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Open Access
Article
Publication date: 22 September 2021

Michele Pinelli, Christian Lechner, Sascha Kraus and Eric Liguori

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…

3835

Abstract

Purpose

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.

Design/methodology/approach

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

Findings

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

Originality/value

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.

Details

Journal of Small Business and Enterprise Development, vol. 29 no. 2
Type: Research Article
ISSN: 1462-6004

Keywords

Open Access
Article
Publication date: 9 March 2021

Ana Kustrak Korper, Stefan Holmlid and Lia Patrício

The purpose of this paper is to introduce the concept of meaning as a relevant but missing link in understanding the building blocks of service innovation informed by…

3273

Abstract

Purpose

The purpose of this paper is to introduce the concept of meaning as a relevant but missing link in understanding the building blocks of service innovation informed by service-dominant (S-D) logic. In exploring the role of meaning in service innovation, especially related to new value propositions, resource integration and new value cocreation, the authors suggest using the conceptualization of meaning within human-centered design, which has an established body of knowledge on addressing how actors engage and interact.

Design/methodology/approach

The paper builds an actionable conceptual framework that relates meaning to central tenets of service innovation, such as resource integration, value propositions and cocreation of value. It delineates the central building blocks of service innovation and conceptually integrates them with meaning to explain the underlying mechanisms of service innovation related both to its development and adoption.

Findings

The findings highlight how and why meaning precedes value creation and directs resource integration. Indicating that meaning is driven by experience of earlier interactions it delineates its relationships with new value formation and positions resource interpretation as a driver of this process.

Originality/value

This paper extends the understanding of service innovation in relation to S-D logic, with meaning as a conceptual link to aspects of S-D logic that claim a phenomenological nature. Meaning contributes to S-D logic by providing an understanding of how beneficiaries form intentions to engage in value creation and resource integration. Additionally, by integrating service and design research domains, this paper suggests possibilities for multidisciplinary contributions in future research.

Details

Journal of Service Theory and Practice, vol. 32 no. 2
Type: Research Article
ISSN: 2055-6225

Keywords

Open Access
Article
Publication date: 21 July 2023

Kari-Pekka Tampio, Harri Haapasalo and Jere Lehtinen

The research problem in this study is how a client (as a project owner) should organise early stakeholder involvement and integration in the front-end phase of a project. This…

Abstract

Purpose

The research problem in this study is how a client (as a project owner) should organise early stakeholder involvement and integration in the front-end phase of a project. This study aims to create normative managerial statements as propositions from the client's perspective and to combine them into a set of activities enabling efficient organisation in the front-end phase of a hospital construction project.

Design/methodology/approach

Action design research (ADR) was carried out in a large hospital construction project where the first author acted as an “involved researcher” and the other authors acted as “outside researchers”.

Findings

The authors created seven normative managerial propositions that were verified by the case project stakeholders and developed a managerial framework describing the client's essential stakeholder involvement and integration activities in the front-end phase of a hospital construction project based on these propositions. The authors have also depicted the subphases of the front-end phase: value definition phase in the client permanent organisation, value proposition phase in the client Programme Management Office (PMO) and finally development phase in the alliance organisation ending on the final investment decision.

Practical implications

The collaborative contract delivery model enables the early involvement and integration of stakeholders. It has been somewhat surprising to note the extent to which collaborative contracts change the client role in the project front-end. The results offer practical activities for how clients can manage front-end activities in collaborative contracts.

Originality/value

The case project offered a platform to analyse how the collaborative contract delivery model changes the emphasis of activities in the front-end of a project. One of the key benefits of collaborative contracts is that development, design and delivery occur partially in parallel, thereby enabling contributions from production to be included in the design and development. The benefit of having a real-life case under study provides the possibility to triangulate and analyse rich data, however limited by the qualitative case method.

Details

International Journal of Managing Projects in Business, vol. 16 no. 8
Type: Research Article
ISSN: 1753-8378

Keywords

Open Access
Article
Publication date: 30 August 2023

Christoffer Weland Johannes Lindström, Behzad Maleki Vishkaei and Pietro De Giovanni

This study analyzes how tech firms can implement the modern wave of subscription-based business model (SBBM), including value proposition, value creation, value capture and…

3748

Abstract

Purpose

This study analyzes how tech firms can implement the modern wave of subscription-based business model (SBBM), including value proposition, value creation, value capture and performance. In fact, these elements push tech firms to move from traditional to SBBMs.

Design/methodology/approach

To achieve the objectives of this study, we initially construct a theoretical framework for applying SBBM. Subsequently, we employ qualitative research to examine the current implementation of the subscription-based economy within tech firms.

Findings

A successful SBBM necessitates capturing value through sustainable revenue transactions and revising aspects of the value proposition, creation and capture. Continuous improvement through business value analysis is imperative. Additionally, an agile operations system is vital to address revenue complexities, enable data collection and enhance value proposition, service innovation, churn rate and customer retention, which are essential for SBBM maintenance.

Originality/value

This study delves into how the subscription-based economy is reshaping the business models of tech firms. Beyond exploring the theoretical foundation of this transformative path, this study offers actionable insights on enhancing the value proposition, creation, capture and business value within subscription-based economy frameworks.

Details

International Journal of Industrial Engineering and Operations Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2690-6090

Keywords

Open Access
Article
Publication date: 1 June 2021

Yihua Chen, Ivanka Visnjic, Vinit Parida and Zhengang Zhang

The authors seek to understand the process of digital servitization as a shift of manufacturing companies from the provision of standard products and services to smart solutions…

9905

Abstract

Purpose

The authors seek to understand the process of digital servitization as a shift of manufacturing companies from the provision of standard products and services to smart solutions. Specifically, the authors focus on changes in the business model (i.e. the value proposition, the value delivery system and the value capture mechanism) for digital servitization.

Design/methodology/approach

The authors examine a Chinese air conditioner manufacturer, Gree, who became the global leader with their smart solutions. These solutions included performance-based contracts underpinned by artificial intelligence (AI)-powered air conditioners that automatically adjust to environmental changes and are capable of remote monitoring and servicing thanks to its Internet of things (IoT) technology.

Findings

To successfully offer smart solution value propositions, a manufacturer needs an ecosystem value delivery system composed of suppliers, distributors, partners and customers. Once the ecosystem relationships are well aligned, the manufacturer gains value with multiple value capture mechanisms (i.e. efficiency, accountability, shared customer value and novelty). To arrive at this point, a manufacturer has to pass through different stages that are characterized by both discontinuous and continuous interplay between business models and digital technologies. At the beginning of each stage, new value propositions and value delivery systems are first discontinuously created and then enabled with digital technology. As a result, new value capture mechanisms are activated. Meanwhile, the elements of the existing business model are continuously improved.

Research limitations/implications

By combining process-perspective and business-model lenses, the authors offer nuanced insights into how digital servitization unfolds.

Practical implications

Executives can obtain insights into the business model elements, they need to change over the course of digital servitization and how to manage the process.

Originality/value

A longitudinal case study of a traditional manufacturer that has achieved stellar success through digital servitization business models development.

Details

International Journal of Operations & Production Management, vol. 41 no. 5
Type: Research Article
ISSN: 0144-3577

Keywords

Open Access
Article
Publication date: 18 June 2019

Martina Čaić, Dominik Mahr and Gaby Oderkerken-Schröder

The technological revolution in the service sector is radically changing the ways in which and with whom consumers co-create value. This conceptual paper considers social robots…

15449

Abstract

Purpose

The technological revolution in the service sector is radically changing the ways in which and with whom consumers co-create value. This conceptual paper considers social robots in elderly care services and outlines ways in which their human-like affect and cognition influence users’ social perceptions and anticipations of robots’ value co-creation or co-destruction potential. A future research agenda offers relevant, conceptually robust directions for stimulating the advancement of knowledge and understanding in this nascent field.

Design/methodology/approach

Drawing from service, robotics and social cognition research, this paper develops a conceptual understanding of the value co-creation/destruction potential of social robots in services.

Findings

Three theoretical propositions construct an iterative framework of users’ evaluations of social robots in services. First, social robots offer users value propositions leveraging affective and cognitive resources. Second, users’ personal values become salient through interactions with social robots’ affective and cognitive resources. Third, users evaluate social robots’ value co-creation/destruction potential according to social cognition dimensions.

Originality/value

Social robots in services are an emerging topic in service research and hold promising implications for organizations and users. This relevant, conceptually robust framework advances scholarly understanding of their opportunities and pitfalls for realizing value. This study also identifies guidelines for service managers for designing and introducing social robots into complex service environments.

Details

Journal of Services Marketing, vol. 33 no. 4
Type: Research Article
ISSN: 0887-6045

Keywords

Open Access
Article
Publication date: 16 August 2022

Theresia Harrer and Robyn Owen

The purpose of this paper is to explore why, despite the development of a hybrid investing logic, funding problems are so persistent for early-stage Cleantech ventures…

1398

Abstract

Purpose

The purpose of this paper is to explore why, despite the development of a hybrid investing logic, funding problems are so persistent for early-stage Cleantech ventures (“Cleantechs”). An institutional logics lens is adopted to analyze how key actors' perceptions and communications of the Cleantech value proposition shape information asymmetries (IAs).

Design/methodology/approach

A mixed methods approach draws on 82 Cleantech pitch decks and 31 investment guidance documents, and insights from interviews with 42 key informants and nine Cleantech CEOs and their investors.

Findings

IAs persist, first of all, because key investor and entrepreneurial actors combine different goals in the hybrid Cleantech value proposition. Interestingly, the analysis of Environmental Performance Indicators (EPIs) as a critical communication tool reveals a further mismatch in how actors actually combine logics. The authors ultimately identify three emergent actor roles – traditional laggard, developer and boundary spanner – that present a framework of how the three most influential actor groups develop EPIs and via that a hybrid Cleantech financing logic to overcome IAs.

Originality/value

The paper enhances the entrepreneurial finance literature primarily by showing that in contexts of hybrid investing a more nuanced understanding of institutional logics in terms of ends and means is critical to overcome IAs. While prior works highlight goal incompatibilities, the findings here suggest that the (in-)compatibility of goals as well as EPI choices of the same actors is likely to be the key explanandum for the stickiness of IAs and the funding gap. The novel emerging role framework offers additional theoretical, policy and practical advances for hybrid logic development.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 9
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 18 March 2021

Ernesto Tavoletti, Niloofar Kazemargi, Corrado Cerruti, Cecilia Grieco and Andrea Appolloni

This paper contains an exploratory analysis of the business model innovations (BMIs) that management consulting firms (MCFs) undertake to remain competitive during digital…

17816

Abstract

Purpose

This paper contains an exploratory analysis of the business model innovations (BMIs) that management consulting firms (MCFs) undertake to remain competitive during digital transformation.

Design/methodology/approach

This paper uses data from a longitudinal multiple case study of the European practices of major global MCFs to provide an overview of how they reconfigure their business model (BM) to gain competitive advantages. It maps BMIs in MCFs through value creation innovation, value proposition innovation and value capturing innovation.

Findings

There is a shift in value proposition from solely giving advice or supporting information technology (IT) implementation to providing end-to-end digital solutions. To materialize value propositions, MCFs acquire new knowledge and digital assets through talent scouting, and mergers and acquisitions (M&As). MCFs rely heavily on complementary knowledge and capabilities of actors within ecosystems; thus, they focus on expanding, creating their ecosystems and adopting platforms' configuration and characteristics.

Research limitations/implications

Inductively, the authors reached an analytical generalization through six propositions and a theoretical frame that embeds propositions in the previous literature. Future research should test them across the overall management consulting industry.

Practical implications

MCFs are recognized as drivers of innovation and BMIs in most client firms. However, MCFs are rarely analyzed with respect to their BMIs. Understanding how MCFs innovate their business models (BMs) to provide digital transformation (DT) consulting services is relevant for delivering management innovation across industries.

Originality/value

This is the first exploratory study on BMI inside global MCFs during DT.

Details

European Journal of Innovation Management, vol. 25 no. 6
Type: Research Article
ISSN: 1460-1060

Keywords

Open Access
Article
Publication date: 18 February 2022

Tiziana Russo-Spena, Marco Tregua, Anna D'Auria and Francesco Bifulco

The paper offers a comprehensive understanding of how digital transformation affects business models and how firms operate and compete effectively and successfully in a digital…

3768

Abstract

Purpose

The paper offers a comprehensive understanding of how digital transformation affects business models and how firms operate and compete effectively and successfully in a digital economy.

Design/methodology/approach

The research adopted an abductive approach (Dubois and Gadde, 2002) through constant movement between theory and empirical evidence. A systematic literature review led the first conceptual development and examples of practices from cultural heritage sectors were used in the theorizing process.

Findings

This paper depicts a digital model framework through a set of assumptions about how an organization creates and delivers value in an interconnected way by orchestrating new interactive processes, and providing experience propositions to customers, and about how value is framed in terms of economic, social and cultural outcomes.

Originality/value

The study contributes to the scientific debate by discussing the role of digital business models as enhancements more rather than replacements of traditional business models; it frames a digital business model as consisting of three main pillars: value orchestration, experience propositions and value sharing.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 8
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 25 August 2021

Salvatore Ammirato, Alberto Michele Felicetti, Roberto Linzalone and Daniela Carlucci

Digitalization had a relevant impact on the cultural tourism sector, both demand and supply. If, on the one hand, advances in digital technologies provided tourists with new…

7734

Abstract

Purpose

Digitalization had a relevant impact on the cultural tourism sector, both demand and supply. If, on the one hand, advances in digital technologies provided tourists with new mobile services able to amplify the cultural experience, on the other hand, they catalyzed the development of new business models by digital enterprises. This paper has a twofold purpose: to detect business models and key characteristics of mobile apps for cultural tourism and to analyze the offering of app-based services in this sector.

Design/methodology/approach

The authors defined a methodology to identify, characterize and analyze a particular category of digital products for cultural tourism: app-based services. They are studied in terms of value creation, proposition and capture with the aim to identify the distinctive features of business models. As a result, the authors identified a classification framework on three main dimensions, namely “how to exploit mobile app features to create value for cultural tourists” (value creation), “which valuable services are delivered to cultural tourists” (value proposition) and “how companies are rewarded for the value they offered” (value capture). The authors apply the framework to perform a situation analysis of app-based services in the cultural tourism market.

Findings

The analysis highlights that digital enterprises offering app-based services do not fully exploit advances in technologies about users' value requirements. Hence, the results of our work suggest some directions that digital enterprises may follow to better exploit mobile app technology.

Originality/value

To date, little research has been devoted to investigating cultural tourism business models involving the exploitation of mobile app-based services. This research provides a useful framework to analyze fundamental aspects of business models in this sector. Such a framework represents a practical tool that provides fruitful insights for the design of a new generation of app-based services within the so-called “Internet of things” domain.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 8
Type: Research Article
ISSN: 1355-2554

Keywords

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