Strategic Management, Text and Cases by Pearson

106 STRATEGIC MANAGEMENT

performance and how their future performance will likely develop.

Whether value creation process starts with the employee culminating

with financial outcomes or whether value results from the simultane-

ous interplay of employees, internal business processes, customers, and

financial outcomes was studied by Bryant et al. (2002). They found that

simultaneous attention to all the four-value drivers results in maximi-

zation of overall value of the firm.

3.5

VALUE HIERARCHY, VALUE SHOP,

AND VALUE NETWORK

Value shop and value network are concepts developed as an alternative

to the value chain concept proposed by Micahel ...