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This paper proposes an Exchange-Based View of the value creation process. The Borrowing from marketing literature, the EBV advances that entrepreneurs and stakeholders are tied by exchange relationships, through which they co-create value by reciprocally making and realizing promises of value.

Propositions are developed and offered to advance the role of exchange in the entrepreneurial value creation process.

The authors conceptualize the enterprise as a system of exchange relationships between entrepreneurs and their stakeholders, thus proposing an exchange-based view of entrepreneurship.

Such an account of the role of entrepreneurs and of their relationship with the stakeholders has meaningful implications for our understanding of the entrepreneurial tasks of opportunity recognition and exploitation.

Purpose – The aim is to introduce a sociological perspective on resource integration and value co-creation into service research using a service systems approach.

Methodology/approach – Conceptual and a case study of the service system a Telecom Equipment and Service Provider is embedded in is reported.

Findings – The service practice of the service system is framed by social structures of signification, legitimation, and domination. However, the practice is also independent of the structures since it is embedded in and shapes the structural realm.

Research implications and limitations – Drawing on structuration and practice theory, the chapter offers a new framework describing how social and service structures and practices can inform and reveal mechanisms of service system dynamics. Based on the framework, three propositions are developed focusing on the mechanisms of resource integration and value co-creation. The implications need to be generalized in future research by studying other empirical contexts.

Practical implications – The chapter provides some tentative guidelines on how organizations can design service systems that enable and support customers and other actors in their resource integration and value co-creation processes by paying attention to social structures and forces and not only resources as such.

Originality – The chapter explicates how social structures have implications for value co-creation and resource integration in service system. It makes systematic use of structuration and practice theory to understand the social dimensions of service systems. A distinction between intended and realized resource integration is made.

This study aims to examine how hospitality consumers of different generations appraise competitive service advantage (CSA) of service providers, based on providers’ business models and value propositions, particularly, how these perceptions influence consumers’ purchase intention, subjective well-being and trust in service provider.

This study used a 3 × 4 between-within online scenario-based experimental design (business models: traditional, collaborative, shared; value propositions: innovation, marketing, service production, recovery) using equal and randomized assignment to experimental conditions. Following equal quota-based randomized sampling, three generations were examined (n = 180): baby boomers, Generation Xers and millennials. Multivariate analysis of variance and PROCESS macro were used to analyze the data.

Hospitality consumers perceived value propositions from providers with different business models inversely based on their perceptions of firms’ CSA, subjective well-being and trust. CSA amplified the outcomes and served a mediating role for purchase intention, subjective well-being and trust. Different outcomes were based on generational cohorts.

Customer perceptions of firm’s unique competitive position should be managed holistically by combining business models, value propositions and generational cohorts to ensure customers’ purchase intention, trust and subjective well-being. CSA should be communicated to customers differently based on generational membership.

This study deepens knowledge of CSA, specifically from the consumer level of analysis. The key contribution is the role of CSA as a mediator for hospitality business models and customer-related outcomes of purchase intention, subjective well-being and trust. This study brings forward consumer subjective well-being as a potential goal for hospitality firms.

The purpose of this paper is to examine the technical and relational value proposition preferences of credit union members and to examine the relationship between their preference and patronage activity.

A total of 800 members of credit unions were surveyed. Exploratory factor analysis was used and four factors were extracted incorporating technical and relational dimensions of the credit union service. Member value proposition preferences are examined and the relationship to patronage activity of the credit union was explored.

The majority of members express a higher or equal preference for a relational rather than a technical value proposition. Those that express a greater or equal preference for relational value are more likely to have a higher level of patronage activity.

Credit unions are member-owned financial institutions and hence the study is context dependent. Credit unions are member-owned financial institutions and hence relational value may be more significant than in the case of non-member owned entities.

The research highlights the importance of consideration of relational value in financial services entities whose competitive advantage lies in the relational. In terms of the credit union, the impact on the relational value proposition of the credit union must be considered in the design and implementation of industry restructuring.

This paper extends the emotional value and interactive quality construct to incorporate a greater relational focus which the paper suggests is of greater relevance to high-contact financial services. The research in this paper also extends beyond the criticised static focus of consumer perceived scales (consumer perceived value) and the episode focused service quality scales. Hence, it has a more longitudinal and holistic focus. The paper also incorporates a preference between benefits approach rather than an evaluative or trade-off between benefits and costs framework.

Technology transfer (TT) in industry to university collaboration (UIC) literature focuses primarily on a macro view within an SME environment. While these discussions are important to establish the significance of encouraging UIC's as the value is important to both parties, there is a need for further research at a micro level to help understand key approaches to ensuring the success of the TT. By looking at how value created from TT for a multi-national corporation (MNC) with a project based within a single subsidiary, this research effectively looks at the issue from both a SME level (the subsidiary independently) and a MNC level.

The research uses a longitudinal knowledge transfer partnership and action research to form a case study of Parker Hannifin's Gas Separation and Filtration Europe, Middle East and Africa (GSFE) division.

The research highlights the key areas to focus on in ensuring a successful TT within an UIC such as: once identifying the gap that a UIC is filling in the company, identifying internal barriers before the project starts; education of why change is necessary and then using knowledge experts to educate on the new processes being introduced and finally; incorporation of a full range of personnel, not just those directly involved in the day-to-day of the UIC.

As a case study, further research is required to make the results more generalisable. One way to do this would be to evaluate previous successful and unsuccessful UIC's and determine if the success criteria identified were present in these programmes.

There are three critical points that can be taken away from this research and applied to any company looking to use UIC for TT and value co-creation. Education, external knowledge experts and business wide inclusion were highlighted in the findings as being potentially critical turning points and need to be addressed for successful TT.

Successful UIC's further encourage investment in such programmes which has greater societal benefits. Not only can we see greater leaps in industry through better, more specific knowledge being transferred from the university, the industry knowledge fed into universities helps to guide research and teachings.

The micro level view created by action research based from the industry partner perspective adds another level of importance as the “how” for overcoming barriers is clearly addressed. Furthermore, the research looks at how a multi-national corporation can have value added through UIC's within subsidiaries which often is not addressed in the literature.

The value proposition concept and the stakeholder perspective have received relatively little attention within Service‐Dominant (S‐D) logic. This paper sets out to explore value propositions in the context of S‐D logic, within the multiple stakeholder domains that form part of a marketing system. Its purpose is to identify how use of the value proposition concept, in this broader context, provides new insight into value creation within a value network.

This paper explores the development of value propositions in key stakeholder market domains. A five‐step process is developed for identifying key stakeholders and co‐creating value propositions for them within a marketing system.

Value propositions have a key role in co‐creation of value between stakeholders. The development of value propositions in multiple stakeholder domains can provide an important mechanism for aligning value within a marketing system.

Stakeholder value propositions provide enhanced opportunities for value co‐creation and can assist managers in aligning value and stabilizing relationships within an organization's value network.

This paper considers a broader view of value through creation of value propositions for key stakeholders. An iterative framework is proposed that couples the stakeholder concept and value co‐creation.

The purpose of this study is to investigate how the internet of things (IoT) contributes to manufacturers' advanced services development and delivery. To better understand the creation of these IoT contributions, the study adopts a socio-technical research perspective, which expands the scope of the investigation and integrates the technological, information and social factors that enable these IoT contributions.

A multiple-case research method was employed to investigate the IoT contribution scenarios of 15 manufacturers who offer advanced services and to examine their dependence on other non-IoT factors, using thematic analysis.

The analysis identified five advanced services value propositions, which are enabled by nine “IoT-enabled information systems (IS) artefacts” that specify the distinct interactions between the technological, information and social subsystems supporting the manufacturers' advanced services value propositions.

The study advances the servitisation research by demonstrating that IoT technology on its own is insufficient for the creation of the IoT contributions. It shows, instead, the need for close interactions with a diverse range of other factors, which are often not considered when developing an IoT strategy. The study also introduces the IS artefact notion as a unit of analysis that constitutes an alternative to the commonly adopted techno-centric perspective used to conceptualise IoT contributions. The study and its findings add to the development of a socio-technical perspective on the IoT in advanced services and thereby suggests a number of theoretical and practical implications.

This paper aims to study front-line employees’ contribution to service innovation, when they contribute and how they are involved in service innovation.

The paper draws on a multiple-case study on service innovation in four organizations with extensive front-line employee involvement. The main data collection methods are interviews and observations.

The paper suggests that front-line employees contribute customer knowledge, product knowledge and practice knowledge during five phases of the service innovation process – project formation, idea generation, service design, testing and implementation – and that front-line employee involvement ranges from active to passive.

Statistical generalization of the results is needed.

The paper reveals that early and active front-line employee involvement in the service innovation process creates conditions for a positive contribution to service innovation.

The paper suggests that early and active knowledge contributions by front-line employees to the service innovation process are associated with the creation of attractive value propositions.

The purpose of this paper is to explore the dynamic process of multi-actor engagement by examining how it evolves and spreads in actor networks. The authors challenge the dyadic perspective adopted by previous research.

An abductive theorizing approach uses a longitudinal case study to develop a theoretical framework of the iterative process of multi-actor engagement. The authors draw on the contemporary literature on engagement, service-dominant logic and value propositions.

The research shows that engagement conditions, via actors’ appraisals, lead to engagement properties and result in engagement outcomes as the new conditions for the next iteration. Changes within this multi-actor engagement process lead the network to evolve over time.

The authors highlight the importance of adopting a dynamic multi-actor perspective of engagement and provide foundations for further research. The use of longitudinal methods that focus on the groups of actors in the evolving network is a key consideration.

There is the need to understand and measure the dynamic process of engagement among different groups of actors within networks in the service context.

This is the first empirical study to explore the dynamics of engagement among multiple actors in the network. This leads to the expansion of Storbacka et al.’s (2016) conceptual work by identifying the iterative nature of the multi-actor engagement process, and new components in the process (i.e. actors’ connections, value propositions and engagement outcomes), as well as clarifying existing ones (e.g. engagement properties and actors’ appraisals).

The purpose of this paper is to present a visualisation of the firm's offering from a service‐dominant logic (S‐DLogic) perspective. The case of Rolls‐Royce is presented as an avenue through which to explore an alternative view of the firm's value proposition, a visualisation informed by S‐DLogic that could aid organisations in their transition from goods‐dominant logic (G‐DLogic) to S‐DLogic.

Through integration of an operations management approach in process mapping and design and simulation with choice modelling in business‐to‐business marketing, this paper operationalises some of the key aspects of S‐DLogic, most notably focusing on the constructs of value and resources. This is explored through a single case; Rolls‐Royce which provides access to a rich source of internal and customer data.

The study finds that the S‐DLogic visualisation of the firm's value proposition in equipment‐based service consists of its contribution to 11 value‐creating activities towards value‐in‐use. The visualisation depicts both the highest possible bundle of benefits for the customer along with the resources and their costs associated with delivering those bundles. When brought together these enable the identification of the optimal bundle of value‐creating activities from both customer and firms' perspective.

This paper provides empirical evidence of the difference between a G‐DLogic and S‐DLogic view of the firm's value proposition. In doing so, extending existing literature on S‐DLogic by contributing to a methodological and empirical gap. Notably, it makes abstract concepts of S‐DLogic concrete, providing a pathway for future empirical work and begins the process of systematising a methodology in S‐DLogic.