Key Success Factors of Managing Co-Creation Experience

Abstract

Value co-creation in an ecosystem has transformed the role of companies and various actors. The overarching aim of this manuscript is to contribute to the understanding of the integrating role of companies and identify the key factors underpinning successful co-creation practices. The study utilizes a mixed method; while the qualitative approach defines how value co-creation occurs in the banking industry, the quantitative approach endeavours to understand whether value co-creation impacts the innovation strategy of banks. The findings indicate that collaborative working affects the degree of innovativeness of a company and, consequently, its perceived market performance. Resource integration in a multi-actor setting is complex and this study paves the way for further research into the values underlying the success of co-creation and provides a guide for successfully integrating the roles of actors in an ecosystem.

Keywords: value co-creation, innovation, financial services, inter-firm networks, resource integration