Value of Virtual Prototyping: A Strategic Resource Based View

Simo-Pekka Leino, Tapio Koivisto, Asko Riitahuhta

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

    1 Citation (Scopus)

    Abstract

    This conceptual paper proposes how business value of virtual prototyping (VP) could be modeled in the context of manufacturing industry and engineering design. The strategic resource based approach mapped data from industrial studies to public value theories and models in order to synthesize and model how technological features and benefits of VP could contribute to value creation and capture during a product-service value chain. In the model virtual prototyping is positioned as a strategic asset within value network and value shop configurations that have their own logic and processes related to value chains. The resource based strategic value of VP model emphasizes role of virtual prototyping as a media for better organizational knowledge creation and learning, which is today one of the essential competences of enterprises. In future the proposed model will be used as a reference in empirical studies. It will be iteratively improved and concretized in industrial strategy development projects. Aim is that VP business value modeling facilitates better adoption of VP, and reduces incredulous attitudes in manufacturing enterprises.
    Original languageEnglish
    Title of host publicationProceedings of the 19th International Conference on Engineering Design, ICED 13
    Place of PublicationCopenhagen
    PublisherDanmarks Tekniske Universitet
    Pages249-258
    ISBN (Print)978-1-904670-47-6
    Publication statusPublished - 2013
    MoE publication typeNot Eligible
    Event19th International Conference on Engineering Design, ICED13 - Seoul, Korea, Republic of
    Duration: 19 Aug 201322 Aug 2013

    Conference

    Conference19th International Conference on Engineering Design, ICED13
    Abbreviated title ICED 2013
    CountryKorea, Republic of
    CitySeoul
    Period19/08/1322/08/13

    Fingerprint

    Strategic resources
    Virtual prototyping
    Resource-based view
    Business value
    Resource-based
    Value chain
    Value network
    Empirical study
    Strategic assets
    Development projects
    Manufacturing industries
    Value capture
    Organizational knowledge
    Strategy development
    Modeling
    Value theory
    Service value
    Manufacturing
    Value creation
    Asset value

    Keywords

    • concurrent design
    • communication
    • virtual reality
    • value
    • business

    Cite this

    Leino, S-P., Koivisto, T., & Riitahuhta, A. (2013). Value of Virtual Prototyping: A Strategic Resource Based View. In Proceedings of the 19th International Conference on Engineering Design, ICED 13 (pp. 249-258). Copenhagen: Danmarks Tekniske Universitet.
    Leino, Simo-Pekka ; Koivisto, Tapio ; Riitahuhta, Asko. / Value of Virtual Prototyping : A Strategic Resource Based View. Proceedings of the 19th International Conference on Engineering Design, ICED 13. Copenhagen : Danmarks Tekniske Universitet, 2013. pp. 249-258
    @inproceedings{dcb86ec4e90348b78de26362760b9a9e,
    title = "Value of Virtual Prototyping: A Strategic Resource Based View",
    abstract = "This conceptual paper proposes how business value of virtual prototyping (VP) could be modeled in the context of manufacturing industry and engineering design. The strategic resource based approach mapped data from industrial studies to public value theories and models in order to synthesize and model how technological features and benefits of VP could contribute to value creation and capture during a product-service value chain. In the model virtual prototyping is positioned as a strategic asset within value network and value shop configurations that have their own logic and processes related to value chains. The resource based strategic value of VP model emphasizes role of virtual prototyping as a media for better organizational knowledge creation and learning, which is today one of the essential competences of enterprises. In future the proposed model will be used as a reference in empirical studies. It will be iteratively improved and concretized in industrial strategy development projects. Aim is that VP business value modeling facilitates better adoption of VP, and reduces incredulous attitudes in manufacturing enterprises.",
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    Leino, S-P, Koivisto, T & Riitahuhta, A 2013, Value of Virtual Prototyping: A Strategic Resource Based View. in Proceedings of the 19th International Conference on Engineering Design, ICED 13. Danmarks Tekniske Universitet, Copenhagen, pp. 249-258, 19th International Conference on Engineering Design, ICED13, Seoul, Korea, Republic of, 19/08/13.

    Value of Virtual Prototyping : A Strategic Resource Based View. / Leino, Simo-Pekka; Koivisto, Tapio; Riitahuhta, Asko.

    Proceedings of the 19th International Conference on Engineering Design, ICED 13. Copenhagen : Danmarks Tekniske Universitet, 2013. p. 249-258.

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

    TY - GEN

    T1 - Value of Virtual Prototyping

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    AU - Leino, Simo-Pekka

    AU - Koivisto, Tapio

    AU - Riitahuhta, Asko

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    PY - 2013

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    N2 - This conceptual paper proposes how business value of virtual prototyping (VP) could be modeled in the context of manufacturing industry and engineering design. The strategic resource based approach mapped data from industrial studies to public value theories and models in order to synthesize and model how technological features and benefits of VP could contribute to value creation and capture during a product-service value chain. In the model virtual prototyping is positioned as a strategic asset within value network and value shop configurations that have their own logic and processes related to value chains. The resource based strategic value of VP model emphasizes role of virtual prototyping as a media for better organizational knowledge creation and learning, which is today one of the essential competences of enterprises. In future the proposed model will be used as a reference in empirical studies. It will be iteratively improved and concretized in industrial strategy development projects. Aim is that VP business value modeling facilitates better adoption of VP, and reduces incredulous attitudes in manufacturing enterprises.

    AB - This conceptual paper proposes how business value of virtual prototyping (VP) could be modeled in the context of manufacturing industry and engineering design. The strategic resource based approach mapped data from industrial studies to public value theories and models in order to synthesize and model how technological features and benefits of VP could contribute to value creation and capture during a product-service value chain. In the model virtual prototyping is positioned as a strategic asset within value network and value shop configurations that have their own logic and processes related to value chains. The resource based strategic value of VP model emphasizes role of virtual prototyping as a media for better organizational knowledge creation and learning, which is today one of the essential competences of enterprises. In future the proposed model will be used as a reference in empirical studies. It will be iteratively improved and concretized in industrial strategy development projects. Aim is that VP business value modeling facilitates better adoption of VP, and reduces incredulous attitudes in manufacturing enterprises.

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    KW - communication

    KW - virtual reality

    KW - value

    KW - business

    M3 - Conference article in proceedings

    SN - 978-1-904670-47-6

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    BT - Proceedings of the 19th International Conference on Engineering Design, ICED 13

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    Leino S-P, Koivisto T, Riitahuhta A. Value of Virtual Prototyping: A Strategic Resource Based View. In Proceedings of the 19th International Conference on Engineering Design, ICED 13. Copenhagen: Danmarks Tekniske Universitet. 2013. p. 249-258