VISUALISING THE ROUTE OF VALUE-CREATION - IDENTIFY STAKEHOLDER ENGAGEMENT NEEDS IN EARLY-STAGE SYSTEM DEVELOPMENT

Companies and organisations design, develop, and market new systems of products and services, also known as product service-system (PSS), through the process of translating beneficiaries’ needs into design specifications, and managing stakeholders in the PSS development process. Companies and organisations that manage the early-stage development process well could potentially reduce cost and time to market. One way to determine if a new PSS is successful is how attractive it is to its intended beneficiaries, where beneficiaries are those who generate value when using the new product or experiencing the new service. This study explores how to combine concepts from new PSS development, value-in-use, and stakeholder engagement, to identify the engagement requirement of stakeholders of a PSS at its early stage of development. The intention is to contribute to midrange theories that bridge the general theory of service-dominant logic and evidence-based research about value co-creation. For practitioners, a workshop approach – stakeholder-value mapping - to identify stakeholder engagement needs that generates multiple visual representations is emerged. The final output of this workshop approach is a visual representation called the stakeholder-value map. The stakeholder-value map facilitates development teams to visualise the PSS’ route(s) of value-creation, and then to discuss the opportunities to engage stakeholders differently from the teams’ original plan to increase the new PSS’s market success.