The Evolution of the Production Function: Transition to the “Value Creation Cube”

Moira Scerri () and Renu Agarwal ()
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Moira Scerri: University of Technology Sydney
Renu Agarwal: University of Technology Sydney

A chapter in Driving the Economy through Innovation and Entrepreneurship, 2013, pp 561-572 from Springer

Abstract: Abstract This chapter is theoretical in nature and follows the evolution of production in the context of developed nations. We begin with the physical nature of industrial economies of the past, move to the service- and knowledge-based economies of the present, and incorporate the emerging creative industries where human creativity forms the basis on which value is created. Paralleled to this is the contributions of academic scholars whose theories and models have provided understanding and meaning at each of these evolutionary stages. The chapter culminates with our contribution which recombines aspects of each of the models to form the Value Creation Cube framework. The Value Creation Cube framework represents the different perspectives of production, including the human elements of customers, suppliers, shareholders, employees and managers, whilst also provisioning for the technical components that enable the efficient communication and integration of each of the sub-components.

Keywords: Social Capital; Cash Flow; Service Process; Intellectual Capital; Free Cash Flow (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-81-322-0746-7_46

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DOI: 10.1007/978-81-322-0746-7_46

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