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Introduction to Value

Introduction to Value. MMIM 511 Dr Mary Tate (VUW). Theories of quality and value are very old. Plato Aristotle St Thomas Aquinas Karl Marx Adam Smith. “Value” (examples?). Means to some good end. “Outcome expectation” or “usefulness”. Enjoyability. Similar to Utilitarian.

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Introduction to Value

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  1. Introduction to Value MMIM 511 Dr Mary Tate (VUW)

  2. Theories of quality and value are very old • Plato • Aristotle • St Thomas Aquinas • Karl Marx • Adam Smith

  3. “Value” (examples?) Means to some good end “Outcome expectation” or “usefulness” Enjoyability Similar to Utilitarian Similar to Hedonic Good “in itself”

  4. More “Value” (examples?) Hedonic? Intrinsic? Various types of outcome value Various types of outcome value Various types of outcome value Comparative

  5. Value co-creation Vargo et al. (2008)

  6. Value co-creation Payne et al. (2008)

  7. Value co-creation User-created content or applications Unbundled “servitized” IT components

  8. Who or what affects it - context?

  9. How • Ask people? Surveys? • Holistically? Continuously? • Formally or informally? • Formative or summative?

  10. In conclusion • Cost reduction is a common focus because it is “easy” • What we mean by value and what we mean by the technology or the system are not always clear • Human factors are very important • Perceptions (satisfaction) can be difficult to reconcile with figures • Time in the life cycle makes a big difference

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