Research rationale Sample Clauses

Research rationale. As the distinction in roles of production by suppliers and consumption by customers become blurred (Xxxxx and Xxxxxxxxxx 1995; Xxxxxxxx and Xxxxxxxxx 2004b; Ford et al. 2006), concomitantly there is increasing interest in understanding the process of how value is created through interaction in business relationships (Forsström 2005a; Xxxxx and Xxxxxx 2006). In business relationships, the interactions occur largely at areas of collaboration and these essentially are areas of collective action between customers and their suppliers. The collaboration is contrary to the mindset of maximizing profit through opportunistic behaviour and autonomy. In the context of joint creation of value by customers and suppliers in relationships, the exchange process is superseded by co- creation. The increasingly competitive, dynamic, interconnected and informed world is creating opportunities for new ways of co-creating value and it is essential that these are identified and understood. Understanding the dynamics of value co-creation is particularly important for managers considering what business opportunities they are likely to lose if they may not understand how value is co-created in business relationships. Such information is also relevant to the academic fraternity especially those interested in understanding the emerging new ways in which value is co-created and thus a new definition of value.