Understanding Collaborative Value Co-creation from Stakeholder Perspective: A Literature Review
Bal, Anik Shekhar (2019)
2019
Tuotantotalouden DI-ohjelma - Degree Programme in Industrial Engineering and Management
Tekniikan ja luonnontieteiden tiedekunta - Faculty of Engineering and Natural Sciences
This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Hyväksymispäivämäärä
2019-11-26
Julkaisun pysyvä osoite on
http://urn.fi/URN:NBN:fi:tuni-201911206111
http://urn.fi/URN:NBN:fi:tuni-201911206111
Tiivistelmä
Value Co-creation (VCC) has succeeded to grasp the attractiveness as a research stream from the scholars and practitioners due to its significant role in achieving competitive advantages. From the introductory period of VCC, the concept has been studied under the light of numerous contexts. However, lack of research papers can be noticed within the stakeholder’s perspectives, more specifically, managing stakeholder’s expectational complexities and generating maximum value from the multi-stakeholder’s collaboration.
The aim of this thesis resides in understanding the collaborative VCC process from the stakeholder’s perspective. The primary purpose here is to develop a theoretical framework of the VCC process after identifying the stakeholder’s expectations from the collaboration and triggering those expectations as motivators for ensuring active participation within the process. Another goal of this research is to provide recommendations on ensuring an effective collaborative approach for capturing the mutual objectives after mitigating the interest conflicts among the stakeholders.
Thorough research has been conducted on the existing literature to accomplish the specified motives. The theoretical background part of the paper has represented the value nature, VCC-concept from stakeholder’s involvement, along with existing challenges and stakeholder’s alignment within the VCC process. A preliminary VCC framework has also been introduced in the theoretical part. All the potential value drivers, modes of collaboration, available resource types and potential value indicators are provided in the findings part of the paper. The value drivers work as motivators for stakeholder’s engagement and represent stakeholder’s expectations. Based on these expectations, stakeholders collaborate with each other for mutual betterment by integrating resources. The collaboration results in value outcomes of the VCC process, which are represented as the value indicators. Finally, a theoretical framework of the collaborative VCC process from the stakeholder’s perspective is proposed with identified value drivers, modes of collaboration and value indicators in it. The proposed framework will provide insights on the process of transforming expected value towards realized value and ways to motivate stakeholders for active participation within the VCC process.
The aim of this thesis resides in understanding the collaborative VCC process from the stakeholder’s perspective. The primary purpose here is to develop a theoretical framework of the VCC process after identifying the stakeholder’s expectations from the collaboration and triggering those expectations as motivators for ensuring active participation within the process. Another goal of this research is to provide recommendations on ensuring an effective collaborative approach for capturing the mutual objectives after mitigating the interest conflicts among the stakeholders.
Thorough research has been conducted on the existing literature to accomplish the specified motives. The theoretical background part of the paper has represented the value nature, VCC-concept from stakeholder’s involvement, along with existing challenges and stakeholder’s alignment within the VCC process. A preliminary VCC framework has also been introduced in the theoretical part. All the potential value drivers, modes of collaboration, available resource types and potential value indicators are provided in the findings part of the paper. The value drivers work as motivators for stakeholder’s engagement and represent stakeholder’s expectations. Based on these expectations, stakeholders collaborate with each other for mutual betterment by integrating resources. The collaboration results in value outcomes of the VCC process, which are represented as the value indicators. Finally, a theoretical framework of the collaborative VCC process from the stakeholder’s perspective is proposed with identified value drivers, modes of collaboration and value indicators in it. The proposed framework will provide insights on the process of transforming expected value towards realized value and ways to motivate stakeholders for active participation within the VCC process.