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The Power of Co-Creation: Build It with Them to Boost Growth, Productivity, and Profits

Release date: 20 August 2012
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Apple embraced co-creation to enhance the speed and scope of its innovation, generat-ing over $1 ... Read More

Product Description

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 individualscustomers, employees, suppliers, partners, and other stake-holdersbringing 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 organizationfrom large corporation to small firm, and government agency to not-for-profitcan achieve win morewin 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 worlds 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 platformsand how they have even restructured internal management processesin order to harness the power of co-creation. As the authors wealth of examples make vividly clear, enterprises can no longer afford to view custom-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 process view of qual-ity, re-engineering, and lean thinking, and is the essential new mind-set and practice for boosting sus-tainable growth, productivity, and profits in the future.

Product Details

Title: The Power of Co-Creation: Build It with Them to Boost Growth, Productivity, and Profits
Author: Venkat Ramaswamy
Publisher: FREE PR
SKU: BK0256909
EAN: 9781451623543
Number Of Pages: 288
Language: English
Binding: Paperback
Release date: 20 August 2012

About Author

Francis Gouillart is a co-founder and president of the Experience Co-Creation Partnership (ECC Partnership), a services firm built to implement the co-creation ideas with corporate clients and public organizations around the world. ECC Partnership is the vehicle Mr. Gouillart and his team use for concept development, publication, speeches, management education, workshops, and development of consulting tools. The firm has an office in Concord, MA, and one in Paris, France. The ECC Partnership has an exclusive global agreement with PRTM Consulting on the global application of the co-creation family of concepts to consulting. Mr. Gouillart has personally consulted with many large global organizations in the last 30 years, including DuPont, BASF, Monsanto, Mead, ExxonMobil, La Poste, Credit Agricole, Wells Fargo, Brown Brothers & Harriman (BBH), Carhartt, Avery-Dennison and Nokia. Mr. Gouillart is co-author (with Venkat Ramaswamy) of the newly published book “The Power of Co-Creation” (Simon & Schuster Free Press, October 2010) and the Harvard Business Review article “Becoming a Co-Creative Enterprise” (November 2010). Mr. Gouillart is also co-author (with James Kelly) of the book “Transforming the Organization,” published by McGraw-Hill, which reached the top of BusinessWeek’s best-seller list in 1995. He also co-wrote (with Frederick Sturdivant) the Harvard Business Review article “Spend a Day in the Life of Your Customers,” (January-February 1994). He also authored the popular book “Stratégie pour une Entreprise Compétitive” (Editions Economica, Paris), which was named Best Strategy Book of the Year by the French Association of Strategic Planners (AFPLANE) in 1989. He is considered a leading authority on the topic of co-creation, strategy, innovation, transformation, and process design. His blog, “The Co-Creation Effect,” can be found at francisgouillart.com. Mr. Gouillart received an MBA from the University of Chicago’s Graduate School of Business and currently resides in Concord, Massachusetts. Venkat Ramaswamy is Hallman Fellow of Electronic Business and Professor of Marketing at the Ross School of Business, University of Michigan, Ann Arbor, USA. He is a globally recognized thought leader, idea practitioner, and eclectic scholar with wide-ranging interests in innovation, strategy, marketing, branding, IT, operations, and the human side of the organization. He is a prolific author of numerous articles—including the popular 2000 Harvard Business Review article “Co-opting Customer Competence” and the 2003 MIT-PricewaterhouseCoopers award-winning Sloan Management Review article “The New Frontier of Experience Innovation” (both coauthored with C. K. Prahalad) as well as the 2009 Emerald Literati award-winning Strategy & Leadership article “Leading the Transformation to Co-Creation of Value”, and the 2010 article in the Harvard Business Review on “Building the Co-Creative Enterprise, based on his new book The Power of Co-Creation: Build It With Them to Boost Growth, Productivity, and Profits (Free Press, October 2010; co-authored with Francis Gouilart). His previous award-winning book in 2004, The Future of Competition (with C. K. Prahalad), introduced co‑creation as a revolutionary business concept. Venkat is also a sought-after speaker and a mentor to global firms seeking to become a co-creative enterprise. He has helped several organizations across the United States, Europe, Asia, and Latin America conceive and execute new business ideas through co‑creation, and build management capabilities for co‑creation inside their organizations.

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