Value Proposition Through Knowledge Sharing and Crowdsourcing

2020 ◽  
Vol 2 (1) ◽  
pp. 124-138
Author(s):  
Dimitrios Siakas ◽  
Kerstin Viola Siakas
Keyword(s):  
Value Creation ◽  
Online Social Networks ◽  
Open Innovation ◽  
Customer Value ◽  
Innovation Process ◽  
Business Value ◽  
User Engagement ◽  
Value Proposition ◽  
Common Goal ◽  
A Value

A value proposition is important to businesses and their success, because it analyses the needs of customers or users and what they are willing to pay for. This study aims to make explicit the process of integrating/involving the customer/user in the innovation process and of conceptualizing customer value creation, by identifying different perspectives of value and customer/user engagement. Potential ways for gaining added business value through a suitable value proposition based on crowdsourcing are examined. Open innovation is investigated as a tool for integrating customers/users in the innovation process, in particularly in the ideation stage of innovation. Crowdsourcing is a paradigm that assumes that companies can and should use external ideas in addition to internal ideas for creating value and assume that internal ideas can be taken to market by external channels, outside the current business of the company. Online social networks are particularly suitable channels for engaging customers and users for a common goal regarding innovation, problem solving, and efficiency.

A value proposition for cyberspace management in organizations

2018 ◽  
Vol 35 (3) ◽  
pp. 122-127 ◽  
Author(s):  
Jestine Philip ◽  
Manjula S Salimath
Keyword(s):  
Nonprofit Organizations ◽  
Value Creation ◽  
Positive Contribution ◽  
Value Proposition ◽  
A Value ◽  
Organizational Value

The rapidly increasing significance of cyberspace and the corresponding use of new cyberspace technologies are seen in private, public, and nonprofit organizations across the globe. However, along with the abundant organizational advantages of operating in cyberspace, it also creates vulnerabilities such as the possibility of cyberattacks which can erode value. In light of these current realities, we propose a value creation agenda for organizations that operate in cyberspace. We suggest that when organizations effectively manage the risks associated with cyberattacks and continue to attain benefits from cyberspace, there is a positive contribution toward organizational value.

scholarly journals Value Creation Attributes—Clustering Strategic Options for Romanian SMEs

2020 ◽  
Vol 12 (17) ◽  
pp. 7007 ◽  
Author(s):  
Alin Stancu ◽  
Alina Filip ◽  
Mihai Roșca ◽  
Daniela Ioniță ◽  
Raluca Căplescu ◽  
...  
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Quantitative Research ◽  
Principal Component ◽  
Customer Experience ◽  
Value Proposition ◽  
Multiple Sources ◽  
Customer Delight ◽  
Value Propositions ◽  
Strategic Options

Value proposition can be an important source of competitive advantage for small and medium sized enterprises (SMEs). Unlike large companies which follow a rational and sequential process, developing a value proposition in an SME is instead a trial and error process. Therefore, those companies are experimenting with various options. The purpose of this paper was to identify the value strategies used by SMEs based on value dimensions and attributes and to find specific groups of SMEs with a similar market approach. We present a theoretical framework on customer value creation and customer value communication, followed by a quantitative research on 399 Romanian SMEs. We used a principal component analysis to reduce the number of choices and afterwards we ran a cluster analysis to identify the distinct groups of SMEs using specific value propositions. We found that there are three major strategic options based on customer experience, affordability and customization, and four distinct clusters: customer delight (A), multiple sources of differentiation (B), one-to-one marketing (C) and cost—effectiveness (D). Three groups use distinct value propositions—A focuses on customer experience, C on customization, D on affordability—while B mixes all of them.

Value creation mechanisms of business models

2018 ◽  
Vol 19 (3) ◽  
pp. 166-176 ◽  
Author(s):  
Vladyslav Biloshapka ◽  
Oleksiy Osiyevskyy
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Business Value ◽  
Value Proposition ◽  
Value Appropriation ◽  
Value Capture ◽  
Fine Grained ◽  
Case Vignettes ◽  
Current Article

Management scholars and practitioners generally agree that the primary functions of a business model are value creation and value capture. However, the meaning (conceptualization) of these terms, their measurement, and the factors and mechanisms affecting them remain contentious. In the current article, we provide answers to these questions by clarifying the consumers’ value creation and business value capture constructs. Then, we demonstrate how they are determined by four business model mechanisms: value proposition and value targeting (affecting consumers’ value through willingness to pay) and value appropriation and value delivery (affecting business value through price and cost). We demonstrate that a fine-grained analysis of a business model’s value creation cannot be adequately performed without reference to these four mechanisms. The developed conceptual framework is illustrated and corroborated by the mini-case vignettes. We finish by outlining an application of the proposed framework to two crucial real-world business model situations: escaping the Giver Trap and remaining the Winner.

scholarly journals Customer value creation via business model implementation

2015 ◽  
Vol 10 (10) ◽  
pp. 2580-2584
Author(s):  
Karaoulanis Andreas
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Customer Value ◽  
Business Models ◽  
Value Proposition ◽  
Model Concept ◽  
Customer Value Proposition

Business models are the blueprints upon which the whole structure and operation of the company is based. The aim of this paper is to underline the importance of business models in value creation for the company and to dig a bit deeper by revealing the synthesis of an abstract business model concept. The importance of customer value proposition via the customer value creation is very well underlined in order to pinpoint the author’s prevalent idea that focusing on customers’ needs should be the alpha and the omega for the eurythmic operation of every contemporary company.

scholarly journals Incorporating the Value Proposition for Society with Business Models of Health Tourism Enterprises

2019 ◽  
Vol 11 (23) ◽  
pp. 6711 ◽  
Author(s):  
Richard W. Butler ◽  
Adam R. Szromek
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Customer Value ◽  
Business Models ◽  
Relevant Literature ◽  
Research Literature ◽  
Value Proposition ◽  
Sustainable Business ◽  
Health Tourism ◽  
Tourism Enterprises

This article discusses the need to expand the concept of the value proposition, in order that this business model component includes the value for a customer, the value captured by the enterprise, and the value for the community, as well as benefits for the natural environment. The objective of the article is to identify sustainable development components that have been proposed for tourist enterprises in the research literature. The article proposes actions to complement existing tourist enterprises business models in order to give them the characteristics of a sustainable business model and to implement practices of value creation for the community. The research notes that the value captured by an enterprise determines the level of implementation of its economic objectives resulting from the value creation for the customer and implementation of social objectives (including pro-ecologic ones). The revenues of an enterprise depend, first of all, on meeting the expectations of the customer, meaning that they depend on the value proposition for the customer, and their volume will allow researchers to determine the possibility of creating value for the community. The expected tendency to create value for the community is argued to be proportional to the effectiveness of customer value influence, less the value captured by the enterprise. After an initial review of relevant literature, attention is focused on health tourism enterprises and how these principals can be applied in that context.

Why top managements must change their fundamental assumptions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Denning
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Design Methodology ◽  
Content Type ◽  
Business People ◽  
A Value ◽  
Current Context ◽  
Purpose Of Business ◽  
Value Creation Process ◽  
Practical Implications

Purpose Despite today’s profusion of customer-centric rhetoric, most business people still believe that the primary purpose of business is profits. But the most resilient and sustainably successful firms consistently select one primary purpose: enrich the lives of their customers. 10; Design\methodology\approach The article maps how the most valuable and fastest growing firms are paving the way for an era of customer-driven capitalism. Findings In the current digital age, an obsession with delivering value to customers is proving to be the key driving force for success. Practical\implications The goal of customer-value primacy is not a threat to other stakeholders. Originality\value Customer-driven leadership is a hallmark of successful management in the current context. Top management must institute and continuously support a value creation process that works backwards from the future. 10;

scholarly journals The commercialisation of bioinformatics and the threat of open-source software

1969 ◽  
Vol 13 (3) ◽  
Author(s):  
Joseph F Greco
Keyword(s):  
Open Source ◽  
Open Source Software ◽  
Value Creation ◽  
Innovation Process ◽  
Financial Ratio ◽  
Translation Model ◽  
A Value ◽  
Select Group ◽  
Five Phases ◽  
The Impact

This study investigates the commercialisation process of a select group of bioinformatics companies and the impact of open-source software. Using the research–development–application translation model provides a framework for managers as an iterative mechanism. A Value Creation Pipeline is then introduced with five phases of the commercialisation process that provide specific financial benchmarks that can guide the firm through to successful commercialisation. Using trend and financial ratio analyses relative to returns, profitability and liquidity, the study finds that the surge in open-source licenses between 2003 and 2005 limited the sales for some firms. As for the claim that open-source software negatively impacts the success of bioinformatics commercialisation, there was little evidence to suggest a direct cause-and-effect relationship. Losses in returns, profitability and liquidity were just as common before the rise of open source as after its emergence. When firms report an overall record over a nine-year period of poor return on investment, assets and equity, there is little to attract potential investors. The lesson that can be drawn is that the innovation process and financial tracking must be integrated to ensure efficient and profitable use of investor funds.

scholarly journals The Value Proposition

2021 ◽  
pp. 57-71
Author(s):  
Jan Jonker ◽  
Niels Faber
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Building Block ◽  
Value Proposition ◽  
A Value ◽  
Organizational Logic

AbstractA business model is a description of how value creation is organized, underpinned by a value proposition. Such a proposition solves a problem or appeals to new, often yet undiscovered needs. Value creation has several facets. This building block offers a framework of five positions of value creation from which to choose and links it to strategies you can use. This in turn is then linked to the possibility of creating change with your business model-to-be. The more precisely you align the nature of those values and the change you would like to create, the better you will be able to design an appropriate (organizational) logic at a later stage. Formulating a clear and compelling value proposition is crucial in the development of a business model. It gives direction to the strategy, to the stakeholders with whom you could take these steps, and to what impact you expect to realize.

scholarly journals A Dual Perspective of Value in a Bundle of Product and Service

2017 ◽  
Vol 8 (4) ◽  
pp. 27-41
Author(s):  
Niusha Safarpour ◽  
Ilkka Sillanpää
Keyword(s):  
Customer Value ◽  
Business Models ◽  
Real Life ◽  
Value Proposition ◽  
A Value ◽  
Modern Age ◽  
The Arts ◽  
Customer Lifetime ◽  
Lifetime Value ◽  
Dual Perspective

AbstractFocusing on value creation in marketing has always been the key to success for companies. As a result, the definition, analysis and communication of value has gained importance. Companies are making an attempt to make a value proposition that is not only lucrative for the customer, but also has great returns for the company itself. Although this might sound simple on paper, since it is the basis for business logic, it is much more complicated in real life situations. With the service elements in the offering and the emergence of technologies such as smart and connected phenomenon, the business models become more innovative and more complexity is added to the analysis of value.The objective of this paper is to introduce a method for the dual perspective of value in a bundle of product and service in a smart and connected context. This method draws from the customer value and customer lifetime value concepts to offer an all-inclusive study on value. This assists companies in crafting an appealing value proposition in a cost-saving offering for a client that offers value to the company over its lifetime. This study specifically deals with the state of the arts smart and connected phenomenon and provides a view on how value works in that context.The framework created through this study serves to help the company choose a client that is of most value to the firm over the time of their cooperation. It then leads the company towards a better fabrication of the offering that is not only an attractive proposition to the client but also for the company. It gives a close insight onto where the benefit comes from and how a smart and connected bundle of products, services and relationships must be put together for maximum results in the modern age.

scholarly journals Creating sustainable value through food waste management: does retail customer value proposition matter?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Iona Yuelu Huang ◽  
Louise Manning ◽  
Vicky Wood ◽  
Katy L. James ◽  
Anthony Millington ◽  
...  
Keyword(s):  
Cluster Analysis ◽  
Food Waste ◽  
Value Creation ◽  
Customer Value ◽  
Management Practices ◽  
Value Proposition ◽  
Content Type ◽  
Sustainable Value ◽  
Retail Managers ◽  
Customer Value Proposition

PurposeThis research aims to explore retail managers' views on how food waste (FW) management activities contribute to sustainable value creation and how the customer value proposition (CVP) for a given food retailer interacts with their approaches to FW management.Design/methodology/approachA three-stage exploratory qualitative approach to data collection and analysis was adopted, involving in-depth interviews with retail managers, documentary analysis of multiple years of relevant corporate reports and email validation by seven major UK grocery retailers. Thematic content analysis supplemented by word similarity cluster analysis, two-step cluster analysis and crisp-set qualitative comparative analysis was undertaken.FindingsFW management practices have been seen by retail managers to contribute to all forms of sustainable value creation, as waste reduction minimises environmental impact, saves costs and/or serves social needs, whilst economic value creation lies at the heart of retail FW management. However, retail operations are also framed by CVP and size of a retailer that enable or inhibit the adoption of certain FW management practices. Low-price retailers were more likely to adopt practices enabling them to save costs. Complicated cost-incurring solutions to FW were more likely to be adopted by retailers associated with larger size, high quality and a range of services.Originality/valueThis study is the first of its kind to empirically explore retail managers' perception of sustainable value creation through FW management activities and to provide empirical evidence of the linkages between retail CVP and sustainable value creation in the context of retail FW management.

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