The traditional linear view of the value chain focuses on the design and optimiz- ation of a minimized number of business functions. This typically results in a single access point of exchange where customers select between a number of product or service options based on a company’s view of value and price. This view emphasizes the need for companies to identify and cooperate with the right partners and suppliers in making the value chain output predictable, manage- able and repeatable. It is based on simplistic product-centric business mod- els focusing on the development of the right combinations of features that would make a product or service most attractive to customers as compared to competitive alternatives. The company becomes knowledgeable about customer needs and preferences by means of market re- search, ethnographic studies, and expert views. The company could involve lead users at the early stages of development but, once the product is developed, it is targeted at all customers. No matter how good the company is in guessing, learn- ing, or manipulating customer needs and preferences, the linear model works with- in the context of a “one product fits all” philosophy. The fundamental assump- tion is that value is built in products or services developed by the company for the customers. A key component is that companies create value by assigning fea- tures in the anticipation that this will make the products and services likable to the largest possible group of target cus- tomers. Customers have no access to the internal dynamics of the value chain and are left with a ‘yes’ or ‘no’ choice. It pre- defines the main operational concerns to optimization of the value chain, custom- er demand management, product and technology innovation, product diversity and support.
ences. The initiation of dialogue during co-cre- ation requires a forum with clear rules of engage- ment leading to an orderly, productive interaction within emerging thematic com- munities. The focus on Access challenges the no- tions of openness and ownership. Providing customer access to resources, information, tools, assets, and processes at multiple points across the value network provides companies with innovative ideas about new products and services, new business opportunities, and new potential markets. As customers become co-cre- ators of value, they become more vulnerable to Risk and demand more information about the potential risks associated with the design, manu- facturing, delivery, and consumption of particu- lar products and services. Proactive risk communication and management offers com- panies with new opportunities for competitive differentiation. Transparency builds trust between both institutions and individuals. It en- ables a creative dialogue in which trust emerges. When companies make vital business process in- formation available to consumers, they hand over part of the control of the valuecreation pro- cess. Empowering customers with such control becomes a key component of companies’ cus- tomer relationship management and differenti- ation strategies.
Furthermore, for the co-creation process to be implemented on the creation of unique tourism experiences, there are several elements that need to exist (Buonincontri et al., 2017). For instance, the tourists need to have access to external sources of information that allow the consumer to make autonomous and responsible decisions about the chosen destination and the design of the trip (active participation), through recommendations of friends and family members (word-of-mouth) or through references from experienced individuals that produce consumer generated content (related to the destination) on ICT platforms, like social networks and tourism blogs (Fotis, 2015). Besides, there needs to be an interaction between the tourism service providers and the tourist (pre- exchanged discussion) and a tourist-interaction platform that facilitates the process, so that the firms and destinations understand tourists’ needs and expectation, thus creating a more personal and satisfying experience (Neuhofer, Buhalis & Ladkin, 2012; Buonincontri et al., 2017). Lastly, to enable the co-creation of tourism experiences for other potential tourists, the consumer must share the experience with others, in order to influence them and give them the knowledge they need to actively participate in the design of their own trips (Neuhofer, Buhalis & Ladkin, 2012; Buonincontri et al., 2017). Therefore, the tourist experience co-creation is a crucial strategy for the tourism industry and tourism destinations and “an innovative way to live differently the tourist experience” (Berrada, 2017: 18).
Smartphones are a symbol for social power and identity which makes the study of the perception consumers might have about these products relvant to market success. Katz (2003) tried to capture the idea that a mobile phone could become a second smaller version of us. And close to the fashion reality Veblen (1934) among others realized that by wearing fashion outfits individuals separate themselves from their family in order to create their own identity. People can use fashion as a way to present themselves to others (Steele, 1997). Fashion can then also be seen as a form of communication as are mobile phones. Lee and colleagues (2011) studied how technology products are a reflection of our personal lives and “deliver symbolic meaning which enables the expression of private experiences” (p.1996). So maybe the effects in fashion and smartphones of co-creation could be similar. Adding to that, Ahearne, and colleagues (2005) concluded that Company- Customer identification positively influences the behaviours towards the products, even when the brand effect is accounted for, and identifies some attributes that contribute to the development of Company-Customer (C-C) identification such as the organization characteristics: with positive organization characteristics then there is a higher development of C-C identification.
This thesis aims to better understand the differences between users that opt in and out of co-creation by analyzing potential costs of participation (in terms of time, risk and effort) and analyzing the perceived benefits that influences and (de)motivates users to co-create. The perceived benefits tested include hedonic, utility and individualism benefits, and user perceptions of fairness invalue distribution. Demographic variables were tested for profile building purposes. Independent-samples t-test and Chi-square tests were employed to compare and contrast users’ likelihood of participation and evaluate mean scores of each variable. Data was collected through an online questionnaire was administered to 231 participants. Results determined that the perceived benefits are statistically significant thus effect users’ likelihood of participation and that the higher the perceived cost in participation, the less likely a user is to participate. These findings hold implications for how firms should approach co-creationdesign and how they should structure marketing communications to increase participation rates.
Although the benefits outweigh critical aspects of consumer involvement, there are still concerns about the quality and efficiency of new product development as well as the expansive costs for the consumers. To be able to start, co-creation requires either investment of monetary or non-monetary nature from consumers (e.g. costs of time, resources, physical, and cognitive efforts to learn) and might imply possible risks for the consumer (e.g. the risk of experiencing a failure despite the investment made, which can result in a lack of freedom of choice for consumers; Bolton and Saxena-Iyer, 2009; Etgar, 2008). In the context of risks in quality and efficiency, Ulrich (2007) and Ulrich and Eppinger (2008) underlined the importance of consumer involvement in ideation, but professionals should still be in charge of the technical, procedural, and intellectual design due to acquired skills and capabilities and increasing consumer knowledge. In general, Piller and Walcher (2006) determined that product innovations based on professional-screened ideas are likely to be more sophisticated, but may not serve consumer needs better than concepts based on consumer-screened ideas. Further, Kristensson et al. (2004) argued that professionals stress the feasibility of product ideas and focus on convergent design thinking leading to a lack of novel products. As discussions about the innovativeness from a company’s professionals and consumers were inconclusive, Poetz and Schreier (2012) confirmed that products from professionals are both less novel, less qualitative and less consumer beneficial than consumer co-created innovations, but bear higher feasibility, which is not relevant for the final consumer in terms of attractiveness. This study clearly constitutes an advantage of innovations with consumer integration over products solely designed by professionals.
Examples of sentences from interviews: “That’s it, I think that wine, all products are demanding, but wine demands a bit more, because wine is something related with taste and taste is something that varies from one person to another.”; “In wine, some prefer Alentejo, some on the other hand like Douro more. Here, there’s a major emotional component, that’s to say, it’s not necessarily, probably to give you another example, in detergents, there doesn’t necessarily have to be the good and the bad. It depends a lot on emotions, on the sentiment and value each person gives. Wine can, probably, be good for me and not be so good for you, depending on your personal taste. It has that part of emotions and personal judgement, of subjectivity, and then it has a history, we manage to tell a history in relation to our articles, in relation to brands, the way they grew, the way the vines were planted, the soil, the vines quota, how often it’s watered, that’s to say, the part of wine tourism, also, we manage to capitalize on, our partners.”
projects is the difficulty in assessing the „Social Return on Investment' (SROI), e.g. the value created beyond financial terms. In the case of LsR, however, any additional revenue of the project (in terms of works done) represents additional revenue for the beneficiaries of the same, and thus, the socialvalue created is directly related to the financial value achieved. Moreover, besides the changes in the income received by the seamstresses, other non-financial categories are taken into account, e.g. the level of satisfaction towards their professional life, towards their life in general and the “empowerment” created by participating in the project. These categories are clearly more difficult to measure, however, personal interviews, surveys and group meetings have been performed regularly, in order integrate the beneficiaries in the valuecreation process and make them feel not just receptors but creators of their own destiny.
intact, as the game developers desired. Most examples given in the literature analyze Auran’s game “Fury” (a failed MMO) since it was the first time a company looked into the players beta testing and feedback for guidance , even though it ended up failing for not knowing how to balance both sides of the feedback – what the gamers wanted and what the developers desired. ‘Co-creative expertise’ is very much about how these diverse and conflicting forms of knowledge and expertise (both amateur and professional) interact and converge (John Banks, 2010). So while adding value to firms, this co-creative gamer concept moves the business models towards a more open innovation system. With the gaming technology available nowadays, most expert players have knowledge and understanding of videogame design and aesthetics. They recognize a good game when they play and can often carefully break down and articulate what makes a high-quality game play experience. Therefore, the co-creative gamer is now an important driver for the evolution of this sector.
The hospital Manjunath et al. (2007) study has gotten ISO certification ISO certification. Hence in our research and Manjunath et al. (2007) study the score of process management was acceptable. But that does not address the people issues specifically employee motivation, leadership style, social concerns and what should be improved in order to gain a competitive position. So the Baldrige health care criteria would provide a good framework to analyze quality management practices in the case hospital that has obtained ISO certification and strives for continuous improvement based on TQM principles including committed leadership, customer focus and satisfaction, process improvement, service design, human resource management and social responsibility.
Slow food and slow fashion are visions that are conceived within a slow macro-cultu- re, that definitely change the economic and social practices by introducing them and incor- porating them within their culture as part of the debate. These conflicting visions raise new questions, not on the ability to produce more, but on the socio- cultural and ecological con- sequences. Slow fashion is not seen as an obstacle or slowing fast system of production and consumption but rather, as a change of the system, defying growth and globalisation to safeguard the durability and diversity of a new and standardised system. Slow fashion propo- ses new work systems based on co-creative experiences. These models are changes in the relations of consumption and production brought about by the new consumer attitudes and new social policies, which are based on a new development system, extending the creative boundaries to the public and their real needs. This new system, which promotes relations of trust and intensifies the states of consciousness, connectes: communities of manufactu- rers, artisans, designers and customers through a model of ecological, social and productive growth that sells less for more. This model invites reflection on the true value of things, con- sidering the product at a higher rate of value to protect the ethical principles of respect and social awareness. Participatory design practices are at the core of this collaborative system from which the concept of co-design emerges and evolves.
A market in which access to the product is limited and depends on a long-term relationship between producers and roasting companies is an organic coffee market (Claro & Claro, 2004). The value appropriation of high-quality organic coffee depends on both a premium product and the willingness of buyers to focus on a win-win situation (Claro & Claro, 2004). There are other initiatives in the main coffee-producing countries that especially benefit small producers by generating more value-in-use for them through more economic and social benefits allied to a collaborative environment. In developing countries, incentives for producers that participate in the fair- trade coffee market illustrate how producers can achieve higher income and better quality of life through more economic value and consequently more value-in-use (Arnould, Platina & Ball, 2009; Brenes et al., 1997). Similar to this initiative, organizations encourage the certification process with the aim to develop local communities economically, helping them realize more value-in- use from their best-quality beans. On the other hand, production of the best-quality beans represents higher production costs. Producers need to acquire equipment for pulping and drying the beans and also develop new distribution strategies, because these beans are sold in smaller lots (Guimarães et al., 2016). Then, sometimes, the premium price obtained does not seem to compensate for transactions from cooperatives that offer tax advantages or for situations when coffee prices are high. Developing more long-term strategies should be a focus of specialty coffee producers. Unfortunately, not all of them have a background that favors the abilities needed to develop long- term strategies, as most of them focus on short-term results that can guarantee their subsistence. The above-mentioned initiatives seem to look for an increase in the producers’ capacity to develop strategies based on both the bean price in the commodity market and the long-term market position for which they aim.
Further one, this perspective recognizes that the users are exposed to the risk of “valueco-destruction”. Gronroos and Voima, (2013) frame it as a part of the valueco-creation process where the provider’s engagement with the consumer’s interaction on valuecreation may have a negative effect. This can be the result of mismanagement or an unwanted approach to the customer. It can have a significant or, insignificant impact on value determination. Laamanen and Skalén (2015) call for researchers to implement the conflictual perspective in their future studies, as it contributes to a more holistic perspective on valueco-creation theory. In the context of research, such negative consequences include the feeling of social anxiety caused by interacting with a stranger, diminish security and guarantees in what it comes to resources available in the house. Also, the guest is also able to destroy or damage resources, causing a liability to the host.
An amplifier is an electronic device that increases the power of a signal. An audio amplifier is an electrical circuit and that produces sound louder. It does this by taking energy from a power supply and controlling the output to match the input signal shape but with larger amplitude. There are many forms of electronic circuits classed as amplifiers, from Operation Amplifier and Small Signal Amplifiers up to Large Signals and Power amplifiers. Amplifiers circuits form the basis of most electronic systems, many of which need to produce high power to drive some output device. Audio amplifier output power may be anything from less than 1 Watt to several hundred Watts. Radio frequency amplifiers used in transmitters can be required to produce thousands of kilowatts of output power, and DC amplifiers used in electronic control systems may also need high power outputs to drive motors or actuators of many different types. In the following discussion, the focus will be on power amplifier used in our daily life. Power amplifiers may be used in musical fields such as musical band, orchestra, karaoke rooms, cinemas, theatres and so on. Nowadays, listening to music is one of the ways for relaxation. Therefore, it is necessary to produce the good quality loud sounds. To produce loud sounds, amplifiers are essential things. There are four basic types of amplifier in electronic field: the voltage amplifier, the current amplifier, the Trans conductance amplifier, and the Trans resistance amplifier. The output power of the power amplifier is 300Watt. This audio power amplifier can be used in Classroom. Amplifiers can be thought of as a simple box or block containing the amplifying devices, such as a transistor, field effect transistor or op-amp which has two input terminals with the output signal being much greater than that of the input signal as it has been amplified. Audio Power Amplifier can be designed as
sometimes diverge from the best interest of the principal (Jensen & Meckling 1976). This phenomenon of agency conflicts is especially applicable in public firms, where interests between the shareholders (principal) and managers (agents) are often divergent. Amongst others, corporate governance is one of the most frequently discussed theories, that antagonizes the agency conflict. Thereby, the corporate governance mechanisms assist to reduce the agency problem by supervising management, as for instance through board control, direct shareholder supervision and external auditors (Watts and Zimmerman 1990; Adams 2010; Desender et al. 2013). However, limiting the agency problem by supervising managers comes with a cost, that academic literature calls, agency cost. Agency costs thereby comprise the sum of the cost of counteracting measures as well as the loss, that is caused by managers deviating behavior, which can not be prevented by the aforementioned measures (Jensen and Meckling 1976). The dynamics of corporate governance and the associated agency costs are very different in LBOs and going private transactions. Kaplan & Strömberg (2009) denote private equity firms more active involvement in corporate governance and stricter control of the board as “governance engineering”. Former research by Jensen (1989) already criticized the operating inefficiency in public corporations, due to the failure of being effectively able to monitor management. The engagement of active investors, such as private equity firms, might thereby “recapture the lost value (…) using debt and high equity ownership to force effective self monitoring” (Jensen 1989, p. 8). Next to the “control function of debt” (Jensen 1986, p.325), private equity firms often, replace the top management of the acquired companies and even staff seats of the board with their own people. Guo et al. (2011) analyze a sample of 192 LBOs between 1990 and 2006 and detect, that the former CEO is replaced in more than one third of the analyzed transactions. Besides, they identified that on average more than 50% of the board seats are occupied by affiliates of the PE firm (Guo et al. 2011). These changes in the corporate governance structure of portfolio companies are therefore likely to lower the agency costs of the portfolio company (Kaplan 1989b). Yet, most of previous studies do not engage with another form of agency problem, that concerns the choice of capital structure in leveraged buyouts. Axelson et al. (2013) suggest, that due to their option like compensation, general partners of private equity firms might use leverage ratios that exceed the amount of debt that is in the best interest of people that invested in the fund (LPs). The relative importance of both effects might be an interesting field for future academic research.
Another important finding provides further evidence on the impact of industry level practices on irm-level stakeholder management. As has been demonstrated in previous research (e.g., Hofman, 1999), industry context is vital in terms of setting standards for how stakeholder practices are implemented and how stakeholders are prioritized and recognized by irms. his study simply adds more fodder to the importance of the industry context. Our indings suggest that something as holistic as valuecreation models may diffuse over time throughout industries. Unfortunately, because we do not have longitudinal data tracking the movement from narrow to broad valuecreation models, we cannot say how or through what mechanisms this difusion happens. Our results also show that industries difer in their scopes of valuecreation. In particular, banks appear to have already grasped the broad valuecreation model. his might be due to the highly regulated environment in which they operate, with the government requiring banks to be more proactive in their reporting practices. A similar trend and interpretation of the results applies to the utilities sector. he food industry is mostly in the narrow valuecreation model, with some irms just starting the transition from narrow to broad valuecreation models. his is not a surprising result given that this is a highly competitive sector in Brazil, with a major focus on customers. Although these indings suggest that diferences invaluecreation models in varying industry sectors exist, it should be noted that they are based on an exploratory study and merit further examination.
The current study has limited results concerning the explanation of identification with mobile devices on the intention to use mobile services. Further research should be directed to the identification effect in order to verify if this can explain the intention to use mobile services. In addition, perceived ubiquity could explain the different perceptions of mobile services and desktop services (Okazi and Mendez, 2013), this explanation is not considered in this study. Furthermore, because of reliability issues, not all variables consist of three or more items. A more extensive study to the constructs can be added to particular constructs. In addition, mobile transaction services are driven particularly by utilitarian value (Nysheen & Thorbjernsen, 2005), rather than hedonic value. An interesting extension of this research would test the mobile valuecreation model and the moderating effects with a mobile service that is particularly hedonic driven. Those services could be mobile communication and entertainment services (Nysveen & Thorbjernsen, 2005). To continue, another limitation that it only measures the behavioral intention of the consumers, rather than the actual behavior. Studies report mixed results where some researchers find evidence for close correlation (e.g., (Morris, 2000; Venkatesh & Davis, 2000), while others reported a weak link (Wang, Lin, & Luarn, 2006). An interesting extension of this research would be investigating this link. Finally, another possible extension of this research could be to investigate more specific costs and benefits of mobile service creation. This study limited only focus on six antecedents, an extension could investigate more interesting value drivers for mobile services.
will loop to load EEPROM. When there is no new data from Bluetooth, PIC will drive all the control circuits according to the data from EEPROM. When PIC receives “#”, the past conditions of the control system will be displayed on android apk. To avoid signal collision, different intervals of ASCII characters were managed separately in Android Application Package Design. According to the following table, each seek bar in Android provides specific code for transmission.
While the customer expresses what they know and their preferences, the salesperson begins to create a mental map of user needs. Based on customer needs, the salesperson will begin to identify the pieces of knowledge that can help the costumer in their particular situation. To help a customer make a decision, the salesperson sorts knowledge relevant to that particular individual regarding product characteristics, functional attributes, information about common problems, substitute products, maintenance information, quality records, competitive products, and options. The knowledge identified by the salesperson should be articulated and presented to the customer not necessarily as pressure for a sale but as a genuine effort to assist in the decision-making process. The customer in turn feels more comfortable making a decision that satisfies their needs and returns to the store to satisfy future needs. The determining factors, in this sorting mechanism, are the customer's knowledge of the product and firm, the amount of information the customer needs, the type of information appropriate to meet the customer's needs, and the time available for the interaction. Once the factors have been initially determined, the salesperson presents the pieces of knowledge he has identified to the customer. This facilitates the process of creating long-term partnership with the customer .
This effect is deeply explained in association with brand personality. Brand personality is built with the symbolic factors that consumers link to a brand. By consuming their content, going to their stores, seeing the ads and absorbing information, consumers retract and analyse certain traits that they feel like it describes the brand. The more closely they look for it and the more positive aspects they associate with it, the bigger the humanisation, which means attributing human traits to a brand (e.g. being kind, funny, friendly, etc (Aaker 1997). As in human relations, when we appreciate someone’s personality, we develop a bigger linkage to that person, the same happens with brands, as if consumer’s self-concept is a good match with the brand personality, it is said to have a self-congruity, which describes the closeness between the consumer and the brand (Yusof & Ariffin 2016).