Value creating ecologies : understanding next generation business systems

Hearn, Gregory N. & Pace, Cassandra A. (2006) Value creating ecologies : understanding next generation business systems. Foresight, 8(1), pp. 55-65.

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Purpose: This paper sets out to describe and illustrate an emerging shift in the conceptualisation of value creation in business, namely the emergence of value ecology thinking.-----

Design/methodology/approach: This paper examines shifts in the understanding of value creation in key business, economic and innovation literature and focuses on developments in creative industries at the forefront of technology and innovation – film, TV, computer games, e-business, mobile phones – to illustrate how business increasingly creates value through ecologies.-----

Findings: This paper identifies five important shifts in the conceptualization of value creation by highlighting a growing prevalence in the literature of several ecological metaphors used to explain business processes, namely: the shift from thinking about consumers to co-creators of value; the shift from thinking about value chains to value networks; the shift from thinking about product value to network value; the shift from thinking about simple co-operation or competition to complex co-opetition; and the shift from thinking about individual firm strategy to strategy in relation to value ecologies.-----

Originality/value: This paper synthesizes emerging trends in the literature in relation to value creation and defines the concept of a value-creating ecology. In the process it sheds light on the structure of next generation business systems.

Impact and interest:

33 citations in Scopus
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ID Code: 20909
Item Type: Journal Article
Refereed: Yes
Keywords: Innovation, Business policy, creative ecologies, creative digital industries
DOI: 10.1108/14636680610647147
ISSN: 1463-6689
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > OTHER ECONOMICS (149900)
Australian and New Zealand Standard Research Classification > STUDIES IN CREATIVE ARTS AND WRITING (190000) > FILM TELEVISION AND DIGITAL MEDIA (190200)
Divisions: Current > QUT Faculties and Divisions > Creative Industries Faculty
Copyright Owner: Copyright 2006 Emerald
Deposited On: 01 Jun 2009 06:08
Last Modified: 09 Jun 2010 13:41

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