When discussing the role of value creation in international business, the meanings and interpretations of value are essential in understanding its contextual manifestations. Somehow, it seems we know what value
means, but if you try to use it in different processes and contexts, in
relation to diverse actors, one might be surprised by the various
interpretations given to it. Some equate value with the monetary
equivalence of what people do or buy; others interpret it in a much
broader sense as merit or worth, which can be either tangible or
intangible, yet hard to define. Often, authors assume that either the
reader knows what value is and discuss what affects it or how it is
created, or simply explore it in a specific setting. Economics,
accounting, strategic management, marketing, sociology, and various
other academic disciplines have developed their specific interpretations
and models of value that are embedded in the perceptions of the worth
of subject matter (for a review of conceptualizations of value in
relevant disciplines see Ahen 2015: 83–86).