Abstract
Purpose
There are increasing influences of stakeholder relationships in the contemporary entrepreneurial knowledge stream to co-create value, in order to jointly confront the market competition. However, current research implies a dichotomy to exist between the awareness of the necessity of stakeholder-centred strategic thinking and the actual implementation of strategies in entrepreneurial practice. The purpose of this paper is to close this gap, in order to understand how entrepreneurs could, strategically and operationally, enhance their stakeholders’ relationships to reinforce entrepreneurial co-creation. Since, co-creation propels innovation; entrepreneurs’ and their stakeholders’ well-being calls for urgent materialisation of the entrepreneurial co-creation concept.
Design/methodology/approach
A constructivist approach is applied to support findings to evolve a synthesis from literature to kick-off an academic debate on future research avenues on how to develop a co-creating entrepreneurial mindset.
Findings
The findings conceptualise the significance of relevant traditional and contemporary issues of stakeholder relationships and entrepreneurship to structure the entrepreneurial co-creation concept. Ten issues are recognised from the conjoint literature influencing the conception.
Practical implications
These insights will be useful for entrepreneurs to better align their entrepreneurial propositions with their stakeholder relationships to underpin value co-creation. Academics will be able to use these insights as a basis for future research towards entrepreneurial co-creation and are invited to join the debate.
Originality/value
The findings represent an innovative strategic direction towards a better understanding of the significance of stakeholder relationships, pertaining to entrepreneurial development in the contemporary marketplaces, and holistically conceptualise the entrepreneurial co-creation concept.
There are increasing influences of stakeholder relationships in the contemporary entrepreneurial knowledge stream to co-create value, in order to jointly confront the market competition. However, current research implies a dichotomy to exist between the awareness of the necessity of stakeholder-centred strategic thinking and the actual implementation of strategies in entrepreneurial practice. The purpose of this paper is to close this gap, in order to understand how entrepreneurs could, strategically and operationally, enhance their stakeholders’ relationships to reinforce entrepreneurial co-creation. Since, co-creation propels innovation; entrepreneurs’ and their stakeholders’ well-being calls for urgent materialisation of the entrepreneurial co-creation concept.
Design/methodology/approach
A constructivist approach is applied to support findings to evolve a synthesis from literature to kick-off an academic debate on future research avenues on how to develop a co-creating entrepreneurial mindset.
Findings
The findings conceptualise the significance of relevant traditional and contemporary issues of stakeholder relationships and entrepreneurship to structure the entrepreneurial co-creation concept. Ten issues are recognised from the conjoint literature influencing the conception.
Practical implications
These insights will be useful for entrepreneurs to better align their entrepreneurial propositions with their stakeholder relationships to underpin value co-creation. Academics will be able to use these insights as a basis for future research towards entrepreneurial co-creation and are invited to join the debate.
Originality/value
The findings represent an innovative strategic direction towards a better understanding of the significance of stakeholder relationships, pertaining to entrepreneurial development in the contemporary marketplaces, and holistically conceptualise the entrepreneurial co-creation concept.
| Original language | English |
|---|---|
| Pages (from-to) | 1250-1268 |
| Journal | Management Decision |
| Volume | 54 |
| Issue number | 6 |
| DOIs | |
| Publication status | Published - 11 Jul 2016 |
| Externally published | Yes |
Keywords
- Entrepreneurship
- Value co-creation
- Stakeholder relationship management