Consumer Dynasty and Customers Co-Creating Value

Author: (USA) C.K. Prahalad
Publisher:
Publish Date: 2005-06-01
Features: To date, few have been better or more successful than C.K. Prahalad in perceiving and shaping future trends in strategy. The shift of power from businesses that can determine customer needs to networks of customers who co-create value is likely to be a decisive transformation in market structures in the early 21st century. The author provides forward-looking guidance for a deeper understanding of the decentralized value creation process in industries. Peter Senge, founder and president of the Society for Organizational Learning, undoubtedly recognizes that knowledgeable, closely connected, and actively participating customers will reshape the entire market. This seminal work, co-authored by C.K. Prahalad and Venkatram Ramaswamy, predicts this transformation and offers guidance for better recognizing, understanding, and responding to it. George Day, professor at the Wharton School, University of Pennsylvania, and author of Market-Driven Organizations, states that the enterprise network and consumer community where consumers and businesses collaborate to expand are increasingly becoming core elements of co-creating value. Under this new paradigm, businesses can no longer think and act unilaterally. This book reveals unprecedented opportunities for value creation and innovation. We must perceive the world through new lenses and develop a deeper understanding of existing value creation frameworks. This book provides new perspectives and compares where it diverges from the past. It will guide business leaders in their pursuit of new strategic capital in practice, helping them to retain traditional methods while discovering more effective new approaches.