Co-creating value through demand and supply integration in senior industry-observations on 33 senior enterprises in Taiwan.
OBJECTIVE
With global population aging, great business opportunities are driven by the various needs that the elderly face in everyday living. Internet development makes information spread faster, also allows elderly and their caregivers to more easily access information and actively participate in value co-creation in the services. This study aims to investigate the designs of value co-creation by the supply and demand sides of the senior industry.


METHODS
This study investigated senior industry in Taiwan and analyzed bussiness models of 33 selected successful senior enterprises in 2013. We adopted series field observation, reviews of documentations, analysis of meeting records and in-depth interviews with 65 CEOs and managers.


METHODS
Thirty-three quality enterprises in senior industry.


METHODS
Sixty-five CEOs and managers in 33 senior enterprises.


METHODS
None.


METHODS
Value co-creation design, value co-creating process.


RESULTS
We constructed a conceptual model that comprehensively describes essential aspects of value co-creation and categorized the value co-creation designs into four types applying for different business models: (i) interaction in experience spaces co-creation design, (ii) on-site interacting co-creation design, (iii) social networking platform co-creation design and (iv) empowering customers co-creation design. Through value co-creation platform design, the senior enterprises have converted the originally passive roles of the elderly and caregivers into active participants in the value co-creation process.


CONCLUSIONS
The new paradigm of value co-creation designs not only promote innovative development during the interactive process, lead enterprises reveal and meet customers' needs but also increase markets and profits.
Institute of Health Policy and Management, National Taiwan University, Taipei, Taiwan Golden Dream Think Tank and Research Center, Taiwan School of Health Care Administration, Taipei Medical University, Taipei, Taiwan.
Ya-Ting
YT
Yang
Graduate Institute of Biomedical Informatics, College of Medical Science and Technology, Taipei Medical University, Taipei, Taiwan International Center for Health Information Technology (ICHIT), Taipei Medical University, Taiwan Health Informatics Department, COMSATS Institute of Information Technology (CIT), Islamabad, Pakistan.
Usman
U
Iqbal
Institute of Health Policy and Management, National Taiwan University, Taipei, Taiwan.
Ya-Mei
YM
Chen
Southern TOHOKU Research Institute for Neuroscience, Southern TOHOKU General Hospital, Fukushima, Japan.
Shyi
S
Su
School of Health Care Administration, Taipei Medical University, Taipei, Taiwan.
Yao-Mao
YM
Chang
Southern TOHOKU Research Institute for Neuroscience, Southern TOHOKU General Hospital, Fukushima, Japan.
Yujiro
Y
Handa
Institute of Health Policy and Management, National Taiwan University, Taipei, Taiwan.
Neng-Pai
NP
Lin
Golden Dream Think Tank and Research Center, Taiwan School of Health Care Administration, Taipei Medical University, Taipei, Taiwan.
Yi-Hsin Elsa
YH
Hsu
D000368:Aged; D005851:Geriatric Nursing; D006295:Health Resources / Q000458:organization & administration*; D006801:Humans; D007407:Interviews as Topic; D017146:Models, Organizational; D036301:Qualitative Research; D013624:Taiwan; D062505:Value-Based Purchasing
co-creation value; demand and supply; integration; senior enterprises