The Power of Co-Creation: Build It with Them to Boost Growth, Productivity, and Profits
Venkat Ramaswamy
(Author)
Francis J Gouillart
(Author)
Description
A groundbreaking guide to a set of transformative new ways to harness technologies in order to open up your company and involve consumers in "co-creating" your business, from product development, to brand building and the crafting of new services. Apple embraced co-creation to enhance the speed and scope of its innovation, generat-ing 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 prod-uct lines such as Sunsilk shampoo and revitalized growth. Nike achieved remarkable success with its Nike+ co-creation initiative, which enables a com-munity 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 stake-holders--bringing them into the process of value creation and engaging them in enriched experi-ences, 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 com-panies 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, Ama-zon, 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.
Product Details
Price
$19.99
$18.39
Publisher
Free Press
Publish Date
April 18, 2020
Pages
288
Language
English
Type
Paperback
EAN/UPC
9781439181058
BISAC Categories:
Earn by promoting books
Earn money by sharing your favorite books through our Affiliate program.
Become an affiliate
About the Author
Venkat Ramaswamy is the Hallman Fellow of Electronic Business and Professor of Marketing at the Ross School of Business, University of Michigan, Ann Arbor. He is a globally recognized thought leader, idea practitioner, and an eclectic scholar with wide-ranging interests in innovation, strategy, marketing, branding, IT, operations, and the human side of the organization. His award-winning book, The Future of Competition: Co-Creating Unique Value With Customers (with C. K. Prahalad), introduced co-creation as a revolutionary business concept.
Francis Gouillart is president and cofounder of the Experience Co-Creation Partnership (ECC Partnership), a consulting firm that helps client companies build co-creative management and organizational capabilities. He is an authoritative figure in the consulting world and, prior to joining Venkat Ramaswamy in cofounding ECC Partnership, was closely associated with the theoretical development and consulting-based implementation of major business methodologies, including Blue Ocean Strategy/Value Innovation and the Balanced Scorecard. He previously co-authored the bestselling book Transforming the Organization (with James Kelly).
Francis Gouillart is president and cofounder of the Experience Co-Creation Partnership (ECC Partnership), a consulting firm that helps client companies build co-creative management and organizational capabilities. He is an authoritative figure in the consulting world and, prior to joining Venkat Ramaswamy in cofounding ECC Partnership, was closely associated with the theoretical development and consulting-based implementation of major business methodologies, including Blue Ocean Strategy/Value Innovation and the Balanced Scorecard. He previously co-authored the bestselling book Transforming the Organization (with James Kelly).
Reviews
"At a time when the technologies of the Internet are making entirely new forms of collaboration possible we need maps and guidebooks to help us make sense of the bewildering opportunities. Venkat Ramaswamy and Francis Gouillart have created just such a guidebook. They have charted the unknown territory of large scale co-creation with great thoroughness and imagination. I recommend taking it along on any journeys of co-creation you plan for your organization."--Tim Brown, CEO, IDEO
"The Power of Co-Creation builds a compelling case for how and why many successful companies have changed their focus -- not just reaching audiences, but building constituency. As Venkat Ramaswamy and Francis Gouillart note, this concept is not limited to engaging with customers. It gets to how any organization establishes shared attraction through shared values. In doing so, it builds not just common ground, but a deeper, enduring, widely shared idea on which to build a great enterprise."--Jon Iwata, Senior Vice President, IBM Marketing and Communications
"Interconnectedness has changed everything, and for companies that are looking to find new paths to profit, The Power of Co-Creation is a must read. It sets out how the idea of co-creation can be implemented in every sphere, and the magic that comes out in moving from a firm-centric to a people-centric mindset. Successfully implementing "innovation by everybody" works wonders for all stakeholders."--Anand Mahindra, Chairman, Mahindra & Mahindra
"Inside the heart of every consumer lies a swirling cauldron of needs, wants, and desires that until now have been opaquely shielded from human understanding. The brilliant ideas unleashed by The Power of Co-Creation are nothing short of the proverbial keys to the kingdom, granting aspiring co-creationists a new center-of-gravity interface for triangulating communications between a company, its products, and its customers."--Thomas Frey, Futurist and Executive Director, DaVinci Institute
"Thanks to reduced communication cost and increased connectivity, it is now possible to take the old virtues of "listening to your customer carefully" and turn value creation into a much more dynamic, iterative and bottom-up process. It is this "co-creative" transformation that the authors elaborate and illustrate in The Power of Co-Creation. An enlightening read for business owners in the new, socially-networked millennium."--N. R. Narayanamurthy, Chairman, Infosys
"The Power of Co-Creation demonstrates the new paradigm of strategy which is essential for business innovation regardless of industry. Our corporate motto "At your side" can only become a reality if we truly "co-create" value with our stakeholders."--Shunsuke Katayama, CEO, Brother Sales Ltd.
"Co-creation is set to become a popular movement with a "ready-to-roll" execution framework so lucidly detailed in The Power of Co-Creation, laced with so many live examples. It has the power to actually co-create a new world order!--S. Sivakumar, Chief Executive - Agri Businesses, ITC Limited
"At LEGO, we stumbled across the phenomenon of co-creation which is becoming a major innovation practice. The Power of Co-Creation provides many examples and guidance to gain a better appreciation of technique and touch, and a mindset that is crucial for successful co-creation. As we have learned, co-creation is not about just "following rules," but personal engagement is essential. "--Jørgen Vig Knudstorp, CEO, LEGO
"About half of our strategic initiatives at HMV now come from co-creative engagement with our key stakeholders--patients and their families, physicians and nurses, our employees, business enterprises, and the health insurance companies. The Power of Co-Creation expounds a transformational journey in multi-stakeholder engagement that will shape our future."--Dr. João Polanczyk, CEO, Hospital Moinhos de Vento
"The Power of Co-Creation builds a compelling case for how and why many successful companies have changed their focus -- not just reaching audiences, but building constituency. As Venkat Ramaswamy and Francis Gouillart note, this concept is not limited to engaging with customers. It gets to how any organization establishes shared attraction through shared values. In doing so, it builds not just common ground, but a deeper, enduring, widely shared idea on which to build a great enterprise."--Jon Iwata, Senior Vice President, IBM Marketing and Communications
"Interconnectedness has changed everything, and for companies that are looking to find new paths to profit, The Power of Co-Creation is a must read. It sets out how the idea of co-creation can be implemented in every sphere, and the magic that comes out in moving from a firm-centric to a people-centric mindset. Successfully implementing "innovation by everybody" works wonders for all stakeholders."--Anand Mahindra, Chairman, Mahindra & Mahindra
"Inside the heart of every consumer lies a swirling cauldron of needs, wants, and desires that until now have been opaquely shielded from human understanding. The brilliant ideas unleashed by The Power of Co-Creation are nothing short of the proverbial keys to the kingdom, granting aspiring co-creationists a new center-of-gravity interface for triangulating communications between a company, its products, and its customers."--Thomas Frey, Futurist and Executive Director, DaVinci Institute
"Thanks to reduced communication cost and increased connectivity, it is now possible to take the old virtues of "listening to your customer carefully" and turn value creation into a much more dynamic, iterative and bottom-up process. It is this "co-creative" transformation that the authors elaborate and illustrate in The Power of Co-Creation. An enlightening read for business owners in the new, socially-networked millennium."--N. R. Narayanamurthy, Chairman, Infosys
"The Power of Co-Creation demonstrates the new paradigm of strategy which is essential for business innovation regardless of industry. Our corporate motto "At your side" can only become a reality if we truly "co-create" value with our stakeholders."--Shunsuke Katayama, CEO, Brother Sales Ltd.
"Co-creation is set to become a popular movement with a "ready-to-roll" execution framework so lucidly detailed in The Power of Co-Creation, laced with so many live examples. It has the power to actually co-create a new world order!--S. Sivakumar, Chief Executive - Agri Businesses, ITC Limited
"At LEGO, we stumbled across the phenomenon of co-creation which is becoming a major innovation practice. The Power of Co-Creation provides many examples and guidance to gain a better appreciation of technique and touch, and a mindset that is crucial for successful co-creation. As we have learned, co-creation is not about just "following rules," but personal engagement is essential. "--Jørgen Vig Knudstorp, CEO, LEGO
"About half of our strategic initiatives at HMV now come from co-creative engagement with our key stakeholders--patients and their families, physicians and nurses, our employees, business enterprises, and the health insurance companies. The Power of Co-Creation expounds a transformational journey in multi-stakeholder engagement that will shape our future."--Dr. João Polanczyk, CEO, Hospital Moinhos de Vento
