Certainly “value networks” are an emerging fashion and paradigm shift in visualising and analysing how organisations really work.
However, the diagram depicted does not conform to the value network standard that is now shaping up in the Information Object Model.
Whilst the ovals indicate groups of people, the lines should show deliverables, either tangible or intangible in order to derive the most insights from a value network approach at this time in its development.
This modified way of representing a value network will then tie in to the definition quoted in Wikipedia.