MODERN APPROACHES TO THE VALUE ADDED MODELLING: STAKEHOLDER’S VISION

Abstract

In today's context, value is interpreted as tangible and intangible value that is the object of exchange between participants in modern business ecosystems. Market competition encourages continuous improvement of efficiency and the comparison of competing values. Analyzing the economic efficiency of an enterprise involves assessing the added value created for and in cooperation with stakeholders. Retrospective studies and analysis of significant scientific works and concepts of added value and value show that the Stakeholder Value Added (STVA) model does not correspond to the modern principles of interaction between market participants. The researchers of the stakeholder value added model have not considered the division of the company's beneficiaries into direct and indirect ones, i.e., those who receive financial and non-financial benefits, and thus there is no algorithm for estimating the value created separately for each group of stakeholders. The distinction of modern approaches to value added assessment for each of the stakeholder groups is due to the fact that it is difficult to ensure the sustainability of the transfer and acceptance of value in the sense of value by indirect stakeholders, which leads to the loss of part of this value, and thus complicates the process of its assessment and subsequent comparison with the values offered by competitors. The application of an interdisciplinary approach makes it possible to assess inconsistencies and develop modern approaches to modeling added value as a value for stakeholders, which will serve as a basis for improving the methodology of economic analysis and assessing the efficiency of the enterprise. This model will provide managers with the tools to identify the process of value creation, transfer and acceptance in the sense of value. These processes are difficult to reproduce and cannot be purchased, but they are the basis for the formation of sustainable competitive advantages that are designed to ensure the long-term development of the enterprise.