To be perceived as strategic, all business professionals need to understand the concept of value. Value is key to strategy. Value is the foundation of the value chain, i.e. the interconnected value activities within the firm. Value activities are the physically and technologically distinct activities the firm performs. They are the building blocks by which the firm creates a product / service valuable to its buyers, i.e. the firm’s value proposition. Yet there is no common definition of value in academe / the business world. The ensuing alternative definitions of value lead to mistranslation / misinterpretation / misalignment in business. The Integrated Value Process (IVP) framework enables executives to manage value holistically.