Digitalization-enabled evolution of customer value creation: An executive view in financial services

Ilkka Lähteenmäki; Satu Nätti; Saila Saraniemi

doi:10.1016/j.jbusres.2022.04.002

Digitalization-enabled evolution of customer value creation: An executive view in financial services

Ilkka Lähteenmäki, Satu Nätti, Saila Saraniemi

CERS - Centre for Relationship Marketing and Service Management, Helsinki

Research output: Contribution to journal › Article › Scientific › peer-review

Abstract

Digitalization and related transformation in services is disrupting existing businesses and changing the positions and roles of incumbent and new players in the industry, as well as customers. This study aims to create an understanding of how digitalization has driven change in customer value creation, and how companies can enhance customers’ digital value creation in the present situation. For this purpose, we conduct a qualitative inquiry and use inductive logic with rich data from the represented industry – the financial sector – which enables us to detect the evolution of value creation during the last thirty years from an executive perspective. Our contribution is based on defining change processes involved in the evolution of customer value creation due to digitalization and revealing its microfoundations.

Original language	English
Peer-reviewed scientific journal	Journal of Business Research
Volume	146
Pages (from-to)	504-517
Number of pages	14
ISSN	0148-2963
DOIs	https://doi.org/10.1016/j.jbusres.2022.04.002
Publication status	Published - 06.04.2022
MoE publication type	A1 Journal article - refereed

Keywords

512 Business and Management
Value creation
Microfoundations
Financial technology
FinTech

Areas of Strength and Areas of High Potential (AoS and AoHP)

AoS: Competition economics and service strategy - Service and customer-oriented management

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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1-s2.0-S0148296322003320-mainFinal published version, 3.01 MBLicence: CC BY

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abstract = "Digitalization and related transformation in services is disrupting existing businesses and changing the positions and roles of incumbent and new players in the industry, as well as customers. This study aims to create an understanding of how digitalization has driven change in customer value creation, and how companies can enhance customers{\textquoteright} digital value creation in the present situation. For this purpose, we conduct a qualitative inquiry and use inductive logic with rich data from the represented industry – the financial sector – which enables us to detect the evolution of value creation during the last thirty years from an executive perspective. Our contribution is based on defining change processes involved in the evolution of customer value creation due to digitalization and revealing its microfoundations.",

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author = "Ilkka L{\"a}hteenm{\"a}ki and Satu N{\"a}tti and Saila Saraniemi",

note = "Funding Information: We thank two anonymous reviewers and associate editor, Prof. Hean Tat Keh, for their constructive feedback and valuable comments, which remarkably improved our study. Data for this study were collected in several research projects over the years. We therefore thank all our research partners who have participated in data collection during these projects, including Dr Katri Kallio, Mikko Riikkinen MSc, and Dr Kaisa Still, in the Redefining Digital Opportunities project (2015?2017) funded by Business Finland, and Professors Maria Holmlund and Tore Strandvik from Hanken School of Economics. Publisher Copyright: {\textcopyright} 2022 The Author(s)",

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N1 - Funding Information: We thank two anonymous reviewers and associate editor, Prof. Hean Tat Keh, for their constructive feedback and valuable comments, which remarkably improved our study. Data for this study were collected in several research projects over the years. We therefore thank all our research partners who have participated in data collection during these projects, including Dr Katri Kallio, Mikko Riikkinen MSc, and Dr Kaisa Still, in the Redefining Digital Opportunities project (2015?2017) funded by Business Finland, and Professors Maria Holmlund and Tore Strandvik from Hanken School of Economics. Publisher Copyright: © 2022 The Author(s)

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Digitalization-enabled evolution of customer value creation: An executive view in financial services

Abstract

Keywords

Areas of Strength and Areas of High Potential (AoS and AoHP)

UN SDGs

Access to Document

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