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Value Co-creation in Stakeholder Relationships: A Case Study

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Stakeholder Engagement: Clinical Research Cases

Part of the book series: Issues in Business Ethics ((IBET,volume 46))

Abstract

The purpose of this article is to deepen our understanding of co-creation of value in stakeholder relationships. The authors present a case study on the process of strategic transformation in a medium-sized company providing industrial services. The purpose of the study is to analyze how different stakeholder perspectives join in determining what is perceived as valuable in business operations. Stakeholder relationships are studied during a three-year period when the company transformed from a division of a large industrial corporation into an independent service company. The data was collected through personal interviews and from Intranet documents, and analyzed with qualitative content analysis. Management, personnel, customers and owners are the key stakeholders in transformation of value creation. Based on the study, five elements of stakeholder relationships were identified as important in transformation of value creation: (1) History of the relationship, (2) Stakeholder’s objectives, (3) Interaction in the relationship, (4) Learning and information sharing and (5) Trust. The study contributes to literature on value creation by highlighting the complexity of stakeholder relationships and by showing that the salience of stakeholder relationships varies during the transformation.

This chapter is a revised and expanded version of a paper entitled ‘Co-creation of value in stakeholder’ presented at International Conference for Management Cases (ICMC), Greater Noida, India, 29–30 November 2012.

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Author information

Authors and Affiliations

  1. Faculty of Management, University of Tampere, Pyynikintie 4, 33230, Tampere, Finland

    Johanna Kujala

  2. Faculty of Social Sciences and Business Studies, University of Eastern Finland, Kuopio, Kuopio, Finland

    Hanna Lehtimäki

  3. University of Tampere, Tampere, Finland

    Päivi Myllykangas

Authors
  1. Johanna Kujala
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  2. Hanna Lehtimäki
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  3. Päivi Myllykangas
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Corresponding author

Correspondence to Johanna Kujala .

Editor information

Editors and Affiliations

  1. Darden School of Business, University of Virginia, Charlottesville, Virginia, USA

    R. Edward Freeman

  2. Faculty of Management, University of Tampere, Tampere, Finland

    Johanna Kujala

  3. Institute for Strategic Management: Stakeholder View, HWZ University of Applied Sciences in Business Administration Zurich, Zurich, Switzerland

    Sybille Sachs

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Kujala, J., Lehtimäki, H., Myllykangas, P. (2017). Value Co-creation in Stakeholder Relationships: A Case Study. In: Freeman, R., Kujala, J., Sachs, S. (eds) Stakeholder Engagement: Clinical Research Cases. Issues in Business Ethics, vol 46. Springer, Cham. https://doi.org/10.1007/978-3-319-62785-4_2

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