Creating and Capturing Value at Work : Who Benefits? Part 2: Measurements Report

Findlay, Patricia and Thompson, Paul and Cooper, Christine and Pascoe-Deslauriers, Rachelle (2018) Creating and Capturing Value at Work : Who Benefits? Part 2: Measurements Report. [Report]

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    Abstract

    In Creating and Capturing Value at Work: Who benefits? Part 1, we made four key arguments 1. Value has to be considered as an integrated process, combining creation and capture. 2. The relationship between valuecreation and capture can be complex and varied, and cannot be ‘read off’ easily, located as it is in specific institutional, legal, governance and organisational contexts. 3. Notwithstanding the dominance of the maximising shareholder value (MSV) model, there is scope for strategic choices that mediate the relationship between value-creation and capture. 4. Disciplinary perspectives act as different lenses or prisms with which to view value and that reframing value from a multidisciplinary perspective has significant potential to improve our understanding of the value process and the scope for – and challenges in – exercising strategic choice to deliver value outcomes. In this follow-up report some of these key arguments are applied more concretely to measures or indicators of value. Measures of value can be narrow or broad. Value can also be measured at different levels. And measures of value can also appear to be – and be – inconsistent with each other. The idiom of ‘what gets measured gets managed’ is at one level true and yet can obscure costly, perverse and unintended consequences. Measures or indicators of value in businesses range from a relatively small number that are required by financial regulation and the vast array of measures collected in organisations at organisational, sub-unit and individual levels. Measures of value and costs of that value (that is, externalities) also exist at an extra-organisational level, for example at the level of the national or regional economy.