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Entrepreneurial co‐creation: societal impact through open innovation
Author(s) -
De Silva Muthu,
Wright Mike
Publication year - 2019
Publication title -
randd management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.253
H-Index - 102
eISSN - 1467-9310
pISSN - 0033-6807
DOI - 10.1111/radm.12362
Subject(s) - underpinning , exploit , open innovation , value capture , business , value (mathematics) , value creation , co creation , profit (economics) , resource (disambiguation) , knowledge management , social innovation , entrepreneurial orientation , marketing , entrepreneurship , industrial organization , public relations , economics , political science , computer science , engineering , computer network , civil engineering , computer security , finance , machine learning , microeconomics
New open innovation initiatives, such as accelerators, living labs, social innovation labs and open labs, involve for‐profit and not‐for‐profit actors working closely together to co‐create both business value and societal impacts. However, there is a lack of theoretical underpinning to understand how and why co‐creation by actors generate different types of social value in the concurrent pursuit of business and social value. Adopting an inductive case study approach, we find that different types of entrepreneurs who co‐exploit co‐identify opportunities for co‐creation, generate potentially competing social and business values. We develop four propositions relating to how and why profit orientation and key resource contributions of entrepreneurs co‐identifying an opportunity to co‐create decide the nature of social value generated. We discuss avenues for future research and practical implications, underlying the importance of developing entrepreneurialism as ways to generate different social impacts through open innovation approaches, such as co‐creation.