The value space: how firms facilitate value creation

2016 ◽  
Vol 22 (4) ◽  
pp. 736-762 ◽  
Author(s):  
Martti Lindman ◽  
Kyösti Pennanen ◽  
Jens Rothenstein ◽  
Barbara Scozzi ◽  
Zsuzsanna Vincze
Keyword(s):  
Value Creation ◽  
Process Management ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Multiple Case ◽  
Different Dimensions ◽  
Value Creation Process

Purpose – The purpose of this paper is to investigate the firm’s role in the value creation process. In particular, after categorizing the activities that firms carry out to facilitate the creation of value, the “value space,” an actionable framework within which different dimensions of value creation are integrated, is developed and discussed. Design/methodology/approach – The framework is built up on process theory, an in-depth review of the literature and a multiple case study carried out on 65 European firms in the furniture industry. Findings – The value space is both a practical and theoretically based framework which contributes to the development of a more holistic and “actionable” view on the role of firm in the value creation process; also it provides managers with a tool to support the analysis, management and innovation of the value creation process. Originality/value – The systematic categorization of firms’ activities and their subsequent integration into a value creation framework are a missing piece in terms of understanding the value creation process carried out by firms. Also, by facilitating the analysis and innovation of the value creation process, the framework can be used to support both exploitative and explorative business process management.

Is property management viewed as a value-added service?

2019 ◽  
Vol 37 (2) ◽  
pp. 262-274 ◽  
Author(s):  
Dustin C. Read ◽  
Andrew Carswell
Keyword(s):  
Real Estate ◽  
Value Creation ◽  
Value Added ◽  
Professional Service ◽  
Property Management ◽  
Individual Property ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Value Creation Process

PurposeThe purpose of this paper is to examine the perspectives of real estate executives to assess the extent to which property management is viewed as a commodity or as a value-added professional service contributing positively to investment performance and property value maximization.Design/methodology/approachThe qualitative analysis draws on the result of 93 semi-structured interviews conducted with executives employed by some of the largest real estate investment management and service firms across the USA.FindingsThe findings suggest that significant perceptual cleavages exist in the real estate industry, with some executives believing property managers are incredibly important to the value creation process and others believing they play a much more modest role.Practical implicationsThe results highlight the need for the property management industry as whole to continue its efforts to gain recognition as a value-added professional service and for individual property management companies to actively take steps to differentiate themselves from competitors if they hope to avoid commodification and fee compression.Originality/valueThe study is the first to the authors’ knowledge to examine real estate executives’ perspectives about the roles property managers play in the value creation process, as well as their views about whether property managers have the skills and autonomy required to make value accretive decisions.

scholarly journals Internal market orientation as a value creation mechanism

2019 ◽  
Vol 33 (2) ◽  
pp. 233-244 ◽  
Author(s):  
Achilleas Boukis
Keyword(s):  
Market Orientation ◽  
Value Creation ◽  
Internal Market ◽  
Theory And Practice ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Conceptual Paper ◽  
Internal Market Orientation ◽  
Value Creation Process

PurposeThis paper aims to re-examine the nature, aim and scope of internal market orientation (IMO) and introduce it as a value creation mechanism for the firm’s internal market. A service-dominant logic (SDL)-based perspective of the IMO notion is advanced, and the key steps and phases for value creation in the internal market are outlined.Design/methodology/approachThis conceptual paper bridges the IM discourse with the SDL literature, and the latter’s implications for internal marketing theory and practice are discussed.FindingsDrawing on the premises of the SDL, IMO re-surfaces as an interconnected operant resource that can be enacted through performing three sets of activities central in the value creation process for internal stakeholders (i.e. value-identifying, value-generating and value-enhancing activities). These groups of relevant value-enabling activities required for IMO enactment are extensively discussed and their role in the value creation process is scrutinized.Originality/valueThis conceptual paper aspires to provide a managerially relevant understanding of value creation in the firm’s internal market. An SDL-driven understanding of IMO is advanced setting it as a value creation mechanism appealing to a wider range of organizations.

scholarly journals Entrepreneurial value creation: conceptualizing an exchange-based view of entrepreneurship

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michele Pinelli ◽  
Christian Lechner ◽  
Sascha Kraus ◽  
Eric Liguori
Keyword(s):  
Value Creation ◽  
Design Methodology ◽  
Opportunity Recognition ◽  
Exchange Relationships ◽  
Content Type ◽  
Creation Process ◽  
Marketing Literature ◽  
Value Creation Process

PurposeThis paper proposes an Exchange-Based View of the value creation process. The Borrowing from marketing literature, the EBV advances that entrepreneurs and stakeholders are tied by exchange relationships, through which they co-create value by reciprocally making and realizing promises of value.Design/methodology/approachPropositions are developed and offered to advance the role of exchange in the entrepreneurial value creation process.FindingsThe authors conceptualize the enterprise as a system of exchange relationships between entrepreneurs and their stakeholders, thus proposing an exchange-based view of entrepreneurship.Originality/valueSuch an account of the role of entrepreneurs and of their relationship with the stakeholders has meaningful implications for our understanding of the entrepreneurial tasks of opportunity recognition and exploitation.

scholarly journals The role of innovation intermediary organisations in forming value creating meetings: the agri-food firm perspective

2021 ◽  
pp. 1-12
Author(s):  
Lisa Blix Germundsson ◽  
Per Frankelius ◽  
Charlotte Norrman
Keyword(s):  
Value Creation ◽  
Food Sector ◽  
Policy Makers ◽  
Creation Process ◽  
A Value ◽  
Innovation Intermediaries ◽  
Value Creation Process ◽  
Practical Implications ◽  
Intermediary Organisations

The aim of this study is to explore the concept of value creating meetings that connect agri-food firms with other crucial actors with whom they can collaborate or co-innovate, and related to this, examine the role of innovation intermediary organisations in the forming of such value creating meetings. The research design involves three case studies of intermediary organisations, within the agri-food sector in Sweden, each with an adherent case of a value creating meeting. The method comprises data collected through documents, interviews and insider accounts. The findings include the notion that three factors – problem, professionals and platform – are important to combine in order to facilitate value creation. We also show that intermediaries play an important role in the value creation process and that this process could be summarised into four steps: problem recognition, contact creation, dialogue facilitation and value creation. We elaborate on the role of innovation intermediaries, give examples of how value creating meetings could be arranged and what such meetings can lead to in case of outcome. Practical implications for policy makers and agri-food business firms include that intermediary organisations can play an important bridging role in a complex and fragmented context, offering contacts, networks and value creating meetings for targeted actors. Intermediary organisations need to focus on forming value creating meetings, work actively across sectoral boundaries, and allocate adequate resources for mediating efforts.

scholarly journals Knowledge in Value Creation Process for Increasing Competitive Advantage

2013 ◽  
Vol 1 (3) ◽  
pp. 35-47
Author(s):  
Anna Závodská ◽  
Veronika Šramová ◽  
Anne-Maria Aho
Keyword(s):  
Competitive Advantage ◽  
Value Creation ◽  
Value Innovation ◽  
Creation Process ◽  
Software Product ◽  
Different Types ◽  
The Individual ◽  
Value Creation Process

The aim of this paper is to compare companies by using value creation model and to determine knowledge in these processes. The framework for the value creation process shows problems of case companies in different phases of this process. Knowledge is compared in each of the individual phases of the process and its role in different types of companies. There is identified role of knowledge for increasing competitive advantage. The methodology involves case study from which data are derived and analyzed. The analysis shows that the framework for the value creation process can be used as an analytical tool for value overview in different phases and there is a need for different approaches to improve business and create new value for customers. Based on the analyzed problems, proposed recommendations for improvement are made. These recommendations are based on providing value innovation for customers (end users of software product). Value innovation of software product is considered as crucial for improvement of the companies in machinery industry. Company A has created new value through remote service. This remote service provides several advantages. Customers can prevent problems in machines by implementing software product which is still analyzing and evaluating data from machines. Company B and C were not able to create major value innovation for several years.

Together we create value: a study of a crowdsourcing community

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Telin Chung ◽  
Kyuree Kim ◽  
Eonyou Shin
Keyword(s):  
Value Creation ◽  
Network Structures ◽  
Community Members ◽  
Content Type ◽  
Creation Process ◽  
Unique Manner ◽  
Collective Creation ◽  
Value Creation Process ◽  
Method Approach

PurposeThe present study aimed to examine the value creation process in an online forum community of a crowdsourcing company by analyzing members' interactions and network structures.Design/methodology/approachA mixed-method approach was adopted. First, a participation-observation netnographic approach was employed to identify the interactions that lead to the collective creation of three types of value: social, intellectual, and cultural. Second, using social network analysis, the collective value creation process was examined through the network structures, and the key actors and their roles in value creation were identified.Findingsfindings presented that members collectively create value in a unique manner for enhancing product designs in a crowdsourcing community. Three types of value coexisted and were often created inter-dependently. The interactions among the members were not dense yet were fairly knitted without any significant core-periphery structures, indicating a less restrained flow of value. The findings of the study identified that most of the bridging members in the network were likely to have diverse social and intellectual resources.Originality/valueThe present study was one of the first to examine the collective value creation process through a network perspective. In particular, this study offered a richer understanding of the unique collective value creation process in a crowdsourcing community and the role of bridging actors in the network. Implications for crowdsourcing companies are provided to sustain a continuous flow of quality contributions from the forum community members.

Executives’ Decision Processes at the Front End of Major Projects: The Role of Context and Experience in Value Creation

2020 ◽  
pp. 875697282097722
Author(s):  
Denise Chenger ◽  
Jaana Woiceshyn
Keyword(s):  
Value Creation ◽  
Oil And Gas ◽  
Decision Processes ◽  
Strategic Decision ◽  
Decision Context ◽  
Front End ◽  
Risk Approach ◽  
Multiple Case

The front end of projects is strategically important; yet, how project concepts are identified, evaluated, and selected at the pre-project stage is poorly understood. This article reports on an inductive multiple-case study of how executives made such decisions in major upstream oil and gas projects. The findings show that in such a high-risk context, often an experienced executive makes these decisions alone and he creates value by facilitating growth. We identified three value-creating decision processes that varied by the executives’ risk approach and decision context. These processes depart from the formal project management prescriptions and the strategic decision-making literature.

Value creation through expanding the online distribution channel

2020 ◽  
Vol 120 (4) ◽  
pp. 714-729
Author(s):  
Frank Wiengarten ◽  
Hugo K.S. Lam ◽  
Di Fan
Keyword(s):  
Supply Chain ◽  
Stock Market ◽  
Value Creation ◽  
Distribution Channel ◽  
Chain Process ◽  
Market Reactions ◽  
Content Type ◽  
Creation Process ◽  
Stock Market Reactions ◽  
Value Creation Process

PurposeCurrent literature provides limited insights into the supply chain contexts within which e-commerce can create higher value for firms. To address this literature gap, this research explores the value potential, and thus value creation process, of e-commerce initiatives for supply chain distribution channel expansions.Design/methodology/approachUsing secondary data collected from multiple sources, this research conducted an event study to examine the stock market reactions to the announcements of e-commerce initiatives of Chinese firms.FindingsThe results indicate that the e-commerce initiatives increase average firm value by CNY 295.29 million in a three-day window around the initiative's announcement date. Moreover, we find that such stock market reactions are more positive for firms with poor operating performance, and more negative when firms deploy initiatives on their own (rather than third-party) platforms. Further, companies that integrate or complement their online sales with an offline sales channel experience more positive stock market reactions.Originality/valueThis study provides new insights into the value creation process of e-commerce from an operation and supply chain process perspective.

Cross-cultural influences on e-value creation in supply chains

2014 ◽  
Vol 19 (2) ◽  
pp. 187-199 ◽  
Author(s):  
Joshua M. Davis ◽  
Carlo Mora-Monge ◽  
Gioconda Quesada ◽  
Marvin Gonzalez
Keyword(s):  
Supply Chain ◽  
Cultural Differences ◽  
Value Creation ◽  
Cross Cultural ◽  
Business Systems ◽  
National Cultures ◽  
Content Type ◽  
Creation Process ◽  
Cross Cultural Differences ◽  
Value Creation Process

Purpose – This paper seeks to report the results of an empirical study examining the influence of cross-cultural differences on the value creation process from e-business systems in the supply chain. Design/methodology/approach – A questionnaire was sent out to senior managers in companies operating in two culturally distinct national cultures. The effects of cross-cultural differences were examined by testing for between-group differences in the structural model using the multi-group partial least squares (PLS) statistical approach. Findings – Consistent with the resource-based view (RBV), contingency “fit” theory, and prior research, this study demonstrates that the value creation process from e-business systems is significantly enhanced in companies operating in national cultures that emphasize cooperation and interdependence, and promote group-level interests over individual interests. Originality/value – The mechanisms through which performance improvement is achieved from e-business systems are still not fully understood. Little is still known about how digital capabilities and environmental factors work together to influence e-business value creation along the supply chain. In addition, while contextual factors have been highlighted within the stream, the knowledge base is especially limited regarding the role of global factors in shaping the attainment of value from e-business systems in this context. Filling these gaps, this study simultaneously investigates the roles of intermediate capabilities and the macro-environment in creating value from e-business in the supply chain.

The Strategic Value of Consumer Information Systems

2013 ◽  
pp. 110-134
Author(s):  
Paul Scifleet ◽  
Angela Lin
Keyword(s):  
Information Systems ◽  
Value Creation ◽  
Consumer Information ◽  
Creation Process ◽  
Strategic Value

When consumers are a source of innovation and value creation, and when information is increasingly produced and reproduced by consumers we need to reconsider the scope of information systems and their role in supporting companies to create value. The development of consumer information systems in recent years can potentially help companies to create platforms that facilitate and support company-consumer collaborations that create value. This chapter discusses the theories, concepts and practices informing new modes of consumer co-creation and co-production in business and the role of consumer information systems in supporting those processes. The chapter uses Nike as a case study to illustrate how both the company and consumers are able to derive benefits from value co-creation process supported by consumer information systems.

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