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This study aims to explore how the co-created value arising from integrated solutions results in both, intended and spill-over effects.

The research uses a qualitative multi-level field study, with data from 12 respondents in 1 supplier firm and 29 respondents from 10 buying firms.

The resulting propositions suggest that co-created value developed through exploitative and emerging strategies, each may lead to both higher intended and spill-over effects. However, it appears that exploitative strategies are more effective in returning intended effects, whereas emerging strategies lead to higher spill-over effects.

The results are exploratory, obtained from a limited number of buyer companies. Concerns of external validity were traded off against opportunities to gain insights into a poorly understood phenomenon.

The paper contributes to the existing value co-creation literature by offering insights from integrated solutions, associated with the development of buyer and seller relationships. The resulting propositions suggest that co-created value developed through both exploitative and emerging strategies may each lead to both higher intended and spill-over effects. However, it appears that exploitative strategies are more effective in returning intended effects, whereas emerging strategies lead to higher spill-over effects.

Despite increasing interest in offshoring of knowledge-intensive services, it is still undetermined as to whether the sourcing of services truly creates the anticipated value for clients. Moreover, even less is known about whether value is created for service providers in the process beyond the general service trade. This lack of knowledge is due to the challenges of capturing value creation, the unique production process of the services, and the impact of offshoring on both value creation and the production process. The purpose of this paper is to study offshored service production processes of knowledge-intensive services in order to identify direct and indirect value creation for clients as well as service providers in the process.

The paper applies a multiple case study method and studies one conglomerate with three offshored service production processes. The chosen method allows for the investigation of the service production process and indirect/direct value creation within the process.

The study finds that there is direct value creation for the client and the service provider towards the end of the production processes as expected. However, more importantly, it finds additional indirect value creation in various production stages. The indirect value is reflected in enhanced understanding of problems and own operations for the client and increased knowledge about clients and problem-solving approaches for the service provider.

This study contributes to offshoring literature by providing a comprehensive understanding of value creation in service offshoring for clients as well as service providers. It also contributes to the service management literature as a study of direct and indirect value creation in services, particularly within the production process of the services.

The study allows practitioners to gain insights on the value creation logic of offshored services and the value created beyond that logic. More specifically, it allows client firms to gain details of various values and benefits of service offshoring and service provider firms to gain a focused perspective on value creation in their own service production that can lead to competitive advantages.

The paper is novel and original through its approach to study offshoring from a value creation logic perspective, including not only the client but also the service provider perspective. It also applies a service production process perspective that is novel in offshoring literature.

This chapter elaborates on entrepreneurship in developed and developing countries and focuses on the optimization of entrepreneurial activities. Various scenarios are considered: independent functioning of the market, integration in the form of reorganization (mergers and acquisitions), integration in the form of clustering, and integration in the form of innovational networks and technological parks. The optimal structure of the integration processes and best-case scenarios for its implementation to accelerate the rate and increase the quality of economic growth are substantiated. The potential for uptake of integration processes in stimulating economic growth through entrepreneurship is determined by the level of institutionalization in an economy. In developed countries, all forms of company integration are characterized by the high level of institutionalization, which allows for their effective use for economic growth. Independent companies, mergers, and acquisitions restrain economic growth and reduce its quality, while clusters, technological parks, and innovational networks accelerate the rate of economic growth and increase its quality. In developing countries, integration processes in entrepreneurship have a different influence on economic growth and require further institutionalization.

The purpose of this paper is to create a framework for measuring mutually created value in business relationships in the manufacturing sector, which also enables suppliers and customers to share this value between themselves.

The starting point is that manufacturing firms adopt a service perspective or logic for their entire business. The framework created includes a conceptual foundation for understanding the process of mutual value creation as well as theoretical basis and metrics for calculating mutually created value, joint productivity gains (JPGs) and value sharing. The framework for mutual value creation is created conceptually. The theoretical basis for the metrics used for the calculations and the development of the metrics are empirically grounded in a longitudinal case study.

By matching supplier and customer practices and thereby aligning corresponding processes, resources and competencies, suppliers can support their customers' business more effectively and thus enable the customers and also themselves to create incremental value which can be shared between the business partners. It is showed that the metrics for calculating JPGs and for sharing these gains in the form of additional value for the business partners, through a price mechanism, can be created and used.

Findings of the paper suggest an alternative way of creating value which is geared towards the demands of a service logic applied in business relationships. Productivity can be created jointly and not separately by the supplier and the customer, and an incremental value in the form of a JPG calculated and shared. To be able to do this, the business partners must have access to accounting data, and the customer and the supplier must be willing to open up their books and engage in mutual practice matching. This demands that a service logic is adopted for the entire manufacturing business, not separately for industrial service activities only, which is the traditional approach to studying service in manufacturing.

Traditionally, value is viewed as an outcome, not as a process of mutual value creation, the outcome of which can be calculated. Productivity as a joint concept and jointly created productivity gains enable firms to share the gains created through mutual value creation. In the literature so far, productivity and value creation have not been studied as mutual concepts. In addition, approaching the entire manufacturing business from a service logic point of view is also novel.

This paper aims to deal with the concepts of “institutions” and “institutional logics” in the context of business-to-business (B2B) marketing systems and uses institutional theory as a framework to look at value co-creation.

By integrating the literature on value co-creation, institutional theory and institutional entrepreneurship, the paper argues that the boundaries of B2B marketing systems are continuously reshaped through legitimation processes occurring through actors’ institutional work, thus making co-created value the only legitimate value.

The paper proposes a conceptual framework and furthers the conceptual development of value co-creation and augments the literature on service-dominant logic and the notion of co-created value by assuming a legitimacy-based B2B market systems perspective.

This paper presents a number of propositions that serve to illustrate several managerial implications. These arise from organizations co-creating value by conforming to the various institutional logics that maximize their legitimacy.

The paper makes a contribution by developing a critical theoretical framework based on the application of institutional theoretical constructs/concepts (e.g. ceremonial conformity, decoupling, considerations of face, confidence and good faith).

The purpose of this paper is to understand the relationship between customer participation, co-created value and customer engagement as well as customer motivation involved in this process.

Respondents were randomly exposed to one of the six types of social media scenarios. A total of 181 respondents were drawn from an MTurk opt-in survey panel of individuals who resided in America and were over the age of 18 years.

Overall, the results of this study showed that as the level of customer participation increased, the level of co-created value decreased. The relationship between customer participation and customer engagement was fully mediated by co-created value. Extrinsic motivation was found to moderate the relationship between customer participation and co-created value but did not moderate the relationship between customer participation and customer engagement. Moreover, customer engagement was at its highest when an external reward was not offered, in other words, when customers were intrinsically motivated. Furthermore, when an external reward was offered, a significant effect of privacy concern on customer engagement was observed.

The study extends the current understanding of customer engagement through value co-creation, customer participation and perceptions of privacy in firm-initiated activities in social media.

This paper aims to examine driving retirement and its impact on the well-being of older citizens. The concepts of value creation and destruction are used to understand older consumers’ experiences with the self-service consumption activity of driving. This paper formally introduces the concept of value re-creation, as a means of restoring the overall value lost from the destruction of certain components of previous value structures. In doing so, this paper explores the different ways that resources across the micro, meso and macro levels of the ecosystem can be re-aligned, in order for older citizens to maintain their well-being after driving retirement.

A qualitative, individual-depth interview approach was undertaken with 26 participants living in New South Wales, Australia. The participants comprised of both drivers approaching driving retirement age, as well as driving retirees. Thematic analysis was undertaken to analyse the data.

The findings identified that emotional value in the forms of freedom, independence/autonomy and enjoyment, functional value in the forms of convenience and mobility and community value are created from driving. Driving retirement destroys certain components of this value (e.g. enjoyment and convenience) irrevocably, however freedom, independence/autonomy, mobility and social connectedness can still be maintained through re-aligning resources across the micro, meso and macro levels of the ecosystem. New components of value are also created from driving retirement. These include peace of mind, which contributes to the re-creation of the emotional value dimension, and cost savings, which creates the new value dimension of economic value. These changes to the value structure effectively re-create the overall value obtained by individuals when they retire from driving.

The main contribution of this work is the formal introduction of the concept of value re-creation at the overall and value dimension level, and development of a conceptual model that explains how this value re-creation can occur. The model shows the resource contributions required across all levels of the ecosystem, expanding on existing conceptualisations that have predominantly focussed on resource contributions at the individual and service levels.

The paper attempts to analyze the network structure of value activity in manufacturing clusters, propose the model of value creation of cluster's value activity network, and explore the inner mechanism and optimization strategies of value creation in manufacturing clusters from the perspective of cluster's value activity network.

This paper applies a genetic algorithm to optimally search in the target space, and repeatedly exerts genetic operation (select, cross, variation) on the population to explore the optimal configuration strategy between value creation activity and resource utilization. It also analyzes the relation between object function of value creation and relative parameters.

The total value created by value activity network was impacted by the degree of effective configuration between all kinds of resources and value activities; the total value created by value activity network is positively related to activity units' elasticity coefficient of value creation of human resource, material resources and relations resource, and is negatively correlated to cost coefficient of human resource, material resources and relations resource; when the cooperative relations between activity units create positive relationship profit, the total value created by value activity network increases with the increase of cooperative relations between activity units.

Enterprises in clusters should reasonably configure and incorporate the resource among value activities through adding, deleting or reconfiguring activities, which makes the value activities network create maximum value; enterprises can transform the type of activity units to increase elasticity coefficient of value creation of human resources, such as transforming production activities into the high value‐added activities; enterprises can optimally incorporate the technical, material resources and human resources among activities to increase value creation elastic coefficient of material resources; enterprises can decrease cost coefficient by maintaining the stability of long‐term cooperation with the suppliers and strengthening the cultivation of talents; enterprises can increase profits from relation resource or reduce cost coefficient of relationship by updating activities, building trust mechanism and communication mechanisms and establishing long‐term cooperation relationship to improve value creation activities.

This paper proposes the model of value creation from the perspective of cluster's value activity network, and applies a genetic algorithm to explore the optimal configuration strategies between value creation activity and resource utilization.

European elite professional basketball clubs do not pursue economic profit maximization per se, but they also seek to create social value for stakeholders due to the community outreach and the emotional bonding that such organizations create. Here the purpose of this paper is to use an accounting system called social accounting to measure the social effects of an organization's activity in an effort to monetize and describe the holistic value created by these sports organizations for their stakeholders.

This study applies an adapted, redesigned social accounting using SPOLY methodology to two elite basketball clubs in the ACB League (Spanish First Division), in order to monetize their social value. This methodology integrates non-market social value (value created for stakeholders without a financial transaction) with market social value (value created for stakeholders through market transactions), by monetizing validated dimensions for non-market and market social value obtained via information provided by clubs and their financial statements.

Clubs create a quantifiable social value for stakeholders through non-market and market dimensions. Value creation is not merely restricted to securing financial profit for shareholders but rather takes on another dimension in which the various stakeholders receive a holistic value from clubs.

This study provides evidence that clubs generate a quantifiable social value for their stakeholders that complements their economic value. This can help clubs to set up their own narrative concerning value creation for stakeholders and enable them to convey and manage the overall distributed value for stakeholders.

Using service-based logic as its theoretical lens, this study aims to approach residents’ place satisfaction in a novel way. The purpose is to explore residents’ perception of the place in which they live and to shed new light on their place satisfaction.

The paper is based on explorative qualitative focus group research. Data were collected in two typical municipalities in southern Sweden. The sampling procedure was purposive, resulting in six focus groups, consisting of a total of 33 residents. The empirical material was transcribed and analyzed using a structured content analysis inspired by grounded theory.

A model for understanding residents’ perceptions of what constitutes a good place to live is introduced. The model shows that many value propositions are produced in the provider sphere, independent of the user, for example by the municipality or the business sector. Other value propositions are co-created in a joint sphere, meaning that the user is actively involved in the production of these value propositions. The resident then uses different value propositions to create value-in-use in the resident sphere, independent of the provider, and to co-create value-in-use in the joint sphere.

The study creates a bridge between the stream of research on place satisfaction and studies that take stakeholders and co-creation into consideration; it shifts from the prevalent provider perspective on place branding and static place attributes to a focus on the relationship between users and providers.