Value and information – concepts and issues for management

Abstract

The notion of what is meant by “value” is explored and summarised in terms of its involvement in delivering the product/service attributes, considered necessary to create customer satisfaction. Investigates the business system in relation to the value chain, as well as citing the conflicting views of a number of authors upon this topic. A specific company is used as a template to bring out many of the notions that have been put forward. Concludes with the fact that the traditional value chain begins with the company’s core competences, whereas evidence suggests that modern value chain analysis reverses this approach and uses customers as its starting point.