Dynamic, matrix-based, adaptive, and market-driven businesses are complex. Executives are exhorted to coordinate intra- / inter-firm value activities for multiple stakeholders while simultaneously maintaining profitability. To do so, executives need a “new way of thinking” about integrated value management and a more relevant set of management principles based on systems theory / practice. 21st century business problems are difficult. They are made even more complex by incomplete, contradictory, and changing requirements. Systems researchers call these “wicked problems” with inherent “messiness”. Optimizing value within firms / across value chains is one such problem. Don’t let your company become a place “where value goes to die.” Avoid this “wicked problem!” Use the Integrated Value Process (IVP) framework to ensure value flows across your value chain.
In order to understand value, one needs a robust theory of value (conceptual intelligence), a way of properly specifying value (encoded intelligence), an effective way to communicate value (emotional intelligence), and a way to decide which actions / activities to undertake (experiential intelligence). One needs to integrate or synthesize all four areas to be effective – for value to flow. Moreover, individuals across the organization need to do so simultaneously in order for value to flow across the organization and / or value stream. Read More
To be perceived as strategic, Knowledge Management (KM) professionals need to understand the concept of value. Perhaps it comes as no surprise to KM practitioners that there is surprisingly little consensus on the definition of value in academe / practice. The ensuing alternative definitions of value lead to mistranslation / misinterpretation / misalignment. Read More