“value creation” is the act of creating a product capable of contributing to the satisfaction of human needs under the conditions of scarcity.
The conceptual basis of the way in which “value creation” takes place is called “value creation logic”. It is substantiated by a certain “value creation architecture”. This is of particular importance when “value creation” takes place as a result of the cooperation of several actors. Such cooperative “value creation” can take various forms. The concept of the “value chain” attracts particular attention in the field of business administration. In such chains value arises as a result of the interaction of several actors in a successive sequence of individual actions.
Digitalization and digital transformation entail the establishment of highly interconnected networks in which “value creation” is taking place to an increasing extent. These new structures are known as the “value grid” or “value network”. The word “value creation structure” is used as a generic term. The disruptive potential of digitization manifests itself in the change in the “value creation logic”. The redesign of the “value architecture” is a direct consequence of the “digital disruption”. This type of change in “value creation structures” creates new opportunities, “digital opportunities” for technical and organisational innovation from which new products and services can emerge.
Digital change also leads to the value-generating actions being carried out using new technologies. The “value creation” thus achieved is referred to as “electronic value creation” or “digital value creation”.
From a strategic perspective, one of the key challenges for management is to define a business model according to which a company can fit into the value chain in such a way that the core competencies of the company can be brought to bear in such a way that the company can make an indispensable contribution to cooperative value creation in a unique way.