Value creation process for digital business and entrepreneurship: new challenges for human intellectual capital in the digital world

Abstract

Purpose of the article To find tools and methods to research how value creation can be done using smart data and what kind o business models shall be used  for implementation these new models into digital business.

Methodology/methods We propose an approach to analyse the current situation with using intellectual capital in digital innovation companies

Scientific aim This methodology puts in evidence several examples of successful profiting from using of intellectual capital in the frame of current digital economics. The business models of pre-digital companies, based on promoting products, have also evolved. Their offer has gradually shifted towards services, to such an extent that what they are selling is not so much the product as the functions it serves.

Findings Value creation in digital innovation companies can be viewed as a system of three interacting components. First, the domain choice, selecting where to compete. Second, the resource base in terms of individual and collective knowledge. These two components provide input in terms of the demand of customers and the capabilities in the resource base of the company, to the third component: the product or service delivery process (PSDP). The content of the PSDPs can vary according to the needs of the customer.

Conclusions (limits, implications etc) The outcomes of the application  can be used in business environment for the new innovative companies working in digital business (IT-technologies,  Big Data applications etc)

Keywords: (5-10 words) data, value proposition design, business model design, value creation, intellectual capital