At a conceptual level, strategic management scholars are often less concerned with specific accounting and stock market performance indicators and more concerned with the idea of competitive advantage. And economic value creation is a critical factor to consider.

Economic value creation (EVC) is the difference between what a customer is willing to pay(WTP)for a product and the cost incurred to produce the product. Economic value creation may vary across firms. Firms that sell the same product may each incur a different cost of production. Further, consumers may be willing to pay one price when purchasing a good from one firm, but willing to pay another price when purchasing the good from the firm's competitor. This all implies that the economic value created will differ from firm to firm.

Therefore, a firm has a competitive advantage over a competitor if it has a larger economic value creation than that competitor.

Normally, the value equals the total perceived consumer benefits and also equals to consumer's maximum willingness to pay, which should equal to reserved price. Value minus the Firm's Cost equals the economic value created. And Value minus the Firm's profit.

Question: After reading the opinion above, what is your response? What may be some risks or drawbacks? Please be detailed in your opinion.