CO-CREATION OF VALUE, VALUE IN USE INSTEAD OF VALUE IN EXCHANGE IN HIGHER EDUCATION

Shanthaindrajithhikkaduwaliyanage, Sathish Victor, Abel Motsumi
2017 Ahead-International Journal of Recent Research Review   unpublished
With the roots of industrial revolution, the Goods Dominant Logic (GDL)has defended the ex-parte value creation by an organization away from the customers during the last three and half centuries. In mean time, the globalization, social media, information systems, computer technology have strengthen the customers' buying behavior with remarkable new attributes. Prahalad & Ramaswamy (2004) pointed out four attributes of today's customers as informed, networked, empowered and active customers
more » ... eby new dominant logic called Service Dominant Logic (SDL) has appeared for creation of value (Vargo&Lusch, 2004). The core element of the Service Dominant Logic (SDL) is creation of value inter parte called co-creation of value. In this context, the two continuum of value creation, traditional value creation, value-in-exchange and co-creation of value, value-in-use were quantitatively investigated on the premise of feedback system in a higher education institute and found by analyzing the perceptions of the students on an ordinal scale that the prevailing feedback system is a victim of Goods Dominant Logic and creates values ex-parte away from the students hindering their skill and knowledge for co-creating value depriving an operant resource available to the higher education institute.
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