TY - JOUR
T1 - Trade-offs in the value capture of architectural firms
T2 - the significance of professional value
AU - Bos-de Vos, Marina
AU - Wamelink, J. W F Hans
AU - Volker, Leentje
PY - 2016
Y1 - 2016
N2 - Architectural firms often have difficulty generating profit from their services as they pursue not only commercial but also professional goals. These goals frequently conflict and have to be balanced during the process of value creation and value capture. So far, literature has focused on the interaction between the perceived use value for the customer and the fee that is paid to the firm. To better understand how professional service firms realize their organizational targets, professional value needs to be included. In this study, in-depth interviews with the architects and clients of nine housing projects provide insight into the content and process of value capture by architectural firms. The data reveal strategies by which architects tried to maximize the capture of professional value at the expense of profit or sometimes even their clients’ perceived use value. These trade-offs in value capture confirm the importance of professional value when studying value creation and capture in a professional service context. This paper provides an understanding of how architectural firms struggle to balance competing goals and highlights the importance of well-managed value capture.
AB - Architectural firms often have difficulty generating profit from their services as they pursue not only commercial but also professional goals. These goals frequently conflict and have to be balanced during the process of value creation and value capture. So far, literature has focused on the interaction between the perceived use value for the customer and the fee that is paid to the firm. To better understand how professional service firms realize their organizational targets, professional value needs to be included. In this study, in-depth interviews with the architects and clients of nine housing projects provide insight into the content and process of value capture by architectural firms. The data reveal strategies by which architects tried to maximize the capture of professional value at the expense of profit or sometimes even their clients’ perceived use value. These trade-offs in value capture confirm the importance of professional value when studying value creation and capture in a professional service context. This paper provides an understanding of how architectural firms struggle to balance competing goals and highlights the importance of well-managed value capture.
KW - Architectural management
KW - collaboration
KW - professional service firms
KW - value capture
KW - value creation
UR - http://resolver.tudelft.nl/uuid:22bf7bc0-bb67-4fce-97cd-a7ee29b2f5c9
UR - http://www.scopus.com/inward/record.url?scp=84974577304&partnerID=8YFLogxK
U2 - 10.1080/01446193.2016.1177192
DO - 10.1080/01446193.2016.1177192
M3 - Article
AN - SCOPUS:84974577304
VL - 34
SP - 21
EP - 34
JO - Construction Management and Economics
JF - Construction Management and Economics
SN - 0144-6193
IS - 1
ER -