Knowledge in Value Creation Process for Increasing Competitive Advantage

The aim of this paper is to compare companies by using value creation model and to determine knowledge in these processes. The framework for the value creation process shows problems of case companies in different phases of this process. Knowledge is compared in each of the individual phases of the process and its role in different types of companies. There is identified role of knowledge for increasing competitive advantage. The methodology involves case study from which data are derived and analyzed. The analysis shows that the framework for the value creation process can be used as an analytical tool for value overview in different phases and there is a need for different approaches to improve business and create new value for customers. Based on the analyzed problems, proposed recommendations for improvement are made. These recommendations are based on providing value innovation for customers (end users of software product). Value innovation of software product is considered as crucial for improvement of the companies in machinery industry. Company A has created new value through remote service. This remote service provides several advantages. Customers can prevent problems in machines by implementing software product which is still analyzing and evaluating data from machines. Company B and C were not able to create major value innovation for several years.