Literature review of value co-creation in education institutes: current states and future perspectives

Abstract Education has an essential place and influence on the future and current economy and society in general. Understanding the mechanisms of value co-creation in the education environment is therefore of paramount importance for improving the quality of educational services. Value co-creation focuses on the interaction with the learner with the aim of better academic performance and students’ satisfaction. This paper presents areas in which value co-creation is applied in higher education institutions and the results of its implementation, both for universities and students. Value co-creation promotes and enhances the interaction between educational institutions and students and seems to have a positive impact not only on academic performance, but also on students’ satisfaction and engagement levels. The process of value co-creation allows educational units and students to work together to optimise their experience and enhance their ability to actively participate in the educational process.