Value Encounter Modeling—Formalization and Application

Hans Weigand (), Paul Johannesson () and Birger Andersson ()
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Hans Weigand: Department of Management, Tilburg University, 5000 LE Tilburg, Netherlands
Paul Johannesson: Department of Computer and Systems Sciences, Royal Institute of Technology, 114 28 Stockholm, Sweden
Birger Andersson: Department of Computer and Systems Sciences, Royal Institute of Technology, 114 28 Stockholm, Sweden

Service Science, 2018, vol. 10, issue 2, 181-194

Abstract: The concept of cocreation of value has been widely accepted in the management literature and service science. Value modeling approaches such as e3value focus on the exchange of value rather than cocreation. In this paper, a new value modeling approach is proposed that builds on e3value but highlights the notion of a “value encounter.” Value encounters are defined as interaction spaces where a group of actors meet and derive value by each one bringing in some of its own resources. The paper provides a formal value encounter ontology. It is shown that this ontology captures the concept of value cocreation and offers a useful instrument for open innovation projects. A case study is provided in which the approach has been applied in the development of a “green” hospital.

Keywords: service-dominant logic; cocreation; value modeling; open innovation; value encounter (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:inm:orserv:v:10:y:2018:i:2:p:181-194

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