definition for: #cocreation

Refers to the concept that all real value (value-in-use or value-in-context) can only be co-created with the customer (or beneficiary) in service-for-service exchange. This is opposed to the idea that a firm creates or adds value in a "value stream" and then delivers accumulated value-in-exchange to a customer. Co-creation recognizes value can only be realized in the context of use. Value is not something one actor can create and deliver to another. When understood, this opens the mind to all manner of novel and innovative value co-creation opportunities.