A Model of Value Creation: Strategic View |
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Authors: | Cengiz Haksever Radha Chaganti Ronald G. Cook |
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Affiliation: | 1. College of Business Administration, Rider University, Lawrenceville, NJ, 08536, U.S.A
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Abstract: | Value creation has long been hailed as the major objective of business firms by many management researchers. Some authors state that a firm must create value for its shareholders; some insist that value must be created not just for shareholders but also for all stakeholders. However, most discussions of value creation do not address an important question: "For whom the value is created?" The purpose of this paper is to take a first step to fill this void and propose a model of value creation along three dimensions: financial, nonfinancial, and time. It is hoped that the model will contribute to a better understanding of how strategic and operational decisions of managers may create value for some stakeholders while destroying it for others. |
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