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| Evolution Path and Mode Transition of Co-creation Value of Latecomer Enterprises：A Case Study of BYD |
| Zhang Guangyu1,2,Huang Jiahui1,2,Cao Yangchun3 |
| (1.School of Management, Guangdong University of Technology; 2. Innovation Theory & Innovation Management Research Center, Guangzhou 510520, China; 3. School of Management, Guangdong Ocean University, Zhanjiang 524088, China) |
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Abstract China's new energy automobile enterprises are latecomer enterprises, and they suffer from the disadvantages of congenital resource shortage, weak basic research and development, and insufficient high-end involvement in the industrial chain. Furthermore, the blockade of foreign core technologies in the new era has made the innovation environment of latecomer enterprises worse. Disruptive innovation, based on the blue ocean thinking mode, can provide good path guidance for latecomer firms' through reshaping and reform of technological paradigm and innovation route. On the other hand, disruptive innovation involves the systematic reshaping of the technology system, which often involves the role complementarity and resource integration of different innovation subjects. The process of disruptive innovation is used to be accompanied with the value co-creation activities of innovation subjects. After reviewing the existing literature on disruptive innovation and value co-creation, it is found that the research about value co-creation of disruptive innovation on enterprises is also one of the core issues that current scholars pay attention to, and the market diffusion process of disruptive innovation and the logic process of value co-creation are highly coupled. Therefore, the existing research on the model and path evolution of disruptive innovation value co-creation still needs to be further improved.
To help latecomer enterprise break through the path bottleneck of value co-creation and solve the dynamic problem of value co-creation mode transition in the process of disruptive innovation,this paper is from the perspective of value co-creation which helps to conduct a research framework formed by the internal and external organization linkage of value subject and “value proposition-value formation-value diffusion”, and takes BYD as the research object with the exploratory single case study method to explore the value co-creation path and mode of latecomer enterprises to achieve disruptive innovation at different stages. Through the coding of BYD data based on the grounded theory, the concept and category of value co-creation in each stage are obtained, and the process law and internal mechanism of disruptive innovation value co-creation of latecomer firms are further revealed.
The study has found that in the initial stage, diffusion stage and subversion stage,there are different value co-creator participators in the disruptive innovation value co-creation of latecomer enterprises, forming different paths and models. At different stages, the value co-creation of latecomer firms will experience transactional mode, cooperative mode and relational mode in turn. The differences of different modes are embodied in three modules: value proposition, value formation and value diffusion. Aiming at different value co-creation modes, this paper summarizes the development rules and puts forward corresponding innovation strategies. The innovation strategy at the initial stage is the resource patching oriented transaction form, and the imitative innovation that absorbs value spillovers. The start-ups can complete the resource patching through the transaction form, alleviate the dependence on structural resources, avoid the risk of R&D investment with asset-lite structure, fully capture the value spillovers of external organizations in the transaction, and then they should continuously launch new products and services through imitation innovation to ensure that the innovation direction is consistent with customer demand. In the diffusion stage, latecomers should carry out independent innovation of information exchange in the form of collaborative innovation oriented cooperation. Enterprises should expand their business scale, establish long-term cooperation relationships with external organizations such as government, industry, universities and research institutes, capture technology spillovers and cutting-edge knowledge in cooperation and improve the independent innovation ability of enterprises. In the subversion stage, the latecomers should form a relationship involving multiple parties and open innovation of customer customization. Enterprises should attract as many subjects as possible to participate in value co-creation, so as to maintain the network relationship and improve the ability to obtain and integrate scarce resources. At the same time, customers should become the innovation source of enterprises through customer customization strategies, thus improving customer loyalty and satisfaction.
This study expands the application field of value co-creation theory, enriches the research results of disruptive innovation and value co-creation theory, and provides ideas and practical guidance for latecomer enterprises to achieve disruptive innovation.
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Received: 11 July 2022
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