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The co-evolution of organizational value capture, value creation and sustainable advantage

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  • Pitelis, Christos

Abstract

Despite recent emphasis on intra-organizational issues, scholarship on organizations, management and strategy remains unduly reliant on economic models, such as the industrial organization (IO) market structure-based analysis. The focus of such models is on price-output determination by firms and the economy-wide efficient allocation of scarce resources under conditions of full knowledge and certainty. This limits their usefulness for students of organizations who have concerns that are simultaneously wider and also focused on organizations, as opposed to just markets. In this paper, we aim to provide an answer and framework for analysing the most fundamental, indeed existential, issue of organization studies and strategic management scholarship. This is whether and how the pursuit of value capture from economic agents who perceive that they possess appropriable value creating advantages, capabilities and action potential, can motivate the emergence of organizations and their strategies and actions intended to capture socially co-created value in conditions of real life . To do so, we explore (the co-evolution of) value capture and creation and (their relationship to) organizational sustainable advantage (SA). In particular, we delve into the nature, determinants and relationship between organizational value capture and creation and explore causal pathways, trade-offs and their co-evolution, as well as vehicles through which SA can be effected in an evolving and uncertain environment. We also discuss implications for managerial practice, limitations and future research opportunities.

Suggested Citation

  • Pitelis, Christos, 2009. "The co-evolution of organizational value capture, value creation and sustainable advantage," MPRA Paper 23937, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:23937
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    File URL: https://mpra.ub.uni-muenchen.de/23937/1/MPRA_paper_23937.pdf
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    Cited by:

    1. ., 2013. "Diversity of consumers, product innovation and economic performance," Chapters,in: Competition, Diversity and Economic Performance, chapter 3, pages 48-66 Edward Elgar Publishing.
    2. Pitelis, Christos & Teece, David, 2009. "The (new) nature and essence of the firm," MPRA Paper 24317, University Library of Munich, Germany.
    3. Christos N. Pitelis & David J. Teece, 2010. "Cross-border market co-creation, dynamic capabilities and the entrepreneurial theory of the multinational enterprise," Industrial and Corporate Change, Oxford University Press, vol. 19(4), pages 1247-1270, August.
    4. repec:bla:jomstd:v:54:y:2017:i:6:p:906-928 is not listed on IDEAS
    5. Christos Pitelis, 2013. "Towards a More ‘Ethically Correct’ Governance for Economic Sustainability," Journal of Business Ethics, Springer, vol. 118(3), pages 655-665, December.
    6. Aleknavičiūtė Rasa & Skvarciany Viktorija & Survilaitė Simona, 2016. "The Role of Human Capital for National Innovation Capability in Eu Countries," Economics and Culture, De Gruyter Open, vol. 13(1), pages 114-125, June.
    7. Pitelis, Christos & Kelmendi, Pellumb, 2009. "The political economy of European anti-trust and industrial policy," MPRA Paper 23941, University Library of Munich, Germany.
    8. Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2012. "Who Is in Charge? A Property Rights Perspective on Stakeholder Governance," Working Papers 12-0102, University of Illinois at Urbana-Champaign, College of Business.
    9. Pitelis, Christos, 2009. "Foreign direct investment and economic integration," MPRA Paper 23938, University Library of Munich, Germany.
    10. Ren, Shengce & Eisingerich, Andreas B. & Tsai, Huei-Ting, 2015. "How do marketing, research and development capabilities, and degree of internationalization synergistically affect the innovation performance of small and medium-sized enterprises (SMEs)? A panel data," International Business Review, Elsevier, vol. 24(4), pages 642-651.
    11. Jones, Geoffrey & Pitelis, Christos, 2015. "Entrepreneurial Imagination and a Demand and Supply-side Perspective on the MNE and Cross-border Organization," Journal of International Management, Elsevier, vol. 21(4), pages 309-321.
    12. Rayna, Thierry & Striukova, Ludmila, 2016. "From rapid prototyping to home fabrication: How 3D printing is changing business model innovation," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 214-224.

    More about this item

    Keywords

    Value Creation; Value Capture; Sustainable Advantage; Co-evolution;

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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