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Value Co-Creation – Are Your Stakeholders Satisfied?

Value Co-Creation – Are Your Stakeholders Satisfied? May 6, 2021

A successful business works with their customer to co-create value. While this is more prevalent in the COVID-19 era, it’s something that service providers should have done before the pandemic and something they should strive to do long after we’re all vaccinated and things are back to “business as usual”. 

From an IT perspective, IT services are involved in all areas of the business. To ensure their stakeholders are satisfied, IT has to customize the technology to meet their customer’s needs. The days of a one size fits all solution are long gone and in its place is a new approach – value co-creation.   

The concept of value co-creation is important to ITIL®4. It focuses on continual improvement within the service value chain, ensuring that organizations and employees are working together to improve their service. 

Let’s use Zoom as an example. Zoom is consistently making changes to their product to improve the experience based on user feedback. They are remaining competitive in the industry by co-creating value with their customers. 

More and more industries are going to have to embrace this new way of doing business to remain successful.  

Click here to read a more in-depth perspective of value co-creation from AXELOS.