VALUE ANALYSIS: Going into a Further Dimension
Value Analysis (VA), as it was originally conceived, was defined and applied as a cost cutting tool, in order to make products more competitive. That short scope was early identified as limiting further developments and applications of the concept, by its initial pathfinder, if no extra effort was made to take the concept into other levels of management and, consequently, of business. The many different and alternative applications of the concept and of its original methodology have taken many professional practitioners and scholars to theorize and apply new concepts and methods. We can find a tremendous number of different learning exercises and theoretical evolution from that work, but that has not yet answered many aspirations regarding the initial concept of value and value analysis. This paper aims at bringing a new and more comprehensive understanding to professional practitioners, scholars, trainers and students, about some major concepts and applied methodologies in the disciplines of Value Management (VM), Value Analysis (VA) and Value Engineering (VE).
Keywords:Value, Value Analysis, Function, Function Analysis, Value Management
L. D. Miles, “The challenge that lies ahead”, Value Engineering, Vol. 2, No. 2, pp. 69-70, 1969
P. A. Jensen, “Value concepts and value based collaboration in building projects”, CIB W096 Architectural Management: 'Special Meeting' on Designing Value: New Directions in Architectural Management of the CIBW096 Architectural Management, Technical University of Denmark, Lyngby, pp.3-10, 2005
A. Smith, “An inquiry into the nature and causes of the wealth of nations”, e-book published online in www.political-economy.com, 1776
I. Kopytoff, “The cultural biography of things: Commoditization as process” in: The Social Life of Things, Appadurai, A. ed., Cambridge University Press, Cambridge, pp.64-94, 1986 DOI: https://doi.org/10.1017/CBO9780511819582.004
A. Raval, C. Gronroos, “The value concept and relationship marketing” , European Journal of Marketing, pp.19-30, 1996 DOI: https://doi.org/10.1108/03090569610106626
J. C. Anderson, J. A. Narus, N. Kumar, Value merchants: demonstrating and documenting superior value in business markets, Harvard Business School Press, Boston, 2007
D. J. Flint, S. Woodruff, S. F. Gardial, “Customer value change in industrial marketing relationships”, Industrial Marketing Management, Vol. 26, No. 2, pp. 163-175, 1997 DOI: https://doi.org/10.1016/S0019-8501(96)00112-5
C. J. Clawson, D. E. Vinson, “Human values: a historical and interdisciplinary analysis”, Advances in Consumer Research, Vol. 5, pp. 472-477, Association for Consumer Research, Provo, UT, 1978
J. F. Engel, R. D. Blackwell, P. W. Miniard, Consumer behavior and marketing strategy, 6th ed., Dryden Press, Chicago, IL, 1990
M. Rokeach, The nature of human values, Free Press, New York, NY, 1973
J. N. Sheth, B. I. Newman, B. L. Gross, “Why we buy what we buy: a theory of consumption values”, Journal of Business Research, Vol. 22, No. 2, pp.159-170, 1991 DOI: https://doi.org/10.1016/0148-2963(91)90050-8
G. J. Hooley, J. Saunders, Competitive positioning: the key to marketing strategy, Prentice Hall, New York, NY, 1993
G. S. Day, Market driven strategy, Free Press, New York, NY, 1990
J. P. Peter, J. C. Olson, Consumer behavior and marketing strategy, (2nd ed.), Irwin, Homewood, IL, 1990
S. Boztepe, “User value: competing theories and models”, International Journal of Design, Vol. 1, No. 2, pp. 55-63, 2007
R. S. Hartman, The structure of value: foundations of a scientific axiology, Southern Illinois Press, Carbondale, IL, 1967
M. T. Fernandes, “Business strategic model”, International Journal of Innovation, Management and Technology, Vol. 2, No. 4, pp. 301-308, 2011
L. D. Miles, Techniques of value analysis and engineering, McGraw Hill, New Your, NY, 1972
European Committee for Standardization, Value management–Vocabulary–Terms and definitions, EN 1325:2014 European Committee for Standardization, Brussels, 2014.
SAVE, Value standard and body of knowledge, SAVE International, 2007.
Value Management Handbook, European Commission DG XIII L-2920, Luxembourg, 1995.
European Committee for Standardization, Value Management, EN 12973:2000 European Committee for Standardization, Brussels, 2000.
M. T. Fernandes, “Innovation: technological and cultural construct model”, International Journal of Economics, Finance and Management, Vol. 3, No. 7, pp. 351-370, 2014
A. W. Lay, “Consumer values, product benefits and customer value: a consumption behavior approach”, Advances in Consumer Research, Vol. 22, No. 1, pp. 381-388, 1995
A. Griffin, J. R. Hauser, “The voice of the customer”, Marketing Science, Vol. 12, No. 1, 1993 DOI: https://doi.org/10.1287/mksc.12.1.1
G. Zaltman, R. H. Coulter, “Seeing the voice of the customer: metaphor-based advertising research”, Journal of Advertising Research, Vol. 35, No. 4, pp. 35-51, 1995.
J. R. Hauser, Note on the voice of the customer, MIT, Cambridge, MA, 2008
S. U. Kucuk, “Consumer exit, voice, and power on the internet”, Journal of Research for Consumers, No. 15, pp. 1-13, 2008
SAVE, Monograph–Function: definition and analysis, SAVE International, 1998.
N. Rich, M. Holweh, “Value analysis / value engineering”, Report produced for the EC funded project “INNOREGIO: dissemination of innovation and knowledge management techniques”, Lean Enterprise Research Centre, Cardiff, U.K., 2000
V. Allee, “The value evolution: addressing larger implications of an intellectual capital and intangibles perspective”, Journal of Intellectual Capital, Vol. 1, No. 1, pp.17-32, 2000 DOI: https://doi.org/10.1108/14691930010371627
How to Cite
MetricsAbstract Views: 672
PDF Downloads: 892
Authors who publish with this journal agree to the following terms:
- Authors retain the copyright and grant the journal the right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) after its publication in ETASR with an acknowledgement of its initial publication in this journal.