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

combine them has gradually chiseled out. Thus, it is the interaction process thatdevelops and establishes the interfaces where resources are activated. And, theinterfaces determine the features of the involved resources. In other words, theinterfaces determine the use and the value of resources” .(Håkansson & Waluszewski, 2001, p 4)The parties involved, the context and the content are all factors that influence the nature ofthe interaction. The history of the relationship shapes present and future interaction, whilesimultaneously the present moment shapes how we interpret the history of the relationship.Interaction is dynamic, is in constant movement and change – it is a process. Interaction canbe monotonous and uneventful until it evolves notable momentum and something is createdout of it – it is the process dynamic that is interesting, and yet so difficult to capture.What is the problem? That there is only a limited understanding, of the process of twoparties, a buyer and a seller, engaged in a business relationship creating value together overtime. There is a limited understanding of the process, and which factors in the past and atpresent are crucial for how value is created jointly by the parties. According to traditionaleconomic theories it is risky for companies to engage in cooperation because this involvesbecoming dependent, which is against the economic logic of being independent and havingbargaining power. There is only a limited understanding of how interdependence, createdthrough years of interaction can be seen as a resource that can be managed and exploited forvalue co-creation.For whom is it a problem? The problem of not understanding the dynamics of value cocreationin buyer-seller relationships is a problem first and foremost for managers involvedin business relationships. Not having the perspective to see the value of a relationship andthe value created in a relationship in new ways in a complex and dynamic world can lead tolost business opportunities. The choice of engaging in a high-involvement relationship(partnership) instead of a transactional approach with a supplier or a customer is a strategicchoice. To be able to make an informed choice about the proper relationship managementapproach is crucial for business success. The benefits of cooperation are to some extent -and increasingly - recognized on industrial markets. However, close cooperation is aresource intensive strategy, to view it as beneficial per se is to oversimplify the situation.The choice of whether to pursue a cooperative strategy instead of a transactional approachshould be seen as a strategic choice and given its due attention.The research problem is also relevant for the academic community, especially for thosewho are interested in understanding the emerging re-definition of value and value co-13