DOI QR코드

DOI QR Code

Analysis on value research trend and building the resource and competence based research framework for value creation

가치 연구의 동향 분석 및 가치창출에 대한 자원 및 역량기반 연구체계 구축

  • Park, Changhyun (Department of Management of Technology, Sungkyunkwan University) ;
  • Lee, Heesang (Department of Management of Technology, Sungkyunkwan University)
  • 박창현 (성균관대학교 기술경영학과) ;
  • 이희상 (성균관대학교 기술경영학과)
  • Received : 2013.11.19
  • Accepted : 2014.04.10
  • Published : 2014.04.30

Abstract

A value creation is understood as important business strategy these days in both academics and industry. But this phenomenon is not fully understood based on systematized framework. In this paper, we summarized value research trend based on exploratory research and inductive reasoning by exploring both international and domestic journals. And we built a research framework that can analyze value creation between supplier and customer. Value research prior to 2004 is primarily divided into values of goods or services and relationship values. After 2004, service-dominant (SD) logic has been outlined. There are other research trends to see the relationship value in terms of relationship benefits and relationship in the network or supply chain. 4 critical resource types (financial resource, knowledge resource, efficiency resource, and intellectual resource) and 5 competence types (relational capability, collaboration capability, innovation capability, managing capability) are constructed as principal factors for value creation from inductive reasoning based upon a resource-based view (RBV) and a competence-based view (CBV). The research framework was built based on 4 resources and 4 competences.

Acknowledgement

Supported by : 한국연구재단

References

  1. Gronroos, C., "Service logic revisited: who creates value? And who co-creates?", European Business Review, vol. 20, no. 4, pp. 298-314, 2008. DOI: http://dx.doi.org/10.1108/09555340810886585 https://doi.org/10.1108/09555340810886585
  2. Gronroos, C., "A service perspective on business relationships: The value creation, interaction and marketing interface", Industrial Marketing Management, vol. 40, no. 2, pp. 240-247, 2011. DOI: http://dx.doi.org/10.1016/j.indmarman.2010.06.036 https://doi.org/10.1016/j.indmarman.2010.06.036
  3. Prahalad, C.K. & Ramaswamy, V., "Co-opting customer competence", Harvard business review, vol. 78, no. 1, pp. 79-90, 2000.
  4. Moller, K.E.K. & Torronen, P., "Business suppliers' value creation potential: A capability-based analysis", Industrial Marketing Management, vol. 32, no. 2, pp. 109-118, 2003. DOI: http://dx.doi.org/10.1016/S0019-8501(02)00225-0 https://doi.org/10.1016/S0019-8501(02)00225-0
  5. Moller, K., "Role of competences in creating customer value: A value-creation logic approach", Industrial Marketing Management, vol. 35, no. 8, pp. 913-924, 2006. DOI: http://dx.doi.org/10.1016/j.indmarman.2006.04.005 https://doi.org/10.1016/j.indmarman.2006.04.005
  6. Vargo, S.L. & Lusch, R.F., "Evolving to a New Dominant Logic for Marketing", Journal of Marketing, vol. 68, no. 1, pp. 1-17, 2004. DOI: http://dx.doi.org/10.1509/jmkg.68.1.1.24036 https://doi.org/10.1509/jmkg.68.1.1.24036
  7. Vargo, S.L. & Lusch, R.F., "Service-dominant logic: continuing the evolution", Journal of the Academy of Marketing Science, vol. 36, no. 1, pp. 1-10, 2008. DOI: http://dx.doi.org/10.1007/s11747-007-0069-6 https://doi.org/10.1007/s11747-007-0069-6
  8. Vargo, S.L. & Lusch, R.F., "It's all B2B…and beyond: Toward a systems perspective of the market", Industrial Marketing Management, vol. 40, no. 2, pp. 181-187, 2011. DOI: http://dx.doi.org/10.1016/j.indmarman.2010.06.026 https://doi.org/10.1016/j.indmarman.2010.06.026
  9. Barney, J., "Special theory forum the resource-based model of the firm: origins, implications, and prospects", Journal of Management, vol. 17, no. 1, 1991. DOI: http://dx.doi.org/10.1177/014920639101700107
  10. Barney, J.B., "Is the resource-based" view" a useful perspective for strategic management research? Yes", Academy of Management Review, pp. 41-56, 2001a. DOI: http://dx.doi.org/10.5465/AMR.2001.4011938
  11. Prahalad, C.K. & Hamel, G., "The core competence of the corporation", Harvard business review, vol. 68, no. 3, pp. 79-91, 1990.
  12. Babbie, E.R., The practice of social research, Wadsworth Pub Co, 2007.
  13. Bryman, A. & Bell, E., Business research methods, Oxford University Press, USA, 2007.
  14. Zeithaml, V.A., "Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence", Journal of Marketing, vol. 52, no. 3, pp. 2-22, 1988. DOI: http://dx.doi.org/10.2307/1251446 https://doi.org/10.2307/1251446
  15. Doyle, P. (ed), Value-based marketing: Marketing strategies for corporate growth and shareholder value, John Wiley & Sons, 2000.
  16. Kotler, P. (ed), Marketing ManagementInternational Millennium Edition, Prentice Hall, New Jersey, 2000.
  17. Anderson, J.C. & Narus, J.A., "Business Marketing: Understand What Customers Value", Harvard business review, vol. 76, no. 6, pp. 53-65, 1998.
  18. Woodruff, R.B., "Customer value: the next source for competitive advantage", Journal of the academy of marketing science, vol. 25, no. 2, pp. 139-153, 1997. DOI: http://dx.doi.org/10.1007/BF02894350 https://doi.org/10.1007/BF02894350
  19. Ulaga, W. & Chacour, S., "Measuring Customer-Perceived Value in Business Markets: A Prerequisite for Marketing Strategy Development and Implementation", Industrial Marketing Management, vol. 30, no. 6, pp. 525-540, 2001. DOI: http://dx.doi.org/10.1016/S0019-8501(99)00122-4 https://doi.org/10.1016/S0019-8501(99)00122-4
  20. Walter, A., Ritter, T. & Gemünden, H.G., "Value Creation in BuyerSeller Relationships: Theoretical Considerations and Empirical Results from a Supplier's Perspective", Industrial Marketing Management, vol. 30, no. 4, pp. 365-377, 2001. DOI: http://dx.doi.org/10.1016/S0019-8501(01)00156-0 https://doi.org/10.1016/S0019-8501(01)00156-0
  21. Gronroos, C. (ed), Service management and marketing: A customer relationship management approach, 2nd ed. edn, John Wiley & Sons, 2000.
  22. Ravald, A. & Gronroos, C., "The value concept and relationship marketing", European journal of marketing, vol. 30, no. 2, pp. 19-30, 1996. DOI: http://dx.doi.org/10.1108/03090569610106626 https://doi.org/10.1108/03090569610106626
  23. Normann, R. & Ramírez, R., "From value chain to value constellation: Designing interactive strategy", Harvard business review, vol. 71, no. 4, pp. 65-77, 1993.
  24. Kim, W.C. & Mauborgne, R., "Strategy, Value Innovation, and the Knowledge Economy", Sloan management review, vol. 40, no. 3, pp. 41-54, 1999.
  25. Mohr, J. & Spekman, R., "Characteristics of partnership success: partnership attributes, communication behavior, and conflict resolution techniques", Strategic Management Journal, vol. 15, no. 2, pp. 135-152, 1994. DOI: http://dx.doi.org/10.1002/smj.4250150205 https://doi.org/10.1002/smj.4250150205
  26. Morgan, R.M. & Hunt, S.D., "The Commitment-Trust Theory of Relationship Marketing", Journal of Marketing, vol. 58, no. 3, pp. 20, 1994. DOI: http://dx.doi.org/10.2307/1252308 https://doi.org/10.2307/1252308
  27. Duncan, T. & Moriarty, S.E., "A Communication-Based Marketing Model for Managing Relationships", Journal of Marketing, vol. 62, no. 2, pp. 1-13, 1998. DOI: http://dx.doi.org/10.2307/1252157 https://doi.org/10.2307/1252157
  28. Anderson, J.C. & Narus, J.A., Business market management: Understanding, creating, and delivering value, 2nd edn, Upper Saddle River (NJ): Prentice Hall, 2004.
  29. Ballantyne, D., Frow, P., Varey, R.J. & Payne, A., "Value propositions as communication practice: Taking a wider view", Industrial Marketing Management, vol. 40, no. 2, pp. 202-210, 2011. DOI: http://dx.doi.org/10.1016/j.indmarman.2010.06.032 https://doi.org/10.1016/j.indmarman.2010.06.032
  30. Macdonald, E.K., Wilson, H., Martinez, V. & Toossi, A., "Assessing value-in-use: A conceptual framework and exploratory study", Industrial Marketing Management, vol. 40, no. 5, pp. 671-682, 2011. DOI: http://dx.doi.org/10.1016/j.indmarman.2011.05.006 https://doi.org/10.1016/j.indmarman.2011.05.006
  31. Payne, A.F., Storbacka, K. & Frow, P., "Managing the co-creation of value", Journal of the Academy of Marketing Science, vol. 36, no. 1, pp. 83-96, 2008. DOI: http://dx.doi.org/10.1007/s11747-007-0070-0 https://doi.org/10.1007/s11747-007-0070-0
  32. Kichan Nam, Yong Jin Kim, Myung Seong Yim, Nam Hee Lee, Ah Rha Jo, "Understanding the Relationship between Value Co-Creation Mechanism and Firm's Performance based on the Service-Dominant Logic", Asia Pacific Journal of Information Systems, vol. 19, no. 4, pp. 177-200, 2009.
  33. Ulaga, W. & Eggert, A., "Value-Based Differentiation in Business Relationships: Gaining and Sustaining Key Supplier Status", Journal of Marketing, vol. 70, no. 1, pp. 119-136, 2006. DOI: http://dx.doi.org/10.1509/jmkg.2006.70.1.119 https://doi.org/10.1509/jmkg.2006.70.1.119
  34. Palmatier, R.W., "Interfirm relational drivers of customer value", Journal of Marketing, vol. 72, no. 4, pp. 76-89, 2008. DOI: http://dx.doi.org/10.1509/jmkg.72.4.76 https://doi.org/10.1509/jmkg.72.4.76
  35. Payne, A., Ballantyne, D. & Christopher, M., "A stakeholder approach to relationship marketing strategy: The development and use of the "six markets"model", European Journal of Marketing, vol. 39, no. 7/8, pp. 855-871, 2005. DOI: http://dx.doi.org/10.1108/03090560510601806 https://doi.org/10.1108/03090560510601806
  36. Frow, P. & Payne, A., "A stakeholder perspective of the value proposition", European Journal of Marketing, vol. 45, no. 1/2, pp. 223-240, 2011. DOI: http://dx.doi.org/10.1108/03090561111095676 https://doi.org/10.1108/03090561111095676
  37. Gronroos, C., "Value-driven relational marketing: From products to resources and competencies", Journal of marketing management, vol. 13, no. 5, pp. 407-419, 1997. DOI: http://dx.doi.org/10.1080/0267257X.1997.9964482 https://doi.org/10.1080/0267257X.1997.9964482
  38. Chen, H. & Hsu, C., "Internationalization, resource allocation and firm performance", Industrial Marketing Management, vol. 39, no. 7, pp. 1103-1110, 2010. DOI: http://dx.doi.org/10.1016/j.indmarman.2009.10.001 https://doi.org/10.1016/j.indmarman.2009.10.001
  39. Aarikka-Stenroos, L. & Jaakkola, E., "Value co-creation in knowledge intensive business services: A dyadic perspective on the joint problem solving process", Industrial Marketing Management, vol. 41, no. 1, pp. 15-26, 2012. DOI: http://dx.doi.org/10.1016/j.indmarman.2011.11.008 https://doi.org/10.1016/j.indmarman.2011.11.008
  40. Yongho Chang, Bellnine Park, "The Longitudinal Case Study on the Dynamically Evolving Value Network of SK Telecom", Journal of Korea Academia-Industrial cooperation Society, vol. 14, no. 5, pp. 2150-2156, 2013. https://doi.org/10.5762/KAIS.2013.14.5.2150
  41. Cohen, W.M. & Levinthal, D.A., "Absorptive capacity: a new perspective on learning and innovation", Administrative Science Quarterly, pp. 128-152, 1990. DOI: http://dx.doi.org/10.2307/2393553 https://doi.org/10.2307/2393553
  42. Jun-Seok Seo, Sang-Chul Jung, "Building a framework of successful knowledge management for value creation", Journal of Korea Academia-Industrial cooperation Society, vol. 13, no. 6, pp. 2528-2539, 2012. DOI: http://dx.doi.org/10.5762/KAIS.2012.13.6.2528 https://doi.org/10.5762/KAIS.2012.13.6.2528
  43. Jin-Su Kim, Mi-Sook Lee, "The Study on the Relationship of Education-Training Activities and Firm Value according to Firm Size and R&D Intensity", Korean Business Education Review, vol. 26, no. 2, pp. 171-194, 2011.
  44. Sirmon, D.G., Hitt, M.A. & Ireland, R.D., "Managing Firm Resources in Dynamic Environments to Create Value: Looking Inside the Black Box", Academy of Management Review, vol. 32, no. 1, pp. 273-292, 2007. DOI: http://dx.doi.org/10.5465/AMR.2007.23466005 https://doi.org/10.5465/AMR.2007.23466005
  45. Dong-Won Sohn, "The Role of Trust in the Creation of Economic Value in Organizations", Journal of Business Research, vol. 17, no. 1, pp. 285-312, 2002.
  46. ChulJae Choi, SangSeol Han, "A Study on Customer Equity Constructs Affecting the Trust, Dependence in B2B Market", Journal of Marketing Studies, vol. 20, no. 4, pp. 133-152, 2012.
  47. Soon Goo Hong, Hyun Jong Kim, Hyung Rim Choi, "The Conceptual Model of a SNS Platform for Co-creation", Journal of the Korea Society Industrial Information System, vol. 17, no. 3, pp. 95-104, 2012. DOI: http://dx.doi.org/10.9723/jksiis.2012.17.3.095 https://doi.org/10.9723/jksiis.2012.17.3.095
  48. Freeman, C., "Networks of innovators: a synthesis of research issues", Research policy, vol. 20, no. 5, pp. 499-514, 1991. DOI: http://dx.doi.org/10.1016/0048-7333(91)90072-X https://doi.org/10.1016/0048-7333(91)90072-X
  49. Chesbrough, H.W. & Appleyard, M.M., "Open Innovation and Strategy", California management review, vol. 50, no. 1, pp. 57-76, 2007. DOI: http://dx.doi.org/10.2307/41166416 https://doi.org/10.2307/41166416
  50. Byung-Hee Lee, "Firm Value Creation Effect of Global Collaborations for Technology Development: A Longitudinal Analysis of Korean Firms", The e-Business Studies, vol. 12, no. 2, pp. 121-135, 2011. https://doi.org/10.15719/geba.12.2.201106.121
  51. SR Park, OS Sung, "An Empirical Study for the Impact of Supply Chain Partnership on the Logistic Performance of Firms - Focusing on the Factors of Relationship and Cooperation -", KOREA INTERNATIONAL COMMERCIAL REVIEW, vol. 25, no. 3, pp. 111-133, 2010. https://doi.org/10.18104/kaic.25.3.201009.111
  52. Ngo, L.V. & O'Cass, A., "Creating value offerings via operant resource-based capabilities", Industrial Marketing Management, vol. 38, no. 1, pp. 45-59, 2009. DOI: http://dx.doi.org/10.1016/j.indmarman.2007.11.002 https://doi.org/10.1016/j.indmarman.2007.11.002
  53. Lindgreen, A., Hingley, M.K., Grant, D.B. & Morgan, R.E., "Value in business and industrial marketing: Past, present, and future", Industrial Marketing Management, vol. 41, no. 1, pp. 207-214, 2012. DOI: http://dx.doi.org/10.1016/j.indmarman.2011.11.025 https://doi.org/10.1016/j.indmarman.2011.11.025
  54. O'Cass, A. & Ngo, L.V., "Creating superior customer value for B2B firms through supplier firm capabilities", Industrial Marketing Management, vol. 41, no. 1, pp. 125-135, 2012. DOI: http://dx.doi.org/10.1016/j.indmarman.2011.11.018 https://doi.org/10.1016/j.indmarman.2011.11.018
  55. Jinah Choi, "Customer Value Creation Strategy of Service Companies -The Case of Shinsegae Corp. and its Implication for Aviation Companies-", Journal of the Aviation Management Society of Korea, vol. 10, no. 1, pp. 43-70, 2012.
  56. Thiry, M., "Combining value and project management into an effective programme management model", International Journal of Project Management, vol. 20, no. 3, pp. 221-227, 2002. DOI: http://dx.doi.org/10.1016/S0263-7863(01)00072-2 https://doi.org/10.1016/S0263-7863(01)00072-2
  57. Cristina, M., "Conflicts and value co-creation in project networks", Industrial Marketing Management, vol. 40, no. 8, pp. 1377-1385, 2011. DOI: http://dx.doi.org/10.1016/j.indmarman.2011.06.033 https://doi.org/10.1016/j.indmarman.2011.06.033
  58. Yin, R.K., Case study research: Design and methods, Sage publications, INC, 2009.
  59. Blomqvist, K., Hara, V., Koivuniemi, J. & Aijo, T., "Towards networked R&D management: the R&D approach of Sonera Corporation as an example", R&D Management, vol. 34, no. 5, pp. 591-603, 2004. DOI: http://dx.doi.org/10.1111/j.1467-9310.2004.00365.x https://doi.org/10.1111/j.1467-9310.2004.00365.x
  60. Kristensson, P., Matthing, J. & Johansson, N., "Key strategies for the successful involvement of customers in the co-creation of new technology-based services", International Journal of Service Industry Management, vol. 19, no. 4, pp. 474-491, 2008. DOI: http://dx.doi.org/10.1108/09564230810891914 https://doi.org/10.1108/09564230810891914

Cited by

  1. Identification of resources and competences for value co-creation in the relationship network of high-tech B2B firm vol.15, pp.7, 2014, https://doi.org/10.5762/KAIS.2014.15.7.4191
  2. Exploratory research on the dynamic capabilities of leading firms: Research framework building vol.16, pp.12, 2015, https://doi.org/10.5762/KAIS.2015.16.12.8262