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European Journal of Applied Sciences – Vol. 11, No. 3
Publication Date: June 25, 2023
DOI:10.14738/aivp.113.14612.
Vindigni, G. (2023). Entrepreneurship: The Value-Added of Co-Creation Through Web 3.0. European Journal of Applied Sciences,
Vol - 11(3). 21-42.
Services for Science and Education – United Kingdom
Entrepreneurship: The Value-Added of Co-Creation Through Web
3.0
Giovanni Vindigni
DIPLOMA Hochschule,
University of Applied Sciences,
Bad Sooden-Allendorf, Germany
ABSTRACT
This paper explores the concept of entrepreneurship and the added value that co- creation, facilitated by Web 3.0 technologies, can bring to businesses. It delves into
the potential advantages of integrating co-creation strategies, such as increased
innovation, customer engagement, and market adaptability, while highlighting the
role of emerging web technologies in enabling more effective collaboration and
interaction between businesses and consumers. The various formations of
customer integration in terms of ideational and inventive service and new product
development represent an essential factor of economic success in the current work
reality for companies. In this emerging epoch, which is constitutively characterized
by increasing disruption processes and is referred to by politics and economics
etymologically and polysemically as Industry 4.0 and Economy 4.0, a more precise
discourse analysis is required in a problem-explorative manner. As a result of an
increasingly individualized, informatized, and internationalized society, in which
the Java API Web 3.0 not only leads to the transformation of the communication
matrix through web-semantic algorithms per se, there is potential added value
through co-creation. The customer, in the sense of appropriation research, is not
only a profane website visitor but can be determined as an ideational and inventive
prosumer with regard to conversion who, within the framework of integrative,
interactive, and readaptive value creation, offers companies a decisive benefit
reciprocally with the help of Web 3.0. Companies are looking for ways to cope with
the phenomenon of ever-shortening product life cycles.
Keywords: Innovation Management, Knowledge Management, Prosumerism, Disruption,
Co-Creation, Web 3.0, Communities of Practice, Not-invented-here Syndrome,
Transformation, Emergence, Innovation Cooperation, Customer Integration, Innovation
Resistance, Customer Integration.
INTRODUCTION
The emergence of an increasingly rapid societal technological development formation in recent
decades has not only led to numerous technological disruptions but also to significant
transformation processes concerning corporate management in almost all economic sectors.
The Internet, and in particular the Java API-based Web 3.0 specified and modified since 2012,
has connected market participants as Communities of Practice (CoP) in a simplified and web- semantic way, mass-compatible, heuristically collaborative, and iteratively acting regularly on
a global level [1]. Meanwhile, an emergent culture as a living and working space could arise
from a media sociological perspective that goes beyond an appositive, i.e., a media-enhancing
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European Journal of Applied Sciences (EJAS) Vol. 11, Issue 3, June-2023
information space and use. Individualization, informatization, and internationalization not only
represent the current living and working reality in the realm of Web 3.0 in a simplified and
profane way but also constitute an immersively sociological hybrid living and working space
with various motives and influencing factors per se [2; 3]. At the same time, and sometimes
even synchronously, recipients reciprocally shape their individual life perceptions in the
realms of Web 3.0 across various media carriers and platforms [4]. The accompanying global
competition for the respective target groups on the Internet leads to accelerating R&D
processes through convergent subject positioning, which can be inductively specified with the
help of two formations and record interdependencies concerning the H-O-T-fit approach
(human-organization-technology) [5; 6; 7; 8].
For companies, this means having to address problem-exploratively those emergent and now
increasingly immersive Web 4.0 challenges, such as VR and AR measures, concerning the web- semantic architecture [9]:
a) Consumers are no longer reached in a simplified and heuristic manner due to the increasing
redundant sensory overload caused by the often intrinsically company-led communication
policy measures. The scatter loss, as can be demonstrated and substantiated by numerous
investigator and theory triangulative studies through the increase of bounce rate KPIs,
explicates very negative, sustainable, quantitative, and qualitative entrepreneurial aspects.
b) Companies need to transfer strategic and programmatic adjustment modifications to
respond to the declining attention of recipients and those negative bounce rate effects, by
adapting and integrating these emergent formations with regard to customer loyalty and
customer integration models using the tools of Web 3.0. The not-invented-here syndrome,
which is often observed in companies, requires overcoming this barrier and a paradigm
shift that goes beyond the polysemic discourse on Industry 4.0 and Economy 4.0 led by
politics.
In summary, it can be scientifically substantiated that ever-shortening product life cycles, in the
context of the above-mentioned problem-explorative interdependencies, on the one hand,
require increased innovation demand that companies often cannot provide from their own
ideational and inventive development work per se, and on the other hand, the entrepreneurial
not-invented-here syndrome with regard to the Web 3.0 formation means overcoming this
barrier [10; 11. However, both challenges can be addressed, possibly with the same tool,
namely the specified, and indeed corporate cultural realignment, through the integration of the
customer within the product development process, such as through co-creation.
EXPLICATION REGARDING A DIAGNOSIS OF CO-CREATION FORMATION AND
OBJECTIVES
To what extent co-creation records the core dimension capable of significantly increasing a
company's innovation power, and to what extent integrating the customer through their
commitment to the entrepreneurial brand can even lead to the sustainable reinforcement of
this, deserves a scientific examination, which is carried out here using theory and research
triangulation analyses.
In a first step, it will be determined how product development and prosumer can be explained
in the context of co-creation formation in terms of technical terminology and determination.
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Vindigni, G. (2023). Entrepreneurship: The Value-Added of Co-Creation Through Web 3.0. European Journal of Applied Sciences, Vol - 11(3). 21-42.
URL: http://dx.doi.org/10.14738/aivp.113.14612.
Furthermore, a deductive discourse is required to classify co-creation within entrepreneurial
product development in terms of entrepreneurship. In the subsequent discourse, the reasons
and motives from which co-creation can be integrated as a positive opportunity strategically
and operationally from a business perspective will be determined. In reference to the problem
of the mentioned not-invented-here syndrome, the communication policy motivations will first
be specified. Building on this, the current framework conditions for the product development
of companies from a product policy perspective will be substantiated. Through problem
exploration using selected co-creation methods, it will be explained how and to what extent the
customer can be meaningfully integrated into the entrepreneurial product development
process. At the same time, examples of current practice will illustrate not only the economic
value added that corporate customer integration offers today but also the potential risks and
limitations regarding co-creation methods.
DETERMINATIVE DISCOURSE AND THEORY TRIANGULATION EXPLANATORY
APPROACH
A propaedeutic discourse is first necessary to determinatively contextualize the aspects of
product development, prosumer, and co-creation in relation to entrepreneurship. The use of
co-creation-relevant options, i.e., in terms of product and service development and their
entrepreneurial implementation, is receiving increasing attention in the current work reality
[12]. Terms such as "Industry 4.0" or "Economy 4.0" express this, i.e., despite polysemic- semiotic aspects in the technical literature and on the part of politics [13]. The following
discourse will show how ideations and inventions constitute innovations, to what extent it is
necessary to differentiate determinatively between invention and innovation in essence, and
furthermore, which similarities and formative differences are increasingly given as market- economic dependence with regard to innovations and variations, which manifest themselves
sociologically in a globalized e-commerce market through imitations or their manifestations. In
terms of their own innovation achievements, the innovation variant is also substantiated as a
purchase variant compared to the copy variant. The open innovation approach will then be
focused separately as an essentialist category of entrepreneurial perception, i.e., because of the
context concerning co-creation.
Product Development
Between inventions and innovations of all kinds, the significant difference is that innovations
show sustainable market dependence [14; 15; 16; 8]. According to Weis [14], innovations arise
by developing ideas into inventions that are then successfully penetrated into the market
through diffusion. However, it is questionable when a market launch is successful at all. In
current innovation research, there is controversial discussion to what extent an innovation only
characterizes market success per se as a formation and core dimension [14; 17; 8]. In contrast,
the definition regarding the term "product innovation," as Wöhe [18] specifies, would only arise
"when technical progress and/or shifts in demand lead to the development of entirely new
products". Abductively, however, this would mean that an innovation in dependent formation
does not need market success per se but merely has to penetrate diffusively into the market in
order to be perceived only cognitively and neuroeconomically by recipients. If a product
innovation is understood as an invention newly introduced into the market through diffusion,
the possibility of product variation must also be considered in the development and
introduction of new products, in addition to the precise product innovation (cf. Chesbrough,