The future of competition : co-creating unique value with customers / C. K. Prahalad, Venkat Ramaswamy.

Format:

Book

Author/Creator:

Prahalad, C. K., author.

Ramaswamy, Venkatram, author.

Language:

English

Subjects (All):

Competition.

Customer relations.

Customer services.

Strategic planning.

Physical Description:

1 online resource (215 pages) : illustrations

Place of Publication:

Boston, Massachusetts : Harvard Business School Press, 2004.

Language Note:

English

Summary:

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.

Contents:

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.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9781422160749

1422160742