Title

Examining Value in Co-Creation in the Digital Era

Prize Winner

Streaming Media

Type of Proposal

Oral presentation

Start Date

31-3-2017 2:00 PM

End Date

31-3-2017 3:20 PM

Faculty

Odette School of Business

Faculty Sponsor

Dr. Bharat Maheshwari

Abstract

Examining Value in Co-Creation in the Digital Era By: Laura Tetrault Odette School of Business, BComm 4th year Context: Traditionally, producers and consumers were viewed as separate entities. One active, one passive. Value co-creation changes that relationship, giving all players the capacity to be active and participatory. We explore the process of creating value through a combination of lenses including social science, marketing, business strategy, management science and information systems. In an increasingly digital world, electronic exchanges are keys. They allow ordinary consumers to change or take on new roles inside and outside of organizations, bypass gatekeepers and give direct feedback. Importance: As businesses move into digital spaces of conversation and interaction companies must develop empathy with consumers in order to ensure that their solutions “fit”. To do this, many organizations are learning to invite and encourage key stakeholders to actively participate in co-creating value. Research Question: This paper explores the current state of research and understanding surrounding value co-creation using electronic media. We identify the roles, processes, risks and rewards that exist within the value co-creation experience for stakeholders and firms. Methods: This paper draws on a broad literature review from multiple disciplines that includes qualitative analysis. Specific variables of interest include roles that consumers and businesses could play in co-creation, stakeholders who would be the most active participants, risks and rewards involved in partnerships and best practices recommendations. Findings: Identify processes used by companies and stakeholders for value co-creation. Several mediums and tools such as Agile development, that assist in adaptive approaches to creating more robust solutions. A clear identification of risks and rewards related to the information systems industry. Conclusion: The research provides several insights into firm and stakeholder motivations related to the co-creation process. Specifically, how the electronic medium is changing and facilitating deeper interaction between the two. Proprietary ownership of information is being reconsidered and the implications of this shift are still unfolding.

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Mar 31st, 2:00 PM Mar 31st, 3:20 PM

Examining Value in Co-Creation in the Digital Era

Examining Value in Co-Creation in the Digital Era By: Laura Tetrault Odette School of Business, BComm 4th year Context: Traditionally, producers and consumers were viewed as separate entities. One active, one passive. Value co-creation changes that relationship, giving all players the capacity to be active and participatory. We explore the process of creating value through a combination of lenses including social science, marketing, business strategy, management science and information systems. In an increasingly digital world, electronic exchanges are keys. They allow ordinary consumers to change or take on new roles inside and outside of organizations, bypass gatekeepers and give direct feedback. Importance: As businesses move into digital spaces of conversation and interaction companies must develop empathy with consumers in order to ensure that their solutions “fit”. To do this, many organizations are learning to invite and encourage key stakeholders to actively participate in co-creating value. Research Question: This paper explores the current state of research and understanding surrounding value co-creation using electronic media. We identify the roles, processes, risks and rewards that exist within the value co-creation experience for stakeholders and firms. Methods: This paper draws on a broad literature review from multiple disciplines that includes qualitative analysis. Specific variables of interest include roles that consumers and businesses could play in co-creation, stakeholders who would be the most active participants, risks and rewards involved in partnerships and best practices recommendations. Findings: Identify processes used by companies and stakeholders for value co-creation. Several mediums and tools such as Agile development, that assist in adaptive approaches to creating more robust solutions. A clear identification of risks and rewards related to the information systems industry. Conclusion: The research provides several insights into firm and stakeholder motivations related to the co-creation process. Specifically, how the electronic medium is changing and facilitating deeper interaction between the two. Proprietary ownership of information is being reconsidered and the implications of this shift are still unfolding.