Companies participating in value networks find new ways to produce value and business models through cooperation regionally, nationally and internationally. The work is based on the sharing of expertise, often involving representatives of educational and research institutions. Value networks may be created for urban development platforms in Jyväskylä, for example. The mission of Business Jyväskylä is to enable and lead the formation of value networks of business groups.
Value networking emphasises the confidentiality and long-term nature of work between operators. Solutions are developed in close cooperation between companies and other operators. Digital tools are also used.
The operation of value networks is shaped by the theme of the network, its objective and the needs of the actors. Business groups meet in thematic workshops, where the value network is developed in cooperation.
Value networking involves stages of varying content and scope, which vary according to the lifecycle of the network. Value networking can be divided into four stages, including:
- Evaluation of operations or securing their continuity
Value networks offer new business opportunities with the idea of ‘1+1 is more than 2’.
"When 10 people meet and have one-on-one conversations, 45 new social links are created. If each actor has 5 ideas, the 45 links will create 1,125 new insights." Tero Nyman, Medics24 Oy
The strengths of the value networks lie in combining different fields of expertise to create new ones, in which the identification of customer needs, cross-industry cooperation and strongly involved digitalisation are essential.
"Within the value network, we can share ideas about the current state of business cooperation and, together with other companies, innovate new business opportunities, without which the value network would be difficult or even impossible to identify." A company that participated in the value networking impact study.