The Future of Competition: Co-Creating Unique Value With Customers

3.9/5 ( ratings)

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.

Language: English

Pages: 272

Format: Hardcover

Publisher: Harvard Business Review Press

Release: February 18, 2004

ISBN: 1578519535

ISBN 13: 9781578519538

The Future of Competition: Co-Creating Unique Value With Customers

C.K. Prahalad

3.9/5 ( ratings)

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Language: English

Pages: 272

Format: Hardcover

Publisher: Harvard Business Review Press

Release: February 18, 2004

ISBN: 1578519535

ISBN 13: 9781578519538

3/5 ( ratings)

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Reader Reviews

Lori Grant

(4/5)

2

May 18, 2024

A should-read book on competition for knowledge workers who want to be in executive role and entrepreneurs.
Deepak

(5/5)

2

May 18, 2024

This is a great book giving lot of insight into business strategy and why we need to be innovative to keep on winning.
Ioannis Ofakoglou

(5/5)

2

May 18, 2024

MY BIBLE!!!!!!!!
Bùi Ngọc Liên

(4/5)

1

May 18, 2024

the theory is really good. but it take a long time
Vince

(3/5)

2

May 18, 2024

Figuring out how to effectively participate in the experience economy can burn a lot of brain cells. Prahalad and Ramaswamy offer guide-posts, perhaps the definitive set.Unfortunately, the examples haven't aged all that well across the past 8 years. The text is somewhat opaque. The good news is that the tables and diagrams present powerful summaries of the book's main arguments.

Lori Grant

(4/5)

May 18, 2024

A should-read book on competition for knowledge workers who want to be in executive role and entrepreneurs.

Deepak

(5/5)

This is a great book giving lot of insight into business strategy and why we need to be innovative to keep on winning.

Ioannis Ofakoglou

MY BIBLE!!!!!!!!

Bùi Ngọc Liên

the theory is really good. but it take a long time

Vince

(3/5)

Figuring out how to effectively participate in the experience economy can burn a lot of brain cells. Prahalad and Ramaswamy offer guide-posts, perhaps the definitive set.Unfortunately, the examples haven't aged all that well across the past 8 years. The text is somewhat opaque. The good news is that the tables and diagrams present powerful summaries of the book's main arguments.

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The Future of Competition: Co-Creating Unique Value With Customers

The Future of Competition: Co-Creating Unique Value With Customers

The Future of Competition: Co-Creating Unique Value With Customers

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