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Book part
Publication date: 10 November 2010

Stephen L. Vargo, Robert F. Lusch, Melissa Archpru Akaka and Yi He

Abstract

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Review of Marketing Research
Type: Book
ISBN: 978-0-85724-728-5

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Article
Publication date: 1 January 2005

Norman T. Sheehan, Ganesh Vaidyanathan and Suresh Kalagnanam

Most, if not all, management control tools were formulated for firms employing an industrial value creation logic (i.e., Ford, McDonald’s, and Wal‐Mart). We argue that…

Abstract

Most, if not all, management control tools were formulated for firms employing an industrial value creation logic (i.e., Ford, McDonald’s, and Wal‐Mart). We argue that given the growth, both in number and importance, of firms employing a knowledge value creation logic (i.e., Accenture, Goldman Sachs, and Clifford Chance) and firms employing a network logic (i.e., Verizon, eBay, and Expedia) that these control tools should be revisited in light of this potentially critical contingency. This paper outlines the key characteristics of knowledge intensive firms and network service firms and then examines how these contingencies impact Simons’ (1995) Levers of Control and Kaplan and Norton’s (1996) Balanced Scorecard. We find that whilst each lever/perspective is still relevant for each value creation logic, the relative importance and thus intensity of use should vary between logics.

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Qualitative Research in Accounting & Management, vol. 2 no. 1
Type: Research Article
ISSN: 1176-6093

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Book part
Publication date: 21 December 2010

Richard Schoenberg and Cliff Bowman

We propose a typology of acquisition value creation logics derived from the dynamic capability literature and explore the organisational capabilities and implementation…

Abstract

We propose a typology of acquisition value creation logics derived from the dynamic capability literature and explore the organisational capabilities and implementation processes required for the effective delivery of three value creation logics: governance-based, cost-based and knowledge-based. We argue that each value creation logic calls for a specific and distinct set of acquirer capabilities and post-acquisition implementation processes. We put forward a contingency approach, where effective corporate acquirers make a conscious choice as to their predominant value creation logic based on a consideration of their organisational capabilities, which, in turn, defines the characteristics of appropriate target companies and the necessary implementation actions required to realise value post-acquisition. We discuss the implications for both acquiring firm executives and future M&A research.

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Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-0-85724-465-9

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Article
Publication date: 10 November 2014

Peter D. Ørberg Jensen and Bent Petersen

While mainstream theories in international business and management are foundedeither explicitly or implicitly on studies of manufacturing firms, prior attempts to develop…

Abstract

Purpose

While mainstream theories in international business and management are foundedeither explicitly or implicitly on studies of manufacturing firms, prior attempts to develop theoryon the internationalization of service firms are sparse and have yet to establish solid andcomprehensive frameworks. The thrust of this study is that value creation logics, a constructoriginally developed by Stabell and Fjeldstad (1998) can assist us in better understanding why and how service firms internationalize. The authors extend this construct and propose that the internationalization of service firms must be based on a thorough understanding of the fundamental nature of these firms.

Design/methodology/approach

Theoretical study.

Findings

The authors put forward propositions concerning the pace of internationalization and the default foreign operation modes in service firms.

Research limitations/implications

The use of value creation logics can be a useful complement to the conventional approaches to the study of service firms’ internationalization. However, the fact that most firms encompass more than one value creation logic complicates the use of firm databases and industry statistics.

Practical implications

The authors suggest that managers in service firms should consider primarily the nature of the value creation logic(s) in their firms when deciding and designing an internationalization strategy.

Originality/value

The study presents a novel theoretical approach and a set of propositions on service firm internationalization founded on the specific characteristics of the service activities.

Details

International Marketing Review, vol. 31 no. 6
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 5 September 2020

Marta Massi, Michel Rod and Daniela Corsaro

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Practical implications

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.

Originality/value

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).

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Journal of Business & Industrial Marketing, vol. 36 no. 2
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 14 July 2020

Harald Brege and Daniel Kindström

To successfully create customer value, firms must use coherent market strategies and perform value-creating activities that enable them to develop solutions to customers…

Abstract

Purpose

To successfully create customer value, firms must use coherent market strategies and perform value-creating activities that enable them to develop solutions to customers’ needs. However, as firms exhibit differences in how they approach value creation, their market strategies will also differ. These differences among market strategies can be described through different combinations of proactivity and responsiveness, representing each firm’s value-creation logic. This study aims to increase understanding of how firms can improve the effectiveness of their market strategies by considering their associated value-creation logics.

Design/methodology/approach

The authors conceptualize market strategies as coherent sets of value-creating activities. While the types of activities within a market strategy are driven by a firm’s strategic orientations, how these activities are performed is influenced by its value-creation logic. With this as the foundation, the authors develop a conceptual typology of archetypal market strategies based on the different value-creation logics that influence them.

Findings

The authors propose four distinct market strategies – habitual, visionary, adaptive and ambidextrous – representing unique ways in which value-creation logics influence the formation of market strategies. Furthermore, the authors highlight the need for activities to reflect consistent value-creation logics to create coherent market strategies and the authors provide an exploration of the activities that enable firms to implement different types of market strategies.

Originality/value

The typology expands the concept of market strategy, introducing the idea of a value-creation logic of proactivity and responsiveness, and thus demonstrating the need for more in-depth consideration of the value-creating activities that constitute market strategies to better understand how firms can create superior customer value.

Details

Journal of Business & Industrial Marketing, vol. 36 no. 1
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 22 February 2011

Rozhan Othman and Norman T. Sheehan

The purpose of this paper is to locate different value creation logic contingencies within the resource management framework. While Sirmon et al. discuss how external…

Abstract

Purpose

The purpose of this paper is to locate different value creation logic contingencies within the resource management framework. While Sirmon et al. discuss how external environmental contingencies, such as environmental munificence, impact resource management, this paper aims to discuss a second key contingency; that is how the firm's choice of value creation logics impacts its resource management choices. This paper seeks to argue that management of the firm's resources and capabilities is contingent on the value creation logic employed by the firm.

Design/methodology/approach

This paper reviews three value creation logics: value shop, value network, and value chain and then integrates them within the resource management framework.

Findings

A review of extant literature indicates that value shop firms, value network firms, and value chain firms enact very different environments and thus require very different resources and capabilities to support their value creation approaches. It is argued that Sirmon et al.'s resource management framework should reflect these differences.

Research limitations/implications

This paper points to new directions for research in value creation logic theory and provides a basis for future empirical work.

Practical implications

This paper argues that a mismatch between a firm's value creation logic and its resource management practices will have an adverse impact on the firm's performance.

Originality/value

This study is one of the first to integrate Stabell and Fjeldstad's value creation logic theory with Sirmon et al.'s resource management framework.

Details

Journal of Strategy and Management, vol. 4 no. 1
Type: Research Article
ISSN: 1755-425X

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Article
Publication date: 9 March 2015

Bo Enquist, Samuel Petros Sebhatu and Mikael Johnson

The purpose of this paper is to provide a deeper understanding of transcendence as business logic and to advance value co-creation and value network thinking. The authors…

Abstract

Purpose

The purpose of this paper is to provide a deeper understanding of transcendence as business logic and to advance value co-creation and value network thinking. The authors are looking for business logic to have wider understanding of sustainable business. Understanding how value is “networked” and “co-created” by what the authors will call “transcendent business logic” in specific contextual settings is deemed essential in securing sustainable business, which social and environmental perspectives and governance issues are embedded. The authors lay the foundation for enriching the transcendence for business logics for a sustainable business based on sustainability, stakeholder-unifying perspective and value creation network theories.

Design/methodology/approach

The study adopts a qualitative approach, using multiple case studies to undertake an analysis of the role of transcendence for business logics. Four case studies of private companies and parallel case studies of retail, health care and public organizations (regional public transport networks) are applied. The paper further asses a methodological approach goes beyond the positivistic paradigm in service research to understand the texts and analyze the research materials. This section presents the methodological approach based on transcendence beyond objectivism and relativism and the transformation process of transcendence business logic.

Findings

The paper demonstrates that “different business logics” contributes to securing sustainable business embedded on social and environmental perspectives on governance issues. The authors have shown this based on the idea of transcendence, which can be used from a methodological point of view based on a deeper understanding beyond objectivism and relativism. The authors argued in this paper for a methodological path beyond functionalism. The authors are providing a deeper understanding of the business logic; co-creating value for people and developing sustainability for society. The study has also shown that values form the network, and co-creation is the basis for transcending the business logics.

Originality/value

The paper makes original contribution to the exploring transcendence for business logics to be in lieu of guiding open source business models based on the need for understanding of the new logic in the new complex landscape. In service research, the main theoretical challenges of understand and integrating value co-creation and value networks to secure sustainable businesses are founded on the principles of steering and navigation. In this study the authors addressed the need for advancement of value co-creation network thinking and perusal for the business logic to have a wider understanding of sustainable business.

Details

Journal of Service Theory and Practice, vol. 25 no. 2
Type: Research Article
ISSN: 2055-6225

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Article
Publication date: 15 March 2011

Christian Grönroos and Annika Ravald

The purpose of this article is to analyze the scope, content and nature of value co‐creation in a service logic‐based view of value creation, addressing the customer's…

Abstract

Purpose

The purpose of this article is to analyze the scope, content and nature of value co‐creation in a service logic‐based view of value creation, addressing the customer's perspective in a supplier‐customer relationship. The nature of the activities and the roles of the supplier and the customer in value creation and co‐creation are analyzed. Furthermore, the purpose is to discuss what implications for marketing can be derived from this analysis.

Design/methodology/approach

The article analyzes the marketing implications that follow from the pivotal role of interactions in service provision. The article, thus, builds on a long history in service marketing research pointing at the impact on the content and scope of marketing of customer‐supplier interactions.

Findings

In this article, it is concluded that creating customer value is a multilaned process consisting of two conceptually distinct subprocesses. These are the supplier's process of providing resources for customer's use and the customer's process of turning service into value. The article results in five service logic theses which provide an understanding of the process of value creation and its implications for marketing. The theses offer a terminology that helps researchers and practitioners to understand the various roles of suppliers and customers in value creation and to analyze opportunities for co‐creation of value.

Originality/value

The findings of this article challenge some of the salient propositions of the emerging service‐dominant logic, i.e. customers as co‐creators of value, and firms can only make value propositions. The role of marketing is reframed beyond its conventional borders.

Details

Journal of Service Management, vol. 22 no. 1
Type: Research Article
ISSN: 1757-5818

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Article
Publication date: 10 August 2010

Kristina Heinonen, Tore Strandvik, Karl‐Jacob Mickelsson, Bo Edvardsson, Erik Sundström and Per Andersson

The paper seeks to introduce to a new perspective on the roles of customers and companies in creating value by outlining a customer‐based approach to service. The…

Abstract

Purpose

The paper seeks to introduce to a new perspective on the roles of customers and companies in creating value by outlining a customer‐based approach to service. The customer's logic is examined in‐depth as being the foundation of a customer‐dominant (CD) marketing and business logic.

Design/methodology/approach

The authors argue that both the goods‐ and service‐dominant logic are provider‐dominant. Contrasting the provider‐dominant logic with CD logic, the paper examines the creation of service value from the perspectives of value‐in‐use, the customer's own context, and the customer's experience of service.

Findings

Moving from a provider‐dominant logic to a CD logic uncovered five major challenges to service marketers: company involvement, company control in co‐creation, visibility of value creation, scope of customer experience, and character of customer experience.

Research limitations/implications

The paper is exploratory. It presents and discusses a new perspective and suggests implications for research and practice.

Practical implications

Awareness of the mechanisms of customer logic will provide businesses with new perspectives on the role of the company in their customers' lives. It is proposed that understanding the customer's logic should represent the starting‐point for the company's marketing and business logic.

Originality/value

The paper increases the understanding of how the customer's logic underpins the CD business logic. By exploring consequences of applying a CD logic, further directions for theoretical and empirical research are suggested.

Details

Journal of Service Management, vol. 21 no. 4
Type: Research Article
ISSN: 1757-5818

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