Document Type



This study aims at identifying and analysing the key challenges in managing a network business. The starting point of the paper is the alleged need for new kinds of theoretical frameworks which take into account value creation situations businesses face today. Hence, this paper introduces the value co-production framework as an alternative perspective to the existing approaches built in the industrial era (i.e., value chain thinking). This framework elevates knowledge and relationships in the locus of business and argues for reconfiguration of roles, actions, and interactions among the networked actors.

Based on our study on a network-like, two years old joint venture firm, we demonstrate how the value co-production framework functions in practice. Moreover, we suggest that the future management competence lies in company’s ability to manage interactions, not individuals or individual companies. Thus, studying different kinds of network approaches in relation to proposed framework would give a deeper understanding of the ways by which networks and relationships drive value co-production.