Value Co-Creation in Industrial Buyer-Seller Partnerships ... - Doria

In Chapters five and six, I have described and analyzed the development of the relationshipand its current status. The description revealed a complex development process that wasaffected by the business exchange in itself, by the individuals involved, by events outsidethe relationship as well as events taking place within the relationship. The importance of astrong management vision and commitment in developing the partnership was identified asan important factor in the process.How is value co-created (through interaction) in the focal dyad?Value is co-created through involvement by both parties in value co-creating processes,processes with the aim of achieving efficiency in exchange and more effective use of eachother’ s resources. Accepting interdependence as a prerequisite for value co-creationpotential is vital. The realization of the potential is done through exploitinginterdependencies through value co-creation processes – processes aiming at creating bothuse- and exchange value.What are theoretical and practical implications of understanding the dynamics ofvalue co-creation between a buyer and a seller in business markets?The theoretical implications are: first of all that value is dynamic and cannot be universallydefined, that there are different perspectives on value, and that each perspective requires adifferent definition. Other implications are that value co-creation is a suitable concept to beused in a buyer-seller context, that the degree of interdependence correlates with value cocreationpotential, and that the potential is realized through different processes, and thatprocesses for creating both use- and exchange value can be found in one cooperativeactivity system.1768.3 Summary of main findingsIn summary the main findings of the study are that there seems to be is no universaldefinition of value in the context of industrial relationships, but a notion that it is context-,time-, and actor dependent. Value co-creation is a suitable concept in the context of buyersellerrelationships. The evolution of a relationship from a transactional to a partnership islong and eventful - a process where the outcome is impossible to estimate in advance. Theprocess is filled with different types of events and also conflicts, which as a matter of factcan be seen as constructive forces in relationship development. The perceived value of arelationship is an antecedent to pursuing a high-involvement strategy; once a partnership