Design and psychometrics of common value creation measurement tools in technology businesses

Today, the creation of shared value between institutions, organizations and businesses is one of the important factors of economic growth and business development and improving stakeholder relations. Therefore, this study aimed to design and validate a tool to measure shared value creation in technology businesses with a practical purpose. The main goal of the researcher in the present study was to answer this question: what are the dimensions of the common value creation evaluation tool for technology businesses? The study further attempted  to design and validate psychometrics co-value creation tools for technology businesses.

The research adopted a mixed method (grounded theory). Qualitative statistical population consisted of CEOs and board members in the field of information technology and technology businesses and new technology-based businesses. Through purposeful sampling method in accordance with the law of saturation of opinions, 14 people were selected. Statistical community in the qantitative part included more than 2773 companies active in the information technology industry, which are available on the website (www.ictkey.ir) and, consequently, the same number of top and senior managers; Also, due to lack of accurate transparency of information about the statistical community and considering the sample size formula without a statistical population in terms of proportion of 408 first, second and third tier managers working in the field of technology businesses, especially in the field of IT&ICT and new areas of technology, the public and private institutions or companies in Tehran were included by simple random sampling. The primary tool was extensive study of theoretical foundations, previous research, related articles and interviews with experts, which eventually led to the design of the initial questionnaire. Then, face validity and quantitative and qualitative content were examined and its reliability was determined by Cronbach's alpha method and combined reliability with a value above 0.7. Finally, the confirmatory factor analysis of the mentioned tool was confirmed using SPSS21 and Samartpls3 software.

Findings indicate that in formal and quantitative validity content, the effects score of items less than 1.5 and content validity ratio less than 0.62 and content validity index less than 0.79 were removed, which included categories such as internal and external stakeholders, mental integrity and agreements, social psychology, resources and benefits, foresight & futurism, win-win cultural feature, analysis, initiation and pioneering. The results of confirmatory factor analysis test showed that the dimensions of shared value creation include 12 dimensions describing: interactive processes, technology performance/ functionality, customer focus, sustainable value, co-creation requirements, value creation, culture, decision making, economics, value learning, Policies and rules and regulations, opportunities and indicators include 28 components such as needs assessment/needs building, participation and production of shared value, satisfaction and indexable, operation of smart tools/tools, paradigm/technological view, customer, service-based, Based on continuous processes, and model and strategy, social and legal areas, infrastructure, information acquisition and sharing, policy/governance, value generation and absorption, stimulus, benefit sharing, cultural variable, online and up-to-date proposing system, financial, optimal consumption, investors, defining and applying the concept of value, university and higher education, fostering creative manpower, protecting intellectual property, government support policies, motivating and brainstorming individuals, creation opportunities.

In evaluating the validity of the structure, the factor load value of all items, appropriate values above 0.4, the reliability of both criteria (Cronbach's alpha, combined reliability), all dimensions above 0.7, the mean extracted variance and all dimensions greater than 0.5 were obtained and approved. Finally, the findings of this study indicated that the designed tool included 12 dimensions and 28 components that had appropriate and strong credibility and reliability and can be used to assess the joint co-creation of value in technological businesses for business excellence and development and creating a new business and economic environment.