Rethinking Business Value: Why Innovation Must Be Customer Outcome-Oriented

Аннотация

such a discussion stems from the radical transformation in how the axiological essence of business activity is perceived in the context of digital transformation. The traditional paradigm, which links the effectiveness of innovation to internal growth metrics, is steadily losing relevance as attention increasingly shifts toward customer outcomes as the ultimate criterion of sustainability and meaningfulness of innovation. The objective of this article is to argue for a shift in evaluating corporate innovation activity through the lens of customer-centric outcomes, rather than viewing it solely in terms of technological advancement or financial indicators. The literature review reveals methodological discrepancies in how the concepts of “value” and “innovation” are interpreted, as well as the lack of a unified conceptual framework that could integrate behavioral, institutional, and digital dimensions of value creation. The absence of coherence in existing approaches complicates the practical application of research findings in strategic management. The analysis concludes that innovations which do not result in perceptible changes for the customer—whether behavioral, functional, or emotional—cannot be considered a sustainable source of business value. The scholarly contribution of this work lies in the systematization of conceptual approaches to value, as well as in identifying axiological conflicts present in the literature. The materials presented are intended to be of use to professionals in strategic management, business model developers, researchers in behavioral economics, and analysts working on product value and customer journey design.