The Future of Competition: Co-Creating Unique Value with Customers

The Future of Competition: Co-Creating Unique Value with Customers

Hardcover

$32.75 $39.95 Save 18% Current price is $32.75, Original price is $39.95. You Save 18%.
View All Available Formats & Editions

Temporarily Out of Stock Online

Eligible for FREE SHIPPING

Overview

The Future of Competition: Co-Creating Unique Value with Customers by C. K. Prahalad, Venkat Ramaswamy


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.

Product Details

ISBN-13: 9781578519538
Publisher: Harvard Business Review Press
Publication date: 02/18/2004
Pages: 272
Product dimensions: 6.40(w) x 9.60(h) x (d)

About the Author


C. K. Prahalad is the Harvey C. Fruehauf Professor of Business Administration at the University of Michigan Business School and co-author of the landmark best seller, Competing for the Future. His research, for over twenty years, has consistently focused on "next" practices. Venkat Ramaswamy is the Michael R. and Mary Kay Hallman Fellow of Electronic Business and Professor of Marketing at the University of Michigan Business School. His research focuses on new frontiers in co-creating value.

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews