The Co-Creation Paradigm: A Critical Review: Prerequisites for Managerial Enactment

Stenius Linn

Student thesis: Master thesis

Abstract

Co-Creation is becoming increasingly entwined in business operations, and has gained greater attention in business discourse since Ramaswamy and Prahalad popularized the term and folded it as a business strategy in 2004. One of the latest and more rigorous contributions to the field concern Ramaswamy and Ozcan (2014) who propose a framework for a firm to transform its business ecosystem into what they call the Co-Creation Paradigm. This paper is a critical reflection on the framework, exploring its core prerequisites for implementation and how it can be applied to practice. More specifically, the paper explores co-creation in a New Product Development setting to further investigate the link between the firm and its external stakeholders. The paper is an explorative study building on a qualitative research strategy. The study can be divided into two knowledge progression cycles. The first cycle contain a literature study of the framework coupled with input from interviews with managers. The latter part builds on a multiple case study design of two strategically selected cases building on interviews and document analysis. In the first knowledge progression cycle, the framework was identified to lack a resourcebased perspective from which a number of core prerequisites were derived. The most meaningful identified prerequisites for implementation were the existence of a strong corporate brand and capabilities for building and running platforms. From the second knowledge progression cycle, it was indicated that co-creation is enacted differently depending on typology of innovation and New Product Development business model and that the framework cannot be applied as a generic idea or approach. The contribution of this thesis resides in a greater understanding of the framework and its meaning in practice, as well as an opening towards how co-creation in an NPD setting can either be strategically or operationally deployed

EducationsCand.merc.smc Strategic Market Creation, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2015
Number of pages112