Co Creation Of Value
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The Power Of Co Creation
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Author : Venkat Ramaswamy
language : en
Publisher: Simon and Schuster
Release Date : 2010-10-05
The Power Of Co Creation written by Venkat Ramaswamy and has been published by Simon and Schuster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-05 with Business & Economics categories.
Apple embraced co-creation to enhance the speed and scope of its innovation, generating over $1 billion for its App-Store partner-developers in two years, even as it overtook Microsoft in market value. Starbucks launched its online platform MyStarbucksIdea.com to tap into ideas from customers and turbocharged a turnaround. Unilever turned to co-creation for redesigning product lines such as Sunsilk shampoo and revitalized growth. Nike achieved remarkable success with its Nike+ co-creation initiative, which enables a community of over a million runners to interact with one another and the company, increasing its market share by 10 percent in the first year. Co-creation involves redefining the way organizations engage individuals—customers, employees, suppliers, partners, and other stakeholders—bringing them into the process of value creation and engaging them in enriched experiences, in order to —formulate new breakthrough strategies —design compelling new products and services —transform management processes —lower risks and costs —increase market share, loyalty, and returns In this pathbreaking book, Venkat Ramaswamy (who coined the term co-creation with C. K. Prahalad) and Francis Gouillart, pioneers in working with companies to develop co-creation practices, show how every organization—from large corporation to small firm, and government agency to not-for-profit—can achieve “win more–win more” results with these methods. Based on extraordinary research and the authors’ hands-on experiences with successful projects in co-creation at dozens of the world’s most exciting organizations, The Power of Co-Creation illustrates with detailed examples from leading firms such as those above, as well as from Cisco, GlaxoSmithKline, Amazon, Jabil, Predica, Wacoal, Caja Navarra, and many others, how enterprises have used a wide range of “engagement platforms”—and how they have even restructured internal management processes—in order to harness the power of co-creation. As the authors’ wealth of examples make vividly clear, enterprises can no longer afford to view customers and other stakeholders as passive recipients of their products and services but must learn to engage them in defining and delivering enhanced value. Co-creation goes beyond the conventional “process view” of quality, re-engineering, and lean thinking, and is the essential new mind-set and practice for boosting sustainable growth, productivity, and profits in the future.
The Future Of Competition
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Author : C. K. Prahalad
language : en
Publisher: Harvard Business Press
Release Date : 2004-02-18
The Future Of Competition written by C. K. Prahalad and has been published by Harvard Business Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-02-18 with Business & Economics categories.
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.
The Co Creation Paradigm
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Author : Venkat Ramaswamy
language : en
Publisher: Stanford University Press
Release Date : 2014-04-09
The Co Creation Paradigm written by Venkat Ramaswamy and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-09 with Business & Economics categories.
A fundamental shift is underway that will change how we conceive of value. In an era of increasing interconnectedness, individuals, as opposed to institutions, stand at the center of value creation. To adapt to this tectonic shift, organizations can no longer unilaterally devise products and services. They must engage stakeholders—from customers and employees to suppliers, partners, and citizens at large—as co-creators. Co-creation guru Venkat Ramaswamy and Kerimcan Ozcan call for enterprises to be mindful of lived experiences, to build engagement platforms and management systems that are designed for creative collaboration, and to develop "win more-win more" strategies that enhance our wealth, welfare, and, well-being. Richly illustrated with examples of co-creation in action, The Co-Creation Paradigm provides a blueprint for the co-creative enterprise, economy, and society, while presenting a conceptual framework that will guide organizations across sectors in adopting this transformational approach. Challenging some of our most deeply held ideas about business and value, this book outlines the future of "business as usual."
Co Creation
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Author : Tobias Redlich
language : en
Publisher: Springer
Release Date : 2018-11-19
Co Creation written by Tobias Redlich and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-19 with Business & Economics categories.
Across several industries, we are observing a paradigm shift from traditional, firm-centric and top-down value creation to more open and collaborative approaches, also referred to as bottom-up economics. The boundaries of firms dissolve and external actors (customers, user, suppliers etc.) enter the domain of value creation by means of advanced information and communication technologies. These new and evolving patterns require a renewed and interdisciplinary understanding of how co-creation enables organizations to reshape business and society. With contributions from industrial and academic experts, this book provides deep insights into the theory and practice of bottom-up economics, and addresses the major opportunities and challenges that have emerged in the era of co-creation. A must read for decision-makers looking to innovate their companies' business models—from ideation to marketing. Dr.-Ing. Michaela Colla, K-GXI Leader – Industry 4.0 at Volkswagen Simply put, co-creation is the future of work. With technology morphing the way we work and young people wanting to tackle problems that matter, co-creation is the sandbox where the world can come together to solve big challenges. Plus, co-creation rapidly delivers products with built-in market fit. Megan Brewster, Vice President of Advanced Manufacturing at Launch Forth Successful leaders will co-create the future. This book is an excellent starting point.Jürgen Bilo, Managing Director co-pace GmbH, The Startup Organisation of Continental AG
The Support Of Value Co Creation
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Author : Ädris Osmani
language : en
Publisher: GRIN Verlag
Release Date : 2017-12-13
The Support Of Value Co Creation written by Ädris Osmani and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-13 with Business & Economics categories.
Project Report from the year 2016 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 2,0, Manchester Metropolitan University Business School, course: Strategic Operations for Business Developement, language: English, abstract: Co-creation is a very vast term now a days and its definition differs from context to context and industry to industry. Co-creation has been defined by the Innovation Management as the type of Co-creation which occurs between consumers and the organizations at the beginning of the value chain which is at the early stages of the product development. The Context of value and value creation is fluctuating from just a firm or product centered view to a different phenomenon which includes the experience of consumers. As this trend is shift to experiences from Value, the industry or the market is becoming the medium of interaction between the companies and the consumers.
Co Creation In Tourist Experiences
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Author : Nina K Prebensen
language : en
Publisher: Taylor & Francis
Release Date : 2017-04-21
Co Creation In Tourist Experiences written by Nina K Prebensen and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-21 with Business & Economics categories.
The tourist experience is multi-faceted and dynamic, as tourists engage with its formation and creation. The tourists then become vital in creating value for themselves together with the service provider. Experience value cannot be pre-produced, but is co-created between host and guest(s) in the servicescape. The tourist managers can therefore only plan for and facilitate for value co-creation to take place. This book responds to the need for a critical review of how firms can facilitate and dramatize for enhanced experience value for tourists. As the roles of participants and providers are changing rapidly, new knowledge in terms of how value creation and value co-creation can transpire needs to be generated. The aim of this book is therefore to accentuate the role and importance of the core elements in value creation processes, namely, the customer(s), the setting in which co-creation would take place, and the provider. Bringing together scholars from diverse areas to address the nature of how the actors co-create values through interaction in different experience settings, the book also serves as a guide to the best practice of co-creation of tourist experiences. It will therefore appeal practically as well as theoretically to scholars and students of tourism, marketing, leisure, hospitality, and services management.
Co Creation Of Value
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Author : Birud Sindhav
language : en
Publisher:
Release Date : 2014
Co Creation Of Value written by Birud Sindhav and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Co-creation of value with consumers is an emerging marketing paradigm for the firms. One way to understand co-creation of value is to examine co-creation of value at the new product development (NPD) stage, when consumer has yet to interact with the fully formed product. We first describe the emergence of social media as an evolution of the social nature of the web. Then we describe social validation, social information, and social inspiration as three processes that help explain why consumers like to be part of co-creation at the NPD stage. Finally, we describe two stages of NPD in the context of co-creation with consumers: ideation and prototyping, and discuss implications for the emerging markets like India.
Collaboration And Co Creation
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Author : Gaurav Bhalla
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-11-02
Collaboration And Co Creation written by Gaurav Bhalla and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-02 with Business & Economics categories.
Today’s consumers are more knowledgeable, networked, and vocal. For them consumption is not merely an act of buying products and services, but an expression of their creative potential. Consequently, they are demanding a say and a voice in how companies conceive, develop, and deliver value to them. It is not surprising, therefore, to hear that a large number of companies are transforming how they innovate—not only in terms of developing new products and services, but in how they are created, delivered, and supported to customers. Open Innovation thinking, where companies collaborate with suppliers, distributors, and customers to co-create unique value, is fast replacing traditional thinking that viewed innovation as a proprietary activity and marketing as a static, one-way broadcast. However, while there is significant advocacy and buy-in for collaborating with customers, there is little guidance for companies on how to undertake the journey from applause and appreciation to execution. Only reading about others’ success stories – Nike, Hallmark, P&G, Mozilla, etc. – is not sufficient for helping a company develop a blueprint for themselves. In Customer Driven Innovation, strategy and branding consultant Gaurav Bhalla presents a concrete framework to help companies systematically and effectively design and implement collaborative innovation programs with their customers that can be applied in both business-to-business and business-to-consumer contexts. The authors describe how today’s technologies allow companies to create dynamic dialogues with their customers through shared networks, virtual marketing techniques, and blogs to develop deeper relationships that reinforce brand loyalty and ultimately drive growth. They challenge traditional approaches to market research that measure "customer satisfaction" from a rear-window perspective, and help companies and their customers look forward instead.P>
Value Co Creation
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Author : Matthew James Alexander
language : en
Publisher:
Release Date : 2012
Value Co Creation written by Matthew James Alexander and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Value Co-Creation plays a central role within the Service-Dominant Logic of marketing. However, value co-creation is largely conceptual and lacks empirical evidence around both the appropriate contexts and conditions for collaborative co-creation and effects on firms and customers. Using a mixed methods research design this thesis explores value co-creation through a sequential-exploratory, multi-phase approach. The first study is exploratory and qualitative with results influencing two further empirical studies, one quantitative and the other mixed method. This first study used expert ratings and in-depth interviews to explore value co-creation within a three-stage purchasing cycle. The results indicated differing approaches and a conceptual model is presented highlighting conditions under which firms might take advantage of opportunities for value co-creation. The second study used experiments to test the effect of co-creating on consumers; in particular, the role of trust and equity in co-created exchanges. The results showed how in co-created exchanges, trust and relationship investment are key in improving customer intentions, and how co-creating can reduce the negative impact of perceived inequity. The third study used a mixed methods approach to consider the indirect effect of co-creating on other customers. A case study approach with a public transport provider revealed how co-creation at railway stations might affect passenger behaviour. A hierarchical linear modelling study shows how co-creation at station level has an indirect effect on affective and conative loyalty. The thesis contributes to our understanding of value co-creation by reinforcing the contexts and conditions where collaborative forms of co-creation might be best employed. The thesis also shows how co-creating affects the consumers involved and the implications of this for firms. Finally, the thesis contributes by revealing how co-creating with a relatively small group can have a positive effect on a wider group of customers.
Customer Value Co Creation
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Author : Bernard Quancard
language : en
Publisher: Wessex, Incorporated
Release Date : 2017-09-30
Customer Value Co Creation written by Bernard Quancard and has been published by Wessex, Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-30 with categories.
This book takes an in-depth look at the 10 most critical enablers of an effective strategic customer management initiative, offering an organizational blueprint for a successful SAM program. It then leverages decades of benchmarking data with world-class companies to address the components of an efficient and effective value creation process. The book's third section illuminates the key traits and competencies a strategic account manager needs in order to drive this strategic co-value creation process. And the book's final section imagines the SAM of tomorrow, forecasting the impact of digitalization on the role of the SAM, on the value-creation process, and on the entire strategic customer- centric organization. It is a challenging time for B2B. Disruptors abound, procurement organizations have become highly sophisticated, and the proliferation of data has unleashed forces of change whose repercussions will be felt wide and far. But these challenges also create enormous opportunities for strategic salespeople and strategic account managers who are able to harness them in the service of nurturing strong relationships and building innovative customer solutions that impact their customers' business results.