Renewal through co-creation in business networks

Raimo Hyötyläinen, Katri Valkokari, Petri Kalliokoski

Research output: Contribution to journalArticleScientificpeer-review

Abstract

This article presents four models of business renewal within networks based on a theoretical framework developed from earlier literature. According to the typical dimensions of business development, our framework distinguishes between the exploitation of present knowledge for efficiency and the exploration of new knowledge for new business development. Furthermore, the two network development and governance types (i.e., hub-spoke and multiplex) form the other dimension of the framework. The framework was empirically tested with five case companies and their business networks. The framework of network models may help managers to structure the business network and its renewal based on the strategic targets of a firm. Furthermore, the theoretical contribution of the paper deepens the understanding of how co-creation and interaction between the participants differ according to business focus and complexity of networks.
Original languageEnglish
Pages (from-to)29-37
Number of pages9
JournalOpen Source Business Resource (OSBR)
Volume2011
Issue numberMarch
Publication statusPublished - 2011
MoE publication typeA1 Journal article-refereed

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Keywords

  • co-creation
  • business networks
  • renewal

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