Skip to main content

Dynamic Capabilities and Value Co-Creation in Low-Tech Knowledge-Intensive Entrepreneurial Ventures

  • Chapter
Book cover Entrepreneurial Challenges in the 21st Century

Abstract

Value co-creation (VCC) has been gaining increasing attention among scholars and practitioners as an overarching concept that describes collaboration between multiple stakeholders, be it companies, consumers, employees or other involved organizations (Nenonen and Storbacka, 2010). Fueled by Vargo and Lusch’s (2004) influential work on a co-creative service-dominant logic (SDL) of marketing, VCC appears to be an emerging innovation, marketing and business paradigm, which has recently turned to a growing area of literature.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 89.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 119.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Al-Aali, A. and Teece, D. J. (2014) “International entrepreneurship and the theory of the (long-lived) international firm: a capabilities perspective”, Entrepreneurship: Theory and Practice, 38(1), 95–116.

    Google Scholar 

  • Albors-Garrigos, J., Hervas-Oliver, J., and Marquez, P. (2009) “Internet and mature industries. Its role in the creation of value in the supply chain. The case of tile ceramic manufacturers and distributors in Spain”, International Journal of Information Management, 29(6), 476–482.

    Article  Google Scholar 

  • Chew, E. (2013) “Value Co-Creation in the Organizations of the Future”, In Semmelrock-Picej, M. T. and Novak, A. (eds), Proceedings for the 9th European Conference on Management Leadership and Governance: ECMLG 2013. Reading, UK: Academic Conferences and Publishing International Limited, 16.

    Google Scholar 

  • Dubois, L. E., Le Masson, P., Weil, B., and Cohendet, P. (2014) From organizing for innovation to innovating for organization: how co-design fosters change in organizations”. International Association of Strategic Management. Rennes, France.

    Google Scholar 

  • Eisenhardt K. M. (1989) Building theories from case study research. Academy of Management Review 14, 532–550.

    Google Scholar 

  • Eisenhardt, K. M, and Martin, J. A. (2000) “Dynamic capabilities: What are they?” Strategic Management Journal, 21, 1105–1121.

    Article  Google Scholar 

  • Fiore, A. M., Lee, S. E. and Kunz, G. (2004) “Individual Differences, Motivations, and Willingness to Use a Mass Customization Option for Fashion Products”, European Journal of Marketing, 38(7), 148–164.

    Article  Google Scholar 

  • Gebauer, H., Paiola, M., and Saccani, N. (2013) “Characterizing service networks for moving from products to solutions”, Industrial Marketing Management, 42(1), 31–46.

    Article  Google Scholar 

  • Gummesson E. (2008) “Extending the New Dominant Logic: From Customer Centricity to Balanced Centricity”, The Journal of the Academy of Marketing Science 36(1), 15–17.

    Article  Google Scholar 

  • Haider A., Eder, A. (2010) “Markets, Applications, and Processes for Wood Polymer Composites (WPC) in Europe”, Presented at 1st International Conference on Processing Technologies for the Forest and Bio-based Products Industries, http://conference.fh-salzburg.ac.at/fileadmin/files/documents/Presentations/4B Haider.pdf [accessed on 11 April 2011].

  • Heidenreich, Martin (2009) “The Open Method of Coordination: A Pathway to the Gradual Transformation of National Employment and Welfare Regimes?” In Heidenreich, M. and Zeitlin, J. (eds), Changing European Employment and Welfare Regimes: The Influence of the Open Method of Coordination on National Reforms. New York: Routledge, 10–36.

    Google Scholar 

  • Helfat, C. E., Finkelstein, S., Mitchell, W., Peteraf, M. A., Singh, H., Teece, D. J. and Winter, S. G. (2007) Dynamic Capabilities: Understanding Strategic Change in Organization, Maiden, MA: Blackwell.

    Google Scholar 

  • Hirsch-Kreinsen, H. and Schwinge, I. (2011) “Knowledge-Intensive Entrepreneurship in Low-Tech Sectors”, DRUID Conference, Copenhagen Business School, Denmark, June 15–17.

    Google Scholar 

  • Ireland, R. D., Hitt, M. A., and Sirmon, D. G. (2003) “A model of strategic entrepreneurship: The construct and its dimensions”, Journal of Management, 29, 963–989.

    Article  Google Scholar 

  • Karagouni, G., and Caloghirou, Y. (2013) “The nature and dimensions of auto-telic capabilities in knowledge-intensive low-tech ventures: an introduction”, World Review of Entrepreneurship, Management and Sustainable Development, 9(2), 230–245.

    Article  Google Scholar 

  • Karagouni, G., Protogerou, A., and Caloghirou, Y. (2013) “The impact of auto-telic and dynamic capabilities on the performance of knowledge-intensive, low-tech ventures”, International Journal of Innovation and Regional Development, 5(2), 210–225.

    Article  Google Scholar 

  • Kim, M., Song, J., and Triche, J. (2014), “Toward an integrated framework for innovation in service: A resource-based view and dynamic capabilities approach”, Information Systems Frontiers, 1–14.

    Google Scholar 

  • Lawer, C. (2006), Eight styles of firm-customer knowledge creation, OMC Group Insight, No. 4, http://chrislawer.blogs.com/chris.lawer/2006/05/eight_styles_ of.html [accessed 10 October 2014].

  • Leheyda N., Calderero, A., Hollanders, H., Lázaro, J. M., Patel, P., Rammer, C, Saenz De Zaitegi, E., Ugalde, I., (2008) “Identification of Europe’s Sectoral Innovation Leaders”, Europe Innova Sectoral Innovation Watch, Final Report, European Commission, Brussels.

    Google Scholar 

  • Locke K (2001) Grounded theory in management research, London, U.K.: Sage Publications.

    Google Scholar 

  • Lusch R. F. and Vargo S. L. (2006) “The Service Dominant Logic of Marketing: Reactions, Reflections, and Refinements”, Marketing Theory 6(3), 281–288.

    Article  Google Scholar 

  • Malerba, F. and McKelvey, M. (2010) “Conceptualizing Knowledge-intensive Entrepreneurship: Concepts and Models”, Paper presented at the DIME/AEGIS Conference, 7–10 October, Athens, Greece.

    Google Scholar 

  • Mele, C. and Delia Corte, V., (2013) “Resource-based view and Service-dominant logic: Similarities, differences and further research”, Journal of Business Market Management, 6(4), 192–213.

    Google Scholar 

  • Mele, C, Russo Spena, T. and Colurcio, M. (2010) “Co-creating Value Innovation through Resource Integration”, International Journal of Quality and Service Sciences 2(1), 60–78.

    Article  Google Scholar 

  • Michel S, Vargo S. L. and Lusch R. (2008) “Reconfiguration of the Conceptual Landscape: A Tribute to the Service Logic of Richard Normann”, Journal of the Academy of Marketing Science 36(7), 152–155.

    Article  Google Scholar 

  • Nenonen, S. and Storbacka, K. (2010) “Business model design: conceptualizing networked value co-creation”, International Journals of Quality of Services Sciences, 2(1), 43–59.

    Article  Google Scholar 

  • Normann R. and Ramirez R. (1993) “From Value Chain to Value Constellation”, Harvard Business Review, 71(4), 65–77.

    Google Scholar 

  • Payne A. R, Storbacka K. and Frow P. (2008) “Managing the Co-creation of Value”, Journal of the Academy of Marketing Science 36(1), 83–96.

    Article  Google Scholar 

  • Piller, F., Schubert, P., Koch, M. and Möslem, K. (2005) “Overcoming Mass Confusion: Collaborative Customer Co-Design in Online Communities”, Journal of Computer-Mediated Communication, 10(4).

    Google Scholar 

  • Pitelis, C. N., & Teece, D. J. (2009) “The (new) nature and essence of the firm”, European Management Review, 6(1), 5–15.

    Article  Google Scholar 

  • Pitelis, C. N., & Teece, D. J. (2010) “Cross-border market co-creation, dynamic capabilities and the entrepreneurial theory of the multinational enterprise”, Industial and Corporate Change, 19(4), 1247–1270.

    Article  Google Scholar 

  • Prahalad C. K. and Ramaswamy V. (2004) The Future of Competition: Co-creating Unique Value with Customers, Boston, Massachusetts: Harvard Business School Press.

    Google Scholar 

  • Protogerou, A. and Karagouni, G. (2012) “Identifying Dynamic Capabilities in Knowledge-intensive New Entrepreneurial Ventures across Sectoral Groups and Countries”, Dl.8.2, AEGIS Project.

    Google Scholar 

  • Protogerou, A., Caloghirou, Y. D., & Karagouni, G. (2014) “The relevance of the ‘dynamic capabilities’ perspective in low-tech sectors”, In Hirsch-Kreinsen, H. and Schwinge I. (eds), Knowledge-Intensive Entrepreneur ship in Low-Tech Industries. Cheltenham, UK: Edward Elgar Pub, 138.

    Google Scholar 

  • Ramaswamy, V, and Gouillart, F. J. (2010) The power of co-creation: Build itwith them to boost growth, productivity, and profits, New York: Simon and Schuster.

    Google Scholar 

  • Ranjan, K. R., and Read, S. (2014) “Value co-creation: concept and measurement”, Journal of the Academy of Marketing Science, 1, 1–26.

    Google Scholar 

  • Robertson, P. and Smith, K. (2008) “Distributed Knowledge Bases in Low and Medium Technology Industries”, AIRC Working Paper Series WP/0208, Australian Innovation Research Centre, University of Tasmania.

    Google Scholar 

  • Romero, D. and Molina, A. (2011) “Collaborative Networked Organizations and Customer Communities: Value Co-Creation and Co-Innovation in the Networking Era”, Journal of Production Planning & Control, 22(4).

    Google Scholar 

  • Saarijärvi H. P. K. Karman H. K., (2013) “Value co-creation: theoretical approaches and practical implications”, European Business Review, 25(1), 6–19.

    Article  Google Scholar 

  • Santamaría, L., Nieto, M. J. & Barge-Gil, A. (2009) “Beyond formal R&D: Taking Advantage of Other Sources of Innovation in Low-And Medium-Technology Industries”, Research Policy, 38(3), 507–517.

    Article  Google Scholar 

  • Sirmon, D. G., Hitt, M. A., & Ireland, R. D. (2007), “Managing firm resources in dynamic environments to create value: Looking inside the black box”, Academy of Management Review, 32(1), 273–292.

    Article  Google Scholar 

  • Smirnova, M., Podmetina, D. and Kouchtch, S. (2009), “Key stakeholders’interaction as a factor of product innovation: the case of Russia”, International Journal of Technology Marketing, 4(2/3), 230–47.

    Article  Google Scholar 

  • Suttie, Ed (2007) “Briefing Note for Forestry Commission: An update on Wood Plastic Composites”, Building Research Establishment.

    Google Scholar 

  • Stanley, R., and Uden, L. (2013, January). Why projects fail, from the Perspective of Service Science. In 7th International Conference on Knowledge Management in Organizations: Service and Cloud Computing. Springer Berlin Heidelberg, 421–429.

    Google Scholar 

  • Tanev, S. (2011) “How do value co-creation activities relate to the perception of firms’ innovativeness”, Journal of Innovation Economics, 1(7), 131–159.

    Article  Google Scholar 

  • Teece, D. J. (1986) “Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy”, Research policy, 15(6), 285–305.

    Article  Google Scholar 

  • Teece, D. J. (2007), ‘Explicating dynamic capabilities: the nature and microfoun-dations of (sustainable) enterprise performance,’ Strategic Management Journal, 2(13), 1319–1350.

    Article  Google Scholar 

  • Teece D., (2010) “Business Model, Business Strategy And Innovation”, LongRange Planning, 43, 172–194.

    Google Scholar 

  • Teece, D. J. (2014) “A dynamic capabilities-based entrepreneurial theory of the multinational enterprise”, Journal of International Business Studies, 45(1), 8–37.

    Article  Google Scholar 

  • Teece D, Pisano G and Shuen A (1997) Dynamic Capabilities and Strategic Management, Strategic Management Journal 18(7), 509–533.

    Article  Google Scholar 

  • Thomas, L. and Autio, E. (2012) “Modeling the Ecosystem: A Meta-synthesis of Ecosystem and Related Literatures”, DRUID conference, June 19–21, Copenhagen, Denmark.

    Google Scholar 

  • Vargo S. L. and Lusch R. (2004) “Evolvingto a New Dominant Logic for Marketing”, Journal of Marketing, 68(1), 1–17.

    Article  Google Scholar 

  • Vargo S. L. and Lusch R. (2008) “Why’ service’?”, Journal of the Academy of Marketing Science 36(7), 25–38.

    Article  Google Scholar 

  • von Hippel, E. (1988) The Sources of Innovation, New York: Oxford University Press.

    Google Scholar 

  • Von Hippel, E. (2005) Democratizing innovation, Cambridge, Massachusetts, London, England: MIT press.

    Google Scholar 

  • von Tunzelmann, G. N., Acha, V, (2004) “Innovation in ‘low tech’ industries” In: Fagerberg, J., Mowery, D. C, Nelson, R. R. (Eds.), The Oxford Handbook of Innovation, New York: Oxford University Press, pp. 407–432.

    Google Scholar 

  • Wikner, S. (2010) “Value Co-creation as Practice: On a Supplier’s Capabilities in the Value Generation Process”, JIBS Dissertation Series No. 068.

    Google Scholar 

  • Yin, R. K., (2003) Case study research, design and methods, 3rd edn. Newbury Park: Sage Publications.

    Google Scholar 

  • Zahra, S. A., Sapienza, H. J. and Davidsson, P. (2006), ‘Entrepreneurship and dynamic capabilities: a review, model and research agenda,’ Journal of Management Studies, 43(4), 918–955.

    Article  Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 2015 Glykeria Karagouni and Aimilia Protogerou

About this chapter

Cite this chapter

Karagouni, G., Protogerou, A. (2015). Dynamic Capabilities and Value Co-Creation in Low-Tech Knowledge-Intensive Entrepreneurial Ventures. In: Kaufmann, H.R., Shams, S.M.R. (eds) Entrepreneurial Challenges in the 21st Century. Palgrave Macmillan, London. https://doi.org/10.1057/9781137479761_5

Download citation

Publish with us

Policies and ethics