The Interaction Field: The Revolutionary New Way to Create Shared Value for Businesses, Customers, and Society

by Erich Joachimsthaler, John Butman

Overview

Learn how the most successful businesses are creating value and igniting smart growth in a fast-paced, competitive market.


Most businesses today focus on competition and disruption instead of collaboration, participation, and engagement. They focus on transactions instead of interactions. They seek to optimize or extract value rather than share it. They build assets and thrive on enormous scale, huge distribution networks, and brand recognition. But then along comes a rival that doesn't care much about your brand and your other assets, and it either rushes past you or mows you down.


In The Interaction Field, management expert and professor Erich Joachimsthaler explains that the only way to thrive in this environment is through the Interaction Field model. Companies who embrace this model generate, facilitate, and benefit from data exchanges among multiple people and groups — from customers and stakeholders, but also from those you wouldn't expect to be in the mix, like suppliers, software developers, regulators, and even competitors. And everyone in the field works together to solve big, industry-wide, or complex and unpredictable societal problems.


The future is going to be about creating value for everyone. Businesses that solve immediate challenges of people today and also the major social and economic challenges of the future are the ones that will survive and grow.

Product Details

ISBN-13:	9781541730519
Publisher:	PublicAffairs
Publication date:	09/15/2020
Pages:	240
Sales rank:	776,637
Product dimensions:	6.20(w) x 9.30(h) x 1.00(d)

About the Author

Erich Joachimsthaler is the Founder and CEO of VIVALDI, one of the largest independent global strategy and business transformation firms, with offices in the U.S., Europe, Latin America and Asia. Prior to his work at Vivaldi, Erich has held academic faculty positions at the University of Southern California, Instituto Estudios Superiores de la Empresa (IESE) in Barcelona, Spain and The Darden School, University of Virginia. He has guest lectured at over twenty-five business schools.


Joachimsthaler is the author and co-author of more than a hundred articles published in highly-respected journals as well as of two award-winning books-Brand Leadership and Hidden in Plain Sight. He has been featured in USA Today, The New York Times, Wall Street Journal, and on CNBC, among others, and writes regularly for Harvard Business Review. In 2017, he was voted a Top 25 Influencer of Chief Digital Officers, and he was inducted as the 2017 Fellow of the ISBM Institute for his lifetime contribution in academics, thought leadership and practice in marketing, strategy, and digital innovation. He lives in New York, NY.

Table of Contents

Introduction 1

Chapter 1 The Interaction Field Model-How to Create Unstoppable Velocity 7

Chapter 2 Revolutionizing a Company and Industry: Interactions Versus Transactions 21

Chapter 3 New Consumers: How to Reach Them Given Rising Expectations 39

Chapter 4 Framing and Branding: The Sociology of Gravitational Pull I 63

Chapter 5 Innovation: How a Traditional Company Can Act Like a Start-Up 85

Chapter 6 Solving Difficult Challenges: Reshaping a Complex Industry 97

Chapter 7 The Virtuous Cycle: The Sociology of Gravitational Pull II 117

Chapter 8 Superfluid Markets: Eliminating Frictions 137

Chapter 9 Delivering Customer Experiences: The Role of Brand in Business Strategy 155

Chapter 10 Velocity Versus Clicks-On Becoming an Interaction Field Company 171

Conclusion: New Ways Forward-The World Is Created Through Interactions 193

Acknowledgments 199

Notes 203

Index 213

Editorial Reviews

"A thrilling new way of looking at a successful business model for the future. This fascinating book contains great business stories-such as LEGO, John Deere, Alibaba, Flatiron Health, and more-as well as important thinking today's CEOs should become familiar with."—Vijay Govindarajan Coxe Distinguished Professor at Tuck at Dartmouth NYT and WSJ Best Selling Author, Three Box Solution: A Strategy For Leading Innovation


"Undeniably compelling...at timely source for leaders who want to be relevant in the next decade."—Beverly Anderson President, Global Consumer Solutions, Equifax


"In this powerful and groundbreaking book, Joachimsthaler clearly demonstrates how platform thinking can be utilized to create shared value and drive new growth for companies and brands."—David Collis, Adjunct Professor at Harvard Business School, author, Corporate Strategy: Resources and the Scope of the Firm


"A fascinating, practical and insightful book that brilliantly examines the value that platform thinking can bring to companies and brands in today's hyper-connected world."—Sangeet Paul Choudary, CEO of Platformation Labs, International best-selling co-author, Platform Revolution and author of Platform Scale


"An engaging, insightful and immensely practical book on building strong brands and businesses delivering not just shareholder value but also shared value for companies, customers and society."—Vince Hudson Senior Vice President, Enterprise Marketing Strategy, American Express

"One of the most significant inflection points many businesses are facing is the reality that their fates are not in their own hands. Instead, they depend on the actions of ecosystem players. Joachimsthaler's insightful book is a timely guide for how to navigate this new context.

We all know that something fundamental has changed in how businesses deliver value, but many of us have no idea what to do about it. This deeply insightful book takes you behind the scenes to explore the idea of shared value - for real. Virality, network effects and learning have changed the very nature of competitive advantage. This deeply insightful book will show you how to use these shifts to your advantage."—Rita Gunther McGrath, professor, Columbia Business School

From the Publisher