Synopses & Reviews
Apple embraced co-creation to enhance the speed and scope of its innovation, generatandshy;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 prodandshy;uct lines such as Sunsilk shampoo and revitalized growth. Nike achieved remarkable success with its Nike+ co-creation initiative, which enables a comandshy;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. andlt;BRandgt;andlt;BRandgt;Co-creation involves redefining the way organizations engage individualsand#8212;customers, employees, suppliers, partners, and other stakeandshy;holdersand#8212;bringing them into the process of value creation and engaging them in enriched experiandshy;ences, in order to andlt;BRandgt;andlt;BRandgt;andlt;Bandgt;and#8212;formulate new breakthrough strategiesandlt;/Bandgt; andlt;BRandgt;andlt;BRandgt;andlt;Bandgt;and#8212;design compelling new products and servicesandlt;/Bandgt; andlt;BRandgt;andlt;BRandgt;andlt;Bandgt;and#8212;transform management processesandlt;/Bandgt; andlt;BRandgt;andlt;BRandgt;andlt;Bandgt;and#8212;lower risks and costsandlt;/Bandgt; andlt;BRandgt;andlt;BRandgt;andlt;Bandgt;and#8212;increase market share, loyalty, and returnsandlt;/Bandgt; andlt;BRandgt;andlt;BRandgt;In this pathbreaking book, Venkat Ramaswamy (who coined the term andlt;Iandgt;co-creation andlt;/Iandgt;with C. K. Prahalad) and Francis Gouillart, pioneers in working with comandshy;panies to develop co-creation practices, show how every organizationand#8212;from large corporation to small firm, and government agency to not-for-profitand#8212;can achieve and#8220;win moreand#8211;win moreand#8221; results with these methods. Based on extraordinary research and the authorsand#8217; hands-on experiences with successful projects in co-creation at dozens of the worldand#8217;s most exciting organizations, andlt;Iandgt;The Power of Co-Creation andlt;/Iandgt;illustrates with detailed examples from leading firms such as those above, as well as from Cisco, GlaxoSmithKline, Amaandshy;zon, Jabil, Predica, Wacoal, Caja Navarra, and many others, how enterprises have used a wide range of and#8220;engagement platformsand#8221;and#8212;and how they have even restructured internal management processesand#8212;in order to harness the power of co-creation. andlt;BRandgt;andlt;BRandgt;As the authorsand#8217; wealth of examples make vividly clear, enterprises can no longer afford to view customandshy;ers 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 and#8220;process viewand#8221; of qualandshy;ity, re-engineering, and lean thinking, and is the essential new mind-set and practice for boosting susandshy;tainable growth, productivity, and profits in the future.
Review
and#8220;andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt; demonstrates the new paradigm of strategy which is essential for business innovation regardless of industry. Our corporate motto and#8220;At your sideand#8221; can only become a reality if we truly and#8220;co-createand#8221; value with our stakeholders.and#8221;
Review
and#8220;Interconnectedness has changed everything, and for companies that are looking to find new paths to profit, andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt; 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 and#8220;innovation by everybodyand#8221; works wonders for all stakeholders.and#8221;
Review
and#8220;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.and#8221;
Review
and#8220;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 andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt; 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."
Review
and#8220;Thanks to reduced communication cost and increased connectivity, it is now possible to take the old virtues of and#8220;listening to your customer carefullyand#8221; 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 andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt;. An enlightening read for business owners in the new, socially-networked millennium.and#8221;
Review
and#8220;At LEGO, we stumbled across the phenomenon of co-creation which is becoming a major innovation practice. andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt; 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. and#8221;
Review
"About half of our strategic initiatives at HMV now come from co-creative engagement with our key stakeholdersand#8212;patients and their families, physicians and nurses, our employees, business enterprises, and the health insurance companies. andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt; expounds a transformational journey in multi-stakeholder engagement that will shape our future.and#8221;
Review
"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“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“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.“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 stakeholderspatients 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“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
Review
"andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt; 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."
Review
and#8220;Co-creation is set to become a popular movement with a "ready-to-roll" execution framework so lucidly detailed in andlt;Iandgt;The Power of Co-Creationandlt;/Iandgt;, laced with so many live examples. It has the power to actually co-create a new world order!
Synopsis
A case-study rich introduction to the ways leading businesses are using interactive platforms to generate powerful results by “co-creating.”
Synopsis
From the business visionary who coined the term co-creation comes a groundbreaking guide to creating popular new products and services, rapidly growing market share, cutting costs, and minimizing risks all by opening up a business to input from consumers, business partners, and employees.