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Empirical Examination of Value Creation Criteria: Achieving Consensus Using Delphi Exercise Within Service Industry

Year: 2025

Type: article

Abstract: Businesses are realising the strategic significance of customer participation in value creation in an increasingly competitive market environment. However, there is still little empirical study on the precise contributions made by customer experts to value creation, despite the increased interest in customer interaction. This paper aims to provide recommendations on the value creation criteria covering financial and non-financial dimensions, based on the consensus reached from the Delphi Exercise involving customer experts who possess in-depth knowledge of services. Delphi exercise is a systematic procedure to elicit expert opinion where the intended outcome is to attain a decisive consensus within the appointed panel of experts. Nine panel members of experts were involved in the Delphi exercise until a consensus or agreement was reached in the third round. Findings indicate that there are several new items agreed upon by the panel members for both financial and non-financial dimensions. The findings, add to the expanding corpus of research on consumer involvement in value creation and companies' opportunities to improve their interactions with customer experts. This also contributes to SDG 8(Economic Growth and Decent Work) in boosting productivity, innovation and employment in the service industry.

Source: International Journal of Business and Society

DOI: 10.33736/ijbs.8139.2025

Authors: Suzila Mohamed Yusof, Sofiah Md Auzair, Amizawati Mohd Amir, Norida Basnan

Institutions: Universiti Malaysia Sarawak, National University of Malaysia

Language: English

Topic: Service and Product Innovation

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: diamond

Funders: Universiti Kebangsaan Malaysia, Universiti Malaysia Sarawak