Developing and testing a prototype tool to track and measure Co-creation activity
Chezek, Michael (2012)
Chezek, Michael
Laurea-ammattikorkeakoulu
2012
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201205198853
https://urn.fi/URN:NBN:fi:amk-201205198853
Tiivistelmä
During the 21st century, the shift from traditional business models that focus on value in exchange to those models that focus on value in use has been gaining in popularity among businesses worldwide. Globalization, networking, customer access to information and increasing variety of customer choices are factors accredited for this paradigm shift. Since the turn of the century, large corporations have invested resources into developing and innovating co-creation business models. Smaller firms with less capital are now starting to recognize the benefits of this approach and are taking advantage of readily available literature on the subject and attending seminars in order to keep pace with the phenomenon’s rate of growth. One challenge that exists for firms, along with implementing a new business model concept, is finding a way to measure the effectiveness of their co-creation approach.
The purpose of this thesis is to develop a prototype tool to assist a firm on tracking and measuring the success of its co-creation approach. The idea is that this prototype is one that can be developed into a tool that can be published in the co-creation manual that the CoCo (From Co-production to Co-creation) project led by Krista Keränen is designing in cooperation with business consultant Chris Evatt and TEKES (The Finnish Funding Agency for Innovation and Technology). The concept of the tool is to measure the success of co-creation efforts through the accomplishment of goals that are based on a firm’s strategy.
The objective is to get companies to take a holistic view their co-creation efforts, link goals to their strategy supporting drivers, recognize barriers and identify co-creation partners from value networks. Knowledge of the co-creation phenomenon is essential to begin measurement, but it is difficult for an academic, start-up business or a firm that has its culture based on traditional transaction strategy to determine what level of knowledge exists or is required in a firm. This prototype tool will be presented in a workshop to a group of business leaders at a two day co-creation seminar held at Laurea University of Applied Sciences’ Leppävaara unit on 22 May 2012.
The theoretical background of this thesis concentrates on business metrics, business measurement frameworks and co-creation themes in accordance with those published by the CoCo project manager and scientific leader. Definitions of some business terms are different according to authors of researched literature and choices had to be made as to what definitions for those particular terms would be used in this thesis. Causal relationships between components of the tool were established based on the theory which supports each respective component.
Action research using qualitative methods was conducted for this thesis. Data was collected from comments solicited after presentations that were given to focus groups and a case company. A structured questionnaire was not used due to the fact that it was already known that co-creation efforts had to be measured. It was more a case of trial and error with a proposed tracking and measuring tool that had been determined to be the best method for obtaining the required comments and feedback that would facilitate developing the prototype tool.
The outcome of the research is the design of a worksheet referred to as the COAM (Co-creation Approach Measurement) tool which has eight components, is based on company strategy, can be used at different levels of management and has been submitted to a case company for testing.
The purpose of this thesis is to develop a prototype tool to assist a firm on tracking and measuring the success of its co-creation approach. The idea is that this prototype is one that can be developed into a tool that can be published in the co-creation manual that the CoCo (From Co-production to Co-creation) project led by Krista Keränen is designing in cooperation with business consultant Chris Evatt and TEKES (The Finnish Funding Agency for Innovation and Technology). The concept of the tool is to measure the success of co-creation efforts through the accomplishment of goals that are based on a firm’s strategy.
The objective is to get companies to take a holistic view their co-creation efforts, link goals to their strategy supporting drivers, recognize barriers and identify co-creation partners from value networks. Knowledge of the co-creation phenomenon is essential to begin measurement, but it is difficult for an academic, start-up business or a firm that has its culture based on traditional transaction strategy to determine what level of knowledge exists or is required in a firm. This prototype tool will be presented in a workshop to a group of business leaders at a two day co-creation seminar held at Laurea University of Applied Sciences’ Leppävaara unit on 22 May 2012.
The theoretical background of this thesis concentrates on business metrics, business measurement frameworks and co-creation themes in accordance with those published by the CoCo project manager and scientific leader. Definitions of some business terms are different according to authors of researched literature and choices had to be made as to what definitions for those particular terms would be used in this thesis. Causal relationships between components of the tool were established based on the theory which supports each respective component.
Action research using qualitative methods was conducted for this thesis. Data was collected from comments solicited after presentations that were given to focus groups and a case company. A structured questionnaire was not used due to the fact that it was already known that co-creation efforts had to be measured. It was more a case of trial and error with a proposed tracking and measuring tool that had been determined to be the best method for obtaining the required comments and feedback that would facilitate developing the prototype tool.
The outcome of the research is the design of a worksheet referred to as the COAM (Co-creation Approach Measurement) tool which has eight components, is based on company strategy, can be used at different levels of management and has been submitted to a case company for testing.