How Value Co-Creation can Boost Your Innovation Process Significantly

Value co-creation is a hot topic in the innovation industry that involves collaboration between diverse stakeholders to satisfy heterogeneous needs and expectations. It is an interactive process aimed at increasing the value of a product or service. While potentially beneficial, it also leads to divergent goals and interests, communication difficulties, and conflicts over value appropriation. The engagement of individual actors over time is crucial, and constituents should be involved in platform development to ensure optimal solutions. Building trust and empowering participants are key elements of successful value co-creation.