Contemporary the concept of global value system extensively elaborated by scientist and applied by practices in the fields of management, economics and politics. The aim of this article is to provide the theoretical background and evolution of the global value system methodological approach from the global strategy management perspective. The technologies are considered as the main source of added value. Therefore the main scholars of technologies strategic management are provided in the article, though in the global value system concept it is implied that the source of added value originates from the allocation of added value activities across borders. Recently scholars analyse various sources for the added value upgrading, though critics of global value chain concept emphasise that besides economic added value, social issues should be considered.