Value Chain from Good to Great: Multiple-case Study of Estonian Companies

How companies advance in value creation hinges on their life-cycle stage and on their role in global value chains. Globalisation and advances in technology warrant new concepts for progress in firm value advancement. Synthesising the literature and a multiple case study of firms from different value chain levels gives rise to a new concept, the company value advancement model (CVAM). The model contains six stages that are triggered by value leaps in production: ‘price-competing subcontractor’ → ‘renowned supplier’ → ‘innovator’ → ‘market inventor’ → ‘global brand’ → ‘ecosystem leader’. The model describes the strategic priorities and investment needed to help companies reach higher levels of value creation.