Page 98 - Crossing Cultural Boundaries - Cees den Teuling

exchange a monetary compensation for the received value (Lepak, Smith & Taylor, 2007).
For the purpose of the current study, the SVC is defined as “the quotient of benefits/costs (alternatively: satisfaction of needs/use of resources) where value is not absolute, but relative and may be viewed differently by different parties in differing situations” (Laursen & Svejvig, 2016, p. 2). The core or basic concepts of SVC (Strategy, Project, Output, Result of Change, Benefit, Value and Value Creation) are sequentially related to each other. However, this is a highly simplified and idealised presentation. According to the authors, the relationships and connections between the basic “components” in management practice are much more compound and inversely linked and can be classified as the strategy, project, output, outcome/change, benefit, value and VC. SVC is tightly linked to strategic management, and strategy could be described as the art of VC (Norman & Ramirez, 1993). Implementation of strategy follows a multi-project approach e.g. by project, portfolio, and program management. “A project may contain a single project or a group of projects in the sense of a temporary organisation that empowers value creation” (Bakker, 2011, p. 494). Project management has an operational and temporary nature. It is implemented to optimise benefits and costs incurred in projects, to establish value and to ensure SVC for the receiving organisation (Quartermain, 2002). Output is VC, which means “the temporary production, development or improvement of a physical product, system, facility or process and monitored and controlled against specification (quality), cost and time” (Winter, Smith, Morris & Cicmil, 2006b, p. 644). In general, the output as a result of a trans-boundary KT process, is a subject to diverse ratings, as the origin of organisations is from a variety of cultural heritage (Esper, Ellinger, Stank, Flint & Moon 2010). Outcome is the change that accurse in the organisation as a result of using the project’s output (Office of Government Commerce, UK, 2009). Benefit is the enhancement resulting from an outcome/change, which is perceived as positive by one or more beneficiaries (Bradley, 2010). Value is the representational ratio between benefits and costs. However, it is relative and probably perceived and evaluated differently by involved beneficiaries (Morris, 2013). VC is highly relevant for practice and should be incorporated in the development and execution of the strategy, integrated into the benefits and cost approach and to ensure that the value as to referred, will cause benefit, whether for an individual, organisation or society (Laursen & Svejvig, 2016). As argued by Grönroos and Voima (2013, pp. 140-141) “The creation of value inside the recipient’s organisation is divided in spheres of VC. Depending on the sphere involved
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