Co-creation of Value Proposition: Stakeholders Co-creating Value Propositions of Goods and Services

Vorbach, Stefan; Müller, Christiana; Poandl, Elisabeth Maria

doi:10.1007/978-3-319-97788-1_5

Cited by 6 publications

(9 citation statements)

References 16 publications

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“…Both customer interaction and business process values have been observed to be key facilitators of the co-creation of value for customers. Previous studies such as Vorbach, Müller, and Poandl (2019) as well as Quero and Ventura (2019) attest to the co-creation potential that arises from our observed dimensions of customer interaction values, i.e understanding clients, authenticity, and reliability. The focus on customer interaction values follows the service-dominant (S-D) logic which emphasizes that value is co-created by customers and is the outcome of the activities and interactions in which resources are integrated and utilized for mutual benefits (Skålén, et al, 2014).…”

Section: Discussionsupporting

confidence: 70%

“…The creation of unique value propositions is a key source of competitive advantage and central for successful business models (Osterwalder, Pigneur, Bernarda & Smith, 2014;Teece, 2010;Vorbach, Müller & Poandl, 2019). Osterwalder et al (2014) noted that effective value proposition design enables the business to have a better understanding of the value creation patterns, as well as giving the business an opportunity to leverage its internal Successful foreign-owned SMEs bring to the host nation the diversity of culture and knowledge needed for crosscultural learning and development (Radipere & Dhliwayo, 2014;Tengeh, 2013).…”

Section: Introductionmentioning

confidence: 99%

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A value proposition mix framework of successful foreign-owned small and medium enterprises in South Africa

Musara¹,

Nieuwenhuizen²

2021

JESI

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The paper presents the value propositions of successful foreign-owned SMEs in South Africa. The focus on successful foreignowned SMEs provides a stimulus for cross-cultural knowledge diffusion through internationalisation of entrepreneurial efforts by examining the currently under-studied value proposition construct within the SME sector. To achieve this aim, a multi-case empirical investigation, using the grounded theory approach, was conducted with a sample of forty-two successful foreign-owned SMEs in South Africa. The findings revealed that successful foreign-owned SMEs, in addition to commonly known value propositions (i.e product-based value propositions), have unique value propositions (customer interaction and business processes) that enable their businesses to succeed. A value propositions mix (VPM) framework for successful SMEs is presented, therefore, in this paper. The findings of this study are valuable in providing new insights into the VPM of successful foreign-owned SMEs to inform the broader development and sustainability of the SME sector operating within the African continent.

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Section: Discussionsupporting

confidence: 70%

Section: Introductionmentioning

confidence: 99%

A value proposition mix framework of successful foreign-owned small and medium enterprises in South Africa

Musara¹,

Nieuwenhuizen²

2021

JESI

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“…Co-creating value involves customers and other stakeholders in the innovation and continuous learning processes, being a means to increase the company's competitiveness [51], and to improve the social conditions of all stakeholders. By implementing these activities, companies expand their value chains making it easier for them to respond faster to market failures and find creative solutions [52]. Following this logic, the roles of producers and customers vary, as they connect and integrate by sharing their resources [53], creating value in a network of activities where other stakeholders such as employees, shareholders, citizens, and society also participate [54].…”

Section: Theoretical Framework 21 Creating Shared Valuementioning

confidence: 99%

“…The CSV is formulated as a new opportunity for companies to improve their productivity and increase their profits while promoting the social and environmental conditions in the communities where they participate [45]. Through value co-creation, companies can maintain a greater relational orientation with stakeholders [48], generating opportunities for innovation and continuous learning that will result in improvements in the social conditions of stakeholders [52]. However, it is a poorly tested and questioned concept due to its similarity to CSR and other previous concepts [9,11].…”

Section: Value Creation In An Entrepreneurial Ecosystemmentioning

confidence: 99%

Creating Shared Value: Exploration in an Entrepreneurial Ecosystem

Vela

Lizama

2022

Sustainability

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The effects of companies on society and the practices of Corporate Social Responsibility have been the source of interest for many research studies. Questions concerning the traditional model resulted in Porter and Kramer developing the concept of Creating Shared Value, an approach where companies consider the value of society and the environment in their business models, creating value for all stakeholders. We take the issue of shared value creation in an entrepreneurial ecosystem to determine how clustered companies understand and create shared value, identifying its antecedents and consequences. Using a single case study, we were able to identify that the entrepreneurial ecosystem becomes a favourable scenario for creating shared value, because participants benefit from resources and skills that allow them to grow their businesses, boost competitiveness and innovation and contribute to the economic, social, and environmental growth of their stakeholders.

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“…The process of actively listening to customers and co-creating value is especially valid in the textile sector, where there has been a significant increase in the production of low-cost clothing that mimics current luxury items, leading to significant volumes of waste every year. One argument in the literature points toward the need for collaboration between consumers and the industry in the design of what is perceived by consumers as an imperative in order to minimise waste, save resources, and introduce eco-innovations to protect the environment (Vorbach et al, 2019). This study proposes that co-creation challenges such as the lack of resources or technologies (Ghisetti et al, 2017) motivate companies in the textile sector to collaborate with their customers in order to seek and jointly implement solutions (Dearing, 2000).…”

Section: Introductionmentioning

confidence: 99%

Active listening to customers: eco-innovation through value co-creation in the textile industry

Martínez‐Martínez

Cegarra‐Navarro

García-Pérez

et al. 2022

JKM

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Purpose This study contributes to current efforts to design and implement sustainable innovation strategies in organisations from the textile industry. This study aims to examine how businesses can overcome the current challenges (e.g. lack of resources) of sustainable innovation by the incorporation of green knowledge of customers into their value co-creation strategies. Such strategies are based on actively listening to customers and addressing their expectations with regard to environmental sustainability, in particular in the face of the negative environmental impact of the fast-fashion industry. Design/methodology/approach The findings of this study are derived from the analysis of data collected from 208 small and medium enterprises (SMEs) in the Spanish textile sector. A partial least squares structural equation modeling analysis was conducted using version 3.3.3 of the SmartPLS software. Findings This paper contributes to the literature on environmental sustainability by informing SME eco-innovation through the active listening of their customers’ perceptions while implementing value co-creation strategies. The research has found that engaging with customers and actively listening and addressing their expectations can result in the creation of green knowledge that contributes to both incremental and radical eco-innovation in the textile sector. Practical implications This study found that when organisations from the sector lack eco-innovation capabilities, their existing and often their potential customer base is able to acquire new environmental knowledge and transfer it to the business through a process of value co-creation. The research also found that such green knowledge has the potential to lead to eco-innovation in the sector. In other words, the value co-creation process between the textile industry and its customers is a driver of the eco-innovations required to reduce the environmental impact of the sector, helping it address both its sustainability and its ethical challenges. Originality/value This study proposes that co-creation challenges such as the lack of resources, funding, qualified staff or technologies motivate companies in the textile sector to collaborate with their customers to seek joint solutions.

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Co-creation of Value Proposition: Stakeholders Co-creating Value Propositions of Goods and Services

Cited by 6 publications

References 16 publications

A value proposition mix framework of successful foreign-owned small and medium enterprises in South Africa

A value proposition mix framework of successful foreign-owned small and medium enterprises in South Africa

Creating Shared Value: Exploration in an Entrepreneurial Ecosystem

Active listening to customers: eco-innovation through value co-creation in the textile industry

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