Inversión en recursos para crear valor: ¿Pero valor para quién?
DOI:
https://doi.org/10.21754/iecos.v24i1.1720Palabras clave:
creación valor versus entrega de valor, shareholders y stakeholders, flujo de caja neto, múltiples medidas de valorResumen
La creación de valor ha sido durante mucho tiempo un tema de gran interés en la gestión en general, y en la toma de decisiones estratégicas en particular. Aunque muchos enfoques de gestión han descrito y explicado el significado de “creación” de valor, algunos de ellos se han concentrado en mejorar las operaciones y, por lo tanto, en la “entrega” de valor: cómo alinear recursos y actividades para convertir materias primas en productos terminados. Otros enfoques se centran en la “creación” de valor para un tipo particular de partes interesadas (stakeholders). Este trabajo enfatiza la cuestión de la creación de valor como valor potencial, que gira en torno a la estrategia de la empresa; y también enfatiza la necesidad de tener un enfoque sistémico y holístico que considere a los diferentes stakeholders de la empresa. Si la gerencia no comprende el significado de valor, podría crear algo que sea irrelevante para los stakeholders. Se mostrará que, en un ambiente competitivo, para crear valor para los inversionistas en el largo plazo, la gerencia primero debe crear valor para los otros stakeholders: clientes, proveedores, empleados y la sociedad.
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https://cdn.www.gob.pe/uploads/document/file/389615/Estudio__An%C3%A1lisis_de_rentabilidad_de_planes_de_salud_de_las_entidades_prestadoras_de_salud20191016-26158-1hj4x8z.pdf?v=1571207281
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Spetzler, C., Winter, H. & Meyer, J. (2016). Decision Quality, Value Creation from Better Business Decisions. Wiley. https://doi.org/10.1002/9781119176657
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Woiceshyn, J. & Falkenberg, L. (2008). Value creation in Knowledge-based firms: aligning problem and resources. Academy of Mangement Perspective, 22(2), 85-99. https://doi.org/10.5465/amp.2008.32739761
Brown, S. P., & Lam, S. K. (2008). A meta-analysis of relationships linking employee satisfaction to customer response. Journal of Retailing, 84(3), 243-255.
https://doi.org/10.1016/j.jretai.2008.06.001
Byers, S. S., Groth, J. C., & Wiley, M. K. (1997). Managing Operating Assets to Create Value. Management Decision, 35(2), 133-142.
https://doi.org/10.1108/00251749710160296
Copeland, T, Koller, T. & Murrin, J. (1996). Valuation, Measuring and Management the value of companies. John Wiley.
Crouhy, M, Galai, D. & Mark, R. (2001). Risk Management. McGraw Hill.
Crouhy, M, Galai, D. & Mark, R. (2006). The Essentials of Risk Management. McGraw Hill. https://lemdoeundaloem.files.wordpress.com/2013/08/1-the-essentials-of-risk-management-2005.pdf
Freeman, R. E. (1984). Strategic Management: A stakeholder approach. Pitman.
Heskett, J. L., Jones, T. O., Loveman, G. W., Sasser, W. E., & Schlesinger, L. A. (1994). Putting the service-profit chain to work. Harvard Business Review, 72(2), 164-170.
Howard, R.A. (1966). Decision Analysis: Applied Decision Theory. Proceedings of the Fourth International Conference in Operational Research. Reprinted in Howard, R.A., & Matheson, J. E. (1984).
Howard, R. A., & Matheson, J. E. (2005). Influence Diagrams. Decision Analysis, 2(3), 127-143. https://doi.org/10.1287/deca.1050.0020
Howard, R. A., & Matheson, J. E. (2005). Influence Diagrams Retrospective. Decision Analysis, 2(3), 144-147. https://doi.org/10.1287/deca.1050.0050
Jensen, M. (2001). Value maximization, stakeholder theory, and the corporate objective function. European Financial Management, 7(3), 297-317.
https://doi.org/10.1111/1468-036X.00158
Jones, T. O. & Sasser, W.E. (1995). Why satisfied customers defect. Harvard Business Review, 73 (6), 88. http://www.van-haaften.nl/images/documents/pdf/Why%20satisfied%20customers%20defect.pdf
Kang, S. C., Morris, S.S., & Snell, S.A. (2007). Relational archetypes, organizational learning, and value creation : Extending the human resource architecture. Academy of Management Review, 32(1), 236-256.
https://doi.org/10.5465/amr.2007.23464060
Koller, T., Goedhart, M., & Wessels, D. (2010). Valuation: Measuring and Managing the Value of Companies (5° ed.). John Wiley & Sons.
Koller, T., Dobbs, R., & Huyett, B. (2011). Value : The four Cornerstones of Corporate Finance. McKinsey & Company Inc.
Lee, S. H. ; Peng, M. W., & Barney, J. B. (2007). Bankruptcy law and entrepreneurship development: A real options perspective. Academy of Management Review, 32(1), 257-272. https://doi.org/10.5465/amr.2007.23464070
Lepak, D. P., Smith, K. G., & Taylor, M. S. (2007). Value creation and value capture : A multilevel Perspective. Academy of Management Review, 32(1), 180-194.
https://doi.org/10.5465/amr.2007.23464011
March, J. & Simon, H. (1958) Organizations. Wiley.
Matheson, D., & Matheson, J. (1998). The smart organization: Creating value through strategic R & D. Harvard Business School Press.
Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. The Academy of Management Review, 22(4), 853-886. https://doi.org/10.5465/amr.1997.9711022105
Mortensen, Mark, & Edmondson, Amy C. (2023). Rethink Your Employee Value Proposition. Harvard Business Review.
https://hbr.org/2023/01/rethink-your-employee-value-proposition
Neal, Larry, & Spetzler, C. (2015). An Organization-Wide Approach to Good Decision Making. Harvard Business Review, 27.
https://hbr.org/2015/05/an-organization-wide-approach-to-good-decision-making#:~:text=With%20an%20organization%2Dwide%20approach,the%20judgment%20of%20their%20superiors.
Oakley, Denis (2021) Value creation and value capture.
https://www.denis-oakley.com/value-creation-and-value-capture/
ONU- Global Compact (2004). Who Cares Wins. https://www.unepfi.org /fileadmin/events/2004/stocks/who_cares_wins_global_compact_2004.pdf
Porter, M. (1985). The competitive advantage: Creating and sustaining superior performance. Free Press.
Porter, M. (1990). The competitive advantage of Nations. Free Press.
Porter, M. (1996). What is strategy?. Harvard Business Review, 74, 61-78. https://www.uniba.it/it/docenti/somma-ernesto/whatisstrategy_porter_96.pdf
Post, J., Preston, L., & Sachs, S. (2002). Redefining the corporation: Stakeholder management and organizational wealth. CA: Stanford University Press.
Rappaport, A. (2006) La creación de Valor para el Accionista: una guía para inversores y directivos. Ediciones Deusto.
Reichheld, F. F., & Sasser, W. E. (1990). Zero defections: Quality comes to services. Harvard Business Review, 68(5), 105-111. https://hbr.org/1990/09/zero-defections-quality-comes-to-services
Salinas Ortiz, J. A. (2009). Análisis de decisiones estratégicas en entornos inciertos, cambiantes y complejos. Cengage Learning.
Salinas Ortiz, J. A (2009). La Toma de Decisiones en Entornos de Crisis. En G. Alarco (Ed.), Crisis: análisis y perspectivas de la crisis económica mundial desde el Perú (pp. 353-384). Norma.
Salinas Ortiz, J. A. (1994). Calidad Decisional: reingeniería del proceso de toma de decisiones estratégicas. Encuentro Semana de la Calidad 1994, Sociedad Nacional de Industrias.
Salinas Ortiz, J. A. (2002). Análisis de Rentabilidad de Planes de Salud de las Entidades Prestadoras de Salud. Reporte de un trabajo de consultoría hecho para la Superintendencia de Entidades Prestadoras de Salud.
https://cdn.www.gob.pe/uploads/document/file/389615/Estudio__An%C3%A1lisis_de_rentabilidad_de_planes_de_salud_de_las_entidades_prestadoras_de_salud20191016-26158-1hj4x8z.pdf?v=1571207281
Shoemaker, Paul J.H. (2002). Profiting from uncertainty, strategies for succeeding no matter what the future brings. The Free Press.
Sirmon, D. G., Hitt, M. A., & Ireland, R. D. (2007). Managing firm resources in dynamic envionments to create value: Looking inside the black box. Academy of Management Review, 48(1), 346-357. https://doi.org/10.5465/amr.2007.23466005
Stewart, G. III (1991). The Quest for Value, The EVA Management Guide. Harper Business.
Spetzler, C., Winter, H. & Meyer, J. (2016). Decision Quality, Value Creation from Better Business Decisions. Wiley. https://doi.org/10.1002/9781119176657
Strategic Decisions Group, SDG. (2002). Strategic Enterprise Risk Management, avoid the wrong risks. An SDG Executive eBriefing.
Woiceshyn, J. & Falkenberg, L. (2008). Value creation in Knowledge-based firms: aligning problem and resources. Academy of Mangement Perspective, 22(2), 85-99. https://doi.org/10.5465/amp.2008.32739761
Publicado
2023-08-11
Cómo citar
Salinas Ortiz, J. (2023). Inversión en recursos para crear valor: ¿Pero valor para quién?. Revista IECOS, 24(1), 6–30. https://doi.org/10.21754/iecos.v24i1.1720
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Artículos de Investigación
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Derechos de autor 2023 Revista de Investigaciones Económicas y Sociales - IECOS
Esta obra está bajo una licencia internacional Creative Commons Atribución 4.0.
