Smyth, HJ;
Razmdoost, K;
Kusuma, I;
(2016)
Innovation and the co-creation of value in construction.
In:
RICS COBRA 2016: The Construction, Building and Real Estate Research Conference of the Royal Institution of Chartered Surveyors.
Royal Institution of Chartered Surveyors (RICS): Toronto, Canada.
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Abstract
Construction businesses balance market and project risks in resourcing innovation and value creation. Technical, technological and management innovation are considered using the marketing lens of the service-dominant logic. The co-creation of value is a primary concept, which is largely unexplored in construction, especially related to innovation. Co-created by main contractors and clients is defined as value generated in context and use. The paper is part of a programme of work, applying an interpretative qualitative approach. The method for data collection was semi-structured interviews, derived from six major international main contractors. Thirty-nine interviews were conducted with a range of senior management, functional heads and project managers responsible for identifying innovation and value creation opportunities. The overall findings fall into three main areas. First, management perceived construction to be suppliers of technical expertise. Second, projects are perceived in terms of expert inputs. Third, associated tasks are conducted to meet programme schedules and requirements. Opportunities to co-create value are largely pursued reactively and opportunities to innovate through top down or project induced capabilities are largely overlooked. Where innovation occurred it was largely initiated through a combination of co-creation drivers supported by management pull factors rather than innovation drivers and a technology push.
| Type: | Proceedings paper |
|---|---|
| Title: | Innovation and the co-creation of value in construction |
| Event: | RICS COBRA 2016 |
| Location: | Toronto |
| Dates: | 22 September 2016 - 24 September 2016 |
| ISBN-13: | 9781783211609 |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://www.rics.org/uk/knowledge/research/conferen... |
| Language: | English |
| Additional information: | This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Contractors, Innovation, Marketing, Service-dominant Logic, Value Cocreation |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett Sch of Const and Proj Mgt |
| URI: | https://discovery.ucl.ac.uk/id/eprint/1502187 |
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