Various authors have brought forth the idea that the increase in context turbulence and the relentless change in today’s economic and competitive environments have rendered it essential for an effective strategy to combine both value appropriation and value creation (Porter, 1996; Moran & Ghoshal, 1999; Venkataraman & Sarasvathy, 2001; Hitt et al., 2001). However, the methodological basis and the assumptions that characterize contributions concerning value appropriation, on the one hand, and value creation, on the other, are notably different and in many respects opposite to one another. These profound methodological differences hinder the possibility of a combined consideration of value appropriation and value creation issues within a unitary interpretative framework (Schultze, 1994). By reinterpreting more conventional strategy studies in the light of the neoAustrian process view, this article builds a framework which is able to consider and render mutually compatible both value appropriation and value creation within the unitary process of firm development. In addition, the use of the neoAustrian approach as an interpretative lense enables an evolution of the resource-based theory that consents it, not only to grasp the mechanisms behind value appropriation, but also to suggest new ways of viewing post-industrial firm behavior that help to interpret its dynamic and proactive role in the value creation process.