Recognition of Value: A Critical Step in the Value Creation Process
Abstract This paper has demonstrated that the intentional Value Creation process presented by Lepak, Taylor & Smith (2007) can be enhanced by adding connections between the Value Creation Process of Lepak, Taylor & Smith (2007) and the Creativity Process of Amabile et al (1996) within a corporation, and that those two internal processes also have a relationship with the external entrepreneurial processes modeled by Krueger-Brazeal (1994) and Bhave (1994). Furthermore, all of these constructs can be related to the massive amount of dormant technology available in corporations, R&D labs, government research centers, universities, and foundations/nonprofit research centers. The relationship between each model assist in capturing the essence of Shane and Venkataraman (2000) whose article laid out a design for Entrepreneurship as a unique field of research. When the aforementioned models are included in one holistic model, the internal and external entrepreneurial processes are shown to have the same or nearly identical features.