Popularization of Science

Popularization of Science

Designing a conceptual model of value co-creation: a mixed approach in Abadan Oil Refining Company

Document Type : Original Article

Author
fereydoun omidi
Department of Business Management, Khoramshahr International Branch, Islamic Azad University, Khoramshahr, Iran
10.22034/popsci.2023.418672.1298
Abstract
Background and Aim: Value co-creation constitutes a burgeoning paradigm in the business landscape, accentuating a dynamic interplay that incessantly generates and recognizes shared values between organizations and customers. This research is positioned to architect a comprehensive model for anticipating value co-creation and delving into its far-reaching implications within the intricate realm of the petroleum industry.
Methodology: This study is firmly grounded in the domain of mixed-methods exploratory research, manifesting a symbiotic fusion of qualitative and quantitative inquiry. The qualitative phase is underpinned by a fundamentalist epistemological stance, while the quantitative facet encompasses pragmatic aspects. The statistical cohort within the qualitative realm is composed of domain experts and executive leaders. The qualitative phase deploys semi-structured interviews as the data collection vehicle, resulting in 21 insightful dialogues. Subsequently, the amassed data undergoes meticulous scrutiny through a synthesis of thematic analysis and theoretical coding. In the quantitative domain, the empirical model is subjected to rigorous examination employing the robust analytical apparatus of structural equation modeling (SEM), synergizing with the cutting-edge software PLS (Partial Least Squares).
Findings: The qualitative inquest manifests a constellation of precursors (namely, quality enhancement, order orchestration, competitive dynamism, supply chain orchestration, and human resource governance) that act as cradles for value co-creation, coupled with ramifications (inclusive of performance augmentation, productivity gains, brand amplification, production efficiency optimization) that flow from this symbiotic endeavor. The foundational pillars of this value co-creation fabric crystallize into a paramount emphasis on the supplier-relations continuum.
Conclusion: Propagating the ethos of value co-creation within the tapestry of the petroleum sector serves as a fulcrum for harnessing latent potentialities and competences, thereby wielding a strategic edge in terms of competitive prowess, brand exaltation, performance amelioration, operational efficiency, productivity enhancement, and qualitative advancement.
 
Keywords
value co-creation
supply chain management
Abadan Oil Refining Company
Subjects
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Popularization of Science
Volume 14, Issue 2 - Serial Number 25
January 2023
Pages 213-237