The race to implement co-creation of value with stakeholders: five approaches to competitive advantage

The race to implement co-creation of value with stakeholders: five approaches to competitive... Purpose – After leading more than thirty co-creation projects, and observing more than 200 others, the author can offer a view on why co-creation with stakeholders is becoming a cornerstone of the creative economy and suggest how the most popular approaches contribute to helping firms gain a competitive advantage through connections that enable continuous innovation. Design/methodology/approach – To tackle large, complex problems, co-creation, in its most generic form, requires adopting five processes that each represent a potential source of competitive advantage; an approach can utilize each process from very little to a lot. A co-creation strategy will be most powerful when all five processes are used in combination. Findings – Leading theorists are predicting that in the foreseeable future the co-creation model will become a primary source of the firm's competitive advantage. Practical implications – Opening up the traditional value chain to stakeholders could precipitate a race to co-creation, as every firm tries to connect each function and process to the relevant ecosystem and attract the best external players as partners. Originality/value – Leading theorists anticipate that in the foreseeable future the co-creation model will become a primary source of the firm's competitive advantage. The article lays out five approaches. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Strategy & Leadership Emerald Publishing

The race to implement co-creation of value with stakeholders: five approaches to competitive advantage

Strategy & Leadership, Volume 42 (1): 7 – Jan 14, 2014

Loading next page...
 
/lp/emerald-publishing/the-race-to-implement-co-creation-of-value-with-stakeholders-five-fx0kJFXYNS
Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1087-8572
DOI
10.1108/SL-09-2013-0071
Publisher site
See Article on Publisher Site

Abstract

Purpose – After leading more than thirty co-creation projects, and observing more than 200 others, the author can offer a view on why co-creation with stakeholders is becoming a cornerstone of the creative economy and suggest how the most popular approaches contribute to helping firms gain a competitive advantage through connections that enable continuous innovation. Design/methodology/approach – To tackle large, complex problems, co-creation, in its most generic form, requires adopting five processes that each represent a potential source of competitive advantage; an approach can utilize each process from very little to a lot. A co-creation strategy will be most powerful when all five processes are used in combination. Findings – Leading theorists are predicting that in the foreseeable future the co-creation model will become a primary source of the firm's competitive advantage. Practical implications – Opening up the traditional value chain to stakeholders could precipitate a race to co-creation, as every firm tries to connect each function and process to the relevant ecosystem and attract the best external players as partners. Originality/value – Leading theorists anticipate that in the foreseeable future the co-creation model will become a primary source of the firm's competitive advantage. The article lays out five approaches.

Journal

Strategy & LeadershipEmerald Publishing

Published: Jan 14, 2014

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off