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The Evolution of the Production Function: Transition to the “Value Creation Cube”

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Driving the Economy through Innovation and Entrepreneurship

Abstract

This chapter is theoretical in nature and follows the evolution of production in the context of developed nations. We begin with the physical nature of industrial economies of the past, move to the service- and knowledge-based economies of the present, and incorporate the emerging creative industries where human creativity forms the basis on which value is created. Paralleled to this is the contributions of academic scholars whose theories and models have provided understanding and meaning at each of these evolutionary stages. The chapter culminates with our contribution which recombines aspects of each of the models to form the Value Creation Cube framework. The Value Creation Cube framework represents the different perspectives of production, including the human elements of customers, suppliers, shareholders, employees and managers, whilst also provisioning for the technical components that enable the efficient communication and integration of each of the sub-components.

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Authors and Affiliations

  1. Management Discipline Group, UTS Business School, University of Technology Sydney, Sydney, Australia

    Moira Scerri & Renu Agarwal

Authors
  1. Moira Scerri
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  2. Renu Agarwal
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Corresponding author

Correspondence to Moira Scerri .

Editor information

Editors and Affiliations

  1. , Department of Management Studies, Indian Institute of Science, Bangalore, 560 012, Karnataka, India

    Chiranjit Mukhopadhyay

  2. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Mathikere, Bangalore, 560012, Karnataka, India

    K B Akhilesh

  3. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Near-Centre For Neroscience,Mathikere, Bangalore, 560012, Karnataka, India

    R. Srinivasan

  4. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Near-Centre For Neroscience,Mathikere, Bangalore, 560012, Karnataka, India

    Anjula Gurtoo

  5. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Mathikere,, Bangalore, 560012, Karnataka, India

    Parthasarathy Ramachandran

  6. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Mathikere, Bangalore, 560012, Karnataka, India

    Parameshwar P Iyer

  7. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Mathikere, Bangalore, 560012, Karnataka, India

    M Mathirajan

  8. , Department of Management Studies, Indian Institute of Science, Gulmohar Marg, Mathikere, Bangalore, 560012, Karnataka, India

    M H Bala Subrahmanya

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Scerri, M., Agarwal, R. (2013). The Evolution of the Production Function: Transition to the “Value Creation Cube”. In: Mukhopadhyay, C., et al. Driving the Economy through Innovation and Entrepreneurship. Springer, India. https://doi.org/10.1007/978-81-322-0746-7_46

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