Table 1 Main type of value Type of value...

Table 1

Main type of value

Type of value	Author and date	Definition
Value	European Standard 12,973:2000	Value is not absolute but relative, and different parties may view it differently in different situations^a
Value added	Article author 2020, 2025	Many resources, activities, and assets contribute value, but some do not. The project's process creates added value for customers. The value flows from the order, through the realization process, to the final delivery of the product or service^b
Value creation process	Amabile (1996)	The concepts of novelty explain the methods of evaluating creative acts and the moment of evaluating the product as creative, novel, useful, and valuable. The level of the new value creation process will depend on the subjective evaluation of a target user about the perceived novelty, namely: users' individual knowledge, understanding new product, and the culturally driven context^c
Value creation	Bowman and Ambrosini (2000)	“Value creation depends on the relative amount of value that is subjectively realized by a target user (or buyer) who is the focus of value creation, whether individual, organization, or society, and that this subjective value realization must at least translate into the user's willingness to exchange a monetary amount for the value received. The monetary amount:/a/exchanged must exceed the producer's costs (money, time, effort) of creating the value;/b/that a user will exchange is a function of the perceived performance difference between the new value that is created (from the new task, product) and the target user's (current task, product)”^d
Use value	Bowman and Ambrosini (2000)	Customers perceive value at a certain time. The unique value delivers some surplus to the customer (for example, new quality, new goods, a new product or service) that is always subjective to users. This is a combination of customer needs, such as quality, usefulness, features, performance, convenience, and aesthetics of a new product or service.^e It is monetary value – an amount that customers are prepared to pay
Exchange value	Bowman and Ambrosini (2000)	Exchange value is the value at the moment of sale. It is the amount realized at a certain point in time. This is the amount that the user pays to the seller for the perceived use value. The customer, seeing the benefits of the new product or service, serves as the achievement of exchange value^f
Value migration	Slywotzky (1996)	Value migration is a flow of economic and shareholder value from obsolete business models to new, more effective designs that are better able to satisfy customers' most important priorities. Value migration reflects changing customer needs that new competitive offerings satisfy. Value migration occurs when there is a disconnect between customer priorities and existing business designs^g
Value slippage	Lepak, Smith, and Taylor, (2007)	When one source or level of analysis creates value, another may capture it. We call this process “value slippage”^h
Value capture	Bowman and Ambrosini (2000)	Surplus is the difference between use value and exchange value. Surplus is the ability to develop innovation or new digital capabilities that offer personalized products or servicesⁱ

Type of value	Author and date	Definition
Value	European Standard12,973:2000	Value is not absolute but relative, and different parties may view it differently in different situations^a
Value added	Article author 2020, 2025	Many resources, activities, and assets contribute value, but some do not. The project's process creates added value for customers. The value flows from the order, through the realization process, to the final delivery of the product or service^b
Value creation process	Amabile (1996)	The concepts of novelty explain the methods of evaluating creative acts and the moment of evaluating the product as creative, novel, useful, and valuable. The level of the new value creation process will depend on the subjective evaluation of a target user about the perceived novelty, namely: users' individual knowledge, understanding new product, and the culturally driven context^c
Value creation	Bowman and Ambrosini (2000)	“Value creation depends on the relative amount of value that is subjectively realized by a target user (or buyer) who is the focus of value creation, whether individual, organization, or society, and that this subjective value realization must at least translate into the user's willingness to exchange a monetary amount for the value received. The monetary amount:/a/exchanged must exceed the producer's costs (money, time, effort) of creating the value;/b/that a user will exchange is a function of the perceived performance difference between the new value that is created (from the new task, product) and the target user's (current task, product)”^d
Use value	Bowman and Ambrosini (2000)	Customers perceive value at a certain time. The unique value delivers some surplus to the customer (for example, new quality, new goods, a new product or service) that is always subjective to users. This is a combination of customer needs, such as quality, usefulness, features, performance, convenience, and aesthetics of a new product or service.^e It is monetary value – an amount that customers are prepared to pay
Exchange value	Bowman and Ambrosini (2000)	Exchange value is the value at the moment of sale. It is the amount realized at a certain point in time. This is the amount that the user pays to the seller for the perceived use value. The customer, seeing the benefits of the new product or service, serves as the achievement of exchange value^f
Value migration	Slywotzky (1996)	Value migration is a flow of economic and shareholder value from obsolete business models to new, more effective designs that are better able to satisfy customers' most important priorities. Value migration reflects changing customer needs that new competitive offerings satisfy. Value migration occurs when there is a disconnect between customer priorities and existing business designs^g
Value slippage	Lepak, Smith, and Taylor, (2007)	When one source or level of analysis creates value, another may capture it. We call this process “value slippage”^h
Value capture	Bowman and Ambrosini (2000)	Surplus is the difference between use value and exchange value. Surplus is the ability to develop innovation or new digital capabilities that offer personalized products or servicesⁱ

Note(s)

European Standard, 12,973:2000, Value management;

Article author;

Amabile, T. M. (1996). Creativity in context. Westview Press, p. 36;

^{d, e, f}

Bowman and Ambrosini (2000). Value creation versus value capture: Towards a coherent definition of value in strategy. British Journal of Management, 11, 1–15;

Slywotzky (1996). Value migration: How to think several moves ahead of the competition. Harvard Business School Press;

Lepak et al. (2007). Value creation and value capture: A multilevel perspective. Academy of Management Review, 32(1), 181;

ⁱ

Bowman and Ambrosini (2000). Value creation versus value capture: Towards a coherent definition of value in strategy. British Journal of Management, 11, 1–15; Ambrosini and Bowman (2001). Tacit knowledge: Some suggestions for operationalization. Journal of Management Studies, 38(6), 12–15.

[ViewLarge]

Sharing Unavailable