Critically Exploring Value Destruction to Create More Value

Abstract

The purpose of this article is fourfold. The first is to get practitioners and academics understand the value of a value destruction focus. How can it improve value creation? This is a brand new area that has not hitherto received much attention. The second is to get practitioners to use this thinking more actively in building their strategy, operational thinking, compliance thought process and regulatory and political (environmental and external) thinking. The third is to open up a new area of research for academics who work on various subjects where value creation is a goal or is important. Perhaps they can analyse past failures and come up with recipes for greater value creation and a process for analysis before committing to a path of action or they can find better processes for looking at, designing, developing or monitoring strategy, new products and services, new technologies and new operational thinking. What new tools can be developed to analyse or mitigate value destruction or simply foresee these? This should also open a debate and papers in Journal of Creating Value and perhaps lead to a special issue. What techniques can be used to change managerial mind-sets. Finally and fourth, the aim is to get away from reactive and 'after-the-fact' analysis to proactive value creation and reduce value destruction and learn from value destruction potential.

Research Directions for Value Co-Destruction in Banking Digital Transformation

“…The search terms for phase 1 were defined from the reading of top journals of the search field that were selected by search in Google Scholar from the number of citations. The list with the terms and references follows: co-creation [7], [12,[70][71][72]; co-destruction [7,12,70]; interactive value [70]; service-dominant logic [12,70]; digital transformation [7,73]; and value destruction [7,74,75].…”

Value Co-Destruction in Digital Banking Transformation: Research Propositions

“…The search terms for phase 1 were defined by reading the main journals in the search field that were selected by searching Google Scholar based on the number of citations. Below is a list of terms and references: Cocreation (Echeverri & Skålén, 2011b;Malar et al, 2019;Pee & Kankanhalli, 2009;Plé & Cáceres, 2010;Wataya & Shaw, 2019); Co-destruction (Echeverri & Skålén, 2011b;Malar et al, 2019;Plé & Cáceres, 2010); Interactive value (Echeverri & Skålén, 2011b); Dominant Service Logic (Echeverri & Skålén, 2011b;Plé & Cáceres, 2010); Digital transformation (Carlos, 2020;Malar et al, 2019); and Destruction of value (Canhoto and Claro, 2020;Mahajan, 2019;Malar et al, 2019).…”

Marketing, Value Creation and Values Dynamics: Gazing Out to Asia and Europe from Kitakyushu

“…One important value-creating activity often discussed is smart cities. For example, Mahajan (2019) deliberates on the value destruction and potential true value-creating actions in developing smart cities. The example cited by Mahajan is that of smart lighting, in which value destruction occurs using poles that constitute physical barrier-like infrastructure; instead, he suggests the use of drone-like mechanisms for streetlights.…”