Title: Business ecosystem perspective on value co-creation in the Web 2.0 era: implications for entrepreneurial opportunities
Authors: Thuong T. Le, Monideepa Tarafdar
Addresses: Department of Marketing and International Business, College of Business Administration, University of Toledo, Toledo, Ohio 43606, USA. ' Department of Information Operations and Technology Management, College of Business Administration, University of Toledo, Toledo, Ohio 43606, USA
Abstract: Firms such as Facebook, Google and MySpace are rapidly emerging as leaders of what is known as the |Web 2.0| era of commerce. The common distinguishing characteristic of these firms is the primary basis of the value they provide, namely a forum for iterative collaboration and interactive content creation and modification for users. Their strategies underlie an important, currently unfolding phenomenon – that of |value co-creation| and a transformation in the way value is created and experienced by producers and consumers. It is the intent of this article to analyse this phenomenon and its implications for entrepreneurial opportunities. Drawing from an interdisciplinary body of literature in networked organisations, Web 2.0 technologies and innovation, we identify the trends driving this transformation, the process by which it is accomplished and its outcomes. Our analysis lays out a theoretically grounded explanation for the occurrence of value co-creation and consequent opportunities for entrepreneurship, and provides direction for future research.
Keywords: value co-creation; Web 2.0; networks; business ecosystems; entrepreneurial opportunities; crowdsourcing; entrepreneurship.
International Journal of Entrepreneurial Venturing, 2009 Vol.1 No.2, pp.112 - 130
Published online: 04 Nov 2009 *Full-text access for editors Access for subscribers Purchase this article Comment on this article