An informal term that includes all forms of value that determine the health and well-being of the firm in the long run. It expands the concept of value of the firm beyond economic value to include other forms of value such as employee value, customer value, supplier value, channel partner value, alliance partner value, managerial value, and societal value. In the context of agile development, it is what management is willing to pay for and a way to identify the value of “work” or a story.

Related links: Business Value