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Pages: 29 (7142 mots) Publié le: 13 janvier 2011
Towards an Integrated Perspective of Strategy: The Value-Process Framework

06-04 Dr. Albrecht Enders Andreas König Prof. Dr. Harald Hungenberg

Autoren
Dr. Albrecht Enders Wissenschaftlicher Assistent am Lehrstuhl für Unternehmensführung an der Friedrich-Alexander Universität Erlangen-Nürnberg Andreas König, MBA, MMus Wissenschaftlicher Mitarbeiter am Lehrstuhl für Unternehmensführung ander Friedrich-Alexander Universität Erlangen-Nürnberg Prof. Dr. Harald Hungenberg Inhaber des Lehrstuhls für Unternehmensführung an der FriedrichAlexander Universität Erlangen-Nürnberg und Gastprofessor an der ENPC in Paris. Wissenschaftlicher Leiter des Instituts für Unternehmungsplanung

The Value-Process Framework

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Table of Contents

1 2 2.1 2.2 3 3.1 3.2 3.3 4 5

Introduction..........................................................................................................3 The Value-Process Framework: Creating and Capturing Value ...........................5 Creating Value.....................................................................................................6 Capturing Value..................................................................................................7 Integrating Managerial Frameworks of Strategic Management through the ValueProcess Framework .............................................................................................12 Generic Strategies and the Value Process.............................................................12 The Value-Chain Framework and the ValueProcess.........................................13 The Five-Forces Framework and the Value Process ............................................16 Implications ........................................................................................................18 Limitations and Outlook ....................................................................................19

Summary
The discipline of strategic management has the goal tobetter understand why companies succeed based on a holistic, overarching perspective. However, until now the strategic management literature has not provided a conceptually unifying framework that explicitly integrates the different dimensions of strategy development. The goal of this paper is to fill this gap by presenting the Value-Process Framework. The contribution of this framework is theintegration of the different and separate perspectives of strategy into one consistent, holistic model. The framework can be used (1) to analyze the different levers of competitive advantage, (2) to develop consistent and integrated strategies that simultaneously take into account the internal and external perspectives of strategic decision making, and (3) to communicate these strategies to a wideraudience.

The Value-Process Framework

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1

Introduction

The discipline of strategic management is “devoted to the problems of the company as a whole” (Andrews 1980). While other management disciplines such as marketing or finance look at more specific topics from a focused point of view, strategic management has the goal to better understand why companies succeed based on a holistic,overarching perspective (Hafsi and Thomas, 2005). As Michael Porter (quoted in Argyres and McGahan, 2002) explains: “Unless at some point the company can see the design, see how the pieces fit, and make the interdependent choices consistent, the company is not going to be successful.” This holistic perspective is also emphasized by the majority of the most widely read text books such as Grant(2002), Besanko et al. (2003), Johnson and Scholes et al. (2005), or Barney and Hesterly (2005). The authors of these books all point out the great importance of demonstrating the interdependencies between the different dimensions in strategy development. However, even though they present important frameworks, such as Porter’s Five Forces for the analysis of the industry structure, the Value Chain...
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