Small and Medium-Sized Businesses in Malaysia Can Look Forward to the Future of Co-Creation, a Literature Review

Abstract

Purpose: The fundamental objective of the study is to provide Malaysian SMEs with a competitive edge by creating a knowledge infrastructure around the co-creation phenomena and pinpointing the existing gap in prior understanding of co-creation. Theoretical framework: The study provides a summary of the literature on topics such as form, success, origins, definitions, diversity, competitive advantage, differentiation, co-creation innovation, the notion of collaborative advantage, and the DART model for co-creation. The theory and model codes that were uncovered as part of the literature review provided a solid foundation upon which to build further investigations. Design/methodology/approach: This is a descriptive-based study. The literature review within that article will stress the need for top-level management to know about the positive effects of customer co-creation. Findings: Co-creating value with customers has the potential to increase brand equity, but this has not been well studied, especially in the context of small and medium-sized businesses. To address these research gaps, this study delves into the topic of co-creation among clients of small and medium-sized enterprises (SMEs) in the service sector. Conclusion: It looked into and offered writings on a wide variety of topics, including the landscape of forms, success, and beginnings; definitions; diversity; competitive advantage; uniqueness; and co-creation innovation. The codes from the theory and model would be used to build clusters and emergent themes in the literature review, which would then serve as the basis for further studies.