Kate Rayworth (now at Oxford) developed this very elegant idea when she was working with Oxfam.
This framing shows that: (1) many resources and structures are used to deliver a decent quality of life for people; and shows (2) the many ways the depletion and degradation of resources in natural systems are essential for the system. This articulation of the system does not explicitly include any economic drivers that are a foundational element of modern decision making and allocation of priorities.
TVM is using many of these same core concepts. For TVM the main issue to be addressed is that decisions about most economic activity is about profit performance with the social and environmental impacts not a big part of the main decision making processes.
TVM also attempts to address management effectiveness and decision making by enabling the presentation of progress (trends) and performance.