Governance of interconnected value creation systems: rules of engagement for effective cooperation among companies in a competitive context

Abstract

In the context of the digital transformation of the 21st century, this paper explores the evolution from traditional, hierarchically organized value chains to dynamic, networked multi-actor constellations. The focus is on identifying and analyzing suitable governance mechanisms that are crucial for the success of both individual partners and the value creation system as a whole. Through a combination of comprehensive literature research and qualitative interviews with various leading experts from business, science, and politics the relationships between value creation, networking, and governance were analyzed as part of this study. This emphasizes the importance of transparency, motivation, and trust in these networked systems and discusses the use of technology to ensure effective governance. Technologies can be used to create data security through the traceability and immutability of data. The literature shows that there are no universal solutions, but that individual, situation-specific approaches are required that combine legal expertise and the use of technology. The results of the study indicate that customers are increasingly becoming integral parts of networked value creation systems, with data protection, laws and guidelines, exit plans, exploitation rights, and the challenges of international contract negotiations playing key roles. The work provides important insights into the need for continuous adaptability to constantly changing framework conditions.

Keywords: Governance, Corporate Governance, Ecosystem, Network, Networked Value Creation, Value, Value Co-Creation

DOI: 10.54941/ahfe1005083