Background. Multinational companies are seen as the key players of global markets. Despite the growing power of business and multinational corporations, the state has the role to play in the execution of responsible and lawful behaviour of companies through employment of a variety of measures e.g. legal provisions, judicial mechanisms, and internationally recognised soft law standards.
Research aims. The aim of this article is to discuss the role of the state in providing the framework ensuring responsible business conduct through the implementation of the OECD Guidelines for Multinational Enterprises and effectiveness of functioning of the OECD National Contact Points (NCPs) as tools for observance of corporate behaviour.
Methodology. The argumentation presented is based on literature review, conference materials, documentary and internet sources analysis and synthesis, as well as interviews conducted with representatives of the OECD National Contact Points located in selected CEE countries and Western Europe.
Keywords: corporate social responsibility, foreign direct investment, OECD Guidelines for Multinational Enterprises.
Globalization, internationalisation of business, and the processes of privatisation of the state function, shifted the power from the state to the market, whereas multinational companies (MNC) have been perceived as the primary shapers of contemporary global economy. According to Dylus, the crisis of state structures is caused by unilateral dynamics of economic growth rooted in the lack of proportion between politics, economy, and society. Foreign direct investment (FDI) is considered as a measure of activities of MNC. The state uses various strategies to attract FDI, that plays an important role in development of economies especially in the context of technology transfer, improvement of productivity, creation of workplaces, transfer of managerial skills, and gaining access to global markets. That was also the case of Central and Eastern European (CEE) countries that remain attractive areas to establish business operations. Despite certain benefits associated with MNC's, some shadows also emerge mostly in the area of violations of human rights, tax evasion, environmental pollution, etc. The need for greater transparency and accountability of MNCs seems to be getting high priority in the global debate on socially responsible business, especially in the context of the upcoming legislation on non-financial reporting of enterprises.
Background. Public and private sectors have different characteristics, on the other hand, there is a tendency among citizens to expect the same quality of services in public administration organisations or in the wider public sector as in privates ones. Knowledge management can certainly improve the services of the public sector. History has shown that many of the original management concepts are implemented and refined in the private sector, and they are then transferred to the public sector. The ISO quality management system is a typical example. Case studies show that after a few years of ISO application, some municipalities do not certify it any longer. Knowledge management is not subject to certification as a quality system, but evaluation and continuous improvement of the quality system caused that the elements of knowledge management are included in the quality system.
Research aims. Knowledge management is present in scientific literature on both the private and public sectors. By comparing the approaches to knowledge management among employees at different levels and in different companies it will be possible to answer the question regarding the differences in knowledge management and how they extend.
Methodology. A questionnaire survey was conducted in 2014-2015 in private companies and different public organisations from various sectors located in Podlaskie Province.
Key findings. Perceptions of the degree of implementation of knowledge vary considerably between public and private organisations. The IT system plays significantly different roles in both types of organisations. The public organisations use mainly external databases and the Internet, while the companies use database management systems and superior customer support organisations and flow of knowledge. The confidence levels also vary but the differences are not as significant as in other areas. Public sector workers also acknowledge significantly greater barriers in the implementation of knowledge management.
Keywords: knowledge management, public organisations, barriers of knowledge management.
The mode of knowledge management was top in the 90s of the last century in western countries and then in the beginning of the new millennium in Poland. A wide diverse range of seminars and conferences for academics as well as practitioners was organised and we can read many scientific papers, books, or professional papers about knowledge management.
In modern management, that is mainly focused on organisational innovations and effective managing of people, the importance of uncertainty, dynamics of changes, and risk in the right functioning of organisations are emphasised. These conditions relate to the private sector as well as public and non-governmental organisations. Together with the scarcity of resources they generate the need for using contemporary man-agement concepts. Essential importance is attached to the human factor operating in the network of relationships. Moreover, the holistic orientation alongside the ability to analyse the functioning of organisation specific areas, as well as using appropriate management methods become necessary. However it is difficult to analyse specific areas of an organisation without taking into account the dynamics of political, organisational, and social factors. Therefore, the faces of contemporary management relate to a vast range of methods directed at ensuring effectiveness in functioning of organisations.
In this book, attempts were made to reflect the current research trends in management sciences. For this purpose, the publications focused on three main research fields. The first of these refers to the Human Resource Management, the second to Corporate Social Responsibility, and the third takes into account contemporary management methods. Articles included in this study concern both the theory and practice of contemporary management.
The first chapter by Barbara Mazur refers to the Green Human Resource Management with emphasis on the Green Work Life Balance. The author presents in it the sustainability in Human Resources Management, sociological, psychological, strategic, and “green” approach to the analysed subject and interactions between life and work domains. She focuses on green work-life-balance policies. As a result, she finds that Sustainable HRM is conditioned by the relations between individual model approaches.
In the second article Algirdas Giedraitis and Rimantas Stašys explore working group's value orientations within a construction company. They show the value orientation, value of group working, the most important professional values, and the hierarchical structure of value formation. In the article, a model of forming value orientation within the working group is developed. The authors also conduct a quantitative analysis of factors of the developed model. In the conclusions they state that presently factors related to value orientations are a basis of work in a group.
Background. Lithuanian and foreign researchers have carried out extensive studies of the impact of an organisational culture on the performance of business enterprises. A strong organisational culture in a healthcare institution is also believed to lead to a good reputation of an institution and its better performance. However, it is not clear what quantitative parameters could be used to define the organisational culture in a healthcare institution and which specific performance indicators are affected by it.
Research problem. which quantitative parameters can be used to assess the organisational culture of the divisions of a clinical lab (hereinafter: Lab) and how does the performance of an institution depend on its organisational culture?
Research object. the organisational culture in the Lab divisions and their performance.
Research aims. to establish the impact of the organisational culture on the performance of the Lab divisions.
Methodology. analysis of internal and external information sources of the Lab by means of a questionnaire survey, a structured interview, and the processing and analysis of the findings.
Findings. As established, an organisational culture in a healthcare institution tends to inspire and motivate its staff to deal with common problems, to feel responsibility, and to pursue common goals of individual staff members and the organisation. Successful Lab divisions boast a strong organisational culture which makes a positive impact both on individual performance elements and on the overall performance. The Lab-declared policy is focused on quality performance as the most important value of the organisation. The better the organisational culture, the more intensive the activities of the Lab are, however, the dependence of the number of medical tests to be performed by one staff member on the organisational culture is weak.
Keywords: organisational culture, healthcare, impact, performance.
An organisational culture shall be defined as the synthesis of art, science, and religion. It helps to guide the organisational activities in the right direction and covers the values of the organisation under which a satisfactory solution to the problem is found. Contemporary executives have started to identify an organisational culture with a powerful strategic tool which directs people towards common goals, promotes initiative, and attracts and motivates people.
Background. Statistical indicators show that the efficiency of the Lithuanian healthcare system is not good enough. Indices provided in the 2014 report of Euro Health Consumer Powerhouse, compared to the results of other EU Member States, are often assessed as moderate or satisfactory only. The 2015 conclusions provided by the Council of the European Union contain recommendations to improve the performance results of the Lithuanian healthcare system. Moreover, knowing that the healthcare performance is not efficient is not very helpful. The biggest issue for the policy makers is to determine the reasons of the bad performance. It means that the processes and the outcomes have to be analysed, therefore specific and measurable criteria must be introduced.
Research aims. Following the analysis of statistical data, to identify the problem areas of the healthcare system, to point out the possible reasons for the problems and anticipate the actions, which could help effectively improve the performance results of the healthcare system.
Methodology. Analysis of statistical indices of 2014 carried out by Euro Health Consumer Powerhouse and of the performance measurement criteria adaptability and usage. In addition, a survey of the executives of Lithuanian healthcare institutions was carried out; the results of the survey will be systematized and used to examine the issue.
Findings. Performance measurement provides the information about the efficiency of the healthcare services from the perspective of service providers, users, and policy makers. The most challenging issue is the assessment of the performance and setting up the roots of the adjustable processes and outcomes. The survey of the Lithuanian healthcare institutions confirms the statistical data and helps to identify the problems of the healthcare performance.
Keywords: healthcare performance, performance indicators, performance criteria, quality indicators.
According to the data of Health Consumer Powerhouse (HCP), the quality of medical services in the EU Member States is gradually improving. This has been determined by the improvement of patients’ knowledge about diseases and their treatment methods, more effective service accessibility, lower number and frequency of treatment-related and complication risks and better treatment outcomes. Nevertheless, there are still problems and perhaps it is time to stop using present and previous crises as a cover, because according to the HCP information, the correlation between the level of a country's economic development and the quality of medical services provided is very low.
Background. The paper focuses on Green Human Resource Management and places emphasis on Green Work Life Balance. Green Work Life Balance focuses on the integration of private and professional life of the employee with reference to environmental attitudes, practices, and behaviours. According to this concept, green attitudes, practices, and behaviours must be enforced in both life domains of the employees in order to ensure that the green goals of the organisation are achieved.
Research aims. The aim of the article is to show the links between the presented as separate approaches from De Prins’ model of Sustainable Human Resources Manage-ment - the sociological, psychological, strategic, and green. This paper focuses on the link between the psychological approach - namelyWork Life Balance - and the green one. It presents a new paradigm in the understanding of the issue. It also stresses the relation between the private and organisational roles of the employees.
Methodology. The paper adopts a theoretical approach. It consists of a review and synthesis of varied sources of literature on Sustainable HRM, which is a relatively new approach to HRM in management sciences.
Findings. The article concludes that Sustainable HRM is conditioned by the relations between individual De Prins’ model elements. Therefore, the effect of sustainability in HRM can be fully tapped only if the individual model approaches-sociological, psychological, strategic, and green - remain in close relationship, and interweaving each other.
Keywords: sustainability, HRM, green work-life balance.
Many firms are beginning to shift from reliance on processes which exploit the environment toward those environmentally sustainable. Changes in corporate perspectives on the environment are evident in written policy statements, “environmental” job titles, attention devoted to managing relations with environmental groups, marketing strategies, decisions about capital investments, auditing practices, new product design and development, and production processes. The number of studies which seek to illuminate the role of HRM activities in supporting and perhaps even driving environmental management initiatives is increasing. This research might be helpful for organisations willing to reduce environmental degradation and tap the benefits of environmental protection and renewal, thus substantially contributing to the future benefit of all organisational stakeholders.
Background. Evaluation of public support for innovation poses serious methodological challenges. The reason for this lies in the systemic character of the innovation process and the need for more knowledge about the actual impacts of public interventions.
Research aims. The paper examines the specificity of the innovation process and the rationale behind public intervention in this field. It identifies the areas, which are crucial from the point of view of effective functioning of the innovation system and which should be recognised in evaluation. Systems thinking seems to be relatively new in the field of evaluation which has traditionally favoured more linear framework approach. Hence, the problem that deserves more consideration is: how to respond to the changing paradigms of innovation in the evaluation field.
Methodology. The method comprises a literature review, an analysis of the European Commission and OECD working papers, as well as a statistical analysis.
Findings. The paper distinguishes various approaches for impact assessment of the innovation policy: linear approach, based on input-output variables; an innovation system framework approach, which draws on the systemic understanding of the innovation process where many actors, their relations, and institutions affect the emergence of innovation; and a dynamic innovation system approach, which maps the processes (functions) of the innovation system over time in order to gain more insights to the dynamics of the innovation system. These different approaches build on each other and are the answer to identified shortcomings of the previous one as well as the growing need for more accurate assessment of the efficiency of public interventions.
Keywords: evaluation, impact assessment, public intervention, innovation.
INTRODUCTION AND BACKGROUND
Stimuli in public intervention impact analysis are growing. Due to the scarcity of public funds and growing societal expectations combined with the demand for greater government accountability, the focus of policy makers tends to be placed on the development of a systematic investigation of the effectiveness of public interventions. Monitoring and evaluation of public interventions provides feedback on their actual results and outcomes and it can be argued that they are a necessary precondition for a public organisation to be described as a learning organisation.
Background. Contemporary universities functioning in the conditions of intensifying globalisation and competition are looking for effective methods of increasing their competitive advantages. A clearly denned and consistently implemented SHRM strategy plays an important role in this process.
Research aims. The objective of this paper is to identify good practices of European universities in the area of strategic human resources management. The author has tried to acquire answers to two basic questions: On the basis of published documents, is it possible to identify examples of the execution of specific HRM strategies at European universities? What elements should such strategies comprise, so that universities could combine the fulfilment of their fundamental functions with modern management techniques?
Methodology. The analysis is based on the results of the author's study of literature on the subject as well as qualitative research based on a particular case. The research presented in this paper constitutes a part of a wider research programme.
Findings. The conducted research has allowed the identification of a specific HRM strategy in the area of organisational development at Utrecht University. The paper discusses the elements and stages of this strategy. In conclusion, the author emphasises that, in the Polish conditions, such a strategy would require considerable modifications.
Keywords: strategic HRM (SHRM), organisational development (OD), university management.
Effective management of a university in the 21st century is an enormous challenge for managers which results, among other things, from the changes in economic, social, and demographic processes as well as the development of new and innovative sectors of the economy. This challenge obliges university managers to develop and implement strategic activities which will guarantee an institution's organisational development irrespective of changes in its environment. The adoption of an organisational development strategy may ensure great prestige and competitive advantage for a university in the long term. An organisation acquires involvement, attachment, and loyalty of its employees, while the latter are provided with a possibility of safe employment, better working conditions, and development opportunities.
Background. Technology growth observed in the last decades has a huge impact on the IT sector. Many public and private organisations decide to introduce various high-tech improvements based on the latest IT solutions to increase efficiency optimize processes, lower the costs, etc. The success of those actions strongly depends on a deep understanding of the project goal, identification of all the crucial stakeholders and their needs, limitations, organisation context and culture, and many more. To increase the success of the project it is important to make the communication between the principal and the performer as efficient as possible. Unfortunately based on various research studies and observations inefficient collaboration is one of the frequent reasons of the IT solutions implementation failures.
Research aims. The aim of this paper is to identify dysfunctions in the collaboration between the Product Owner and the development team and verify whether Gamified Agile - a set of tools based on Agile methodologies, simulation games, and gamifica-tion - could be a potential solution to it.
Methodology. In the first phase - identification of the main problems occurring in the collaboration between the Product Owner and the development team - literature analysis, interview, and participating and non-participating observations are used. In the second phase - verification whether Gamified Agile could be used as a tool to improve it - experiment, interview, participating and non-participating observations are used.
Findings. The experiment during which the Gamified Agile tool was used by 12 different teams in 10 companies during the retrospective, lead to conclusions that the set of tools can be used as an instrument to improve communication and understanding between the Product Owner and the development team in the daily work on the project in all of its phases. The positive results of experimental verification of the tool lead to the conclusion that the Gamified Agile can be used as an effective instrument that can support the Product Owner and the development team in improving collaboration between them.
Background. The rationale behind the selection of the topic are the shifts that occur in education institutions. The uncertainty of the environment, progressive demographic de-cline, and the requirement of remaining competitive are driving schools to seek new ways to survive and present an attractive prospectus. One of the challenges faced by schools, and at the same time a legal obligation imposed by the legislation governing education, is the openness of schools to the environment - understood as the establishment of collaboration by the school with its local environment. The literature emphasises that openness to the environment proves to be one of the factors strengthening trust in the organisation. Trust is crucial in shaping mutual relationships between an organisation and its environment. The paper assumes that the prerequisite for engendering trust on the part of candidates and their parents is the appropriate fulfilment of the mission by schools through their efficient management, which maybe easily discerned when observing the quality of education.
Research aims. The paper strives to assess the impact of trust in schools on the enrolment results and to identify which principal contributors to trust are used in the practice of Polish schools.
Methodology. Accomplishing the objective of the paper was made possible by an analysis of the body of literature devoted to public trust, complemented by empirical studies. The studies were conducted on a targeted sample selected in an expert manner, comprising public upper-secondary schools located in the territory of the Silesian agglomeration. These studies used a structured interview methodology. The survey covered students in the first year of three upper-secondary schools (N = 15), their parents (N = 30), and principals of upper-secondary schools (N = 3). While selecting students for the survey, winners and finalists of Olympiads and competitions for schools were taken into consideration.
Key findings. The research process led to the conclusion that trust in schools has a direct impact on their enrolment results. Moreover, the findings show the degree to which the primary trust factors are harnessed in upper-secondary education institutions. Further in-depth research requires identification of interdependencies between trust and enrolment success of the school in the context of its ongoing collaboration with partners. After all, trust management constitutes a promising field of challenges for further detailed scientific research.
Background. In the article we analysed the issue whether staff training can help business organisations to overcome resistance to innovations. Scientific literature highlights the need to deal with unwanted employee resistance from the beginning of introducing innovations or changes.
Research aims. To find the reason for resistance to innovations of business organisations’ employees.
Methodology. In order to examine the identified problem quantitative research was conducted - written survey of employees of a group of enterprises of public passenger transport. The instrument of the survey was a questionnaire. In order to process the data obtained during the research version 19.0 of the program of statistical analysis and data processing SPSS (Statistical Package for the Social Sciences) was used. The credibility of the questionnaire was determined by calculating Cronbach's alfa coefficient (0.842). For the purpose of determining the statistical significance of respondents’ answers we applied the procedure of testing a non-parametric hypothesis; there were calculated correlation coefficients; factor analysis was applied as well.
Findings and Results. The research revealed that the higher the employee's education is, the more favourably the employee is inclined to value more organisational, but not personal, measures or actions of managers while reducing resistance to innovations. Meanwhile, those employees who possess lower education fear more to lose their jobs; they associate the introduction of innovations with increased requirements related to qualifications. It has been established that the higher the employees’ education, the lower their negative attitude with regard to innovation is.
The results of research partially confirmed the raised hypothesis - resistance to innovation is lower in those organisations, where more attention is paid to staff training.
Conclusions and Recommendations. The analysis of literature and the results of research lead to the conclusion that resistance to innovation can be overcome by the following general methods: education, training, communication, participation and involvement of employees, alleviation and support, negotiation and agreements, and manipulation or direct/indirect force. It is recommended while introducing in-novation in enterprises to apply the proposed model of negotiation of staff resistance to innovations.
Background. In the last few years not only the economists but also researchers from other fields such as law, media, etc. have been interested in corporate social respon-sibility. The relevance of the topic and the realisation of corporate responsibility were not only observed from a theoretical point of view, but also from practical points. Therefore, it can be clearly stated that CSR has become one of the most popular research topics in recent years, however, it seems that the competencies of the corporate leaders from CSR approach is a rather neglected research topic.
Methodology. The present research is devoted to this research topic through a quantitative primary research in order to have an insight into this area as well.
Findings. The detailed and complex study of the inner factors of the corporate leaders (both of their individual values and attitudes) reveals that self-enhancement shows a positive linear correlation with responsible corporate management among the Hungarian leaders of SMEs, and certain attitudes (altruistic benefit, moral benefit, and CSR≠PR attitudes) have determining roles, however, not exclusive.
Keywords: individual value, corporate social responsibility, CSR attitude, corporate managers.
In the last few decades, especially in the 1990s, corporate social responsibility and business ethics have become important concerns in the global business world.
The topic has been examined from a different aspect, however, because of its constant change and development it remained a topic of interest in the scientific life. The social responsibility of corporations has become such a multidisciplinary science that many disciplines show interest in it e.g.: politics, political theory, media, finance, law, marketing, and business theory. Topic related articles can be even read in the daily newspapers, while articles related to corporate social responsibility can be found in the issues of the Financial Times every second day.
There are more and more corporations that voluntarily decide to take on such strict social and environmental regulations that go beyond the regulations of the country they operate in. It can be explained by the fact that corporate decisions not only influence the direct environment of the corporation, but also the society. CSR is a complex management approach, which has its impact on all aspects of business activities and on the competitiveness of the corporation.
Background. Unsuccessful search of suitable employees for working groups is the largest obstacle in development of a construction business. Knowing, that employees are the most important resource, managers (owners) of business organisations are confronted with a serious problem to retain high quality specialists. A model of forming universal working group's value orientation is offered in this article. By applying it, goals of the organisation may be reached through consciously created orientation of values of the working group. During the process of adaptation and training, it is recommended to involve new employees into the process of values contamination and assimilation. The manager of the group must form (and retain) such orientation of values, which would provide members of the group with satisfaction of the performed task and would not disturb each personal goals.
Research aims. Research aim is to make a model of the working group's value orientation within a construction company and inspect it using research.
Methodology. Method analysis of scientific literature; quantitative research - written quiz (questionnaire). Questionnaire, processing of results and analysis were used.
Findings. After assessment of the working group's value orientations within a construction company it is possible to state, that employees like to work in a group, where regularity and honesty of the employee is appreciated, possibilities of constant development exist, the group is distinguished by oneness, the group's value orientation is understandable and acceptable to all of its members, and all members seek for a general goal.
Keywords: value orientation, working group, construction company.
In case of a lack of qualified construction employees, competition of such resources between construction organisations shall increase. Since builders are the most important factor in organisations of such nature, managers (owners) of business organisations are confronted with a serious problem of searching for highly qualified employees and their integration into the working group. Qualified, educated employees, or those possessing great work experience do not always entrench in working groups for various reasons. Companies try to attract employees, who often work at their competitor's company. Higher wages, education of personnel, and search of suitable employees are necessary to this aim.
BACKGROUND OF THE STUDY
In the field of strategic management the main enduring question concerns how firms generate and sustain a competitive advantage. The extant literature provides a wide array of diverse propositions, reflecting a heated debate on the relation between value creation and value appropriation (Hansen, 2008). Nevertheless, this on-going discussion is strongly affected by difficulties in reaching a conceptual consensus on the understanding of the generic concept of value (Bowman & Ambrosini, 2000; Pitelis, 2009; Lepak et al., 2007; Mazur, 2011). Consequently, for some scholars value creation is a more important perspective for investigating long term performance of an organization than the one of value appropriation, as the former represents a key driver of discovery, continuous innovation, economic development and adaptive efficiency (Moran & Ghoshal, 1997). In contrast, other research works point at capture as a more pertinent concept for exploring competitive advantage of firms, since value appropriation makes a direct impact on the profitability of an organization (Coff, 1999; Makadok & Coff, 2002). However, between those radical stances there is also a recently developed, balanced perspective that emphasizes the interrelationship and possible trade-off s between value creation and value capture, and the fact that both refer to necessary but insufficient conditions for an effective long term performance of a firm (Mizik & Jacobson, 2003; Ellegaard et al., 2009). By stressing interdependency and continuity, this balanced view is the most promising direction for investigating dynamics of both processes. There is a growing number of studies focused on exploration of the interplay between forces of competition and cooperation that affects value creation and appropriation processes (e.g. Zakrzewska-Bielawska, 2013; Czakon, 2012; Czakon & Rogalski, 2012; Cygler, 2009; Stańczyk-Hugiet, 2011; Jankowska, 2012). However, although extant research provides useful insights concerning dyadic coopetitive relations, the impact of redundancy of resources on the balance of competitive and cooperative forces, the impact of structural context on the dynamics of performed cross-organizational activities, the majority of published studies are in fact focused on value co-creation. Thus, a review of extant management literature confirms that developed frameworks and concepts provide a quite comprehensive picture of the dynamic nature of value creation, whereas value appropriation has received much less scholarly attention.
As value stands for a central purpose of economic activity and a cornerstone of economic thought (depicted as utility) it became a key term underpinning contemporary business studies by replacing product as the object of production and exchange. Firm performance is shaped by value creation and its appropriation (Mizik & Jacobson, 2003; Ellegaard et al., 2009; Czakon, 2012). Those intertwined processes have received an immense scholarly attention, yet the extant body of knowledge on management does not provide a comprehensive picture of value appropriation that captures its dynamic nature (Ellegaard et al., 2009; Czakon, 2012). Thus, the aim of this chapter is to disentangle value appropriation as an object of theoretical inquiry and empirical analysis. Hence, presented discussion concerns the notion of value in the strategic management field, starting with a generic definition of the term and then shifting the focus toward the interrelation and a non-linear occurrence of processes of value creation and value appropriation. Drawing on the assumption that both processes are separable at conceptual and analytical level, following two sections introduce the concept of value creation according to a contingent perspective. Acknowledging contingency conditions the next section explores the nature and the underlying logic of the concept of value appropriation in the strategic management field. That introduction to the contemporary understanding of the concept is followed by a detailed picture of the state of art on the subject, which is discussed in the next four sections. Presented reflections are based on a thorough review of seminal contributions referring to the industrial organization perspective, game theory conceptualizations, the resource based view of the firm and the profiting from innovations perspective. Thus, provided insights pertain not only to the field of management but also economics. In order to map those broad intellectual roots in a comprehensive and appealing way, conclusions formulated in the final section of this chapter are enhanced by a scheme illustrating interconnections between discussed theoretical contributions.
THE CONCEPT OF VALUE IN STRATEGIC MANAGEMENT
This section provides the foundations for understanding the concepts of value creation and value appropriation. Therefore, discussion begins with valuable insights to the the notion of value in the strategic management field. This generic concept is then conceptually dissagregated into value creation and value appropriation processes.
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