Interactive Value Creation
This course will introduce the participants into the concept of a strategy of interactive value creation (IVC) by companies through interaction and integra-tion of external actors, especially users (customers). IVC is an umbrella term addressing recent concepts liked common-based peer production (Benkler), Wikinomics (Tapscott), Crowdsourcing (Howe, Lakhani), User Innovation (von Hippel), Open Innovation (Chesbrough), and Mass Customization (Pine, Piller), but also agile supply chains and new forms of distributed problem solving in the innovation process.
The course aims at building a theoretical framework and at enabling participants to critically differentiate IVC from other concepts of organizing division of labour, inter-organizational supply chains, and knowledge transfer. In order to achieve this, the potentials and limitations for empirical cases, based upon the current scientific debate and research, will be discussed. Further, two distinct applications of interactive value creation along the innovation process will be discussed more in detail: open innovation and mass customization.
Classroom sessions are likely to comprise a mixture of traditional lectures, case/paper discussions and student presentations. Please note that a detailed course outline and reading list will be made available in L2P ahead of the first session.
After participating in this course, students should be in a position to:
• Understand the concept of interactive value creation, the principles for explaining labour division in economic activities, the benefits of interactive value creation from a multi-dimensional stakeholder perspective, and the organizational aspects for im-plementing an interactive value crea-tion
• Know the basic activities and processes needed in order to establish a system of customer-centric value creation.
• Differentiate the various approaches and methods how principles of IVC are applied in the practice of an organization, and critically evaluate these approaches for their usefulness in particular markets and business fields.
• Critically analyze and interpret journal articles and effectively communicate research findings