Renewal Through Co-Creation in Business Networks

Raimo Hyötyläinen; Katri Valkokari; Petri Kalliokoski

Renewal Through Co-Creation in Business Networks

Raimo Hyötyläinen, Katri Valkokari, Petri Kalliokoski

BA10 Management and support

Research output: Chapter in Book/Report/Conference proceeding › Chapter or book article › Professional

Abstract

The paper presents four models of business renewal within networks based on earlier literature and the theoretical framework. 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, e.g. 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 language	English
Title of host publication	Value Co-Creation
Subtitle of host publication	Best of TIM Review Kindle edition
Editors	Stoyan Tanev, Marko Seppä
Place of Publication	Ottawa, ON, Canada
Publication status	Published - 2013
MoE publication type	D2 Article in professional manuals or guides or professional information systems or text book material

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Hyötyläinen, R., Valkokari, K., & Kalliokoski, P. (2013). Renewal Through Co-Creation in Business Networks. In S. Tanev, & M. Seppä (Eds.), Value Co-Creation : Best of TIM Review Kindle edition

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N2 - The paper presents four models of business renewal within networks based on earlier literature and the theoretical framework. 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, e.g. 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.

AB - The paper presents four models of business renewal within networks based on earlier literature and the theoretical framework. 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, e.g. 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.

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