Value co-creation through co-design in decentralized autonomous organizations: Understanding new business models in the music industry
(A2021-94461)

AUTHORS

Julia Fehrer, The University of Auckland Business School; Fabio Morreale, The University of Auckland, School of Music

ABSTRACT

Technological advancements have greatly exacerbated the need for understanding how value is created through appropriate business model designs, and more importantly, how business models form and how actors can collectively participate in these formation processes. In particular, the recent phenomenon of decentralized autonomous organizations (DAOs) is raising questions about value creation through and efficacy of emergent, democratic and equitable governance mechanisms, marked by AI-curated algorithms and decentralized decision making of broad sets of actors. In response to these questions, we introduce a new business model co-design framework––developed abductively, based on a comparative case study approach––that provides an encompassing perspective of value co-creation through collaborative design, applicable to contemporary digital and decentralized organizations that go far beyond the boundaries of one focal firm.