The Application of ICT in the Area of Value Co-Creation Mechanisms Support as a Determinant of Innovation Activities

The Essence Of Value Co-Creation

Literature review and analysis may lead to the statement that every business model defined in publications concentrates on value co-creation as a key success factor (Admit & Zott, 2010; Jelonek, 2013). However just a value proposition, even meeting client’s expectations in 100%, does not guarantee a business success for an entrepreneur. Nevertheless, a search and continuous modification of the value, which is offered by an organization to its customers, can be one of the main determinants of a business development process. Moreover, constant modification and evolution of the value correlated with needs and preferences of clients are important factors of maintaining competitive advantage and organizational learning (Skowron, 2013). Referring to experts of marketing and considerations on the importance of relations with customers, it can be defined that any market transaction contributes to reciprocal flow of value between entities. It means that not only organizations provide customers with value which is intended to meet their needs, but also clients, by reporting their needs bring value to the company/organization (Jelonek, 2013). Graphical presentation of the client-organization mutual relation is presented in Figure 1.

Figure 1.

Relation of the value proposition creation. Source: own elaboration based on (Prahalad & Ramaswamy, 2004)