Value Creation Report | April 8
2013 | Course : NBCMI 2010-2011 | |

Table of Content

1 Introduction 3 2. Research Problem 3 3. Conceptual Model 4 4 Research Question 5 5 Theoretical Framework 7 6 Methodology 8 7 First Findings 8 8 Conclusion 9 Bibliography ..11 Appendix A: Value Map………………………………………………………………………………………………………………..12 Appendix B: Emotion Map……………………………………………………………………………………………………………13

1 Introduction

The following document is concerned with the creation of value, more precisely the creation of value by the utilization of music. Value is a widespread term and in the business world you will hear the words “value added” or “value creation” thrown around. Everyone tells you they can “add value” or that they want to “create value”. But what is value? How is value created? In the following some of the definitions for the term “value” are mentioned. First of all, the different values are to mention such as personal values, which are the beliefs, principles or ideas important to you in your life- often things you are for or against, what you believe in and what you are willing to support and stand up for. (wire.wisc.edu). Moreover, value in economic terms can be, according to many business dictionaries, explained as the performance of action that increases the worth of goods and services or even a business. According to Kotler, Armstrong &Wong, 2010 value is created in order to satisfy the customers´ needs and wants. Irrespective of the different definitions of personal and economic values it is important to keep in mind that value can be interpreted differently by every individual, interest group or business and it remains a term in many contexts.
Starting the research assignment every student wrote down everything they relate to their personal core-values and everything he or she connects with emotions.