Preprint Article Version 1 This version is not peer-reviewed

Co-Creating Value in Urban Public Policy Context: A Different Approach

Version 1 : Received: 12 December 2017 / Approved: 14 December 2017 / Online: 14 December 2017 (11:33:32 CET)

How to cite: Fotino, F. Co-Creating Value in Urban Public Policy Context: A Different Approach. Preprints 2017, 2017120091 (doi: 10.20944/preprints201712.0091.v1). Fotino, F. Co-Creating Value in Urban Public Policy Context: A Different Approach. Preprints 2017, 2017120091 (doi: 10.20944/preprints201712.0091.v1).

Abstract

Urban areas face daunting economic challenges that have increased in scope in recent years. At the same time, cities provide for opportunities for growth and value creation. The interplay of these challenges and opportunities represents the area of intervention for policymakers and researchers. However, the traditional approach to urban policy, deriving from the managerial and economic policy theories, shows difficulties mainly related to the capacity to counterbalance the interests and expectations of a multitude of stakeholders participating to the value co-creation process and to bring all different components to synergically contribute to the sustainability of the system. The Author proposes an innovative approach to urban public policy, by adopting the theoretical corpus of the Viable Systems Approach ("VSA"). Urban planning will be particularly analysed, as systemic components of urban areas, with the aim to investigate the decision-making processes for an integrated, efficient, effective and sustainable management of the territory as a multidimensional, multisectoral and multi-stakeholder entity. By recovering different settings, the VSA intends the co-creation of value as the capacity of the viable systems to increase its surviving chances in its own context. The value derives, first of all, from the strategic decisions aimed at finding both dyadic and context consonance. Through its strategic decisions, the Governing Body of the territory develops a specific system as the overall synthesis of all possible systems organised within a specific area, identifying pattern of development agreed by the several stakeholders of the territory. In the dynamics of value co-creation in systemic multi-subjective organizations, where the level of complexity is particularly significant, the research for consonance among different stakeholders is particular important in order to achieve the most value for the territory. In this respect, the VSA may constitute a valid tool, helping to find the necessary capacities to imagine evolutionary paths towards new competencies.

Subject Areas

Sustainability; Value co-creation; Viable Systems Approach; Consonance; Urban and Territory development; Public Policy

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