Co-creation in private and public sector contexts

Tero Montonen, Päivi Eriksson and Eeva Aromaa

Chapter 20 in Elgar Encyclopedia of Innovation Management, 2025, pp 69-73 from Edward Elgar Publishing

Abstract: Co-creation is a process where organisations and stakeholders collaborate to generate social and economic value through active participation. It empowers stakeholders by giving them a voice in shaping products, services, policies, and processes that directly affect their lives. Co-creation fosters innovation by bringing diverse perspectives together to achieve outcomes that are socially accepted and mutually beneficial. The concept has been applied across various sectors, including private, public, nonprofit, and nongovernmental organisations. In the private sector, two major research streams focus on marketing-driven value creation and crowdsourcing for innovation, highlighting how businesses and customers co-create products and services that better meet consumer needs. In the public sector, co-creation emphasises the collaboration between governments, citizens, and community groups in developing public services and policies.

Keywords: Collaboration; Participation; Private sector; Public sector; Stakeholder (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035306442
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