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Co-creation offers firms and their network of actors significant opportunities for innovation, as each actor offers access to new resources through a process of resource integration. However, despite the significant advantages that co-creation can offer, there is surprisingly little research providing a strategic approach for identifying the most advantageous co-creation opportunities, especially when many possible options are available. Recently, scholars have called for research that develops tools and processes related to co-creation. This study addresses these priorities, making two contributions. First, in contrast to previous work considering co-creation more generally, or focusing on one specific form only, e.g. co-production, this paper offers a detailed and granular approach to co-creation design. A co-creation design framework is developed, which incorporates multiple design dimensions and categories that can reveal new co-creation opportunities. Second, the research extends the application of a design approach, specifically within the context of co-creative activities. The authors use field-based research with senior executives to develop a framework that includes key co-creation design elements. A morphological approach is used to explore how a lead firm can identify attractive co-creation opportunities. An innovation solution in one organization provides an illustration of how the co-creation design framework can be applied.

Applying grounded theory, we comprehensively categorize capabilities needed for market-shaping and synthesize them into a conceptual framework that describes the process and its outcomes. We establish that in order to improve value creation in a market, market-shapers must consider a larger system of relevant stakeholders, recognize the institutional arrangements governing their behaviors, and foster new resource linkages within and across stakeholders. Based on our analysis, we identify eight triggering capabilities, which generate new intra-and inter-stakeholder resource linkages by directly influencing various characteristics of the market, and four facilitating capabilities, which enable market-shaping by discovering the value potential of new resource linkages and augment the impact of the triggering capabilities by mobilizing relevant resources. We show that triggering capabilities are context-specific, whereas facilitating capabilities are generic. We conclude that there are performance outcomes of market-shaping not only for the shaping firm, but also for other stakeholders, and at overall market level.

Purpose -A common thread in the modern marketing theories, such as service-dominant logic and viable systems approach, is the notion value co-creation: the locus of value creation is no longer perceived to reside within firm boundaries but value is considered to be co-created among various actors within the networked market. The evolution of value creation, from value creation by the manufacturing firm to value co-creation in a network, necessitates a corresponding change in the concepts used to depict value creation. The purpose of this paper is to investigate business models as a broader conceptualization of value co-creation that captures this change. Design/methodology/approach -The topic is approached by a combination of literature review and interactive research, including interactions with managers from 12 international companies. Findings -Business models are defined as configurations of 12 interrelated elements, covering market, offering, operational, and management viewpoints. The effectiveness of a business model in value co-creation is defined by the internal configurational fit between all business model elements and the external configurational fit between provider's and customers' business models.Research limitations/implications -The paper contributes to the understanding on value co-creation by providing a conceptualization of the business model construct depicting value co-creation in a network. Of the 12 companies providing the empirical data, ten are within business-to-business which limits the applicability to business in general. Further, the paper indicates that within a single firm multiple parallel business models are in use. Practical implications -A firm can radically improve value co-creation by designing business models that have a high degree of internal and external configurational fit. Originality/value -The originality and value of this paper lies in its analysis and discussion of co-creation of value within a business model.

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