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The paper seeks to provide a theoretical contribution to the current phase of the knowledge creation theory of knowledge management (KM) by addressing the need for a paradigm shift and having more ontological and epistemological discussions.

The proposed “becoming to know” framework builds on the KM literature review and on the study of learning, knowing and becoming concepts from several perspectives. Both conceptual and empirical research papers contribute to the framework.

The paper presents the challenges of KM; it identifies five phases of the knowledge creation theory development through 1995‐2008; it summarizes the main criticism against the theory; and it proposes the “becoming epistemology” concept and the “becoming to know” framework. The main elements of this framework are: engaging, exploring, experiencing, emerging, enabling and evolving.

Study of the KM literature reveals several other challenges that are not addressed here and could provide opportunities for researchers. The paper calls for more discussions regarding the paradigm shift and for more attention to the participative research paradigm, as well as action and case study research in KM.

Drawing on the participative paradigm, epistemology of practice, extended epistemology, transformative teleology, becoming ontology and on concepts of learning, knowing, and becoming, the proposed framework illustrates the dynamic, iterative, interactive interplay and evolution of ontological and epistemological knowledge creation spirals that is the essence of the knowledge creation theory.

The purpose of this paper is to frame innovation as a process of co‐creation according to a practice‐based view.

The paper focuses on the innovation practices that occurred within the web contexts of ten companies. In accordance with netnography research, data include preliminary studies of the web‐based context, naturalistic observations of the community and the activities of its members, and direct interactions with the members of the innovating community.

This work proposes the integration of innovation, practice and the emerging co‐creation research. The paper develops the five “Co‐s” model including: co‐ideation, co‐valuation, co‐design, co‐test and co‐launch. Each “Co‐“ represents a phase of the innovation process resulting from dynamic and on‐going interactions among resources, actions, and a group of actors who are interrelated via a dense network. Within each “Co‐“, the authors identify practices and elements of practices.

A firm's managers should influence co‐creation opportunities by contributing to script practices. These managers should be able to consider more clearly the full options of co‐creation activities and be involved in designing and responding to co‐creation initiatives. They should also understand that each phase could provide an opportunity for collaboration that enhances the value of co‐creation. In this manner, managers could orchestrate multiple resources (e.g., actors, actions tools and output language).

This work brings innovation into the realm of practice by moving the focus from the outcome to the process –, i.e. from innovation as a new artefact to the act of innovating. In this context, innovating is the system of on‐going co‐creation practices performed by people who merge knowledge, actions, tools, languages and artefacts to create something new and better. In this view, innovators are carriers of practices.

This paper aims to highlight four features of value co-creation among actors in a business-to-business environment. Service-dominant (S-D) logic of marketing is used as a theoretical lens to view at the process of value co-creation.

Using an interpretive methodological approach, the authors collected empirical material from a single case based in New Zealand. The case was based on the collaboration, interaction and relationship between vendor and client during an information and communication technology (ICT) systems integration project. The unit of analysis was “points of value creation.” Empirical material came from observation, in-depth interviews and documents such as meeting notes and email logs. Interpretation highlighted four features of the value co-creation process: motivators, outcomes, disadvantages and management. Moreover, personal and network aspects of value co-creation process emerged.

The findings of this study capture benefits, as well as conflicts and frustrations, in a value co-creation process. Furthermore, it provides future research motivations for researchers currently working to develop S-D logic of marketing.

It is suggested that there is relatively little direction on how value co-creation process should be undertaken in different contexts such as retail, education, health care and ICT. There is a need to understand the dynamics and specification of value co-creation process, as the literature is scarce in this field.

Bank lending is the major source of monetary expansion. Bank-led money creation is a key issue in both conventional and Islamic financial systems. The purpose of this paper is to examine the issues related to Islamic banking money creation. In this conceptual paper, the authors investigate the involvement of profit and loss sharing (PLS) in money creation and especially how can PLS limit money creation “out of nothing.” In this regard, the authors examine the potential of the PLS principle in tackling the excessive money creation phenomenon.

This study uses a normative approach regarding Islamic bank money creation that fits Sharia directives. In fact, this study discusses “what ought to be,” that is, the values and norms of PLS money creation that impede excessive money creation.

Overall, Islamic banks create money differently compared to conventional ones. Especially, by avoiding a purely financial intermediary, money creation under the PLS principle sustains a strong relationship with the real economy and leads to a lower money multiplier. Therefore, PLS mechanisms allow financing through real assets and not credit assets “out of nothing.” This could prevent excessive money creation from causing harmful effects on indebtedness and financial instability.

PLS offers a valuable resolution for banking system money creation through the optimization of Islamic bank financing by facilitating the separation of the monetary function from the credit one. This reform thought reinforces the stability value of money allowing it to fully perform its functions with reference to the directives of Sharia. This especially allows the integrity and purchasing power of money, the reduction of the gap between the evolution of both real and financial economies and, consequently, the indebtedness and crisis. It is recommended to promote PLS financing by reforming institutional and regulatory constraints.

This study addresses the contemporary issue of money creation by Islamic banks through the PLS approach. The conceptual framework of this paper highlights the reformist role of PLS in limiting money creation through Mudarabah approach within fractional reserve banking.

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 second part of Strategy & Leadership's interview with Prof. Venkat Ramaswamy, one of the early proponents of co-creating value with stakeholders, asks him about the progress of the “co-creation transformation” of markets on its tenth anniversary and its wider implications for firm strategists and public policy makers. The interview concludes with a remembrance of the late C.K. Prahalad, a co-developer of the theory, and reviews his many contributions to the advancement of strategic management.

This interview considers how the co-creation view starts with interactions as the locus of value and platforms of engagements with individuals as the locus of value creation.

The co-creation paradigm is a dynamic perspective that sees the interaction of customers, employees and other stakeholders as forums for learning and ever-expanding capability building.

Strategy as “stretch and leverage” in the world of co-creation becomes about joint aspirations>joint resources.

Corporate managers need to understand that leading companies that have successfully adopted the co-creation model follow a simple principle – they focus their entire organization on the engagements with individuals.

This paper aims to build and empirically test a multilevel framework integrating transaction cost economics and a resource-based view into a value co-creation ecosystem perspective to explain the chain- and firm-level effects of transaction-specific investments (TSIs) on supplier performance.

This paper investigates cross-level network effects using survey data from the List of Taiwanese Central Satellite Production Systems. A total of 34 buyers (hub firms) and 106 suppliers (satellite firms) from 34 supply chains responded to the survey.

Findings confirm that individual firms’ TSIs can foster co-specificity at the supply chain level, thereby improving supply chain integration (SCI). SCI can have a positive cross-level moderating effect on the TSI–performance relationship.

These two key concepts, value co-creation and co-specificity, extend the theoretical application of transaction cost theory and the resource-based view to cross-level study by contributing to the research on the TSI–performance relationship.

This study’s framework is a counter to the buyer–supplier–supplier relationships in which each actor who may have different goals can create value jointly and share benefits from their TSIs.

Owing to high co-specificity, being embedded in a well-integrated supply chain can be a threat when the environment is turbulent; for losing strategic flexibility, co-specificity and embeddedness may result in a collective adaptation concern. High degrees of SCI may slow the reaction to environmental turbulence for both buyers and suppliers.

Individual firms’ TSIs can foster co-specificity at the supply chain level, subsequently enhancing SCI. An integrated supply chain can be a collective asset that facilitates value co-creation. Individual firms can benefit from the sharing of collective value. SCI can also increase switching costs, thus reducing the likelihood of individual firm engaging in opportunistic behavior and cost safeguarding.

It is argued that the service-dominant (S-D) view of the value co-creation concept is mainly of a macro nature and is difficult to examine empirically. In this regard, marketing research using the micro-foundation theory proposes some conceptual models, through which relationships (involving value co-creation) at a micro/meso level may be studied. The purpose of this paper is to add to such exchanges regarding value co-creation and conceptualize the link of embeddedness of an actor (in a service-ecosystem) to their engagement in the value co-creation process.

The authors draw on the S-D logic and the value co-creation concept and make propositions with regard to two micro-foundational concepts: actor engagement and actor embeddedness.

The authors show that actor embeddedness can be considered as an antecedent of actor engagement, which leads to value co-creation at a macro level and perceived value in context at the micro level.

The authors fill some gaps in literature with regard to S-D logic and value co-creation by combining two micro-foundational concepts: actor engagement and actor embeddedness and propose how through these, some macro-level outcomes such as value co-creation and resource integration may be determined.

This study examines the influence of context on Taiwanese senior managers' corporate social responsibility (CSR) decisions. The study seeks to identify the current profiles of managerial CSR perspectives and organizational CSR investments in Taiwan. In particular, whether a non-Friedman perspective is more prevalent than a Friedman perspective and whether community-related CSR is more prevalent than other CSR practices in Taiwan remain unclear. The study also seeks to identify the relationship between managers' CSR perspective profiles and organizational CSR investment profiles in Taiwan.

The sample was selected from the Taiwanese top companies list. Altogether, 150 valid responses from senior managers of 150 companies were returned.

The reported evidence shows that senior managers' Friedman/non-Friedman CSR perspective has a great influence in directing a firm's CSR decision in Taiwan. Managers holding the Friedman perspective are slightly more than those holding the non-Friedman CSR perspective, but both perspectives are popular. There is a tendency for firms to make either more or less investments in all CSR dimensions. A Friedman perspective tends to be associated with low CSR investments, and a non-Friedman perspective tends to be associated with high CSR investments.

A major contribution of this study is to offer a different perspective from the Western view regarding CSR implementation in a Chinese-dominant culture society. The study extends the upper echelon theory that managerial CSR perspectives can be a driver of a firm's CSR decision-making. The study also offers further evidence for the institutional theory that CSR is contextually dependent.

This paper focuses on the “how” of business analytics (BA) value creation, which remains an open research problem and a practical challenge. The main purpose of this paper is to propose a novel BA value creation mechanism that is BA-enabled improvement of Knowledge-intensive Business Processes (KIBPs), with experiential knowledge of decision makers as the key to a more sustainable BA-enabled competitive differentiation.

This research uses a qualitative research case study, conducted in a large retail distribution company. The research insights were observed through a combined lens of work systems theory and the knowledge-based view (KBV) of the firm, using an interpretive approach.

The proposed theoretical model identifies three stages of KIBP improvement through BA and explains how they lead to a sustainable BA-enabled competitive differentiation. Stage 1 focusses on BA support for individual knowledge-intensive tasks, Stage 2 focusses on individual decision makers and their ability to gain KIBP-related analytical insights and turn them into action; and Stage 3 on sharing of the acquired experiential knowledge amongst decision makers using BA.

In addition to proposing a novel mechanism for BA value creation, this research demonstrates the importance of leveraging experiential knowledge of decision makers as a pathway to a more sustainable competitive differentiation through BA. This, in turn, creates new opportunities for knowledge management researchers to engage in BA-related research. It also opens a new approach for BA researchers to investigate BA value creation mechanisms through the lens of KBV, rather than more common resource-based or capability-based views.