Design Thinking and Value Co-creation- A theoretical Perspective of HIVE theory

Design thinking and value co-creation have been considered one of the most prominent innovative methods to solve any social issues or problem. Many researchers since 1995, are working in this area, however the theoretical foundation of this domain are highly fragmented and not well establish till date. So, the objective of this article is to propose a theoretical foundation in design and value co- creation research. Based on 58 articles collected from ABDC, A Star and A category journals, the applied theories have been analyzed and find out that it is an interdisciplinary field which applied many theories like learning theory, design theory, dynamic capabilities theory, service dominant logic etc. Those identified theories, alone cannot explain the collaborative innovation in dynamic environment. Thus, the proposed Human-centered innovation and Value Ecosystem Theory (HIVE Theory) able to explain the design thinking and value creation process. This proposed HIVE theory, has a practical application among stakeholders and would be helpful for policy framework.