Co-Productivity as a New Value Theory in Value Chain Analysis
Co-Productivity as a New Value Theory in Value Chain Analysis

Summary/Abstract: Purpose: To incorporate a new value theory based on co-productivity into the value chain analysis.Methodology: We develop a theoretical model of co-productivity and analyze selected examples ofhigh co-productive value chains. Our theory modifies value theories based on the classical approach(A. Smith, D. Ricardo, K. Marx), production factors of land, capital, labor, and knowledge (J.B. Clark),subjective value for the consumer (C. Menger, W.S. Jevons, and L. Walras), exchange value (A. Marshall), energy value (I. Prigogine), value added for the customer (M. Porter and P. Drucker), informationvalue (V. Rometty), and customer attention (M. Goldhaber).Findings: We demonstrate that the co-productivity theory deeply connects all hermeneutic sources ofvalue creation, but more importantly, it opens opportunities for adopting future-oriented sources.Originality: We present an original theory based on co-productivity, previously unused in logistics.We show how the theory helps to shape more effective value chains.

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