Value Creation and Value Capture: A Multilevel Perspective

As an introduction to the special issue topic of value creation, we define value creation in terms of use value and exchange value and discuss some of the key issues related to its study, including the topic of value capture. Although the definition of value creation is common across levels of analy...

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Bibliographic Details
Published in:The Academy of Management review 2007-01, Vol.32 (1), p.180-194
Main Authors: Lepak, David P, Smith, Ken G, Taylor, M Susan
Format: Article
Language:English
Subjects:
Business management
Business organization
Business studies
Competition
Organization theory
Organizational behavior
Strategic management
Studies
Value
Value added
Value creation
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Summary:As an introduction to the special issue topic of value creation, we define value creation in terms of use value and exchange value and discuss some of the key issues related to its study, including the topic of value capture. Although the definition of value creation is common across levels of analysis, the process of value creation will differ based on whether value is created by an individual, an organization, or society. We use the concepts of competition and isolating mechanisms to explain how value can be captured at different levels of analysis. [PUBLICATION ABSTRACT]
ISSN:0363-7425
1930-3807
DOI:10.5465/AMR.2007.23464011