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The Sustainable Value Creation Diamond: The Resource-Based Theory Approach

Author

Listed:
  • Paul Stefan Markovits

    (National University of Political Studies and Public Administration, Faculty of Management, Bucharest, Romania)

Abstract

The Sustainable Value Creation Diamond is a metaphorical model for leaders in any firm aiming to create sustainable value. The paper’s purpose is to further develop earlier original work done by the author initially focused on farms, making it now applicable to all types of firms. It builds on the Resource-Based Theory of the firm broadening the model’s use to the management of a wide spectrum of organizations. The importance of “Time” in “Value Creation” is recognized through the construct of “Time to Value Capture”. The diamond metaphor’s source domain meaning is that of lasting and sought after value. It is an original graphical model and a powerful illustration of the core claims of the model. The model could be used as a blueprint in the decisional process of an organization as well as an educational tool to illustrate the synergies in the existent literature on firms’ performance.

Suggested Citation

  • Paul Stefan Markovits, 2024. "The Sustainable Value Creation Diamond: The Resource-Based Theory Approach," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 452-459, August.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:452-459
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    More about this item

    Keywords

    value creation; ESG; resource-based theory; metaphorical thinking;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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