The Valences of “Value” for the Strategic Management Process

Value represents one of the key concepts in strategic management, because the evolution of both the theory and practice of strategic management has been greatly shaped by the generic searching for value. But the approaches of value have been quite various and sometimes controversial, making value one of the most complex and dynamic determinants and metrics of the strategic competitiveness of the firm. Therefore, the paper aims to identify, based on literature review, the multiple valences value has for the strategic management process (in all of its phases: analysis, formulation and implementation), in order to capture as much as possible of its multiple facets (as concerns value drivers, value creation and value distribution) into a comprehensive framework – able to successfully manage and measure the contribution of value to the strategic competitiveness of the firm, while enhancing it.