The future of competition : co-creating unique value with customers

Author(s)

Bibliographic Information

The future of competition : co-creating unique value with customers

C.K. Prahalad, Venkat Ramaswamy

Harvard Business School Press, c2004

Available at  / 38 libraries

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Note

Includes bibliographical references and index

Contents of Works

  • The co-creation of value
  • Building blocks of co-creation
  • The co-creation experience
  • Experience innovation
  • Experience personalization
  • Experience networks
  • The market as a forum
  • Creating new strategic capital
  • Manager as consumer
  • Rapid knowledge creation
  • Strategy as discovery
  • Building new capabilities for the future

Description and Table of Contents

Description

In this visionary book, C. K. Prahalad and Venkat Ramaswamy explore why, despite unbounded opportunities for innovation, companies still can't satisfy customers and sustain profitable growth. The explanation for this apparent paradox lies in recognizing the structural changes brought about by the convergence of industries and technologies; ubiquitous connectivity and globalization; and, as a consequence, the evolving role of the consumer from passive recipient to active co-creator of value. Managers need a new framework for value creation. Increasingly, individual customers interact with a network of firms and consumer communities to co-create value. No longer can firms autonomously create value. Neither is value embedded in products and services per se. Products are but an artifact around which compelling individual experiences are created. As a result, the focus of innovation will shift from products and services to experience environments that individuals can interact with to co-construct their own experiences. These personalized co-creation experiences are the source of unique value for consumers and companies alike. In this emerging opportunity space, companies must build new strategic capital--a new theory on how to compete. This book presents a detailed view of the new functional, organizational, infrastructure, and governance capabilities that will be required for competing on experiences and co-creating unique value.

Table of Contents

  • Introduction
  • Part One: Convergence of Company and Consumer
  • 1. Co-creation
  • 2. Pre-conditions for Co-creation
  • 3. Experiences in Co-creation
  • 4. Experience Innovation
  • 5. Personalized Experiences
  • 6. Experience Network
  • The Market as a Forum for Experiences
  • Part Two: Co-Creating the Future
  • 7. The Competitive Space
  • 8. Creating New Strategic Capital
  • 9. Manager as Consumer
  • 10. Rapid Knowledge Creation
  • 11. Strategy as Discovery
  • 12. Building New Capabilities
  • The Emerging Reality of Governance

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