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The Values of Strategy : Valuation Practices, Rivalry and Strategic Agency

Author

Listed:
  • Martin Kornberger

    (EM - EMLyon Business School)

Abstract

The concept of value is held dear by strategy theorists and practitioners alike as they share a concern about value creation, value propositions, value add, value chains, shareholder value and a plethora of other value constructs. Yet, despite its centrality, the concept of value has attracted limited attention in strategy scholarship. Most commonly, notions of value as profit or utility, inherited from economic theory, are assumed rather than analyzed. This paper advances the discussion of value in the strategy discourse by conceptualizing value as a correlate of valuation practices. Following this view, value is neither understood as the property of an object nor as a subjective preference; rather, values are constituted through valuation practices including rankings, ratings, awards, reviews and other valuation mechanisms that bestow values upon things in the first place. The paper explores this idea through analyzing valuation practices and their constitutive mechanisms; and it exploits this idea for the conceptualization of rivalry and strategic agency. The learnings are two-fold: because goods are ordered, hierarchized and "appreciated" by consumers, critics, competitors and others through mediating valuation practices, it follows that (1) rivalry takes place at the level of valuation practices as they constitute the spaces in which accounts of worth are constructed and contested; and that (2) strategic agency may be understood in relation to an actor's capacity to cope with and influence these valuation practices.

Suggested Citation

  • Martin Kornberger, 2017. "The Values of Strategy : Valuation Practices, Rivalry and Strategic Agency," Post-Print hal-02311977, HAL.
    • Handle: RePEc:hal:journl:hal-02311977
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    Cited by:

    1. Mennicken, Andrea & Kornberger, Martin, 2021. "Von performativität zu generativität: Bewertung und ihre Folgen im Kontext der Digitalisierung," LSE Research Online Documents on Economics 110925, London School of Economics and Political Science, LSE Library.
    2. McLaren, Josie & Appleyard, Tony, 2022. "Social movements, identity and disruption in organizational fields: Accounting for farm animal welfare," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 84(C).
    3. Giovanni Gavetti & Joe Porac, 2018. "On the Origin of Great Strategies," Strategy Science, INFORMS, vol. 3(1), pages 352-365, March.
    4. Plante, Maude & Free, Clinton & Andon, Paul, 2021. "Making artworks valuable: Categorisation and modes of valuation work," Accounting, Organizations and Society, Elsevier, vol. 91(C).
    5. Patrick Gregori & Patrick Holzmann, 2022. "Entrepreneurial practices and the constitution of environmental value for sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 3302-3317, November.
    6. Per L. Bylund & Mark D. Packard, 2022. "Subjective value in entrepreneurship," Small Business Economics, Springer, vol. 58(3), pages 1243-1260, March.
    7. Alexandra Langford & Geoffrey Lawrence & Kiah Smith, 2021. "Financialization for Development? Asset Making on Indigenous Land in Remote Northern Australia," Development and Change, International Institute of Social Studies, vol. 52(3), pages 574-597, May.
    8. Cuckston, Thomas, 2022. "Accounts of NGO performance as calculative spaces: Wild Animals, wildlife restoration and strategic agency," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 84(C).
    9. Daniel Fürstenau & Stefan Klein & Amyn Vogel & Carolin Auschra, 2021. "Multi-sided platform and data-driven care research," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(4), pages 811-828, December.

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