The evolution of value networks
Int'l J. of Networking and Virtual Organisations, 7 (4):
381--398 (2010)DOI: 10.1504/IJNVO.2010.032914
Abstract
Customers' needs for a product define the features and attributes
of its production. To meet these needs, a group of organisations
with complementary strategies, resources and capabilities link together
in a manner that all the participants of the consortium benefit.
Organisations act in these networks collectively to produce an output
that customers value enough to purchase it. However, the crucial
value features of products' progress constantly depend on customers'
needs. As a consequence, the value network is under a continuous
and, at least, partially capricious change. The paper explores why
and how the value network emerges and develops from the standpoint
of the existing value network theories. The evolutionary (life cycle)
perspective is used to combine the views of the different theories
to construct a view that explains at least some of the reasons behind,
first of all, the emergence and, secondly, development of value networks.
