 
production of UAT. In conclusion, UAT is intended 
to facilitate financial and analytical maintenance for 
an organisation (Adjoul et al., 2020; Mosca et al., 
2021; Divya et al., 2022; Fares, 2024). With regard to 
condition (1), the management process is founded 

Table 1
Disadvantages of using traditional assessment methods

№ Disadvantage Suggested improvements

1 Lack of a comprehensive approach that complements 
internal analysis and external synthesis.

The potential impact of performance on the external environment is 
taken into account.

2 There is a controversial assumption that business is not 
naturally inclined to co-operate.

Transition from the closed system management paradigm to the open 
system maintenance paradigm.

3
Emphasis is placed on the external environment, 
downplaying the role of internal resources that form the 
company's assets.

The results obtained are compared on the basis of the superposition 
principle, and the generalisation is made taking into account the 
influence of side effects.

4

Companies that operate outside the industry and market, 
as well as companies that pose a significant threat if they 
have similar core competencies and different capabilities, 
are not taken into account.

The focus on the comparability of the potential outcomes of ongoing 
projects is a fundamental basis for testing the economic viability of 
specific financial solutions for short-term and quick-return projects.

5
It does not take into account that strengthening existing 
competences and creating new ones can allow a company to 
become competitive beyond its existing markets.

It is necessary to abandon the old principles of attitude to evaluation 
and expertise and adopt innovative models of value creation, taking 
into account the interests of all organisational stakeholders.

Note: the table was created by the authors based on the assessment of the performers during the projection of the period



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upon algorithms that ascertain the organisational 
capacity through a comprehensive assessment.

Completion of the full assessment cycle in the context 
of condition (2), which is formed by determining the 
organisation's readiness to recover from an unstable 
state, is determined by four phases:
– The signalling phase, which results in a constructed 
data collection subsystem used to determine the state of 
readiness of the UAT user for assessment.
– The information phase, which results in the 
introduction of a targeting system, i.e., checking the 
causes of instability, including the identification of signs 
of enterprise instability.
– The positioning phase, which results in an 
assessment of the built system at the level of "tolerance 
– compliance" with the established norms and measures 
taken and determining the need for either their further 
correction or "launching" a new project, i.e., revising the 
ranges of norms and measures.
– The confirmation phase, which results in determining 
the organisation's position in terms of determining  
its health status.

The four phases collectively constitute a comprehensive 
assessment system. The designation of the phases in the 
cycle of a full-scale assessment activity necessitates an 
examination of the stages of the life cycle.

Step No. 3: Stages in the Life Cycle of a Full-Scale 
Assessment

Step No. 3 illustrates that evaluation phases should 
be situated within the designated stages of the full-
scale evaluation life cycle. In practice, it has been 
demonstrated that only performance-based full-

scale evaluation systems have UAT (David, 2015; 
Trompenaars & Coebergh, 2015; Aulet, 2017; 
Ran et al., 2019; Awan et al., 2020; Thusi, 2023).  
The UAT designed to manage the instability includes 
five stages of assessment:
– Relevance.
– Trials.
– Functioning.
– Improvement.
– Maintenance.

The Relevance stage examines the large-scale 
circumstances that negatively influence the behaviour 
of the organisation's managers. It also collects data on 
how to prevent the consequences of these influences, 
which forms the basis for identifying the requirements 
for the organisation to act aggressively against hostile 
environmental influences.

The Trials stage involves debugging algorithms  
for exiting an unstable state. These algorithms  
are used to ensure that management can be informed 
in good time of the consequences of entering an  
unstable state.

The Functioning stage is designed to examine 
situations that allow the control system to be improved. 
Facts are gathered that provide a basis for improving  
the management process.

The Improvement stage is intended to prepare a new 
version of the system. Its composition is determined 
on the basis of a careful selection of improvement  
requests, including innovative proposals.

In the Maintenance stage, strategic decisions are 
made, including changes to the ranges of diagnosed 
parameters.

Table 2
Overview analysis of theoretical provisions of valuation activities in the field of financial and analytical consulting 

№ Function Description The actions of the function 

1 Facilitating the 
change process

It is a change management tool.
It forms a structure for perceiving the 
future and a tool for identifying new 
opportunities.

1. Objective assessment of the results of current activities.
2. Assessment of the reproducibility of process stability.
3. Evaluation of shareholder value creation.
4. Loyalty analysis.

2

Encouraging 
managers to 
formulate "precise" 
questions

It forces to formulate and seek answers to 
the questions that determine success and 
failure.
Ensuring the right response to unexpected 
events.

1. Estimation of parameters at the stage of data preparation.
2. Evaluation of errors in the customer's analysis.
3. Assessment in the analysis of competitors.
4. Research of consumer needs.
5. Identification of competitive advantages.

3 Motivation and 
control

Creating long-term value for shareholders. 
Building relationships with business 
stakeholders based on the company's ability 
to meet their needs.

1. Creation of shareholder value.
2. Selection of potential development options.
3. Development of value propositions.
4. Evaluation of the effectiveness of the proposals.
5. Implementation of the proposals.

4 Opposition to 
accounting traditions

Do not focus on expenses and monthly 
budgets.

1. Assessment of long-term prospects.
2. Search for long-term competitive advantages.
3. Potential methodology.
4. Identification of value creation levers.
5. Methodology for measuring loyalty.

Note: the table was created by the authors, as the grounds was obtained from consulting companies activity



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A significant element of the life cycle of UAT 

production is the points of transition from one stage to 
another. These points are exemplified by the evaluation 
phases, as outlined in Step No. 2. Four phases should  
be distinguished as part of the completed UAT cycle:
– Alarms;
– informing;
– positioning;
– confirmation.

The use of UAT is intended to organise and support 
the activities of an organisation with a focus on goal-
oriented aspects of management. The stated purpose 
essentially requires the completion of four phases of 
mandatory assessment. Figure 1 shows a generalised 
scheme of a four-phase assessment as part of the life 
cycle of the organisation's performance diagnostics. 
If the organisation is found to be in a dysfunctional 
state, the assessor has every reason to conclude that it is 
uncontrollable.

The evaluation phases, distributed across the stages 
of the UAT life cycle, are considered at the level of 
a general description. While the objective of each phase 
is clear, the methodology for achieving the desired 
result remains undetermined. The diagnostic toolkit 
for each of the four assessment phases is also uncertain. 
To illustrate, the informing phase necessitates the 
formulation of algorithms for the examination of 
the factors that precipitate a departure from a steady 
state. The aforementioned deficiency will be rectified  
through the utilisation of sensemaking technology 
(Weick, 2010; Carrington et al., 2019; Cristofaro, 
2022).

Step No. 4: Application of "Sensemaking" 
Technology to Create a Diagnostic Toolkit for 
Evaluation Phases

In consideration of Sensemaking technology, a report 
on the disparate positions of the enterprise is compiled 

at each evaluation phase. In sum, the collective 
output of the evaluation activities serves to define the 
extent of completion of the UAT cycle. At the same 
time, according to the Sensemaking technology, two 
provisions must be met at all phases of the assessment:
– A single structure should be defined;
– a metaphor is chosen.

The work demonstrates that a fifteen-node 
hierarchy of value serves as the initial structure for the 
reproduction of a sustainable process (Karayev, 2021). 
The aforementioned hierarchy is constructed on the 
foundation of a singular methodology comprising  
fifteen elements. The Initial Value Hierarchy (IVH) 
comprises fifteen elements, which were distributed 
accordingly. In this manner, the initial significant  
rule (3) is established.
The initial structure is represented by a fifteen-node 
hierarchy of values, the nodes of which are the elements 
of the methodology.

(3)

Table 3 shows the structure of the IVH.
The second provision for the application of 

Sensemaking technology is represented by the following 
condition:
"Hologram" is chosen as the initial metaphor. (4)

The metaphor "Hologram" was selected for its aptness 
in this context. Prior to the provision of functions 
at levels II, III, and IV, it is essential to ascertain 
the state of each node at its corresponding level.  
Similarly, hierarchies must be constructed for  
nodes P2, P3, P4, P5, P6, P7, and P8. Accordingly, the 
IVH must be upgraded to level VII. The revised seven-
level hierarchy comprises 127 elements. This hierarchy 
is designated as a Modified Value Hierarchy (MVH).

Table 4 provides a description of the modified 
structure.

The analysis of the contents of the table serves to 
address the disadvantage previously identified with 

Figure 1. Phases of a full-scale assessment of the enterprise's activities as part of the UAT life cycle

Note: the figure was created by the authors using life cylce process

Maintenance (V) Relevance ({) 

Improvement (IV) Trials (II) 

Functioning (III) 

Phase No 1; 
Alarms 

Phase No 2; 
Informing 

Phase No 3; 
Positioning 

Phase No 4; 
Confirmation 

 



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regard to the evaluation mechanisms employed as part 
of the UAT process in each phase. The development 
of diagnostic algorithms for each assessment phase is 
now a viable proposition. To illustrate, the algorithmic 
determination of the user's state of readiness is  
contingent upon the information provided at levels 
IV-VII for the signalling phase. The alteration of the 
boundaries of the ranges of norms and measures is 
only undertaken once all phases have been completed. 
Consequently, UAT not only guaranteed the  
completion of a comprehensive assessment, but also 
rectified the absence of diagnostic instruments that 
should be employed at each stage of the assessment. 
The UAT methodology facilitates the linkage of  
process norms and performance measures.

4. Research Results Analysis and Discussion
This section focuses on the development of an 

assessment tool to identify vulnerabilities found 
outside the organisation. Their timely identification  
and prevention will allow the organisation to avoid 
potential losses in the future, thereby reducing the 
time the organisation is in an unstable state. This is 
accomplished through the consistent implementation 
of instructions for the gathering, processing,  

and examination of business data utilised as part of 
a unified diagnostic apparatus. With the assistance 
of these tools, it is possible to draw reasonable  
conclusions about the state of the organisation.  
In the event of a loss of capacity, the causes of the 
violations are identified, and a set of measures is 
developed to assist the enterprise in exiting an  
unstable state. As a result, it has been established that 
the full scope of the assessment characterises the 
organisation's ability to justify both the magnitude 
of the additional benefit and the value of the damage 
avoided. Their relevance is determined by the means 
used to validate the decisions taken. These tools 
allow conclusions to be drawn at different intervals.  
As a result, recommendations are developed to restore 
the loss of value, as the localisation of places leads 
to a loss of efficiency. Since change, even in the case 
of growth, can put the organisation in an unstable 
state, management must have a way of ensuring that 
the change does not contradict the organisation's  
objectives and that there are no obstacles to measuring 
efficiency.

Consequently, this will permit, from a cost perspective, 
the measurement of efficiency in the context of 
introducing a novel and innovative offer based on the 
model of an existing enterprise. It is a superposition 

Table 3
IVH description

Level Name Function Number 
of knots / nodes Name of the knot / node Number 

of parameters
I Position State definition 1 S1 8 - 10

II Permission  Monitoring compliance with 
regulations and measures 2 D1, D2 16 - 20

III Restrictions Verification of targeting indicators 4 O1, O2, O3, O4 32 - 40
IV Indicators Preparation of raw data 8 P1, P2, P3, P4, P5, P6, P7, P8 64 - 80

Note: the table was created by the authors, as the data was taken from the Initial Value Hierarchy analysis

Table 4
MVH description 

Level Name Function Number 
of knots / nodes Name of the knot / node Number 

of parameters

I Position Determining the state of the 
organisation 1 S1 8-10

II Permission  Monitoring compliance with standards 
and measures 2 D1, D2 16 - 20

III Restrictions Verification of target indicators 4 O1, O2, O3, O4 32 - 40

IV Indicators Preparation of raw data for the 
readiness assessment 8 P1, P2, P3, P4, P5, P6, P7, P8 64 -80

V Know how
Determination of the correctness of 
the established standards and measures 
taken

16 R1, R2, R3,  …,  R15, P16 128 -160

VI Traditions Investigation of constraints in the 
context of steady-state exit testing 32 T1, T2, T3, …,  T31, Т32 256 -320

VII Imperfections Inputting raw data for indicators 64 N1, N2, N3,  …, N63, N64 512 -640

Note: the table was created by the authors, as the data was taken from the Initial Modified Value Hierarchy analysis



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model where each change contributes to the  
enterprise's value, which is evaluated during the 
maintenance stage. In the context of testing, assessment 
is regarded as a means of addressing the challenges 
identified during expert activities, which were  
conducted to ascertain the importance of the core 
attributes that shape the organisation's strategic 
positioning. Figure 2 illustrates a block diagram of 
a phased assessment based on UAT.

The distinctive feature of the comprehensive 
assessment instrument is its integration of actions 
tailored to the stages of the value pentagram with the 
distinctive actions to be undertaken in each valuation 
phase. The pentagram of value was initially devised by 
Copeland, Koller and Murrin (Copeland et al., 1995) 
and subsequently refined by Dolgoff (Copeland & 
Dolgoff, 2005). This scheme is also referred to as the 
structural adjustment model. During the process, it is 
necessary to calculate five cost values, as illustrated in 
Figure 2.

Table 5 provides details on the tasks to be performed 
at each stage of restructuring.

A consistent transition is made from the present  
value to the reconstructed value in order to assess the 
four states of the enterprise. The data presented in  
Table 2.4 can be represented in accordance with the 
UAT life cycle, as illustrated in Figure 1. Subsequently, 
it is essential to illustrate the evaluation stages  
within the modified organisational life cycle.  
The initial stage is to facilitate the transition from the 
value pentagram to a modified lifecycle UAT (Djakons 
et al., 2021; Kopitov, 2013). The transition identifies 
a comprehensive alignment between the stages that 
define the UAT approach and the pentagram of value, as 
illustrated in Table 6.

This process allows the creation of a modified  
UAT life cycle diagram. The modifications pertain 
to alterations in the nomenclature of the stages of the  
UAT life cycle, as illustrated in Figure 3. The creation 
of a flowchart enables the subsequent delineation of the 

Figure 2. Structural diagram of a full-scale assessment of the enterprise's activities based on UAT
Note: the figure was created by the authors based on UAT assessment 

Stage No1. 
Current value 

Stage No2. 
Signaling 

 

Stage No3. 
Actual value 

Stage No4   
Informing 

 

Stage No5     
Potential value due to 

external 
improvements 

Stage No6 
Positioning 

 

Stage No7     
Potential value due to 

internal 
improvements 

Stage No8. 
Confirmation 

 

Stage No9. 
Reconstructed value 

 

 

Table 5 
Description of the stages of structural adjustment

Stage Method Stage content
Current value Evaluation Enterprise value by direct capitalization method
Actual value Business plan Valuation of a going concern in the medium term
Potential value due to external 
improvements

Applications for 
improvements

Adding value through key external class fact Increasing value 
through key external factors

Potential value due to internal 
improvements

Suggestions for 
enhancement Adding value through key internal class symptoms

Reconstructed value Recovery Changes in the capital structure

Note: the table was created by the authors using the grounds of Value Pentagram



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particular actions and outcomes to be undertaken at 
each stage.

Table 7 provides a comprehensive overview of the 
full-scale assessment procedure. The second column 
of the table provides a summary of the actions, while 
the third column presents the indicators, the values of 
which are employed in the drawing of conclusions.

The nature of the change is contingent upon  
the values of the listed indicators, and thus also upon 
the strategic parameters. The actual value is derived 
by superimposing the investment project model on 
the going concern model over the medium term, 
commencing from the base. The study of the actual 
value is considered in the context of the user's ability 
to identify subtle signals among the numerous declared 
parameters. In order to facilitate the detection of  
a node within the strategic field, a method of calculating 
its position is employed. The value of the position 
represents a quantity that is not dependent on any 
particular units of measurement. In the initial eight 
stages, the value of the enterprise is not determined. 
Figure 4 illustrates the result of a calculation that 

characterises the skill of an expert in analysing the 
factors and symptoms that affect the actual value.

The results demonstrate that the position is 
within the stability zone, which characterises the 
average level of readiness. Awareness of the signals 
enables the identification of any potential for an 
unstable state to emerge. Table 8 presents the results 
of the analysis. Concurrently, in addition to the 
coordinates of the position and the set of signals  
(columns 3 and 4), indicators of cost management are 
determined (column 6).

The enterprise's actual value was determined  
to be the sum of discounted cash flows, amounting 
to 40,000 EUR, and the current residual value of 
111,000 EUR. The position coordinates were calculated 
in accordance with the methodology outlined in 
Figure 4. A comprehensive account is necessary for 
the calculation of the value. This necessitates the 
implementation of standardised procedures, with 
the respective rights of responsibility clearly defined 
and enshrined. This consolidation will facilitate the 
detailed examination of the actions undertaken at each 

Table 6 
Correspondence between the stages of restructuring and the stages of the UAT life cycle

Stage UAT Pentagram stage Method Content of the stage

Relevance Current value Evaluation Enterprise value using the direct capitalisation 
method

Challenges Actual value Business plan Valuation of an operating company in the medium 
term

Functioning Potential value due to external 
improvements Requests for improvement Adding value through key external class factors

Improvements Potential value due to internal 
improvements

Suggestions for 
enhancement Adding value through key internal class factors

Maintenance Reconstructed value Recovery Changes in the capital structure

Note: the figure has been created by the authors according to the accommodate results obtained

Figure 3. Life cycle of a full-scale UAT-based enterprise assessment

Note: the figure has been created by the authors according to the UAT procedure  

Current value  (I) 

Potential value due internal 
improvements   (IV) 

Actual value (II) 

Potential value due to external 
improvements  (III) 

Phase No1. 
Signaling 

 

Phase No2. 
Informing 

Reconstructed value  (V) 

Phase No3. 
Positioning 

 

Phase No4 
Confirmation 

 

 



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Table 7
Description of the steps in a full-scale assessment procedure based on the UAT 

Phase Actions Indicators 
 Current value Valuation using the direct capitalisation method. Cash flow, capitalisation ratio, range of values.

Signaling
A total of 640 data collection parameters were employed 
to ascertain the level of preparedness of the UAT user for 
the assessment.

Eight indicators are evaluated within the framework of a 
system of set standards: reproducibility of the sustainable 
process, average share of critical features, and the length of the 
route for the distance in the sustainable development zone.

Actual value Valuation of an operating company in the medium term 
based on a business plan.

Initial investment, cash flows, discount rate, growth rate, 
capitalisation rate, range of values.

Informing
Based on the results of the compression of the original 
data, the causes of instability are checked, including signs 
of insolvency.

Four indicators are evaluated within the framework of the 
established standards: reproducibility of the sustainable 
process, average share of critical attributes, and the length of 
the course route in the sustainable development zone.

Potential value 
due to external 
improvements

Maximisation of value growth due to key external factors 
within long-term development scenarios (improvement 
applications).

Initial investment, cash flows, discount rate, growth rate, 
capitalisation rate, range of values.

Positioning

After the second selection of business information, 
the relevance of the established norms and consumed 
measures is monitored, and the need for either their 
further adjustment or the "launch" of a new project, or 
revision of the ranges of norms and measures is assessed.

Two indicators are evaluated within the system of established 
standards: the reproducibility of the sustainable process, 
the average share of critical attributes, and the length of the 
course route in the sustainable development zone.

Potential value 
due to internal 
improvements

Maximisation of added value through key features of 
the internal external class within the selected operating 
scenario (improvement proposals).

Initial investment, cash flow, discount rate, growth rate, 
capitalisation rate, value spread, value range, spread range.

Confirmation Assignment of the "capacity" status, which makes 
it possible to start work.

One indicator is assessed as part of a system of set norms: 
reproducibility of the sustainable process, average share of 
critical features, length of the course route in the sustainable 
development zone.

Reconstructed 
value

Changing the capital structure in light of the Golden 
Rule of Economics and the SGR model as part of 
organisational support management.

Initial investment, cash flows, discount rate, growth rate, 
capitalisation ratio, cost spread, cost range, spread range, 
return on equity range.

Note: the table was created by the authors

Figure 4. Calculation of the position "Expert readiness to assess the actual value of the enterprise"

Note: the figure was created by the authors as a way to calculate the organisation's position

 

 



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step. A form of step-by-step detail is the enterprise 
standard. This standard is a normative document that 
sets out the requirements for the product and methods 
for assessing the activities of an enterprise operating 
with the objective of obtaining a quality result that are 
uniform for a particular enterprise. It is estimated that 
the enterprise standard contributes to the creation of 
53% of the value of intangible assets. The proportion 
of intangible assets in the value of an enterprise 
varies considerably, from 55% to 99% (Doyle, 2000).  
It is important to highlight that the individuals 
responsible for developing the standard are highly 
qualified key employees of the enterprise. Such 
employees constitute the majority of the workforce, 
responsible for creating over 85% of the enterprise's 
value (Andriessen & Tissen, 2000). In essence, this 
standard serves as a tool for enterprise management 
to oversee operational processes. The conclusion  
of an expert assessment, which identifies a capacity 
deficit, serves as the rationale for ceasing business 
operations. 

The provisions set forth by standard represent 
a series of steps that form the basis for conducting 
a comprehensive UAT-based assessment. Such 
instructions are employed by enterprises whose 
management is interested in acquiring experience 
in the timely prevention of organisations falling into  
unstable states on the basis of UAT. The greatest  
demand for such services is observed in enterprises 
with a share of intangible assets above 80% (Andriessen 
& Tissen, 2000; Copeland & Dolgoff, 2005; Ocak & 
Fındık, 2019).

The standard is approved by the Latvian BPO class 
enterprise, which provides consulting services in the 
field of supporting scientific papers and intermediary 
services in the field of finance (enterprise BY_CL). 

A comprehensive evaluation of the BY_CL enterprise 
necessitated the completion of fifteen distinct phases. 
These steps were undertaken in accordance with the 
enterprise standard. The initial eight steps are designed 
to ascertain the preparedness of the UAT user to  
interpret the evaluation outcomes (for further details, 
please refer to Figure 4). The following four steps 
(9-12) delineate the parameters of goal setting, as 
illustrated in Table 8. Steps 13 and 14 are designed to 
ascertain whether the user is permitted to undertake  
an examination in order to issue a conclusion regarding 
the capacity check (see Table 9).

The final step, No. 15, is concerned with the 
determination of the state of health capacity. 
A favourable outcome is indicative of the designation 
"Sustainable Operation Status". The final outcome is as 
follows: a status of "Unhealthy" serves as the basis for 
cessation of activity, necessitating the implementation  
of specific measures to exit the unstable state. 
A favourable outcome of the exit indicates that the 
organisation is capable of being managed effectively. 
Table 10 presents the aggregated data pertaining to the 
determination of the reconstructed value.

The calculation of the reconstructed value is 
determined in a manner analogous to the procedures 
conducted in steps 13 and 14 (Djakons et al., 2021). 
Consequently, the potential value, incorporating 
external enhancements, for BY_CL was determined 
to be 208,000 EUR. Furthermore, the organisational  
state and capacity are defined (see Table 11).

The assessment yielded normal results for all 
parameters (Djakons et al., 2021). The point with 
coordinates {6.8; 7.25} is indicative of the organisation's 
sustainable operational status. This allows the 
reconstructed value of the enterprise to be determined 
as of the current point in time. The evolution of the 

Table 8
Determining the boundaries of goal-setting elements

Step Assignment Position 
coordinate

Organisational 
norms

Number 
of signals

Value, 
EUR

No. 9 
Determination of present value 
Baseline, taking into account 
contradictions of unjustified loss 
of value

Basic, taking into account the 
contradictions of unjustified losses of 
value

76 000

No. 10
Determination of the actual cost

The prospect of added value in correcting 
signals (problems) that disrupt 
functioning (conclusion)

{5,64; 5.62} Within norms 
(0.4%) 18 (7; 11) 151 000

No. 11 
Determination of potential value, 
internal

Search for resources to formulate tasks to 
identify weaknesses in the organisation 184 000

No. 12 
Determination of potential value, 
external

Establishing value orientation in restored 
sustainability 191 000

Notes: the table was created by the authors using goal-setting systems



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value in question is illustrated in the following diagram 
(see Figure 5).

Consequently, the implementation of a cost 
management approach resulted in a 171.8% increase 
in the value of BY_CL. The developed UAT enables 
a comprehensive examination of the organisation's 
activities. Furthermore, the analysis identified  
potential growth reserves and constraints that could 
impact the enterprise's long-term viability. In order to 
evaluate the effectiveness of the investment project, it 
is necessary to apply the appropriate model (Bierman 
& Schmid, 2006; Brigham & Ehrhardt, 2013).  
The methodology employed for the initial determination 
of the project's complexity was utilised as the basis for 
subsequent calculations. The revenue component was 
employed at the expense of the enterprise's savings, 
which were accumulated in the course of preventing 
deviations and violations. Table 12 presents the results 
of the project's effectiveness calculation. 

The calculation was carried out at the established 
discount rate of 15%.

The evaluation period was five years in duration.
Thus, the project is economically viable and efficient.
The value spread is 23.12% (38.23% minus  

15.11%), which is an acceptable indicator for this class 
of projects.

Table 12
Evaluation of the effectiveness of the implementation 
of the UAT at the enterprise BY_CL

Indicator Number
Evaluation period, years 5 years
Initial investments, EUR 23000
Payback period, years 2,75
Discount rate (WACC), % 15,11
Net present value, EUR 14000
Internal return rate, % 38,23

Note: the table was created by the authors, as the information was 
taken from the analysis of main Investment criteria

5. Conclusions
This study resulted in the formulation of seven rules 

pertaining to the organisation and conduct of a full-scale 
assessment. In accordance with the aforementioned 
rules, the content of the assessment was subjected 
to a comprehensive examination with a view to 
ascertaining its completeness. The principal focus was 
on a tool that facilitates assessments across the entire 
organisation, employing consistent algorithms to yield 
objective outcomes. A single structure, representing 
a hierarchy of values, was employed in the development 
of the algorithms. The hierarchy's nodes represent 

Table 9
Determination of the admission of the user of the UAT to the examination

Step Assignment X-
Coordinate

Y-
Coordinate

Organisational 
norms

Number of signals
Symptoms Factors

No.13 Establishing 
standards for the entire 
process

The focus vector is aimed at revealing 
the paradox of efficiency

No.14 
Taking measures 
of full activity

Elimination of fragmentation enables 
performance measurement

Note: the table was created by the authors based on the access permission

Table 10
Determining the capacity check of an organisation

Step Assignment Coordinate Organisational 
norms

Number 
of signals Value, EUR

No. 15 Determination 
of the recoverable amount

Based on the management tool used, 
the organisation's capacity is confirmed

{6,8; 7.25}
Within the normal 

range (6%)
21 (10; 11) 208 000

Note: the table was created by the authors, as the aggregated data was taken from the final results

Table 11
Expert opinion on capacity

Point Abscissa 
(to 11.25)

Ordinate 
(to 11.25)

Error 
(up to 10%)

Average share of 
critical attributes

(up to 40%)

Route
(from 5.3 to 

15.91)

Reproducibility 
(from 30% to 

100%)
Conclusion

Current 
value 6,80 7,25 6% 37,37% 9,94 62,8% All parameters are 

within norms

Note: the table was created, as the data was taken from the professional opinion



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the elements of the methodology. The determination 
of position is considered within the context of a  
system that ensures the reproduction of a sustainable 
process. 

The approach under consideration is marred by 
a significant shortcoming that is characteristic of 
standard evaluation schemes. Such schemes are 
employed in the context of closed evaluation systems. 
A critical examination of the deficiencies inherent in 
conventional assessment instruments has identified 
a fundamental issue pertaining to the incompatibility 
between external pressures and internal transformations. 
The pace of change in the market is outstripping the 
capacity of the industry to adapt. Consequently, the 
utilisation of assessment instruments proves to be 
an ineffective approach. In situations of complexity, 
recommendations for overcoming instability are 
frequently limited to adjustments in the ranges of  
key parameters, which can result in a shift in the 
enterprise's strategic objectives.

In order to maintain consistency of goals, each 
company needs a unique valuation tool. A study of 
such tools has shown that the objectivity of valuation 
recommendations in a rapidly changing environment 
is closely linked to the readiness of management to 
conduct a fundamental diagnosis of the company's 
condition. As a result, the company receives reliable 
conclusions about its real state.

The fundamental diagnosis is conducted in a strict 
sequence, with four phases of assessment ensuring 
comprehensive evaluation. The phases collectively 
demonstrate the role of each phase within the five-stage 
life cycle of diagnosing the organisation's performance 
capacity.

An analysis of the actions undertaken in each phase 
of the assessment revealed a deficiency. The existing 
uncertainty had an impact on the diagnostic tools 
employed in each phase. The methodology employed 
in the development of these tools was derived  
from the utilisation of sensemaking technology. In order 
to apply this technology, it was necessary to expand 
the original value hierarchy to encompass seven levels. 
The modified hierarchy facilitated a comprehensive 
delineation of the algorithms employed in each  
phase. The implementation of these algorithms 
is outlined in terms of a system for collecting,  
processing, and analysing business information. 
This provides access to a reliable determination of 
an organisation's performance capacity through 
conclusions based on a reasonable range of key  
business indicators, including the discount rate and 
capitalisation rate.

The study identified eleven key points, which 
formed the basis of the mission statement for the 
development of a Unique Assessment Tool (UAT). 
These points elucidate that any alteration, even in 
regard to organisational expansion, transiently propels 
the enterprise into an unstable state. It is therefore 
essential that the developed tool provides an accurate 
and timely assessment of the contribution of any 
change to the goal's effectiveness. Furthermore, it is 
essential to ascertain the prerequisites that impede the 
assessment of effectiveness. Consequently, a system 
has been devised that permits a cost-based assessment 
of the organisation's overall performance, ultimately 
demonstrating its operational capacity.

The resolution of the issue pertaining to the 
determination of the serviceability status necessitated 

Figure 5. Results of the application of the enterprise standard at BY_CL

Note: figure created by the authors on the basis of business valuation

EU
R

internal



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a shift from the cost value pentagram to the UAT 
lifecycle model. During this transitionary period, it 
was determined that the stages were fully aligned.  
This provides a foundation for a comprehensive 
evaluation, integrating the conventional actions 
associated with the stages of the cost value pentagram 
and the distinctive decisions that must be made in each 
of the four evaluation phases.

By organising the actions and decisions into a unified 
system, a systematic approach to the full assessment 
procedure was established, comprising nine distinct 
steps. Consequently, a nine-step framework was  
devised, providing the foundation for the delineation 
of activities and outcomes at each stage. The definition 
of key indicators within the context of establishing 
their ranges of variation is of significant importance. 
This allows for the justification of adjustments to the 
limits of strategic parameters, with a focus on securing 
accountability rights in the form of an enterprise 
standard.

The comprehensive details of the standard are 
presented in the form of a fifteen-step action plan, 
which is utilised for conducting a comprehensive  
UAT-based assessment. These instructions are applied 
in BPO-class enterprises where intangible assets 
constitute a value exceeding 80%.

In the course of the comprehensive evaluation  
of the enterprise's operations, all stipulations set 
forth in the standard were met without exception.  

The step-by-step instructions permitted the gathering 
and processing of business information across six 
hundred parameters, thereby enabling the identification 
of pivotal signals that impede the sustainable 
operation of the enterprise. Based on these findings, 
the circumstances that precipitated the organisation's 
decline were recreated, prospective growth pathways 
were delineated, and the enterprise was valued at 
208,000 EUR. The value increase was found to be 
171.2%.

The final section of the study is concerned  
with the efficacy of the implementation of the standard 
at the enterprise under review. The project's payback 
period over a five-year horizon was 2.75 years,  
taking into account the initial investment of  
23,000 EUR and a discount rate of 15%.

The objective of this study is to develop 
a comprehensive evaluation procedure for enterprises, 
with the aim of assisting management in identifying 
and addressing the consequences of organisational 
difficulties. In particular, the procedure will address 
the formation and allocation of a savings fund resulting 
from the prevention of incurred losses.

The practical value of the study lies in the formulation 
of recommendations that facilitate the recovery of 
lost functionality as the current set of key variables is 
examined. This process allows for the identification of 
weak links in the system and the elimination of their 
negative impact.

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Received on: 07th of October, 2024
Accepted on: 29th of November, 2024
Published on: 30th of December, 2024