Abstract
The value co-creation strategy is adopted by companies in its relationships with stakeholders as a mechanism to improve the performance of its activities. Both from the perspective of Corporate Social Responsibility (CSR) practices carried out by companies, and from the approach of the mission that non-profit organizations (NPOs) must effectively fulfil, adopt the strategy of co-creation in activities, projects, programs, etc. that both entities jointly develop is essential to achieve the expected organizational and social value. However, although the value co-creation between companies and its stakeholders (mainly customers) has been substantially investigated in recent years, there is a significant gap in both theoretical and empirical research into the adoption by the NPOs of said management approach in its collaborative relationships with companies. Therefore, after reviewing the literature on co-creation, an NPO-business value co-creation scale is developed in the empirical part, consisting of four basic dimensions: participation, reciprocity, learning, and engagement. The proposed scale shows reliability and construct validity (convergent and discriminant). The main conclusions and practical implications that this management strategy has for organizations are presented.
Highlights
The objective of this paper is to develop a scale of non-profit organization (NPO)business value co-creation
The main objective of this paper is to develop a valid and reliable scale of measurement of a value co-creation strategy adopted by NPOs in its relations with private companies, which can serve as a strategic reference in the decision making of both parties involved in co-creation
NPOs must carry out a series of practices to effectively co-create with private companies
Summary
In the current competitive environment, in which networks and social relations are essential to promote the capacity to create value and achieve competitive advantages for the company (Polese, 2009), co-creation emerges as a process through which companies integrate individuals and citizens as active co-creators in all parts of the value chain (Ramaswamy, 2009). One of the key stakeholders for the companies with which to co-create is the non-profit organizations (NPOs) (Ramaswamy, 2009) In this sense, the joint development between the NPO and the company of an integrated business model and the delivery of mutual value is significant from the point of view of the Corporate Social Responsibility (CSR) strategy of the companies (Brugmann & Prahalad, 2007). The main objective of this paper is to develop a valid and reliable scale of measurement of a value co-creation strategy adopted by NPOs in its relations with private companies, which can serve as a strategic reference in the decision making of both parties involved in co-creation. The main conclusions and practical implications for NPO management, as well as the limitations and future lines of research, are established
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