Exploring value as the foundation of value proposition design

Powell, Taman and Hughes, Mathew 2016. Exploring value as the foundation of value proposition design. Journal of Business Models 4 (1) , pp. 29-44.

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Abstract

Purpose: Business models define the activity system that an organization employs to create and capture value. As such, business models are essentially the application of strategic management. The term busi- ness model, however, suffers from definitional ambiguity which makes the construction of effective busi- ness models problematic. We argue that this ambiguity is largely due to a lack of clarity around value. This paper seeks to provide clarity around value and in doing so aid in the development of effective business models. Design: Theoretical paper that deconstructs value into use value and exchange value and develops these concepts. Findings: We deconstruct value into use value and exchange value to explain the micro-conditions of val- ue creation and capture. In doing so, we also provide an explanation of how VRIN and non-VRIN resources can be traded for gain as well as opening up greater strategic options for managers in their development of business models. Originality / Value: Against the background of the study’s focus on BMI, its comparably broad literature basis, and its quantitative and qualitative analysis approach, which provides straightforward recommen- dations for future research, the study caters an original contribution to the field.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > H Social Sciences (General)
Publisher:	journalofbusinessmodels.com
ISSN:	0160-6999
Last Modified:	20 Jun 2019 11:18
URI:	https://orca.cardiff.ac.uk/id/eprint/97107

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