This textbook presents the essential contents of the standard work "Interactive Value Creation" by Ralf Reichwald and Frank Piller in a condensed form. Entrepreneurial value creation increasingly occurs not sequentially in the sense of a traditional value chain, but interactively and iteratively between a focal company and external contributors. In particular, customers and users actively participate (co-creation). This applies to the research and development of new products and services (open innovation) as well as to operational value creation processes (mass customization). The collaboration between companies and external parties is often organized differently. Instead of distributing tasks or giving instructions, contributors respond to an open call for participation and select when and how they want to engage (crowdsourcing).