Value Co-Creation

Topics: Innovation, New product development, Management Pages: 13 (3916 words) Published: July 2, 2013
Silvia Garrido Ramirez Nº 5597 Master subject: Product &Service Management Professor: Jo ão Pereira 1

INDEX

Pages

I. Introduction…………………………………………………………………………… 3 - 4 a. Identify the work being criticized……………………………………………………. 3 b. Thesis’ presentation………………………………………………………………….. 3 c. Preview of the argument…………………………………………………………….. 3 -4

II. Short summary of the work………………………………………………………. 4 - 5

III. Argument (mini theses)…………………………………………………………. . 5 - 11

IV. Conclusion………………………………………………………………………….. 12

IIV. Bibliography…………………………………………………………………........ 12- 13

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a. Identify the work being criticized Nowadays, firms are adopting a new tendency about creating new value. Apart from, adding value to the enterprise itself, they add value at the same time to a new product or service. There is a rise of the importance on this concept because all of the benefits that offers. However, so as to take advantage of it, it is required a correct management of the co-creation performance process. Moreover, the interactions of users, suppliers and consumers in this process are significant to be executed in a good manner. b. Thesis presentation Analyzing the co-creation field, it can be ascertained that the management process plays a fundamental role that must be well supported and guided trough the effectiveness performance, in order to obtain a successful and adequate superior cocreation of value. c. Preview of your argument. So as to prove and give the right consistency about this thesis, already mentioned above. It is going to be necessary to examine and dive into the main points that have been crucial to develop the argument. Firstly, the concept of co-creation of value has been the mainstay which has been approaching a deep study of its meaning, its dimensions, its involvement, trends, perspectives and implications. These have been used as bases for the beginning of the argument. However, not only the fact of study the co-creation theme is enough. We need also the comprehension and understanding of every broader issue. For instance, its processes, its framework, management and performance activities, etc. Therefore, the management concept will be thoroughly examined underlying the importance of “being on the ball” to take advantage of the opportunities for creating a competitive advantage through a reasonable framework based on processes. In this point, we also cite the crucial paper that consumers, suppliers or users possess, because their implications are vital for the good co-creation performance. They must be enough motivated, openminded and willing to demonstrate their best conferrals to the company. Furthermore, how can we contribute to create an effective and successful performance? Through the means of generating and evaluating new product and 3

services ideas. Sometimes, it will even occur that the performance stage could happen on virtual world too. Serving like a good example for the possible future innovation ideas. Finally, a global overview of all these points is essential for the development of the argument. Nevertheless, it also requires a submersion in each aspect and a connection among them to fully understand the content.

II. Short summary of the work

In this section, we present an outline that later on will be employed in order to understand the main argument. Co-creation can be perceived as a way of interacting people to conceive more value together through new interesting ideas. Positive results like profits, revenues, etc; depend on the degree of market acceptance. Co-creation also evolutes it engage people and an innovative company, creating possibilities of new innovative attributes. For instance, an executive process full of interactions, a management procedure or a business model, a product or a service would be the diverse aspects of innovation. One of the good things about open innovation is that anyone can benefit from its value if they participate in the innovation. Because...

Bibliography: Bogers, M., Afuah, a., & Bastian, B. (2010). Users as Innovators: A Review, Critique, and Future Research Directions. Journal of Management, 36(4), 857– 875. doi:10.1177/0149206309353944 Echtelt, F. E. A. Van, Wynstra, F., Weele, A. J. Van, & Duysters, G. (2006). Managing Supplier Involvement in New Product Development : A Multiple-Case Study REPORT SERIES, (August 2006). Gassmann, O., Enkel, E., & Chesbrough, H. (2010). The future of open innovation. R&D Management, 40(3), 213–221. doi:10.1111/j.14679310.2010.00605.x 12
Hoyer, W. D., Chandy, R., Dorotic, M., Krafft, M., & Singh, S. S. (2010). Consumer Cocreation in New Product Development. Journal of Service Research, 13(3), 283–296. doi:10.1177/1094670510375604 Paper, C. A. (2007). How to Write a Critical Analysis Paper, 1(17). Payne, A. F., Storbacka, K., & Frow, P. (2007). Managing the co-creation of value. Journal of the Academy of Marketing Science, 36(1), 83–96. doi:10.1007/s11747007-0070-0 Ragatz, G. (1997). Success factors for integrating suppliers into new product development. Journal of product …. Retrieved from http://onlinelibrary.wiley.com/doi/10.1111/1540-5885.1430190/abstract Science, P., Writing, J., Union, S., America, L., Western, I., Analyzing, C., & Article, A. (2003). Writing Critical Analysis Papers 1. Soukhoroukova, A., Spann, M., & Skiera, B. (2012). Sourcing, Filtering, and Evaluating New Product Ideas: An Empirical Exploration of the Performance of Idea Markets. Journal of Product Innovation Management, 29(1), 100–112. doi:10.1111/j.1540-5885.2011.00881.x
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