Understanding Collaborative Value Co-creation from Stakeholder Perspective: A Literature Review

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

Collaborative Value Co-creation from a Stakeholder Perspective : A Literature Review

Since the value co-creation (VCC) concept was introduced as an alternative to the traditional value creation model, VCC has been studied in various contexts. The literature has mostly focused on a specific research context or a specific type of stakeholder group, leaving a comprehensive view of the stakeholders’ value elements in VCC poorly understood. To address this research gap, we conducted a systematic literature review to provide an overview of the conceptualization of VCC as well as stakeholders’ expected and realized value through collaboration. In accordance with the literature review, six value dimensions (economic, experiential, functional, relational, personal growth and corporate sustainability) are identified. On the basis of the findings of our literature review, we identify gaps in the literature and suggest an agenda for future research.Peer reviewe

co creating digital government service an activity theory perspective

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Understanding Collaborative Value Co-creation from Stakeholder Perspective: A Literature Review

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