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The Evolution of the Production Function: Transition to the “Value Creation Cube”

In: Driving the Economy through Innovation and Entrepreneurship

Author

Listed:
  • Moira Scerri

    (University of Technology Sydney)

  • Renu Agarwal

    (University of Technology Sydney)

Abstract

This chapter is theoretical in nature and follows the evolution of production in the context of developed nations. We begin with the physical nature of industrial economies of the past, move to the service- and knowledge-based economies of the present, and incorporate the emerging creative industries where human creativity forms the basis on which value is created. Paralleled to this is the contributions of academic scholars whose theories and models have provided understanding and meaning at each of these evolutionary stages. The chapter culminates with our contribution which recombines aspects of each of the models to form the Value Creation Cube framework. The Value Creation Cube framework represents the different perspectives of production, including the human elements of customers, suppliers, shareholders, employees and managers, whilst also provisioning for the technical components that enable the efficient communication and integration of each of the sub-components.

Suggested Citation

  • Moira Scerri & Renu Agarwal, 2013. "The Evolution of the Production Function: Transition to the “Value Creation Cube”," Springer Books, in: Chiranjit Mukhopadhyay & K B Akhilesh & R. Srinivasan & Anjula Gurtoo & Parthasarathy Ramachandran & (ed.), Driving the Economy through Innovation and Entrepreneurship, edition 127, pages 561-572, Springer.
    • Handle: RePEc:spr:sprchp:978-81-322-0746-7_46
    DOI: 10.1007/978-81-322-0746-7_46
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