MARK 451 Lecture Notes - Lecture 2: Co-Creation, Operand
17 Nov 2016
School
Department
Course
Professor
Document Summary
Service is the application of competences (knowledge and skills) by one entity for the benefit of another. Service science is the study of service systems and the co-creation of value within complex constellations of integrated resources. Centers on the participants, processes and resources that interact to create value in service systems. Value and value creation are at the heart of service and are critical to understanding the dynamics of service systems and to furthering service science. Created (manufactured) by the firm and distributed in the market, usually through exchange of goods and money. Ex: automobile fi(cid:396)(cid:373)"s p(cid:396)odu(cid:272)tio(cid:374) p(cid:396)o(cid:272)ess (cid:272)(cid:396)eates fo(cid:396) (cid:448)alue fo(cid:396) (cid:272)ustomers through the manufacturing and delivery of an automobile. That is, the car manufacturing firm embeds value in the automobile by transforming raw materials into something that customers want. In this sense, value is created by the firm in the form of a good, and this valuable good is exchanged in the marketplace for money.
