Abstract
In Chap. 4, we introduced a new way of looking at information technology (IT) investments—the Agricultural Model. We strongly believe that this model is a more realistic representation of the world in which IT is being applied to the challenges of any organization. In this chapter, we will bring together the Agricultural Model with the value cycle, introduced in Chap. 2, to show how IT investments are turned into real business value through the value realization cycle (VRC).
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Notes
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The model is draws on Soh, C. and Markus, M. L. (1995) How IT Creates Business Value: a Process Theory Synthesis. In Ariav, G. et al. (eds.) Proceedings of the 16th International Conference on Information Systems, December 10–13, Amsterdam, Netherlands; and Marshall, P., Mckay, J., and Prananto, A. 2005 Business Value Creation from IT Investments: Towards a Process Theory of IT Governance, Australasian Journal of Information Systems, 12(2), 192–206. The Value Realization Cycle (VRC) specifically puts the customer at the centre of the cycle emphasizing the pivotal roles customers play in the ultimate determination of value.
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Grant, G.G., Collins, R. (2016). The Value Realization Cycle. In: The Value Imperative. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-59040-4_5
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DOI: https://doi.org/10.1057/978-1-137-59040-4_5
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Publisher Name: Palgrave Macmillan, New York
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