Advances in Management and Applied Economics

A Holistic and Cultural view of Value

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  • Abstract

    The concept of “value” has become a central theme in many disciplines that tried to develop a clearer understanding of this vital concept in today’s society and economy. Despite many concepts of value have gone through much theoretical transformation and adaptation to the existing contextual and systemic environments, no common view or consensus has been reached until today. The need to have a holistic perspective of the meaning of value and how value is created has been the subject of some prior work of mine. However, that did not answered all questions raised by the need for determining how society and culture also impact the value of things. This paper will revisit the previous mentioned holistic value theoretical concept and will present a new theoretical concept that encompasses the cultural and behavioral side of how things are valued by people. The proposed new model intends to establish a clear connection to the innovation process and how it affects the value of things.