Stakeholders and Value
The term stakeholders is used, because in the Enterprise Architects' approach, value is not only created for customers, but for all the stakeholders of the organization.
Although companies earn money from customers, in the Value Creation Approach, value is more than earning money, while there are more stakeholders than customers only.
Enterprise Architects distinguish very many types of stakeholders, like shareholders, employees, customers, but also suppliers and family members.
Each of these stakeholder types looks differently to the organization, so the creation of value for these different stakeholder types is also different.
The same goes for the different types of value. Costs, revenues, risks, and profit can off course be expressed as types of money, but quality, convenience, appreciation, etc. cannot.
In our Value Creation Approach, however, when a value type can be measured a Value Analyst can define Value Creation Rules and thus measure the creation of value in business processes.