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Value-based Business Strategy

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Author Info
Adam M. Brandenburger
Harborne W. Stuart

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Abstract

This paper offers an exact definition of the value created by firms together with their suppliers and buyers. The "added value" of a firm is similarly defined, and shown under certain conditions to impose an upper bound on how much value the firm can capture. The key to a firm's achieving a positive added value is the existence of asymmetries between the firm and other firms. The paper identifies four routes ("value-based" strategies) that lead to the creation of such asymmetries. Our analysis reveals the equal importance of a firm's supplier and buyer relations. Cooperative game theory provides the underpinnings of the analysis. Copyright 1996 The Massachusetts Institute of Technology.

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File URL: http://www.blackwell-synergy.com/servlet/useragent?func=synergy&synergyAction=showTOC&journalCode=jems&volume=5&issue=1&year=1996&part=null
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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 5 (1996)
Issue (Month): 1 (03)
Pages: 5-24
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bla:jemstr:v:5:y:1996:i:1:p:5-24

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Web page: http://www.kellogg.northwestern.edu/research/journals/JEMS/

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Web: http://www.blackwellpublishing.com/journal.asp?ref=1058-6407&site=1

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

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  1. Kirsten Foss & Nicolai J. Foss, 2002. "Creating, Capturing and Protecting Value A Property Rights-based View of CompetitiveStrategy," DRUID Working Papers 02-02, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
    Other versions:
  2. Gérard Charreaux & Philippe Desbrières, 2001. "Corporate Governance: Stakeholder Value Versus Shareholder Value," Working Papers FARGO 1010301, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  3. Elena Revilla, 2004. "Strategic process in operations and environment dynamism: a brazilian - spanish comparative study," Working Papers Economia wp04-13, Instituto de Empresa, Area of Economic Environment. [Downloadable!]
  4. Nicolai J. Foss, . "Strategy, Bargaining, and Economic Organization: Some Thoughts on the Transaction Cost Foundations of Firm Strategy," IVS/CBS Working Papers 00-11, Department of Industrial Economics and Strategy, Copenhagen Business School. [Downloadable!]
  5. Adner, Ron & Zemsky, Peter, 2003. "Disruptive Technologies and the Emergence of Competition," CEPR Discussion Papers 3994, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  6. Tobias Kretschmer & Katrin Muehlfeld, 2006. "Co-Opetition and Prelaunch in Standard-Setting for Developing Technologies," CEP Discussion Papers dp0742, Centre for Economic Performance, LSE. [Downloadable!]
  7. Gérard Charreaux & Philippe Desbrières, 1997. "Gouvernance des entreprises:valeur partenariale contre valeur actionnariale," Working Papers FARGO 0970801, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
    Other versions:
  8. Adner, Ron & Zemsky, Peter, 2003. "Strategy Dynamics through a Demand-Based Lens: The Evolution of Market Boundaries, Resource Rents and Competitive Positions," CEPR Discussion Papers 3732, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  9. Nicolai J. Foss, 2002. "The Strategy and Transaction Cost Nexus Past Debates, Central Questions, and Future Research Possibilities," DRUID Working Papers 02-04, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  10. Casadesus-Masanell, Ramon & Ricart, Joan E., 2007. "Competing through business models," IESE Research Papers D/713, IESE Business School. [Downloadable!]
  11. Nicolai J. Foss, 1999. "Capabilities, Confusion, and the Costs of Coordination On Some Problems in Recent Research On Inter-Firm Relations," DRUID Working Papers 99-7, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  12. Adegbesan, Tunji, 2007. "Strategic factor markets: Bargaining, scarcity, and resource complementarity," IESE Research Papers D/666, IESE Business School. [Downloadable!]
  13. Sidney Winter, 2006. "The Logic of Appropriability: From Schumpeter to Arrow to Teece," LEM Papers Series 2006/21, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
    Other versions:
  14. Bernard Sinclair-Desgagné, 2004. "Corporate Strategies For Managing Environmental Risk (The International Library Of Environmental Economics And Policy – Volume xx)," CIRANO Working Papers 2004s-43, CIRANO. [Downloadable!]
  15. Nicolai J. Foss & Torben Pedersen, . "Transferring Knowledge in MNCs: The Role of Sources of Subsidiary Knowledge and Organizational Context," IVS/CBS Working Papers 00-12, Department of Industrial Economics and Strategy, Copenhagen Business School. [Downloadable!]
    Other versions:
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