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

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industries. Innovation is the source of valuecreation.The Value-Chain Framework Porter, 1985 Deals with value creation at the firm level.Identifies activities and studies the economicimplications of the different activitiesThe Resource Based View(RBV) of the FirmSchumpeter, 1934Penrose, 1959Wernerfelt, 1984Barney, 1991Peteraf, 1993Amit & Schoemaker 1993The underlying logic of this view is that a firm’ sresources and capabilities are valuable only ifthey reduce a firm’ s costs or increase itsrevenues compared to what would have been thecase if the firm did not possess those resources.Transaction Cost Economics Coase, 1937Williamson, 1975, -79, -83Deals with the question why firms internalizetransactions that otherwise might be conductedthrough market transactions.Identifies transaction efficiency as a majorsource of value, as enhanced efficiency reducescosts. It suggests that value creation can derivefrom the attenuation of uncertainty, complexity,information asymmetry, and small-numbersbargaining conditions.Reputation, trust, and transactional experiencecan lower the cost of idiosyncratic exchangesbetween firms.Resource Dependence Pfeffer & Salancik, 1978 Sees organizations as active in adapting to theirenvironment in order to get access to resources.Strategic NetworksGulati, Nohria, Zaheer, 2000Freeman, 1979Granovetter, 1973Lorenzoni & Lipparini, 1999Gulati, 1999Gulati, et al. 2000Katz & Shapiro, 1985Shapiro & Varian, 1999Anand & Khanna, 2000Dyer & Noboeka, 2000Dyer & Singh, 1998Kogut, 2000Möller & Svahn , 2003Parolini, 1999Marketing theory Alderson, 1957Business MarketingWilson et al., 1994, 1995Focuses on the implications of network structurefor value creation.Looks at governance mechanisms such as trustfor value creation.Looks at the importance of resources andcapabilities of suppliers and customers for valuecreation.Strategic networks creating value through accessto information, markets, and technologies.Enhanced transaction efficiency, reducedasymmetries of information, and improvedcoordination between the firms involved in anallianceNetworks offer the potential to share risk,generate economies of scale and scope.Networks offer the possibility for knowledgesharing and can facilitate learning.Shortened time to market.Discuss intentionally created strategic businessnetworks and suggest a value-system view fordescribing the differences between various nets.Discuss the relativity of value in the context ofcomplex “ value creating systems” .Value creation through exchange.Suggests that value can be understood ascompetence, market position, and social rewards.Spekman et al., 1985Benefits of relational exchange being reduceduncertainty and managed dependence57
Dwyer et al., 1987Anderson & Narus, 1998, 1999,2004Snehota, 1990Benefits of buyer-seller relations in achievinggoals as a result of effective communication andcollaborationConceptualizes customer value by discussingvalue and price of offerings provided bysuppliers to customers.Value as the realization of the potential servicesin resources through business exchange.Gadde & Snehota, 2000 Discusses benefits and costs of supplierrelationships where costs are; direct procurementcosts, transaction costs, relationship handlingcosts, and supply handling costs. Benefits in turnare divided into cost benefits and revenuebenefits.De Chernatory et al., 2000 Value as a trade off between total benefits andsacrificesWalter el al., 2001Discusses functions of a customer relationship;direct functions: profit function, the volumefunction and the safeguard function. Indirectfunctions: the innovation function, the marketfunction, the scout function and the accessfunction. Supplier-perceived value consists offunctions of a customer relationshipUlaga, 2001Discusses customer value by using threedifferent perspectives: the “ buyer perspective” ,“ the supplier perspective” and “ the buyer-sellerperspective” .Gadde et al., 2002Discusses price as an aspect of cost and revenuein the exchange processSelnes & Johnson, 2004Presents a typology for value creation in anexchange relationship by using parity value,differentiated value and customized value.Håkansson & Prenkert, 2004 Distinguishes between exchange value and usevalue.Table 3.1: Summary of conceptualizations of valueGiven the above literature review on value and the summarization above it can clearly beseen that value can be thought of in a number of different ways, depending on the context.As mentioned earlier value is relative and should be treated as such. In this study, which isan exploratory case study, the stated aim is to review how value has been used theoreticallyand to explore empirically how it is perceived in a buyer-seller dyad. For this purpose Ibelieve that a loose conceptual framework is the most suitable for this study. A looseframework will give room for the empirical material to speak. In this way exploration willbe possible instead of being locked in a rigid pre-understanding of what could be perceivedas value in this particular context.58
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Birgitta ForsströmValue Co-Creatio
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VALUE CO-CREATION IN INDUSTRIAL BUY
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CIP Cataloguing in PublicationForss
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Suokannas and Annica Isacsson my de
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3.3 The use of the value concept in
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7.2.1 Price as a benefit and a sacr
Page 13 and 14: Figure 8.1: Interdependence, involv
Page 15 and 16: 81. INTRODUCTIONEconomic theory rel
Page 17 and 18: Portfolio management and key accoun
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Page 21 and 22: creation in a world of relationship
Page 23 and 24: Möller and Halinen-Kaila (1999) cr
Page 25 and 26: Value of a Relationship: When discu
Page 27 and 28: 1.3 Outline of the studyThe study s
Page 30 and 31: in such relationships, and on how t
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Page 38 and 39: simplifying and combining observati
Page 40 and 41: the purpose of why it is studied an
Page 42 and 43: started paying attention to issues
Page 44 and 45: The analysis of the material was an
Page 47: are: setting the boundaries of the
Page 50 and 51: Critical events during the process
Page 52 and 53: interviewing, observing, reading, r
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Page 72 and 73: 4.2 The IMP view on relationships a
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Page 82 and 83: interdependence is associated with
Page 84 and 85: “ The performance of supplier arr
Page 86 and 87: Figure 4.5: Different value creatin
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Page 90 and 91: There is no simple or universal def
Page 92 and 93: The question of win-win in partners
Page 94 and 95: The following chapter, number five,
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Page 102 and 103: :: ]:: ]In normal cases the Seller
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Page 106 and 107: 6. THE DEVELOPMENT OF THE RELATIONS
Page 108 and 109: In 1997 when Mr BR9 got the positio
Page 110 and 111: The relationship between the compan
Page 112 and 113: ” He (BR9) often talks about the
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With some years of experience with
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offering, the Buyer still sees the
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When the Seller realized that they
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we have a new development in the pr
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to serving the customers - the part
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” This is the most problematic ag
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• Optimize operations i.e. fuel o
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They also commented that the person
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6.7.5 Comments on internal issuesAt
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changes, and that the Seller would
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survey 14 that the Seller had condu
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Seller. At present there are three
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15 - a factor that should not be ne
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elationship and the people interact
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7.1 Perceived value as a prerequisi
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” We are in the process of develo
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and that is insane. We must be able
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è èèèè èèèè èè èè èè
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We learn their way of handling thin
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Price receivedThe price received ca
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partnership with the Seller, the as
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In the light of this, one could say
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dependence. If managers were not ab
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Seller’ s products and concepts,
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forth between the companies. This h
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What I found even more interesting
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The Buyer sees that the interest fo
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decision to pursue a collaborative
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methodology. I will also direct som
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years to come. Consequently the par
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€‚ƒ‡ ˆ„~„| }~different
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Question 1: How is the value concep
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exists, the value co-creation poten
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partnering and cooperating are so o
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process of analyzing the material s
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Barney, JB. (1991). Firms resources
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Forsström, B., (1998). Trouble & S
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Katz, M & Shapiro, C (1985). Networ
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Shapiro, B.P., Rangan V.K., Moriart
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Interviews:Interview: Buyer 1Interv
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Relationships between buyers and se
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