REFERENCE

Glossary

Origin and purpose

This glossary explains key terms used in the value(x)™ approach. It’s designed to help make concepts easier to understand and apply in common situations. Some definitions are adapted from external sources and written in plain language to support quick, practical use.

You’ll find incoming links to this glossary throughout the value(x)™ hub, so it’s easy to come back whenever you need a quick reference. Some concepts are explained in more depth on a reference page of their own, and an outgoing link is provided to that content.

Terms and definitions

instrumental value

A value element that is valuable because it contributes to the creation of other value rather than being valuable just by itself.

A value can also be instrumental in that it is the means or feeds into another value, rather than being the core value in a situation by itself.

[Milton Rokeach (1918-1988) developed the Rokeach Value Survey, and in this framework, he specified 18 instrumental values that represent the “desirable modes of conduct”, the means by which an individual hopes to achieve their terminal values (of which he specified another list of 18).]

terminal value

A value element valued for its own sake and not as a means to a further valuable outcome.

A value can also be terminal in that by itself it is the core value in a situation and not the means to another guiding or controlling value.

[Milton Rokeach (1918-1988) developed the Rokeach Value Survey, and in this framework, he specified 18 terminal values that represent the “desirable end-states of existence”, the end for which an individual strives (of which he specified another list of 18).]

value

Value is a benefit, result, or outcome that arises in a particular situation. It can be tangible or intangible. Its significance can change depending on the context, even for the same person. Value (plural: value elements) describes what becomes useful, meaningful, or worthwhile through activity and interaction. It represents what is actually experienced, produced, or gained in practice. EXPERTISE, INSIGHTS, CREDIBILITY, MONEY, CHALLENGES, GROWTH, FLEXIBLE ARRANGEMENTS, FUN MOMENTS, TIME and ENERGY are examples of value elements.

values

Values are beliefs or principles that people hold about what is right, important or desirable for how they ‘ought to’ behave and for how they believe others should behave. They develop from a young age, and influenced by family, community and cultural context and are reasonably stable across a life-time. They help guide judgement, social priorities, and behaviour. Concepts such as Kindness, Generosity, Integrity, Simplicity, Tolerance, Excellence and Ethical are commonly described as values.

See also: value, instrumental value, terminal value

value-based decision moments

Decision moments are times when someone chooses what to contribute, claim, or create. These choices can happen during changes, challenges or opportunities. Noticing these moments helps a person act with more clarity about what matters.

value chain

A group of sequenced activities where value is contributed and created across time. Each part adds something that helps build or deliver value.

Value chains are often used to understand how efforts connect in work, services or projects.

The original use of a value chain was created by Michael Porter to break a business down into the “strategically relevant activities to understand the behaviour of costs and the existing and potential sources of differentiation”. With this analytical understanding a business can strategically plan, optimise it’s activities and position itself to create competitive advantage. A value chain is different from a value stream in that it focuses on the organisation as a whole, and asks the question ‘How do we compete?’
Source: The Business Architecture, Value Streams and Value Chains | BPMInstitute.org

value claim

The action of claiming value from another, to which you are entitled. Part of the grammar used with a vocabulary of value elements.

value contribution

The action of contributing value to another, from value elements that are within your control to offer. Part of the grammar used with a vocabulary of value elements.

value creation

The action of creating new value from the things that have been contributed or claimed. Part of the grammar used with a vocabulary of value elements. Can be extended to value co-creation, where the creation of value is done by multiple parties working in agreement.

value element

A base form of value that can be contributed, claimed or created in a situation. There are many forms of value. They might be physical (like tools or money) or intangible (like support, trust, or recognition). They provide a vocabulary to help identify what is valuable and translate that into something specific and meaningful.
See also: value, value exchange, value exchange ledger, value flow map

value exchange

Value exchange is what forms of value a single person is contributing, claiming or creating in a particular context. It doesn’t need to involve another person. Value exchange can happen through personal choices and actions. It can be visualised with a Value Exchange Ledger.
See also: value exchange ledger, value element, value-based decision moments

value exchange ledger™

A way to visualise what value is being contributed, claimed, or created by one person in a specific situation. It helps see what is offered in exchange for what is sought. The ledger is used to make sense of what matters, not to keep score. It can support reflection, choices or conversations — especially when things feel unclear or out of balance. For a deeper dive see value exchange ledger concept.

value flow map

A way to visualise how value elements can exist in relational flows with each other. It shows where value is contributed or created — not just in one spot, but across a bigger picture. It helps people see patterns or connections that might not be obvious. This is a simple way to see what is instrumental value and what is terminal value.
See also: value element, value exchange

value proposition

A way of stating what a form of value that someone might claim or have created as the result of the value someone contributed. It is an exchange of value between two different entities (whereas a value exchange ledger shows an exchange of value for a single person). The term is often used to describe proposed value in work, business or services — like a promise or offer. A value proposition articulates expected value, not necessarily what’s already happening.

value stream

A way to represent the “end-to-end collection of activities that creates a result for a customer” … the goal is “to satisfy or delight the customer”.
See also: value chain

A value stream focuses on the flow of materials and information to deliver a single product or service line. With this analytical understanding a business can operationally identify and address areas for achieving optimal flow. It asks the question, ‘how do we effectively deliver value to a customer?’

Source: The Business Architecture, Value Streams and Value Chains | BPMInstitute.org

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