Document Type : Research Paper

Authors

1 Chairman of the Passive Defense Committee

2 Member of the faculty of Malik Ashtar University

10.22034/jtd.2023.704021

Abstract

Co-creation is known as a process in which the customer wants to play an important role in order to improve the company's products and services. Achieving shared value creation requires a structural fit between customer activities and seller activities. Value creation has a collaborative and interactive nature, and now value is not only in exchange, but also in use. At the intersection of emerging perspectives on entrepreneurship and S-D logic, an opportunity creation process involves four distinct but mutually and iterative stages of developing value propositions, communicating value propositions, extracting and determining value, and reshaping markets. Value creation has practically become the source of company performance due to the key role it plays in product and service development, and consumers are considered as the determinants and creators of value and the company as a partner. Planting innovation is the creation of new company's potential resources in new technology and harvesting innovation is creating new resources that are waiting for market launch in the short term. To harvest innovation, companies must interact with intermediate and final consumers, governments, non-governmental organizations, suppliers and Research institutions to cooperate. The resulting products or services are expected to be favored by the market, because companies have reflected market opinions in the innovation process. In planting innovation, emerging economic companies must attract the participation of potential consumers, governments, non-governmental organizations, research institutions, and technological investments. Cyberspace allows growers and harvesters from emerging economies to overcome the limitations of location and culture, and with minimal investment, companies can create value with different stakeholders across borders and time zones.

Keywords

Main Subjects

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