If the firm is viewed as a network of value creating entities, then the question becomes how does each node in the network contribute to overall firm performance and how does it behave and respond to its own interests. In a value network, value creation is viewed as a collaborative, creative, synergistic process rather than purely mechanistic or a result of command-and-control. Each node in the network could be a stakeholder group, a resource, an organization, end-consumers, interest groups, regulators, or the environment itself. These networks are sometimes called a value network or value chain. The concept of business value aligned with the theory that a firm is best viewed as a network of relationships both internal and external. 4.1 Business value of information technology.4 Strategies for Creating Business Value.
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